aminex's update on tanzania

It amazes me how our JV operator can be so confident with the future of the Nyuni PSA,and Key management want out?

Here's a snipet from an update they released to S/H today


Nyuni PSA: As previously reported, Aminex is confident that approval for expansion of the gas plant at Songo-Songo Island and expansion of pipeline facilities is expected be granted and this will provide a sales route for gas to be produced from Kiliwani North under a formal development plan to be negotiated with the Tanzanian authorities. Given its proximity to the Songas terminal (about 2.5 kms in a straight line or 3 kilometres if a pipeline follows the existing road) Kiliwani North will be economically viable and should not require a second well. New mapping based on seismic acquired in 2009 shows Kiliwani North to be technically robust.


The outlying prospects are an order of magnitude larger than the discovery at Kiliwani North. The remapping exercise carried out, based on reprocessing of existing data and now integrated with the new data acquired over Kiliwani North, demonstrates potential for tying in much more substantial gas reserves to a hub at Songo-Songo Island based around the Kiliwani North discovery.

West Songo-Songo PSA: Progress has been limited so far on this prospective PSA, but Aminex considers it to be a valuable component of its Tanzanian portfolio. A discovery at West Songo-Songo in due course could be tied into the proposed gas hub based on Songo-Songo Island at Kiliwani North.