Ann: Tanzania - Nyuni Extension Granted , page-9

April 19, 2011

Aminex Derisks Licence Arrangements Ahead Of Nyuni-2



Last week was pretty significant for Aminex as it secured key licence agreements in Tanzania that help clear the decks ahead of the drilling of a high impact well. First, the London-listed E&P signed a development licence for its Kiliwani North discovery, a key step towards brining this near-shore gas find into production. Then, later in the week, Aminex was granted a six-month extension to its Nyuni PSA, which should ensure the upcoming Nyuni-2 well is completed within the life of the existing PSA. These two agreements have helped de-risk Aminex?s portfolio, bringing the 2008 Kiliwani North-1 discovery another step closer to development, and removing any uncertainties in the event Nyuni-2, like the 2004 Nyuni-1 well, should run over-time.
This is important because Aminex is approaching one of the biggest tests of its Tanzanian campaign. The company has been a pioneer in the emergence of the East African coastal margin: its Nyuni-1 well of 2004 was the first well in Tanzania for well over a decade while the Kiliwani North gas find, which flowed 40 million cf/d on test, preceded Anadarko?s and BG?s recent run of deepwater discoveries offshore Mozambique and Tanzania.

But these pioneering efforts have been...


Just a shame!