An extract from AEX year end results.What a read...

An extract from AEX year end results.

What a read !!!.....

Enjoy

Cheers
R

Tanzania - Nyuni PSA Gas Discovery

The Kiliwani North-1 well, located on the southeast end of Songo-Songo Island, was confirmed as a new field gas discovery after production testing gas at 40 MMscfd from a 20 metre perforated interval in excellent reservoir quality Lower Cretaceous sands. The well has been completed and suspended for future production. The KN-1 well is just 3 kms from the Songo-Songo Gas Field processing facilities, owned by Songas, and is therefore very well positioned for a future tie-in.

Although the production test has provided much important data, the extent of the reserves cannot yet be accurately estimated, as the Kiliwani North structure extends beyond the range of existing seismic data. A programme of field delineation will be required in parallel with plans to commercialise the discovery. The Nyuni Joint Venture applied for and was granted by the Government of Tanzania, a separate appraisal area, comprising the discovery block and several adjoining blocks within the Nyuni Licence area. The remainder of the Licence continues to be held as an exploration area, now in the third period of the PSA, with a further work programme to be undertaken.

An independent mapping project was completed in the second half of the year, evaluating the remaining exploration potential in the Nyuni Licence. A number of substantial leads have been identified for which additional infill seismic will be required in order to bring them to drillable prospect status. With plans already in place to expand the capacity of the Songas Plant on Songo-Songo Island, with a common user pipeline to shore, there are opportunities for Aminex and its partners to build a significant new gas business should further exploration result in additional gas discoveries on this high potential licence.

Aminex has 40% of the Nyuni Licence and is the Operator.