TANZANIA ? West Songo-Songo The West Songo-Songo PSA area is located between the Songo-Songo Gas Field and the coast of Tanzania. One of its eastern boundaries is contiguous with the Nyuni PSA. In terms of the petroleum system, West Songo-Songo lies within the Rufiji Basin, a proven producing trend containing the Songo- Songo Gas Field, and the Kiliwani North discovery. The operator Key Petroleum Ltd. (?Key?) has completed an interpretation of all existing seismic on the block and identified a number of structural prospects and leads at Lower Cretaceous Neocomian level where the reservoir target would be the Neocomian sandstones, the main producing reservoir at the Songo-Songo Field and Kiliwani North. Additional potential involving stratigraphic trapping has been identified at higher levels in the Cretaceous and Tertiary. In order to evaluate further the structural and stratigraphic definition of the existing prospects and leads, Key plans to reprocess the existing seismic over these areas. Within the Initial Exploration Period of the PSA there is an obligation to drill one firm well in the first three years. Aminex holds a 50% interest in the licence.
KEY Price at posting:
9.9¢ Sentiment: LT Buy Disclosure: Held