Update from AEX 16/5.Extract from: INTERIM MANAGEMENT STATEMENT...

Update from AEX 16/5.

Extract from: INTERIM MANAGEMENT STATEMENT – FIRST QUARTER 2012
"
Kiliwani North tie-in delayed by infrastructure constraints

Kiliwani North Development Licence.
As previously announced Aminex has completed the engineering design for the Kiliwani North-1 (KN-1) tie-in to the Songas Processing plant.

The 6" line pipe to connect KN-1 to the processing plant is expected to be delivered by the end of June. Efforts to secure access to infrastructure for Kiliwani North gas have been hampered by capacity restrictions to the existing processing plant and pipeline.

The Government of Tanzania is finalising financing arrangements with the Chinese Exim Bank for new pipeline and processing plant infrastructure that will include additional processing and transportation capacity from Songo Songo Island.

In the meantime, Aminex has been negotiating a short-term agreement to tie-in to the existing facilities. However, despite best efforts, Aminex has not reached an agreement for tie-in on commercially acceptable terms.

Aminex looks forward to resuming investment in Kiliwani North when the new processing plant and gas pipeline plans have been finalised. "

Cheers
R