Aminex increases Tanzanian discovery estimates to 1.9Tcf

Aminex has announced that following the Company’s newly acquired seismic in Tanzania  shows larger resources estimates than earlier anticipated.

The new interpretation by Aminex over the Ntorya discovery in the Ruvuma PSA shows that Likonde and Ntorya are connected at the Cretaceous level and based on the recent 2014 seismic programme estimates of the resources have increased from 1.2 Tcf to 1.9 Tcf (Pmean GIIP).

Ntorya-1 Discovery was drilled in 2012 and tested 20 MMCFD with 139 Barrels of associated condensate while Likonde-1 which was drilled in early 2010 identified oil shows throughout a thick reservoir section.

In a statement Aminex CEO Jay Bhattacherjee says the new estimates strengthen the company’s believe that the resource estimates in the Rovuma basin are world class.

‘We are highly encouraged by the results from the seismic programme. The increase in resource confirms the world-class potential of Ruvuma, which is being proven in the offshore blocks. We look forward to updating shareholders with our developments,’ said Bhattacherjee.

Aminex  which operates in Tanzania through its 100% owned subsidiary Ndovu Resources Limited is the operator of its 3 Licences in Tanzania including Kiliwani North Development licence (65% WI), Ruvuma Exploration Licence (75% WI) and Nyuni Exploration Licence (70% WI).