Aminex Provides Ntorya-2 Operations Update

Aminex has provides the following update on the Company’s drilling activity in the Ruvuma Basin, Tanzania, where the Ntorya-2 appraisal well was spudded on 21 December 2016, with a planned total depth of 2,860 metres.

Drilling Status and Schedule

• On 5 January the 17” hole section was cased and cemented to a depth of 1,326 metres.
• Drilling recommenced on 7 January in the 12” section which will be cased and cemented at 2,095 metres.
• Following this an 8 ½” section is planned through the target Cretaceous formation to an estimated total depth of 2,860 metres.
• A 7” cemented liner is then expected to be set and a detailed analysis of the well data conducted prior to potential testing.

This vertical well is targeting the same sandstone channel complex as the Ntorya-1 discovery which flow tested gas at 20 mmcf/d, with 139 barrels of associated condensate, from a 3.5-metre sand interval.

Solo Oil has a 25% non-operating interest in the well, which is operated by Aminex with the remaining 75% interest.