StockMarketWire.com - Aminex [LON:AEX] was up in late trading after announcing it was pleased with progress being made at the Kiliwani North development licence in Tanzania.

It says commissioning of the power generation system and other auxiliary facilities has been completed and commissioning of the gas plant and sub-sea pipeline began on 1 June.

On 2 June the first Kiliwani North-1 gas was processed and entered the pipeline system connecting the Songo Songo plant with the national pipeline.

During the commissioning, gas rates are planned to increase to 30 mmscfd while pressuring up the plant and pipeline.

Aminex and its partners have invoiced TPDC for both April and May gas production in accordance with the terms of the signed Gas Sales Agreement.

All gas produced during the build-up to full production rates will be paid for under the terms of the agreed Gas Sales Agreement signed with the sole buyer, Tanzania Petroleum Development Corporation ("TPDC"). Aminex will receive US$3.00 per mmbtu (approximately US$3.07 per mcf). The gas price is not linked to any commodity price so importantly is unaffected by current commodity market conditions. The gas delivery point is at the outlet flange of the Kiliwani North wellhead and, by selling the gas at the wellhead, the joint venture partners will not be liable for pipeline transportation and processing fees.

Chief executive Jay Bhattacherjee said: "We are pleased with the progress made so far at Kiliwani. The well has been performing very well and commissioning is so far on schedule. The Company continues to focus on delivering production growth through Kiliwani and driving its appraisal and eventual development programme at Ruvuma."

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Ascent Resources [LON:AST] has issued 99,334 new ordinary shares following the conversion of 882 convertible loan notes which were issued in May 2013 as part of an open offer to all shareholders. The company says GBP10,363,763 nominal convertible loan notes (including rolled-up interest) remain outstanding.

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Solo Oil [LON:SOLO] has received an update from the Kiliwani North production operations in Tanzania from the operator Ndovu Resources Ltd, a subsidiary of Aminex.

HIGHLIGHTS:

- Commissioning of the power generation system and other auxiliary facilities has been completed.

- Commissioning of the gas plant and sub-sea pipeline commenced on 1 June 2016

- On 2 June the first Kiliwani North-1 ("KN-1") gas was processed and entered the pipeline system connecting the Songo Songo plant with the national pipeline.

- During the commissioning, gas rates are planned to ramp up to 30 mmscfd while pressuring up the plant and pipeline.

- Ndovu and its partners have invoiced for April and May gas production in accordance with the terms of the signed Gas Sales Agreement ("GSA").

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Stratex International [LON:STI] has provided an exploration update on its 85%-owned Dalafin gold project in eastern Senegal.

HIGHLIGHTS:

- Infill soil sampling at the Far� prospect has extended the Far� South anomaly (>30 ppb) by at least 750 metres to the south-west;

- 1,250 m NW-trending anomaly (10-60 ppb) identified in Grid 1, to the east of Far� South;

- Outcrop sampling at the Baytilaye prospect has returned best results of 1.6 g/t Au from Baytilaye East and 1.37 g/t Au, 1.23 g/t Au, and 0.92 g/t Au from Baytilaye West;

- All data, including previous positive drilling results for Madina Baf� currently being reviewed with a view to further exploration.

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The sector's biggest riser was Independent Resources [LON:IRG] - up by more than 54.5% in late trading - while the biggest faller was Petrel Resources [LON:PET] - down by over 15.6%.




At 4:17pm:

[LON:AEX] Aminex PLC share price was +0.05p at 1.35p

[LON:AST] Ascent Resources PLC share price was +0.01p at 0.59p

[LON:AUR] Aurum Mining PLC share price was 0p at 0.95p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.08p at 1.93p

[LON:CHAR] Chariot Oil Gas Ltd share price was -0.08p at 7.85p

[LON:ENQ] EnQuest Plc share price was +0.25p at 33.75p

[LON:GKP] Gulf Keystone Petroleum share price was +0.25p at 4.51p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 4.25p

[LON:INDI] Indus Gas Ltd share price was +50p at 260p

[LON:IRG] Independent Resources PLC share price was +0.05p at 0.13p

[LON:PET] Petrel Resources PLC share price was -1p at 5.38p

[LON:RKH] Rockhopper Exploration PLC share price was -0.62p at 37.88p

[LON:RPT] Regal Petroleum PLC share price was -0.05p at 2.85p

[LON:SOLO] Solo Oil PLC share price was 0p at 0.27p

[LON:STI] Stratex International PLC share price was 0p at 1.93p

[LON:XEL] Xcite Energy Ltd share price was -0.75p at 12.13p



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