StockMarketWire.com - Aminex has completed discussions with the Tanzanian Petroleum Development Corporation in relation to extending the term for the Mtwara licence of the Ruvuma production sharing agreement which was due to expire late December. A one-year extension has been approved by the TPDC, which is processing the extension for ministerial approval and signature.

The company has also completed discussions with the TPDC with regards to transferring the drilling obligations in the northern Lindi licence covered by the Ruvuma PSA into the southern Mtwara Licence, which includes the appraisal area for the Ntorya discovery.

With the support of the TPDC, the transfer of the Lindi drilling obligations to the Mtwara licence area is also being processed for Ministerial approval and signing. Thereafter, the Company intends to drill the Ntorya-2 well to satisfy the appraisal drilling obligation and then to apply for

And Aminex says its lender has granted an 18-month extension until 31 January 2018 to the repayment date of its corporate loan facility on existing terms.

Aminex says that as recently announced, the power generation system and other auxiliary facilities at Kiliwani North have been completed and commissioning of the gas plant and sub-sea pipeline commenced on 4 April.

The Company continues to be the sole producer to the TPDC gas processing plant during the commissioning process and is expected to reach production levels of up to 30mmcfd.


At 8:53am: [LON:AEX] Aminex PLC share price was 0p at 1.15p



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