StockMarketWire.com - Aminex [LON:AEX] 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.

* * *

Gulf Keystone Petroleum [LON:GKP] says a gross payment of $8.0 million has been received from the Kurdistan Regional Government for Shaikan crude oil exports in May. This is a partial payment of the invoiced amount and the balance is expected to be paid shortly.

* * *

Europa Oil & Gas's [LON:EOG] licence in the Weald Basin, Surrey - PEDL 143 - has been extended for two years until 1 October 2018.

Europa says this will enable it to drill the conventional Holmwood prospect, which has estimated gross mean unrisked prospective resources of 5.6 million barrels of oil (mmbo) in Portlandian and Corallian sandstones and a P90 P10 range of resources of 1 to 11mmbo, in late 2016 / H1 2017, subject to funding.

PEDL143 is located in an area of the Weald Basin where 30 million barrels have been produced to date from 14 oil and gas fields.

The Holmwood prospect is located 5km to the south of the Brockham oil field, which was discovered by BP in 1987 and today produces oil from Portlandian sandstone reservoirs.

Holmwood is also 12km to the west of the Horse Hill-1 well in PEDL137 where UK Oil & Gas Investments PLC (UKOG) has reported production at a combined average stable rate of over 1,688 bopd from Upper and Lower Kimmeridge Limestone reservoirs and Upper Portland sandstone reservoir during flow tests.

Chief executive Hugh Mackay said: "The licence extension was necessary to drill the 5.6mmbo Holmwood prospect in late 2016 / H1 2017. We are looking forward to drilling this conventional prospect which we rate as having a one in three chance of success, as we focus on further growing our UK onshore production, which is on track to more than double to in excess of 250 bopd in H2 2016 when the Wressle discovery comes on stream."

Egdon Resources [LON:EDR] - which holds an 18.4% interest - noted Europa's announcement.

* * *

Solo Oil [LON:SOLO] said operator Aminex completed discussions with the Tanzanian Petroleum Development Corporation (TPDC) in relation to extending the licence term for the Mtwara licence of the Ruvuma production sharing agreement (Ruvuma PSA) in Tanzania, which was previously due to expire late December 2016.

A one-year extension has been approved by TPDC, which is processing the extension for immediate ministerial approval.

Aminex also completed discussions with the TPDC concerning transferring outstanding drilling obligations in the northern Lindi Licence (Lindi), also covered by the Ruvuma PSA, into the southern Mtwara licence (Mtwara).

Mtwara includes the approved appraisal area for the Ntorya gas condensate discovery. TPDC is supporting the transfer of the Lindi drilling obligations to Mtwara and is seeking ministerial consent.

Once consent is received, Aminex and Solo intend to drill the Ntorya-2 appraisal well, which will satisfy the appraisal drilling obligation is then expected that the Solo-Aminex partnership will apply for a 25-year development licence for the Ntorya discovery.

Elsewhere in Tanzania, the power generation system and other auxiliary facilities at the Songo Songo Island gas processing plant have been commissioned and commissioning of the remainder of the gas plant and sub-sea pipeline commenced on 4 April.

The Kiliwani North-1 (KN-1) well continues to be the sole producer to the TPDC gas processing plant on Songo Songo Island during commissioning and is expected to reach production levels of up to 30 mmscfd shortly.

Gas from KN-1 will be processed at the new Songo Songo Island gas plant and will ultimately be transported by pipeline to Dar es Salaam, where it will be sold into the local Tanzanian market.

Solo chairman Neil Ritson said: "Solo is very pleased with progress in the Ruvuma PSA and that we will shortly be in a position to commence the appraisal of the Ntorya-1 gas condensate discovery, which we remain convinced has substantially more potential than the gross 70 bcf of gas booked to contingent resources this far.

"We look forward to an announcement from Aminex on the expected spud date for the Ntorya-2 well in due






At 4:15pm:

[LON:AEX] Aminex PLC share price was -0.08p at 1.08p

[LON:AUR] Aurum Mining PLC share price was 0p at 0.9p

[LON:BOR] Borders Southern Petroleum PLC share price was -0.04p at 1.76p

[LON:CHAR] Chariot Oil Gas Ltd share price was -0.27p at 5.68p

[LON:EDR] Egdon Resources PLC share price was +0.25p at 10p

[LON:ENQ] EnQuest Plc share price was -0.12p at 29.88p

[LON:EOG] Europa Oil Gas Holdings PLC share price was -0.25p at 3.75p

[LON:GKP] Gulf Keystone Petroleum share price was -0.37p at 4.38p

[LON:GPX] Gulfsands Petroleum PLC share price was 0p at 4.13p

[LON:INDI] Indus Gas Ltd share price was -5p at 210p

[LON:PET] Petrel Resources PLC share price was +0.13p at 6.75p

[LON:RKH] Rockhopper Exploration PLC share price was -2.5p at 32p

[LON:RPT] Regal Petroleum PLC share price was +0.24p at 3.76p

[LON:SOLO] Solo Oil PLC share price was 0p at 0.24p

[LON:XEL] Xcite Energy Ltd share price was +0.01p at 8.26p



Story provided by StockMarketWire.com