StockMarketWire.com - Aminex says gas production from the Kiliwani North-1 well in Tanzania reached 30 mmcf per day (approximately 5,000 barrels of oil equivalent per day)at the weekend with stable pressure recordings at that rate.

The commissioning process is expected to be concluded with the testing of the well to determine optimal rates which the company believes will be around 30 mmcf per day based on previous well-test data.

Aminex has 54.575% of the Kiliwani North Development Licence.

Aminex is the sole producer into the new Songo Songo Island Gas Processing plant and anticipates that post well testing that the plant will continue to require in excess of 23 mmcf per day to operate. The gas produced will be paid for under the terms of the Gas Sales Agreement signed with the sole buyer, Tanzania Petroleum Development Corporation. Aminex will receive US$3.00 per mmbtu (approximately US$3.07 per mcf).

Chief executive Jay Bhattacherjee said: "The commissioning of the production well at Kiliwani North is proceeding as expected, with production reaching 30mmcf per day at the weekend. Commissioning of the well, pipeline and associated plant are going well and TPDC advises that the process will be concluded by the end of the month, after which we plan to test the well to determine optimal flow rates."


At 8:18am: [LON:AEX] Aminex PLC share price was +0.13p at 1.13p



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