StockMarketWire.com - Aminex said the Mtwara licence of the Ruvuma production sharing agreement (PSA) which was due to expire in December 2016, received formal ministerial approval and signature for an extension of one year until December 2017. The Mtwara licence includes the Ntorya appraisal area where the company has an existing discovery well, which tested at 20 mmcf per day with 139 bbls of associated condensate. Within the licence, civil work for the Ntorya-2 appraisal well has commenced and it is expected that the well pad will be completed within ten weeks. The company has a 75% working interest and is the operator of this well which is positioned approximately 1500m South West of the Ntorya-1 discovery well. The well will satisfy the company's appraisal drilling obligation after which the company intends to apply for a 25-year development licence subject to its success. Story provided by StockMarketWire.com