StockMarketWire.com - Aminex's losses narrowed to $2.53m in the year to the end of December - down from $3.78m in 2015.

Aminex said it progressed strongly on many fronts during 2016 and early 2017 and had become a Tanzanian gas producer for the first time following Kiliwani North start-up.

It said it had also significantly advanced the production potential of the Ntorya prospect in the Ruvuma Basin with the success of the recent Ntorya-2 appraisal well.

Chief executive Jay Bhattacherjee said: "2016 was a transformative year with Aminex achieving first gas production from its Kiliwani North field, the introduction of a strategic investor and spudding the Ntorya-2 appraisal well, which subsequently tested at an average rate of 17 MMcfd.

"The company is now looking forward to developing the resources in the onshore Ruvuma Basin, while gas revenues assist with the early repayment of corporate debt.

"We appreciate the continued trust that shareholders have put in management."


At 8:40am: [LON:AEX] Aminex PLC share price was +0.1p at 5.13p



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