LONDON -- Aminex Plc. has released its interim results for the six months ended June 30, 2007.
A setback that took place in the first half of the year has delayed drilling in Tanzania by several months. Mechanical problems with the rig required major upgrading in situ, Aminex says. The company expects rig delivery in mid-October. All other materials and services are in place for spudding Kiliwani-1 as soon as the rig has been mobilized to the island of Kiliwani about 1 km (0.6 mi) south of Songo-Songo island. The second well is to be drilled at a location known as Kiliwani North, but drilling will be contingent upon adequate rig capabilities, the company says.
The company also commented on its Ruvuma PSA, which comprises two licenses known as Lindi and Mtwara, jointly covering 12,000 sq km (4,633 sq mi) and split 80% onshore and 20% offshore. Marine 2D seismic was carried out in late 2005. An onshore survey is under way. Results will determine drilling locations. Two wells currently are planned for 2008/2009. Several sizeable oil and gas prospects have been identified. Aminex regards the Ruvuma PSA as a key part of its East African exploration portfolio.
Meanwhile, the first of three wells in the West esh el Mellahah (WEEM) concession in the Gulf of Suez offshore Egypt is expected to spud in November. WEEM contains a number of prospects, including some that adjoin Lukoil's oil production on WEEM block 1. The main prospects have been defined by 3D seismic, Aminex says.
Offshore Kenya, the company has made progress with negotiations for a production-sharing agreement for near-shore blocks L17 and L18.
"The first half (of 2007) principally involved preparation for our active exploration program in Tanzania, Madagascar, and Egypt during the rest of 2007 and beyond," said B. A. Hall, Aminex chairman. "We raised new capital through a placing and rights issue in the summer and we spread our drilling risk through new farm-out arrangements in the Nyuni license. Operationally we have made good progress and the coming months will be of great significance in the company's development."