Aminex updates Nyuni-1

Aminex has completed drilling the Nyuni-1 well offshore Tanzania to a total depth of 3,895 m. The target formation was the Lower Cretaceous Neocomian sandstone, of which the company has identified an 1,100 m section in the well.

Apr 8th, 2004

Aminex has completed drilling the Nyuni-1 well offshore Tanzania to a total depth of 3,895 m. The target formation was the Lower Cretaceous Neocomian sandstone, of which the company has identified an 1,100 m section in the well. Wireline log and Repeat Formation Test data have been acquired after earlier difficulties and provide encouraging indications for hydrocarbons despite the geologically complex nature of the formation.

The next step is to conduct a series of downhole tests, using a modular formation dynamics tester tool (MDT) to provide information on the extent of net sand intervals, the nature of the formation fluids, and properties of the reservoir rocks. The MDT arrived in Dar es Salaam on April 6 and will be moved to Nyuni Island as soon as Tanzanian Customs formalities have been completed.

Results of geochemical analysis conducted on down-hole samples are consistent with the theory of a wide-spread oil-mature source rock offshore Tanzania.

04/08/04

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