Drilling delayed offshore Tanzania

Aminex Plc. reports that the Caroil-6 land rig, which Aminex and partners contracted to drill two exploration wells on the Nyuni license offshore Tanzania, has experienced delays.

Offshore staff

LONDON -- Aminex Plc. reports that the Caroil-6 land rig, which Aminex and partners contracted to drill two exploration wells on the Nyuni license offshore Tanzania, has experienced delays. The rig will undergo remedial work and upgrading before moving to Tanzania. The rig is on location in the adjoining Songo-Songo gas field working for Pan-African Tanzania Ltd.

The remedial work is to be completed by mid-August. When the work is done, the rig will complete its work at Songo-Songo before being turned over to the Nyuni partners in late September. TheCaroil-6 will spud Kiliwani-1, the first of two locations in the current Nyuni program, in the first half of October.

Aminex plans to drill two wells at Nyuni, the first of which will be directionally drilled from Kiliwani Island, which lies 1 km (0.6 mi) southwest of Songo Songo Island.

"Frustrating as this delay has become, we have used the time well to fine-tune our operational procedures, materials procurement, and supporting contracts," says Brian Hall Aminex chairman. "The delay is outside our control, but we may be confident that the rig, once it has passed inspection, will be in first class operational order."

Aminex subsidiary Ndovu Resources Ltd. operates the Nyuni license with 39% interest. Partners include Key Petroleum Ltd. with 20%, RAK Gas Commission with 25%, East Africa Exploration Ltd. with 10%, and Bounty Oil & Gas Ltd. with the remaining 6%.

8/7/2007

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