Offshore staff
LONDON -- Aminex has a full exploration program planned in East Africa for 2007 and beyond.
In the Nyuni license offshore Tanzania, Aminex plans to drill two exploration wells in 2007. The first well is likely to be spudded toward the end of the second quarter. Aminex and its partners have acquired extensive new seismic data over shallow reefs and islands and are close to finalizing the location for the first Nyuni well in the current program.
Partners in Nyuni are Aminex with 84% interest, Bounty Oil with 6% interest, and East Africa Exploration Ltd. with 10% interest. Discussions with East Coast Energy Ltd. subsidiary Pan-African Tanzania Ltd. are continuing.
Aminex is also active in Tanzania's Ruvuma production sharing agreement, which consists of adjacent licenses Lindi and Mtwara. About 20% of the PSA is offshore. The Ruvuma PSA was signed in October 2005, bringing with it a commitment to drill two wells in an initial four-year period and to shoot 500 km (311 mi) of new seismic data. The first phase of this seismic survey has now been shot.
In early 2006 Ndovu farmed out 50% of the PSA to Hardman Resources Ltd., which earns its share through acquiring further seismic, which is not yet completed. In late 2006, Hardman's was acquired by Tullow Oil Plc. With this acquisition, Tullow becomes a partner in the Ruvuma PSA. A further seismic contract is likely to be signed shortly. The survey is planned for 2Q 2007.
Further north, in nearshore blocks L17 and L18 off Kenya, an Aminex subsidiary holds 25% interest in a technical evaluation agreement. Blocks L17 and L18 were formerly part of larger blocks L9 and L10 and have recently been redesignated. Together they cover 5,000 sq km (1,931 sq mi). Partners in the TEA are Upstream Petroleum Services Ltd. and SomKen Ltd.
The group acquired over 700 km (270 mi) of new 2D marine seismic in 2006, carrying out seabed core sampling at the same time. Negotiations for conversion of the TEA to a full PSA have been ongoing for some time, but the partners are confident that a PSA will be successfully concluded in the near future. Aminex jointly operates the TEA.
2/5/2007
