16th Mar 2015 08:28
LONDON (Alliance News) - Aminex PLC on Monday said authorities in Tanzania have agreed to the deferral of the two-well drilling commitment on the Nyuni Area production sharing agreement.
The drilling had been due to be completed by the end of October this year, but the Tanzanian authorities have agreed to extend the agreement to 2019.
Aminex said the deferral is conditional on an environmental impact assessment, which has already started, and the acquisition of 3D seismic data in the deep water area of the licence.
"Aminex is grateful for the support of the Tanzanian authorities for the variation of the work programme through the deferral of well obligations to enable exploration on the deep water sector of the licence," said Aminex Chief Executive Officer Jay Bhattacherjee.
Shares in Aminex were up 3.7% to 2.047 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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