27th Aug 2026 12:19
Aminex PLC - Tanzania-focused oil and gas company - Confirms that it is in talks with Tanzania's Ministry of Energy, the Tanzania Petroleum Development Corp, the Petroleum Upstream Regulatory Authority and ARA Petroleum Tanzania Ltd, with a view to progressing the implementation of the Ntorya gas development. Notes Ntorya's "relevance to the ongoing implementation of [the] strategically important [Ruvuma] project." Says it will make further announcements "in due course, as appropriate."
Last week Friday, Aminex said its subsidiary Ndovu Resources Ltd issued a notice of dispute to ARA Petroleum Tanzania Ltd and its parent company Zubair Corp LLC. The notice was motivated by alleged breaches of obligations by ARA Petroleum under the farmout agreement and the joint operating agreement regarding the Ntorya gas development project. Back then, Aminex noted that following the issue of the notice, Ndovu and ARA Petroleum had 90 days to find an amicable resolution to the dispute. After this period if no amicable resolution is found, Ndovu may escalate the dispute to the London Court of International Arbitration and pursue its rights against Zubair as the parent company.
Current stock price: 1.45 pence each, up 29% on Thursday afternoon in London
12-month change: down 24%
By Tom Budszus, Alliance News slot editor
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