23rd Aug 2018 12:16
LONDON (Alliance News) - Aminex PLC said Thursday it received "numerous bids" for a rig to drill its Chikumbi-1 well in Tanzania after completing a tender process.
Aminex said it is evaluating the bids on their "technical and commercial merits". The well, if successful, is expected to be produce gas for the Madimba processing plant and integrated into a full field development programme, the company explained.
Regarding its Kiliwani North-1 well, also located in Tanzania, the company said pressure has built up sufficiently and it is working to "stimulate the production as soon as possible".
In a separate statement, Solo Oil PLC, owner of a 25% stake in the Ruvuma PSA, where the Chikumbi-1 well is located, and a 7.55% interest in Kiliwani North-1 noted the announcement.
"We are pleased to see operational progress being made by Aminex in operations in Tanzania. The rig tendering process is an important step towards the planning and execution of Chikumbi-1, a well designed to further unlock the potential resources in the Ruvuma PSA," Solo Oil Chairman Alastair Ferguson said.
Aminex shares were trading up 5.1% at 1.84 pence each, while Solo Oil were trading up 2.0% at 2.29 pence.
Related Shares:
Aminex