1st Apr 2015 07:00
Aminex plc
("Aminex" or "the Company")
Corporate Update
Regional Pipeline Complete
Notice of Results and Date of AGM
Aminex's preliminary results for the year ended 31 December 2014 will be released on 14 April 2015 and the Annual General Meeting will be held in Dublin on 20 May 2015. Further details for the Annual General Meeting will be published in the Notice of Meeting in due course.
The Company has been informed by the Tanzanian Petroleum Development Corporation ('TPDC') that the new regional pipeline to Dar es Salaam is now complete and hydrostatic pressure testing will begin shortly. The construction of the processing plant on Songo Songo Island is approximately 95% complete and it is anticipated that the main pipeline contractor will hand over the management of the infrastructure including the processing plants to TPDC late Q3 2015.
Based on this indicative timetable from TPDC and the continuing progress with the Gas Sales Agreement, the Company expects commercial production will commence mid-year, with stabilised production rates achieved in the Q3 2015.
For further information:
| |
Aminex PLC | +44 20 7291 3100 |
Jay Bhattacherjee, Chief Executive Officer | |
Max Williams, Chief Financial Officer | |
Corporate Brokers | |
Shore Capital Stockbrokers-Jerry Keen | +44 20 7408 4090 |
Davy Corporate Finance-Brian Garrahy | +35 3 1679 7788 |
GMP Securities Europe LLP-Rob Collins | +44 20 7647 2816 |
Yellow Jersey PR (Financial PR) |
+44 7768 537 739 |
Dominic Barretto Kelsey Traynor |
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