Tanzanian Ministry of Energy and Minerals has approved Aminex's request to acquire an additional 15% working interest from Key Petroleum in the Nyuni East Songo-Songo production sharing agreement offshore Tanzania. As previously reported, the agreement was subject to only one condition; Aminex is acquiring the additional 15% interest through undertaking to pay 20% of the costs of drilling the Nyuni-2 well, due to be spudded in April this year.
After the farm-in, Aminex, the operator, will have a 65% interest in the Nyuni PSA, held through its wholly-owned subsidiary Ndovu Resources, including existing gas discoveries. Other interests in the Nyuni PSA will be: RAK Gas Commission 25%, Key 5% and Bounty Oil & Gas Pty Ltd. 5%.
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