Aminex Raises Tanzania's Ruvuma PSC Gas Resource Estimate to 2.3 Tcf

Aminex PLC announced Thursday that interpretation of the newly acquired seismic data has extended the potential of the Ntorya appraisal area, and management has further increased its resource estimate to 2.3 trillion cubic feet (Tcf) (Pmean GIIP) by combining the Ntorya discovery with the adjacent Likonde prospect in its Ruvuma production sharing contract (PSC) in south-eastern Tanzania.

The new interpretation has shown that an additional target exists for an appraisal well that would intersect the Ntorya gas and condensate sands encountered in Ntorya-1 and an extension of the Lower Tertiary sands that were found to have oil and gas shows in the earlier Likonde-1 well to the north. This additional target has further increased the recently announced resource potential from 1.9 to 2.3 Tcf (Pmean GIIP).

The Likonde-1 well penetrated 318.2 feet (97 meters) of net sand with an average porosity of 17 percent within a 1,036 foot (316 meter) gross Lower Tertiary sand sequence with hydrocarbon shows and a deeper Jurassic zone, containing 820 feet (250 meters) of stacked sandstones with extensive oil and gas shows. The deeper sandstones were not logged at the time, as the well was prematurely terminated in the deepest objective at 11,965 feet (3,647 meters) due to the influx of high pressure gas.

The new seismic interpretation, using the recently acquired higher quality 2D seismic data, shows that the Likonde prospect comprises two distinct channel sands of which the southern channel extends over the mapped Ntorya Cretaceous gas sand. Ntorya-1, drilled in 2012, did not encounter this Likonde Tertiary sand channel, which lies just north of the well, but discovered a deeper Cretaceous gas sand that tested 20 million cubic feet per day (MMcf/d) with 139 barrels of associated condensate.

Participants in the Ruvuma PSA are; Ndovu Resources Ltd (Aminex) 75 percent (operator) and Solo Oil Plc 25 percent.

Jay Bhattacherjee, Chief Executive Officer commented:

“The results of the newly acquired 2014 seismic program continue to confirm the significant hydrocarbon potential of the Ruvuma PSA. Based on the detailed and ongoing evaluation of the new seismic and well data, we believe there is potential for a liquids play. This would add further value to the discovered gas that would have access to market via the Dar Es Salaam-Mnazi Bay pipeline, which is on schedule to be completed by the year end and runs through our Ruvuma PSA.”