Aminex Expects Nyuni Well to Spud in October

Aminex issued the following update on its forthcoming drilling operations in Tanzania:

As previously announced, the Caroil-6 drilling rig, for which Aminex and partners have a contract to drill two exploration wells on the Nyuni license offshore Tanzania, experienced delays due to the need for remedial work and upgrading. The Caroil-6 rig is currently on location in the adjoining Songo-Songo gas field working for Pan-African Tanzania Ltd.

Current information is that remedial work to the rig will be completed by mid-August following which it will complete its work at Songo-Songo. It is anticipated that the rig will be delivered to the Nyuni partners in late September and will be ready to spud Kiliwani-1, first of two locations in the current Nyuni program, in the first half of October.

Aminex Chairman Brian Hall commented: "Frustrating as this delay has become, we have used the time well to fine-tune our operational procedures, materials procurement and supporting contracts. The delay is outside our control but we may be confident that the rig, once it has passed inspection, will be in first class operational order".

The Nyuni partners are:

Ndovu Resources Ltd. (operator)              39%(wholly-owned by  Aminex)
Key Petroleum Ltd.                           20%
RAK Gas Commission                           25%
East Africa Exploration Ltd.                 10%
Bounty Oil & Gas Ltd.                        6%

Elsewhere in the region, Aminex has commenced major onshore seismic programs in the Ruvuma Basin of Tanzania and over the Manja license in Madagascar, in preparation for drilling in 2008.

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