Aminex Spuds Well Offshore Tanzania

Aminex announced the spudding of the Nyuni-2 well, offshore Tanzania. The well spudded shortly after 00:00 hours this morning, local time, June 17.

Nyuni-2 is being drilled from a surface location on the small Nyuni Island, approximately 30 kilometers off the mainland of Tanzania, to the south of the Rufiji River delta, using the Caroil-6 land rig. The well will target the same Neocomian sandstones which form the reservoirs in the nearby Songo-Songo gas field and in the Company's own Kiliwani North gas field reservoir. An additional target is an Aptian/Albian sandstone reservoir which was logged as gas-bearing in the Nyuni-1 well, which was drilled but not tested in 2004.

Nyuni-2 will be deviated to the south-east at an angle of 29 degrees from vertical to target a bottom-hole location approximately 1.200 meters away from the island. Total measured depth is likely to be 3,325 meters and total vertical depth 2,964 meters subsea. It is estimated that drilling to target depth will take 9-10 weeks.

Nyuni-2 will be the fourth exploration well drilled in the Nyuni area by Aminex as operator, and two of the previous wells discovered gas in commercial quantities.

Significant drilling events at Nyuni-2 will be reported to shareholders when appropriate.

Partners in the well are:

• Ndovu Resources (Aminex) 65% (operator)
• RAK Gas 25%
• Bounty Oil 5%
• Key Petroleum 5%