Tullow Opts Out of Deepening Tanzania Well

Aminex PLC announced an operational update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.

On February 7, 2012, it was announced that the drilling had been temporarily suspended at a depth of 8,202 feet (2,500 meters) pending further evaluation. Intermediate logging and check shot data have been evaluated and it has been decided to continue drilling. An additional target has been identified on the seismic data at a depth of approximately 9,022 feet (2,750 meters) and the well will now be deepened to test that objective.

Drilling operations have restarted and it is expected that the new target will be reached within a week.

Tullow Tanzania B.V. has elected not to participate in the well deepening activities which will be undertaken by Ndovu Resources Limited (Aminex) and Solo Oil. Aminex and Solo Oil will be responsible for the cost of deepening the well in proportion of their respective interests.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 9 miles (14 kilometers) to the north.