Project Profile

Location: onshore and offshore presents in both Tanzania to the north and Mozambique to the south, Tanzania
Reserves: 36.82 bcm  (Pmean estimate of GIIP) - Ntorya site only
Area: 6,077km2


Ruvuma is one of the last under-explored major river basins in Africa, with onshore and offshore prospects present in both Tanzania to the north and Mozambique to the south. Aminex and partners hold the rights to virtually all the onshore Tanzanian acreage in the basin. Exxon-Mobil, BG, Statoil and Ophir hold contiguous, adjoining offshore acreage. On the Mozambique side, Anadarko and partners drilled the Windjammer deep water gas discovery in early 2010 and have an ongoing drilling programme.

Likonde-1 was drilled by Aminex and partners in early 2010 and TD’d at 3,647 metres. Likonde-1 intersected two sandstone intervals of over 250 metres (820 feet) combined thickness with high gas readings and physical evidence of residual oil. Drilling had to be terminated in the deepest objectives due to high gas influx. Ntorya-1 was drilled in early 2012 and encountered 3 metres net bearing pay and 16.5 metres of further possible pay. The well is scheduled for flow testing in June 2012. A 2D seismic programme took place in late 2012. Senergy completed a technical evaluation on the resources of Ruvuma PSA on May 2015. In 2015, Solo Oil reached in agreement with Aminex to farmout a 12.5% net working interest in the Ruvuma PSA in Tanzania to Aminex in a back-to back agreement which will see Bowleven, an AIM listed oil and gas company, join the Ruvuma PSA joint venture with a 50% net working interest.

A one-year extension is approved by the TPDC for the licence term for the Mtwara Licence of the Ruvuma PSA , which was due to expire late December 2016. Furthermore, Aminex completed discussions with the TPDC with regards to transferring the drilling obligations in the northern Lindi Licence covered by the Ruvuma PSA into the southern Mtwara Licence, which includes the appraisal area for the Ntorya discovery. Aminex intends to drill the Ntorya-2 well to satisfy the appraisal drilling obligation and then to apply for a 25-year development licence subject to its success.(June, 2016)


Operators:

Ndovu Aminex: Operator with 75% interest

Solo Oil Plc: 25% interest



Contractors:

FirstEnergy: Technical advisory services to manage a formal farm-out process for the PSA

Senergy: Contract to undertake technical evaluation on the resources of Ruvuma PSA (May 2015)