Ruvuma

In this important year for Aminex, on the Ruvuma PSA in Tanzania, with the seismic acquisition programme and the drilling of the Chikumbi-1 (“CH-1”) well, the Company can advise that operational activities continue to progress under the direction of the operator, ARA Petroleum Tanzania Limited (“APT”). Whilst seismic operations continue, APT has further advanced the well planning for the CH-1 well with all long lead items contracts now executed. APT reports a target spud date for the CH-1 well in November 2022. Aminex, with a 25% non-operated carried interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex) and is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field, scheduled for the end of 2024, at zero cost to the Company.

Kiliwani North

Aminex considers that any future drilling on the Kiliwani North Development Licence (“KNDL”) is contingent upon an improved seismic resolution of the prospective target structures. The Company has reached an agreement with Pan African Energy Tanzania (“PAET”) to utilise their high-resolution 3D seismic campaign, targeting a mid-year start, to receive approximately 12.5km² of valuable new highresolution 3D coverage over KNDL, at no cost to the Kiliwani North joint venture. PAET will be acquiring high-resolution 3D seismic over the adjacent producing Songo Songo field, and the Kiliwani North joint venture will allow PAET to partially overlap the KNDL area to enable full-fold processing of the new 3D dataset up to the Songo Songo and KNDL boundary.

This coverage, which represents over 40% of the critical area of the licence, will enable Aminex to link the new high-resolution 3D data to its existing 2D seismic legacy data which currently covers the KNDL with an irregular seismic grid. This should significantly improve both fault resolution and reservoir horizon mapping; both considered to be essential to understand the compartmentalised nature of the reservoir.

Nyuni Area

More than two years have passed since Aminex first notified the Ministry of Energy to move into the Second Exploration Period (“SEP”) of the Nyuni Area PSA. Despite a number of exchanges with the Tanzanian authorities, the terms for entry into the SEP have not been agreed. Throughout, Aminex has sought an industry partner to progress a work programme on Nyuni with no success. Accordingly, the Company has opened discussions with the Tanzanian authorities regarding the return of the licence to the Ministry of Energy. 

Summary of assets

Development Focus (Ruvuma PSA)

• 25 year Development Licence applied for over Ntorya Area
• 763 BCF 2C Resource within the Ntorya development area(1)
• Extension over Mtwara Licence is supported by TPDC and PURA pending approval by Ministry

Production Focus (Kiliwani North Development Licence)

• Licence expires 2036 with no further commitments
• The company is preparing for a low cost remediation of the Kiliwani North-1 well in order to restart production
• Existing gas sales agreement and gas plant with capacity to tie in any new wells

Exploration Focus (Nyuni Area PSA)

• Company focussed on structural and stratigraphic targets in shallow water close to existing infrastructure
• Multi TCF resources have been identified and the area is adjacent to large and significant producing gas fields
• Potential to combine seismic programmes with Kiliwani North in order to spread costs between programmes

(1) RPS 2018 Competent Person’s Report

KeyFacts Energy: Aminex Tanzania country profile