LONDON (ShareCast) - Aminex, an exploration company focused on East Africa, has announced a successful test of its gas discovery in southern Tanzania.

The work on the Ntorya-1 well showed gas flowing at a maximum rate of 20.1m standard cubic feet per day (the equivalent of 3,350 barrels of oil per day).

Aminex’s Chief Executive, Stuard Detmer, commented: "Today's test results clearly demonstrate the strong commercial potential of the Ntorya discovery.

“The [...] potential is further enhanced by the presence of condensate with the gas and by the Tanzanian Government's announcement last week that it has secured financing to build a 36-inch diameter gas pipeline from Mtwara, just 25 km away from the Ntorya-1 discovery, to Dar es Salaam.”

Aminex shares were up 12% at 11:49.

BS

• News Channel