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Date: Thursday 28 Jun 2012
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.