LONDON (ShareCast) - (ShareCast News) - Drilling of a second well at a Tanzanian projected operated by Aminex, where Solo Oil is a partner, has resulted in a "material increase" in the estimated amount of gas initially in place.
After two gas wells were drilled, the companies calculated there was a prospective mean GIIP of 466bn cubic feet, three times the previous estimate of 153 BCF from two years ago.

Fully listed Aminex was able to upgrade the resource estimate following drilling and testing of the Ntorya-2 appraisal well earlier this year, which encountered a net pay zone of 31 metres and tested gas at an average flow rate of 17m standard cubic feet per day.

The estimates only cover the Ntorya area, which is just part of Aminex's 75%-owned Ruvuma onshore project, with Solo owning a 25% non-operating interest in the Ntorya appraisal area and the two wells.

Amine chief executive Jay Bhattacherjee said: "A tripling of resources in the Ntorya appraisal area is clearly excellent news for shareholders and partners and highlights that the Ruvuma PSA is a basin that is of national importance for Tanzania.

"We continue to work directly with the Government to gear the near-term work programme to fast track production to both local industry and ultimately into the national pipeline."

Aminex said it was now the process of applying for a 25-year development licence and is working with the Tanzanian government to fast-track gas production.

The company's geologists are updating their wider modelling of Ruvuma "to optimise the likelihood of intersecting the maximum stratigraphic reservoir sections and to target potentially liquid hydrocarbons bearing reservoirs in future wells, including Ntorya-3".

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE