Aminex Provides Tanzania Drilling Update

Source: www.gulfoilandgas.com 2/11/2008, Location: Africa

Aminex provided the following report on the end of drilling of Kiliwani -1, the first of its current two well programme in Tanzania. Drilling of Kiliwani-1 is now complete at a total measured depth of 2,570 metres. A number of sands were encountered over the target section in the well together with background gas. Electric wire-line logging and pressure sampling have been extensively performed over these intervals but initial results indicate that the primary Neocomian target does not warrant further investigation at this location as no commercial hydrocarbons were identified. Kiliwani-1 will now be plugged and abandoned and the drilling rig relocated to Songo-Songo island to commence drilling of the next well in the programme, Kiliwani North -1, which will test a potential new oil play in the Nyuni Block.

Aminex Chairman Brian Hall commented: "We were of course hoping for a better result from Kiliwani -1 but frontier exploration drilling inevitably carries high risk. We have however accumulated significant and valuable new technical knowledge from this operation which indicates that, although the Neocomian target sands were encountered below the gas-water contact of the adjacent Songo-Songo Gas Field, there appears to be potential for oil as well as gas in this part of the block.

Looking forward, the next well in the programme, Kiliwani North-1, will be testing both the Songo-Songo Gas Field reservoir system and a shallower Tertiary structure. Kiliwani -1 was drilled on the flank of this Tertiary structure and intersected a sandstone horizon at the mapped depth level. Kiliwani North-1 will test the same reservoir interval but up-dip and within an anticlinal structure.

Participants in the Nyuni/East Songo-Songo PSA are:
Ndovu Resources Ltd. (Aminex) 39% (operator)
Key Petroleum Ltd. 20%
RAK Gas Commission 25%
East African Exploration Ltd. 10%
Bounty Oil & Gas NL 6%



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