Aminex Awarded New Acreage in Tanzania

Source: www.gulfoilandgas.com 6/2/2008, Location: Africa

Aminex awarded Production Sharing Agreement (“PSA”) in Tanzania. This new offshore PSA, known as Songo-Songo West, is adjacent to the western boundary of the producing Songo-Songo gas field and close to Aminex’s recent gas discovery at Kiliwani North, currently under test.

The new PSA is held 50% by Ndovu Resources Ltd., an Aminex wholly-owned subsidiary, and 50% by Funguo Petroleum Pty Ltd., a wholly-owned subsidiary of Key Petroleum of Australia (“Key”). Key, an existing 20% joint-venture partner with Aminex in the nearby Nyuni PSA which includes the Kiliwani North discovery, has been nominated operator of the new PSA for Songo-Songo West.

Songo-Songo West covers an area of 504 square kilometres and benefits from comprehensive, existing seismic coverage. The full PSA term is for eleven years and there is an obligation to drill one firm well in a first three year period.


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