Ruvuma Farm-Out Update

Source: www.gulfoilandgas.com 3/21/2019, Location: Africa

Aminex announces that all parties to the previously announced Ruvuma farm-out agreement have agreed to an extension to the long stop date to 31 July 2019. The Company and ARA Petroleum Tanzania Limited (“APT”) have made good progress on closing out the conditions precedent, including all joint venture partner approvals, and are actively engaged with the Government of Tanzania to close out the remaining conditions.

The principal conditions still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship. The Company and APT continue to work closely with the Tanzanian authorities to close out these conditions as soon as possible.

Jay Bhattacherjee, Chief Executive of Aminex PLC, said:

"Aminex and APT have had positive meetings with the Tanzania Government regarding the Ruvuma farmout and look forward to the continued support of the Tanzanian authorities in closing out these remaining conditions and, in so doing, facilitating the progression of the Ntorya Development and specifically the drilling of the Chikumbi-1 well."

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