BUY has 5% of Kiliwani NFrom Aminex PLC half yearly report...

BUY has 5% of Kiliwani N

From Aminex PLC half yearly report released 15 Aug 2009
Under the following headings:

Outlook

The new seismic survey recently completed over Songo-Songo Island will help define and quantify the Kiliwani North discovery and enable development plans to be made. The destination for Kiliwani North gas is clearly the Songas pipeline to Dar es Salaam and Aminex has recently been informed by the government of Tanzania that obstacles to necessary expansion of a process plant, which will enable access for Kiliwani North gas, are likely to be overcome in the near future.


NYUNI PSA INCLUDING THE KILIWANI NORTH GAS DISCOVERY, offshore Tanzania.

A new seismic survey has recently been completed and data is currently being processed and interpreted to define the extent of the Kiliwani North discovery. Existing seismic data over the remaining leads and prospects on the Nyuni licence is also being reprocessed and interpreted, already establishing that robust, additional drillable prospects can most likely be defined without further seismic acquisition. The Kiliwani North discovery well is approximately 3 kilometres from the entry point of the Songas pipeline which currently carries gas to market 200 kms away in Dar es Salaam. However, the Songas plant requires upgrading to handle Kiliwani North gas and the pipeline operator has experienced delays in obtaining consent for the work required. Aminex has carefully reviewed all the alternatives for commercialising Kiliwani North gas and has concluded that the Songas pipeline is by far the most viable option. Recently the government of Tanzania has advised that approval of the plant should be forthcoming in the near future.