This is the article:Aminex subsidiary awarded Kiliwani North...

This is the article:

Aminex subsidiary awarded Kiliwani North licence

StockMarketWire.com - Aminex's Tanzanian subsidiary, Ndovu Resources, has been awarded a development licence for the Kiliwani North gas field.

Aminex says this is a major step in bringing the field on to production.

The development licence represents an area carved out of the Nyuni East Songo-Songo production sharing agreement which includes the mapped area of the Kiliwani North gas field.

The Kiliwani North-1 well flowed gas at a rate of 40 million cubic feet per day (equivalent to 6,700 barrels of oil per day) under full production test conditions.

Ndovu manages the Nyuni PSA and the Kiliwani North gas field as operating partner for a four-company consortium.

Aminex chairman Brian Hall said: "We are very pleased to have been granted this development licence, which represents a major landmark in our Tanzanian operations.

"The development Licence will also benefit Tanzania, paving the way for a further energy source in a market with high and urgent demand.

"Kiliwani North is well situated, close to a major pipeline, and the development licence will now enable us to negotiate agreements to access processing and transportation facilities.

"The existing pipeline has limited capacity but we may expect development of new pipeline infrastructure as a consequence of recent deep water gas discoveries."

Partners in the development licence are: Ndovu (Aminex) 65%; RAK Gas Commission 25%; Key Petroleum 5% and Bounty Oil 5%.

http://www.stockmarketwire.com/display/?id=4124109§ionId=standardNews

Bounty's share of 6,700 barrels per day at say $80 a barrel is 5% of 6,700 x 80 = $22,800 or $8m a year which is a nice little earner for a company with a market cap of $26m if it gets into production.

There has been plenty of accumulation at 3.5-3.6c these past few days. Aminex plc share price has gone from 7.6p to 8.55p on the strength of these announcements I'd guess. It was 7.6p on 15 March when the rig contract was announced.

Those in the know have been quietly buying up. Rest of the market seems to have been oblivious because BUY has not announced any of these developments.