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.

More getting involved in Tanzania

http://allafrica.com/stories/201201250323.html


Tanzania Daily News (Dar es Salaam)

Tanzania: Three Firms Join Search for Oil, Gas

Pius Rugonzibwa

25 January 2012



The government has signed multi-billion shillings production sharing agreements (PSA) with Brazil's Petrobras, Heritage of Britain and India's Motherlands Industries for oil and natural gas exploration in various parts of the country.

The Heritage Managing Director, Mr Julian Hewood, expressed optimism for Tanzania to eventually strike oil in Rukwa and Lake Nyasa basin, saying the areas have geological similarities with Uganda's Lake Albert basin.

"We expect to spend about 15 million US dollars (about 25bn/-) on exploration annually, but we plan to spend more than 10 billion US dollars (about 15tril/-) on oil production if discovered," he said.

The company succeeded to discover oil in the Lake Albert rift basin in Uganda. Officials from Tullow Oil, a sister company Heritage had early this month told local media that the oil reserves discovered so far on the Ugandan side of the Lake Albert rift basin were estimated at 1 billion barrels.

Mr Samuel Miranda of Petrobras and Virendag Kumar Sood of Motherland said they would spend about 500 million US dollars each for five years on exploration and commended various government institutions for giving maximum co-operation.

The representatives of the firms expressed commitment in undertaking environmental friendly exploration in line with the country's law and regulations. The three multi-billion-shilling deals makes the number of licensed companies that have shown interest to undertake gas and oil exploration in the country reach 28.

The Minister for Energy and Minerals, Mr William Ngeleja, said at the signing ceremony at his office in Dar es Salaam, that Petrobras will go for hydrocarbons exploration in Block 8 deep offshore.

He said Heritage will undertake the exploration in Kyela Basin in Mbeya Region and northern and onshore portion of Lake Nyasa in Rukwa Region, while Motherlands will explore in Malagarasi River Basin in Kigoma Region.

The minister urged the firms to hire local people and ensure that their activities were not harmful to the environment. "I would like to stress the importance of local contents in the oil exploration and production as stated in the agreements which implies use of Tanzanian goods and services as well as human resources," he noted.

He said the doors were wide open for other investors to come to Tanzania, particularly in the energy sector. "I wish to invite more local and foreign companies to invest more in exploration for oil and natural gas and establish service companies," he stressed. The signing ceremony was also witnessed by the Brazilian Ambassador, Mr Francisco Carlos Soares Luz.

lud , do not forget tomorrow i am bringing a couple of my girls ,

?

lar . ok i will pay the tab

Looking perky again.

6% up and strong.

lar you have doubled your cash in these i was correct but do not sell
a lot more to come

Still a long way to go

LGO chart shows a classic, leak rise, followed by spike sellers, followed by actual news. Up, retrace, Up.






Will the AEX chart do the same, but with bigger rises on the news ?





.

I see Shares Mag has AEX tipped as a buy today.

Mistake though, they say AEX:AIM

ITS NOT AIM.

ITS MAIN MARKET listed, you can ISA Aminex.

lar next step will be hear soon

Perky again today.

keeping an eye here - shouldnt be long before over 6p imo

Not there yet then......... more to go.

http://www.investegate.co.uk/Article.aspx?id=201201270700152736W

Aminex PLC
NTORYA-1 DRILLING UPDATE
RNS Number : 2736W
Aminex PLC
27 January 2012

NTORYA-1 DRILLING UPDATE

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces a further update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.


The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. Ntorya-1 is expected to reach total depth around the end of January.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.


Partners in the well are:

Ndovu Resources Ltd (Aminex) 56.25% (operator)

Tullow Tanzania B.V. 25%

Solo Oil plc 18.75%

Interesting to read this report.

http://www.firstenergy.com/research/documents/Facts-C-ORC_B-2011-12-14.pdf

So first of all, Orca could lose the Songo Songo PSA (and Aminex might be in pole position to take it over if Orca are ejected from it).

We also have confirmation that the Chinese pipeline being built could bring gas from down south to the capital (and yes so if Ntorya-1 is gas this can connect into this pipeline and so infrastructure is being put into place for by default for a Ntorya-1 gas find - but oil is more valuable of course so oil please but if not then gas).

The potential to take over the Songo Songo PSA might be another reason our Thai/Chinese friends are involved, they put the financial clout behind Aminex so the Tanzanian government know that money is not a problem now, if they were to give the Songo Songo PSA to Aminex then progress would be fast.

proselenes, what do you see as a realistic chance of success at Ntorya ? in the
RNS they state 20% but that is normal in the oil industry.

Around 1 in 4 I say, so 25%.

Thats a good chance when it comes to drilling wildcats, but still 75% chance of failure.

News should be soon, anytime in the coming days IMO.

lar . i will be there at 4.30 tomorrow if the train is on time
see you in meg