Aminex comes up trumps in Tanzania

28th Jun 2012 11:40

Aminex, an exploration company focused on East Africa, has announced a successful test of its gas discovery in southern Tanzania.The work on the Ntorya-1 well showed gas flowing at a maximum rate of 20.1m standard cubic feet per day (the equivalent of 3,350 barrels of oil per day).Aminex's Chief Executive, Stuard Detmer, commented: "Today's test results clearly demonstrate the strong commercial potential of the Ntorya discovery. "The [...] potential is further enhanced by the presence of condensate with the gas and by the Tanzanian Government's announcement last week that it has secured financing to build a 36-inch diameter gas pipeline from Mtwara, just 25 km away from the Ntorya-1 discovery, to Dar es Salaam."Aminex shares were up 12% at 11:49.BS