Aminex PLC Updates the Nyuni Area 2D Seismic

Aminex PLC, 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, announces an update on the current 2D seismic transition zone survey within the Nyuni Area PSA (Nyuni Area), offshore Tanzania.

As previously reported on May 30th 2012, Aminex is acquiring 335 km of 2D seismic data in the transition zone of the Nyuni Area licence using ocean bottom cable technology. To date approximately 141 kilometres of full-fold data has been acquired, equivalent to 42% of the entire survey.

In recent weeks the survey has experienced downtime due to rough seas in the shallow waters of the transition zone as a result of seasonal weather. To reduce downtime costs and ensure optimum data quality Aminex has reached a mutual agreement with the seismic contractors to suspend temporarily the survey until late October when survey work in the transition zone is expected to resume. In the meantime, Aminex is in discussion with seismic contractors to acquire conventional 2D marine seismic in the deep-water portion of the Nyuni Area licence.

The combined transition zone and deep-water seismic programmes will fulfil and exceed the 800 kilometres of seismic work required under the initial work period of the Nyuni Area PSA. Both surveys have been designed to image the stratigraphic plays that are currently proving so successful in the deeper water areas offshore Tanzania and northern Mozambique.

Participants in the Nyuni PSA are: Ndovu Resources Limited (Aminex) 70% (Operator); RAK Gas Commission 25%; and Bounty Oil and Gas NL 5%.

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