Tanzania: Aminex farm-out

Aminex subsidiary Ndovu Resources Limited has signed a farm-out agreement with Omani conglomerate The Zubair Corporation for a 50% working interest in the Ruvuma production sharing agreement. Aminex, which will receive $5m in cash plus carry costs of $35m in respect of its remaining 25% interest, said the farm-out would accelerate the development of the Ntorya gas project while reducing the cost to the company.