Tanzania: Aminex wins Omani investment

Issue 328 - 22 Jul 2016 | 1 minute read

AIM-listed Aminex has announced a share placing and open offer to raise £19.5m ($25.4m) with Oman’s Zubair Corporation acting as cornerstone investor. The fundraising follows the start of gas production at the Kiliwani North field in April. Proceeds will be used principally to finance the drilling of the Ntorya-2 appraisal well and the Ntorya-3 exploration well on the Ruvuma licence. The Ntorya-1 discovery drilled in 2012 tested 20mcf/d of gas, with 139 b/d of associated condensate.

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