Continental Focus, International Reach

Aminex and APT Extend Farm-out Agreement

Sunday, March 24, 2019

Aminex revealed that all parties to the previously announced Ruvuma farm-out agreement have agreed to an extension to the longstop date to July 31. According to Aminex, it and ARA Petroleum Tanzania Limited (APT), have made good progress on closing out the conditions precedent, including all JV partner approvals, and are actively engaged with the government of Tanzania to close out the remaining conditions.

The principal conditions still to be met are the extension of the Mtwara License and approval by the Tanzanian government of the transfer of the interest and operatorship. Aminex and APT continue to work closely with the Tanzanian authorities to close out these conditions as soon as possible.

Jay Bhattacherjee, Chief Executive of Aminex PLC, said: “Aminex and APT have had positive meetings with the Tanzania Government regarding the Ruvuma farmout and look forward to the continued support of the Tanzanian authorities in closing out these remaining conditions and, in so doing, facilitating the progression of the Ntorya Development and specifically the drilling of the Chikumbi-1 well.”


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