Aminex Sees Ruvuma Reserves Rise

Tuesday, September 9, 2014

Aminex saw its reserves in Tanzania increase. The company said that the new interpretation over the Ntorya discovery in the Ruvuma PSA from its newly acquired seismic shows that Likonde and Nyorya are connected at the Cretaceous level. Based on the recent 2014 seismic program, management estimates of the resources have increased from 1.2 Tcf to 1.9 Tcf (Pmean GIIP).

CEO Jay Bhattacherjee commented, “We are highly encouraged by the results from the seismic program. The increase in resource confirms the world-class potential of Ruvuma, which is being proven in the offshore blocks. We look forward to updating shareholders with our developments.”

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