AEX Aminex Plc

TIDMAEX

RNS Number : 6224Y

Aminex PLC

23 August 2018

23(rd) August 2018

Aminex plc

("Aminex" or "the Company")

Operational Update

Aminex is pleased to provide the following update on its operations in Tanzania.

Ruvuma PSA

The tendering process for a rig to drill Chikumbi-1 (CH-1) is now complete and the Company has received numerous bids. These bids are being evaluated on their technical and commercial merits. CH-1 is located updip from both the Ntorya-1 discovery well, which tested at rates of up to 20 MMcf/d with 139 bbls of condensate, and from the Ntorya-2 well which tested at a stabilised rate of approximately 17 MMcf/d. The well is expected to delineate the Ntorya gas field in a significantly thicker section of the Cretaceous reservoir system and is also being planned to evaluate a potential deeper exploration target in the Jurassic formation. If successful, CH-1 is expected to be produced into the existing Madimba Gas Processing Plant and ultimately integrated into a full field development programme.

Kiliwani North-1

Pressure at the Kiliwani North-1 well has sufficiently built up and the Company continues to work with all parties to stimulate the production as soon as possible.

Jay Bhattacherjee, Chief Executive Officer of Aminex said:

"The Company continues to progress the completion of the proposed farm out transaction while driving forward operations over its key assets at Ruvuma and Kiliwani North."

Ends

Aminex PLC

Jay Bhattacherjee, Chief Executive Officer +44 (0) 20 3198 8415

Max Williams, Chief Financial Officer

Shore Capital

Jerry Keen +44 (0) 20 7408 4090

Davy

Brian Garrahy +353 (0) 1 679 6363

Camarco

Billy Clegg / Gordon Poole +44 (0) 20 3757 4983

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END

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August 23, 2018 02:00 ET (06:00 GMT)

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