Aminex extends bidding period for Ruvuma Basin farm-out

Aminex, an exploration company focused on East Africa, said Tuesday that it has extended the bidding period for its proposed farm-out of an interest in the onshore Ruvuma Basin, Tanzania, where it made a discovery of natural gas and condensate in 2012.

Aminex, an exploration company focused on East Africa, said Tuesday that it has extended the bidding period for its proposed farm-out of an interest in the onshore Ruvuma Basin, Tanzania, where it made a discovery of natural gas and condensate in 2012.

The extension was made at the request of several interest parties, the firm said, adding that the bidding process is now likely to be completed in March.

Aminex Chairman, Brian Hall, said: "We are very pleased with the strong interest shown in our Ruvuma PSA and have decided to keep the farm-out process open for longer than originally anticipated to accommodate a number of interested parties. I look forward to updating the market in due course."

Aminex has a 75% interest in the Ruvuma production sharing contract and the remaining 25% is held by Solo Oil.

The share price rose 3.9% to 4.00p by 09:10.

NR

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