The east Africa-focused oil company, Aminex, says an intermediate casing string has been set on its Ntorya-1 well onshore in Tanzania.
The well was spudded on December 22nd 2011 and had been drilled to 1,535 metres before the casing operations. It will now continue to approximately 1,800 to 1,900 metres.
It's hoped target depth will be reached by the end of January.
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The news on the casing string saw the stock drop 6.6% by 10:25am. Over the last 12 months Aminex has lost 41% of its value.
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