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Aminex PLC (LSE:AEX) shares surged to 1.70p, up 51.1%, in early London trade after the explorer confirmed active negotiations regarding its Tanzanian gas project. Recent local press reports surrounding the Ntorya Gas Development prompted formal public confirmation of the ongoing regulatory negotiations.
Aminex PLC (LSE:AEX) shares were lower in Monday's trade after announcing a £2.93 million (US$3.94 million) 'strategic' placing designed to fund operations until its first gas revenues from the Ntorya field, next September. Some 177.27 million new shares were sold at 1.65 pence each, and, the company said the placing replaces further use of an existing facility with its largest shareholder, Eclipse Investments.
Aminex PLC (LSE:AEX) shares climbed in Wednesday's trade after it reported progress on Tanzania's Ntorya gas development after meetings with state entities this week, including a construction schedule for the pipeline to the Madimba plant. Contractors have begun procurement, mobilisation of equipment is slated for September, the company said, whilst adding that groundwork and pipelaying work is due to start in January, with completion targeted for July 2026.
Aminex PLC (LSE:AEX) shares advanced close to 20% in Monday morning's deals, to trade at 1.2p, after the Tanzanian authorities detailed a new addendum to agreements for gas projects. The company, in a statement, relayed to investors the reported benefits which include the government's commitment to the development of gas resources as soon as possible, support to accelerate production from the Ruvuma asset, and, the construction of supporting infrastructure in the coming six-to-nine months.
Scirocco Energy PLC (AIM:SCIR) and Aminex PLC (LSE:AEX) flagged that the project in Tanzania is “approaching exciting times” as a seismic programme undertaken by operator ARA Petroleum has confirmed sufficient data to pinpoint a final drilling position for the upcoming Chikumbi-1. The well is slated to spud in November, and, the AIM-quoted firms today told investors that the well remains on schedule.
Wentworth Resources PLC (AIM:WEN) has struck a deal to acquire Scirocco Energy PLC's (AIM:SCIR) 25% stake in Aminex PLC's (LSE:AEX) Ntorya field development project in Tanzania. It is a deal that has made sense on paper for some time given that Scirocco has been open to sale and that Ntorya lies adjacent to Wentworth's 32% owned flagship Mnazi Bay gas field.
Aminex PLC (LSE:AEX) told investors that progress is being made ahead of a seismic data acquisition programme which will be a precursor to well drilling later this year. Contractor Africa Geophysical Services (AGS) is presently completing mobilisation, with all equipment expected to site by mid-February with the survey set to follow thereafter.
Aminex PLC (LSE:AEX) told investors the first phase of 3D seismic project has begun at the Ruvuma project, in Tanzania. Project operator ARA Petroleum confirmed preparation work has been underway since November 15 and line clearance work is due to start next week.
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