History of Aminex

Originally incorporated as Eglinton Oil & Gas Limited in 1979, Aminex PLC was created in 1991 from a series of corporate transactions involving two Irish public companies, one US Nasdaq company and one UK private company.  Over the following 10 years, Aminex would own producing and exploration assets in the USA, New Zealand, Papua New Guinea, Egypt, Tunisia, Russia, Pakistan and elsewhere.

Key Events

2002

  • Aminex turned its focus to Africa and acquired Tanzoil NL, an Australian private company, through an exchange of shares.  Tanzoil was the parent of Ndovu Resources Limited which held three licences in Tanzania, including the Ruvuma Technical Evaluation Licence.

2003

  • Aminex spudded its first well in Tanzania, Nyuni-1, which encountered gas shows but did not justify testing.

2004

  • Aminex became a 10% carried shareholder in Aminex Petroleum Egypt Limited.

2005

  • The Ruvuma Technical Evaluation Licence was converted to a full PSA.
  • Aminex participated in awards of offshore acreage in Madagascar and Kenya, both of which were subsequently sold for cash or swapped out for other acreage with joint venture partners.

2006

  • Aminex Petroleum Egypt Limited signed an 11-year PSC for the onshore West esh el Mellaha concession on the Red Sea coast, with Aminex carried through to first commercial production. 
  • Aminex transferred operatorship and farmed out 50% of Ruvuma to Hardman Resources, which was acquired by Tullow Oil soon afterwards.

2007

  • Kiliwani-1 and Kiliwani North-1 wells drilled back-to-back.

2008

  • Kiliwani North-1 encountered a 60-metre gas interval and tested gas at 40 MMscf/d. 
  • First of four wells in Egypt were spudded.

2010

  • Aminex farmed out a quarter of its interest in Ruvuma to Solo Oil PLC (now Scirocco Energy PLC). 
  • Likonde-1 well drilled by Tullow Oil at Ruvuma.  Thick reservoir interval encountered with traces of migrated hydrocarbons.  Well not tested.

2011

  • The original Nyuni PSA expired and was renewed over a similar area, renamed the Nyuni Area PSA. 
  • A development licence was granted for the Kiliwani North discovery.

2012

  • Aminex took over Tullow Oil’s interest in Ruvuma and re-assumed operatorship. 
  • Ntorya-1 was drilled in Ruvuma which tested gas at 20 MMscf/d. 
  • Appraisal licence granted for the Ntorya area.

2013

  • Aminex acquired Canyon Oil & Gas Limited with interests in Moldova for an exchange of shares.  Canyon deal introduced new management into Aminex.

2014

  • Infill 2D seismic data acquired over Ruvuma.

2015

  • Working interest in Egypt converted to royalty interest after fifth well registered a small commercial discovery.

2016

  • Gas production flowed from Kiliwani North.
  • Aminex raised £19.5 million through a cornerstone placing and open offer, with Eclipse Investments LLC, an affiliate of The Zubair Group of Oman, becoming the company’s largest shareholder.

2017

  • Successfully drilled Ntorya-2 appraisal well which tested at a stabilised rate of 17 MMscf/d.
  • Submitted application for Ntorya Development licence.

2018

  • Competent Person’s Report (CPR) from RPS Energy independently audited the Ntorya Gas location and assigned a 12-fold increase in Mean GIIP, with resources increased from 153 BCF to 1,870 BCF, and mean recoverable resources (2C) increased from 70 BCF to 763 BCF.
  • Aminex agreed to farm-out a 50% interest in Ruvuma to ARA Petroleum Tanzania (APT), an affiliate of its largest shareholder, Eclipse Investments LLC, in return for $5 million and a carry of up to $35 million of its costs in the development of the Ruvuma asset.

2020

  • Ruvuma farm-out completed and operatorship transferred to APT.

2021

  • Contract for acquisition of 338 km² of 3D seismic data over the Ntorya location awarded to Africa Geophysical Services Limited (AGS).
  • Aminex reached settlement with the Tanzania Petroleum Development Corporation (TPDC) over outstanding monies for past gas sales from Kiliwani North.

2022

  • APT's revised mapping and internal management estimates suggested a risked prospective gas in place ("GIIP") for the Ntorya accumulation of 3,024 BCF (gross basis, mean case), in multiple lobes to be tested, and a prospective risked recoverable gas resource of 1,990 BCF (gross basis, mean case).
  • 3D seismic acquisition over the Ntorya location completed by AGS.
  •  New Gas Addendum to the Ruvuma PSA agreed and signed by all parties.

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