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Aminex Signs New PSA For Songo-Songo West in Tanzania

06-03-2008

Oil and gas company Aminex has been awarded a new 11-year Production Sharing Agreement (PSA) in Tanzania.

The new PSA is known as Songo-Songo West and is offshore, adjacent to the western edge of the Songo-Songo gas field, and also near to Aminex’s recent gas discovery at Kiliwani North.

“Based on extensive knowledge we have gained through exploring the region over several years we consider that the new PSA has high potential for the discovery of commercial quantities of hydrocarbons,” said Aminex chairman, Brian Hall.

The other PSA for Aminex is Nyuni PSA, near Songo Songo West, where it is testing after discovering gas there recently in a field known as Kiliwani North.

Ndovu Resources Ltd, a subsidiary of Aminex, will hold 50 percent and Funguo Petroleum Pty Ltd., a subsidiary of Australia's Key Petroleum will hold the rest.

Aminex said Key, which has 20 percent shareholding in the Nyuni PSA, had been nominated to operate the Songo-Songo West.

Gas discoveries in Tanzania, and oil discoveries on the border between Uganda and Congo has raised interest in the region, which had been largely overlooked.