M a r k e t N e w s

Irish oil & gas explorer Aminex to boost up its work in Tanzania

Posted on : Friday , 15th February 2019

Irish oil & gas explorer Aminex has raised £1.85m (€2m) in share capital to boost up its work in Tanzania. The company provided 127,226,781 ordinary new shares at a placing price of Stg 1.45p per share.


Funds raised by the group will be used to speed up development over its Kiliwani development in Tanzania, as it takes advantage of debilitated market conditions in the service industry there.


The net proceeds of the share placing will finance the reprocessing of the present 2D seismic data and to plan for the accession of new 3D seismic data.


Adding on, funds will be used to convert the Kiliwani South development from a prospect to a drill ready target, with management evaluate of 57 billion cubic feet gas in the beginning in place.


Jay Bhattacherjee, CEO of Aminex, said: "We are glad to receive the continued support of our two largest shareholders in order to boost up development over Kiliwani, where the company continues to restore its Kiliwani North 1 well to bring it back into production, and Nyuni, while we make good progress in closing out the farm-out of Ruvuma."


The placing shares constitute approximately 3.5pc of the current share capital of the company.

Source : newzmart
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  •  ABL Machine Tools, One of the group companies of ABL India is India
  • Global Air Freight Solutions for Oil & Gas Shipments.
  • Ducorr is engaged in the engineering, manufacture & deployment of cathodic protection systems and products.
  • FAS Flssiggas-Anlagen GmbH, Salzgitter, is one of the leading manufacturers and suppliers of LPG fittings and components for complete stations for the storage
  • Dedicated to the Engineering Manufacturing Sector in India
  • BITZER ranks among the leading manufacturers of refrigerant compressors.
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Leading manufactures and expoters of the electronic products
  • Ravi Enterprise is a professionally managed organization, established as a reliable source of industrial heaters.
  • VALSER Oil & Gas Limited was created to service the oil & gas, petrochemical, refining and power industries in East Africa
  • LINTEC doub- le screen technology and the worlds first asphalt mixing plant in 100% ISO sea containers.
  • Aygaz is the only fully integrated LPG company in Turkey, operating in all LPG processes, including production, procurement, storage and filling
  • Kenya Engineer is a Journal of the Institution of the Engineers of Kenya
  • Prisma s.r.l. is an industrial reality, qualified in the study and the production of automatic doors for lift.
  • Seco actively contributes to improving your productivity and competitiveness in metal cutting machining.
  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • The trusted source for all your heavy  equipment needs!
  • Vrushabh is one of the leading manufacturer and distributor of Conveyor Belts, Transmission Belts, Elevator Belts, PVC Belts.
  • Hevt Duty Machinery
  • Pumps for dewatering, ground water control, sludge and slurry handling.
  •  The Western Group has been in business for over two decades and was set up primarily to service the Oil & Gas Industry Sectors.
  • Al Hosni Group International, has the experience and expertise in Construction, Manufacturing, Marketing, Hospitality, Chemicals, Gas services and environmental projects.
  • Suppliers of generators for every application
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2022 Afrotrade