Aminex (Ndovu) has farmed-out the Ruvuma block and Ntorya unit to Zubair Corp (affiliate of Eclipse Investments), who in turn will assign its 50% interest + operatorship to ATP. The latter will therefore be in charge of drilling Chikumbi-1 (ex-Ntorya-3), acquire 200 sq km of 3D seismic (a Tanzanian first), and gear up for an EPS designed to produce 40 MMcf/d asap from Ntorya. The deal also includes USD 5 million cash and a carry of Aminex for up to USD 35 MM in respect of its remaining 25%. Â Partnership to be APT (op), Aminex/Ndovu + Solo Oil.
Aminex (Ndovu) (-> 25%, Solo Oil 25%) has farmed-out the Ruvuma block and Ntorya unit to Zubair Corp (affiliate of Eclipse Investments), who in turn will assign its 50% interest + operatorship to ATP.