Aminex (LON:AEX), the oil exploration company working in East Africa, has managed to rescue what appears to be a positive result from what had earlier been considered a disappointing well at Ntorya-1 in the Ruvuma Basin onshore in Tanzania.
Earlier in February, Ntorya-1 was drilled to 2,500 metres but failed to encounter the expected sandstone reservoirs at depths between 1,800 to 1,900 metres. However, sandstones were encountered at depths from 2,300 metres and a decision was taken to drill deeper to 2,750 metres.
Prior to reaching the current depth the well encountered strong gas shows in a good quality reservoir sandstones at a depth of approximately 2,660 metres.
A logging programme is due to start shortly to evaluate the new section drilled below 2,500 metres.
The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in Aminex’s Likonde-1 well, 14km to the north.
Aminex holds a 75% interest and operatorship of the well, with Solo Oil (LON:SOLO) holding 25%.
