Source - SMW
Aminex (LON:AEX) says the civil work for the Ntorya-2 wellsite is now complete and the process of mobilising the Caroil 2 drilling rig and related equipment has begun from the Ntorya-1 well pad to the Ntorya-2 wellsite, approximately 1,500 metres away. 

The Ntorya-2 appraisal well is expected to spud late Q4 and once spudded drilling is expected to take between 45 and 60 days. Ntorya-2 represents a low risk appraisal well targeting resources of 153 BCF and follows the discovery well at Ntorya-1, which flow tested at 20 mmcfd with 139 bbls of associate condensate. The company holds a 75% working interest and is the operator.

* * *

Empyrean Energy (LON:EME) says it was notified on 17 October  that Macquarie Bank Limited had sold its interest in options in respect of 60,000,000 ordinary shares in the company to a third party not connected with the company.

* * * 

Solo Oil (LON:SOLO) said site preparations for the Ntorya-2 appraisal well have now been completed and that mobilisation of the Caroil#2 rig from the Ntorya-1 wellsite is underway.

The Ntorya-2 pad is located approximately 1.5 kilometres to the southwest of the Ntorya-1 well. 

The rig and associated equipment are being transported to the new site, will be rigged up and tested, and will then undergo any maintenance required before being taken on under the contract reported on 23 September 2016.

The majority of other well services have also now been contracted. Solo therefore estimates that the Ntorya-2 appraisal well is likely to spud in December 2016.

Solo holds a 25% interest in the Ruvuma Petroleum Sharing Agreement ("Ruvuma PSA") which contains the Ntorya gas condensate discovery made in 2012 with the Ntorya-1 well which was tested at a rate of 20.1 million feet per day of gas ("mmscfd") and 139 barrels per day of condensate from a 3.5 metre interval at the top of a 20 metre Cretaceous sandstone pay zone at a depth of approximately 2,600 feet. 

The Ntorya-1 well has been credited in an independent report by Senergy (GB) Limited with gross 153 billion cubic feet ("bcf") of gas in place, of which 70 bcf are considered gross best estimate contingent resources. 

A further gross best estimate of undiscovered gas in place of over 1 trillion cubic feet is attributed to the Ntorya Prospect as a whole and is the target of the Ntorya-2 well which is being drilled updip and in a thicker part of the sand body interpreted on the 2014 seismic data acquired to facilitate appraisal. 

The Ntorya discovery lies just 20 kilometres from the 36-inch Mtwara to Dar es Salaam gas pipeline which was commissioned in late 2015 and is transporting produced gas from various fields, including the Kiliwani North Field where Solo holds a 7.125% interest, to gas markets in the north of Tanzania.

* * *

Egdon Resources (LON:EDR) will announce its preliminary results for the year ended  31 July on 1 November.

* * *

The sector's biggest riser was Frontera Resources (LON:FRR) - up by more than 9% in late trading. The biggest faller was Urals Energy (LON:UEN) - down by more than 9.5%. 




At 4:05pm:

(LON:AEX) Aminex PLC share price was -0.07p at 1.93p

(LON:AUR) Aurum Mining PLC share price was -0.08p at 2.58p

(LON:BOR) Borders  Southern Petroleum PLC share price was -0.09p at 1.91p

(LON:CHAR) Chariot Oil  Gas Ltd share price was -0.5p at 8.68p

(LON:EDR) Egdon Resources PLC share price was +0.75p at 14.25p

(LON:EME) Empyrean Energy PLC share price was 0p at 9p

(LON:ENQ) EnQuest Plc share price was +0.63p at 30.13p

(LON:FRR) Frontera Resources Corporation share price was +0.01p at 0.09p

(LON:GKP) Gulf Keystone Petroleum share price was +0.07p at 1.36p

(LON:GPX) Gulfsands Petroleum PLC share price was 0p at 2.88p

(LON:INDI) Indus Gas Ltd share price was +1.13p at 488.63p

(LON:PET) Petrel Resources PLC share price was -0.13p at 6.63p

(LON:RKH) Rockhopper Exploration PLC share price was -0.37p at 27.63p

(LON:RPT) Regal Petroleum PLC share price was 0p at 3.75p

(LON:SOLO) Solo Oil PLC share price was +0.01p at 0.23p

(LON:XEL) Xcite Energy Ltd share price was -0.05p at 1.58p



Related Charts

Aminex (AEX)

+0.10p (+4.81%)
delayed 18:15PM

Egdon Resources (EDR)

+0.75p (+5.56%)
delayed 18:15PM

Empyrean Energy (EME)

0.00p (0.00%)
delayed 18:15PM

Frontera Resources Corporation (FRR)

-0.00p (-2.78%)
delayed 18:15PM

Solo Oil (SOLO)

0.00p (0.00%)
delayed 18:15PM