Aminex PLC
14 July 2026
14 July 2026
Aminex plc
("Aminex" or "the Company")
Ruvuma Operations and Corporate Update
Following a change of management at ARA Petroleum LLC and a technical reappraisal of the Ntorya Development, ARA Petroleum Tanzania Limited ("APT"), the Operator of the Ruvuma PSA and the Ntorya Development, has made a request of the Company and the Tanzania Petroleum Development Corporation ("TPDC") to accept material amendments to the approved 2026 work programme and budget ("2026 WP&B"). The Operator's proposed amendments include a significant reduction in the 2026 WP&B that will result in a delay to the production of first gas and the drilling of the Chikumbi-1 well.
These proposals have not been approved by Aminex and the TPDC.
Discussions among the Company, APT, the Zubair Corporation, and the TPDC are ongoing to identify a resolution and agree a programme that is acceptable to both Aminex and the TPDC and honours APT's obligations under the Development Licence and the Farmout Agreement entered into in July 2018 among Aminex PLC, Ndovu Resources Limited, ARA Petroleum Tanzania Limited and The Zubair Corporation.
Aminex reserves the right to pursue all contractual remedies available to it to ensure that all obligations are met by APT under the Farmout Agreement, the Joint Operating Agreement and the Development Licence, including recourse to the Parent Company Guarantee provided by The Zubair Corporation under the Farmout Agreement.
The Company will provide a further update to shareholders, as and when available.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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For further information:
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Aminex PLC |
+44 203 355 9909 |
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Charles Santos, Executive Chairman |
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Knights Media & Public Relations |
+44 203 653 0200 |
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Sabina Zawadzki |
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Davy |
+353 1 679 6363 |
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Brian Garrahy |
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Shard Capital |
+44 20 7186 9952 |
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Damon Heath |
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Axis Capital Markets |
+44 203 026 0320 |
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Richard Hutchison |
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