Aminex to Return Nyuni License to Tanzania Government; Shares Fall
April 08 2022 - 3:16AM
Dow Jones News
By Jaime Llinares Taboada
Shares in Aminex PLC fell Friday after the company said it
wasn't able to agree on a second exploration period for the Nyuni
Area, offshore Tanzania.
The energy company said it has opened discussions with the
Tanzanian authorities regarding the return of the license to the
government. Aminex said that, despite a number of exchanges with
the country's authorities, the terms for the second exploration
period weren't agreed upon.
"Having been unsuccessful in finding a joint venture partner for
the Nyuni Area PSA, the return of the license is the correct move
as it reduces portfolio risk, preserves our capital resources and
allows the company to focus attention on our other two more
significant assets in Tanzania," Executive Chairman Charlie Santos
said.
Shares at 0738 GMT were down 11% at 0.83 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
April 08, 2022 04:01 ET (08:01 GMT)
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