Ntorya to Madimba Pipeline Contract Awarded

Aminex, the oil and gas exploration and development company focused on Tanzania, is pleased to announce that the Tanzania Petroleum Development Corporation (TPDC) has awarded the engineering, procurement and construction (EPC) contract for the construction of the gas pipeline from the Ntorya gas field to the Madimba gas processing plant to China Petroleum Pipeline and China Petroleum Technology & Development Corporation. Further details of the EPC contract, signed today, will be announced as soon as received from the TPDC.

Charles Santos, Executive Chairman of Aminex commented:

"We are delighted to receive confirmation of the award of the EPC contract for construction of the Ntorya to Madimba Pipeline. This is a major milestone, reflecting the commitment of the Tanzanian government to progress the project, and follows the signing of a Gas Sales Agreement, the award of the Development Licence that locks the project in for 25 years, and the update of a Field Development Plan with upgraded production figures - all in the past 18 months.

The signing of the contract today demonstrates the Tanzanian government's conviction of Ntorya's enormous value to Tanzania as a world class gas resource that will help alleviate energy poverty, boost industrial development and improve the lives of ordinary people. A conviction that we share at Aminex.

We thank the TPDC and all Tanzanian agencies for working together to reach this major milestone and look forward to providing a more detailed update to the market as soon as we can."