{"id":2393,"date":"2015-02-03T14:15:38","date_gmt":"2015-02-03T13:15:38","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=2393"},"modified":"2015-09-07T12:43:40","modified_gmt":"2015-09-07T12:43:40","slug":"solo-acquires-kiliwani-north-development-licence-in-tanzania","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/solo-acquires-kiliwani-north-development-licence-in-tanzania\/","title":{"rendered":"Solo acquires Kiliwani North Development Licence in Tanzania"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n

Solo has announced it has now signed the Asset Purchase Agreement with Aminex plc for the first 6.5% interest in the Kiliwani North Development Licence (KNDL) at a total consideration of US$3,500,000.<\/p>\n

The announcement \u00a0follows prior statements in October<\/a> and December<\/a> last year where the company said it had signed binding heads of agreements and was awaiting the formal approval from the government<\/p>\n

Further, Solo and Aminex have agreed to amend the terms of the original heads of agreement to allow Solo the option to purchase the additional 6.5% interest, on the same terms as the first 6.5% interest in the KNDL, during a period of 30 days after the Gas Sales Agreement (GSA) which has been approved by the Tanzanian Authorities.<\/p>\n

The KNDL contains the Kiliwani North 1 well which is expected to produce at approximately 20 million feet per day in early 2015 with verified resources therein estimated to be 45 billion cubic feet of gas-in-place.<\/p>\n

Construction of a 2 kilometre pipeline from KN1 wellhead to the new Songo Songo processing plant, at zero cost to the Company, is underway and expected to be completed shortly\u00a0 with the pressure testing of the pipeline expected to commence during first quarter 2015.<\/p>\n

The only conditions precedent remaining are the formal approval by the Tanzanian Authorities and the formal signing of the Asset Assignment Agreement by all partners; which the companies expect to receive shortly.<\/p>\n

The key terms of the acquisition are set out below:<\/p>\n

    \n
  1. The Initial Acquisition will consist of a cash payment of $3.5 million for 10% of Ndovu’s 65% interest in KNDL, representing a 6.5% interest in the entire KNDL; and<\/li>\n
  2. The Second Acquisition consists of an option for Solo to acquire a further 10% of Ndovu’s 65% interest in KNDL (a 6.5% interest in the entire KNDL) on the same terms as the Initial Acquisition within 30 days of the signing of the GSA.<\/li>\n<\/ol>\n

    Aminex and Solo are already partners in the Ruvuma Production Sharing contract in Tanzania, with respectively 75% and 25% interests, where gas was discovered in 2012 at Ntorya-1.\u00a0 Ndovu is the operator of both the Ruvuma Production Sharing Agreement and the KNDL.<\/p>\n

    [twitter-follow screen_name=’oilnewskenya’]<\/p>\n","protected":false},"excerpt":{"rendered":"

    [twitter-follow screen_name=’oilnewskenya’] Solo has announced it has now signed the Asset Purchase Agreement with Aminex plc for the first 6.5% interest in the Kiliwani North Development Licence (KNDL) at a … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[137,1322,1707,2210,2342,2369,2466,2472,2543],"class_list":["post-2393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-aminex","tag-kiliwani-north-development-licence","tag-ndovu","tag-ruvuma-production-sharing-contract","tag-solo-oil","tag-songo-songo-processing-plant","tag-tanzania","tag-tanzania-petroleum-development-corporation","tag-tpdc","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-CB","jetpack-related-posts":[{"id":2194,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzanian-government-gives-go-ahead-to-aminex-for-sale-of-kiliwani-north-development-licence\/","url_meta":{"origin":2393,"position":0},"title":"Tanzanian Government gives go ahead to Aminex for sale of Kiliwani North Development Licence","author":"Samuel Kamau Mbote","date":"December 17, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Aminex has notified shareholders that it has received confirmation from the Tanzanian Ministry of Energy and Minerals that the Minister has no objection to the proposed transfer of assignment for the sale to Solo of up to 13% of in the Kiliwani North Development Licence (\u2018KNDL\u2019) in Tanzania\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3873,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tpdc-to-acquire-5-interest-in-the-kiliwani-north-license\/","url_meta":{"origin":2393,"position":1},"title":"TPDC to acquire 5% interest in the Kiliwani North License","author":"","date":"October 5, 2015","format":false,"excerpt":"Aminex has said that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5% working interest in the Kiliwani North Development (KNDL) and will become a full working interest partner going forward. Under the terms of the Nyuni East Songo-Songo Production Sharing Agreement\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2416,"url":"https:\/\/www.oilnewskenya.com\/index.php\/export-pipeline-from-songo-songo-processing-plant-to-kn-1-gas-well-complete\/","url_meta":{"origin":2393,"position":2},"title":"Export pipeline from Songo Songo processing plant to KN-1 gas well complete","author":"Samuel Kamau Mbote","date":"February 6, 2015","format":false,"excerpt":"Aminex plc the operator of the Kiliwani North gas field in Tanzania's Kiliwani North Development Licence, has advised the partners that the newly constructed gas export pipeline from the Songo Songo processing plant to the KN-1 gas well has been completed to within approximately 20 metres from the KN-1 production\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/songo-songo2.png?fit=465%2C546&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2602,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-sell-another-6-5-interest-tanzanias-kiliwani-north-development-licence\/","url_meta":{"origin":2393,"position":3},"title":"Aminex to sell another 6.5% interest in Tanzania\u2019s Kiliwani North Development Licence","author":"","date":"February 25, 2015","format":false,"excerpt":"Aminex is has said that it has received formal approval from the Tanzanian Authorities to sell up to 13% of its interest in Kiliwani North Development Licence (KNDL) to Solo Oil plc and thus there now remains no further conditions precedent to the sale of 6.5% KNDL to Solo for\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3271,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzanias-kiliwani-north-gas-agreement-signed-q3-2015\/","url_meta":{"origin":2393,"position":4},"title":"Tanzania\u2019s Kiliwani North Gas Agreement to be Signed in Q3 2015","author":"","date":"August 26, 2015","format":false,"excerpt":"Production from the Kiliwani North Field could start in 2015 with the Tanzanian authorities having advised that production should start within Q3 2015 now that the main pipeline has been pressure tested and with the Gas Agreement expected to be signed this quarter. The completion of a Gas Sales Agreement\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2577,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-draws-closer-gas-production-kiliwani-north-1-well\/","url_meta":{"origin":2393,"position":5},"title":"Tanzania draws closer to gas production from the Kiliwani North 1 well","author":"","date":"February 19, 2015","format":false,"excerpt":"Aminex has notified shareholders that the Tanzanian Petroleum Development Corporation (TPDC), through its contractors, has now begun constructing the Skid Metering Unit within the boundaries of the Kiliwani North Development Licence (KNDL) and have completed laying pipe to the KNDL boundary. Once construction is complete the Kiliwani North 1 well\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kiliwani-north.jpg?fit=498%2C565&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=2393"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2393\/revisions"}],"predecessor-version":[{"id":3527,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2393\/revisions\/3527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1913"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=2393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=2393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=2393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}