{"id":4314,"date":"2016-02-01T07:59:53","date_gmt":"2016-02-01T07:59:53","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=4314"},"modified":"2017-01-26T09:34:08","modified_gmt":"2017-01-26T09:34:08","slug":"bowleven-farmout-in-tanzanias-ruvuma-psa-terminated","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/bowleven-farmout-in-tanzanias-ruvuma-psa-terminated\/","title":{"rendered":"Bowleven Farmout in Tanzania\u2019s Ruvuma PSA Terminated"},"content":{"rendered":"<p>Ruvuma PSA operator Aminex has advised that the proposed disposal of a 25% interest in the Kiliwani North Development Licence and a 50% interest in the Ruvuma PSA to Bowleven PLC, <a href=\"http:\/\/ow.ly\/XMtqD\">announced<\/a> to shareholders on 19 November 2015, will not proceed.<\/p>\n<p>This follows a failure by the involved parties (Aminex, its lender, the Tanzanian authorities and Solo Oil plc) to agree on a forward work programme.<\/p>\n<p>\u201cIn discussions during the due diligence process, a forward work programme could not be agreed which would be acceptable to Aminex, its lender, the Tanzanian authorities and Solo Oil plc,\u201d says Aminex CEO Jay Bhattacherjee.<\/p>\n<p>As a consequence, the contingent agreement between Solo and Aminex for a transfer of a 12.5% in the Ruvuma PSA interest is no longer applicable and the partners will maintain their existing interests.<\/p>\n<ul>\n<li>Aminex 55.575% (operator) interest in the Kiliwani North Development Licence, for which LR Senergy has ascribed 28 BCF contingent (2C) resources (gross) and which is about to come on-stream following the signing of a Gas Sales Agreement in January; and<\/li>\n<li>75% (operator) interest in the Ruvuma PSA, where it is making progress towards the recompletion of the Ntorya 1 discovery well, and the drilling of the Ntorya 2 appraisal well.<\/li>\n<\/ul>\n<p>Bowlevenon its part said it has decided not to pursue its interest in the proposed acquisition from Aminex PLC of a 25% interest in the Kiliwani North Development Licence and a 50% interest in the Ruvuma PSA, in Tanzania, following the completion of due diligence.<\/p>\n<p>Solo&#8217;s interest in the Ruvuma PSA will therefore remain at 25%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ruvuma PSA operator Aminex has advised that the proposed disposal of a 25% interest in the Kiliwani North Development Licence and a 50% interest in the Ruvuma PSA to Bowleven &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/bowleven-farmout-in-tanzanias-ruvuma-psa-terminated\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":3881,"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":true,"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":[137,344,874,1322,2211,2342,2466],"class_list":["post-4314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-aminex","tag-bowleven","tag-farmout","tag-kiliwani-north-development-licence","tag-ruvuma-psa","tag-solo-oil","tag-tanzania","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/10\/Kiliwani-North-2.png?fit=313%2C402&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-17A","jetpack-related-posts":[{"id":4117,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-announces-part-disposal-and-farm-out-of-tanzanian-assets\/","url_meta":{"origin":4314,"position":0},"title":"Aminex Announces Part Disposal And Farm Out Of Tanzania Assets","author":"","date":"November 19, 2015","format":false,"excerpt":"Aminex has announced that it has reached an agreement with Bowleven plc for part disposal and farm out of its Tanzanian assets. Terms of the Bowleven Agreement include the disposal by Aminex of a 25% interest in the Kiliwani North Development Licence (KNDL) and farming into the Ruvuma PSA, including\u2026","rel":"","context":"In &quot;Top News&quot;","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\/2015\/11\/Ruvuma-Mnazi-Bay.png?fit=398%2C450&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4783,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-receives-one-year-extension-for-ruvuma-psa\/","url_meta":{"origin":4314,"position":1},"title":"Aminex Receives One Year Extension For Tanzania&#8217;s Ruvuma PSA","author":"","date":"June 27, 2016","format":false,"excerpt":"Aminex has announced that it has received a one-year extension for the Mtwara Licence of the Ruvuma Production Sharing Agreement after completing discussions with the Tanzanian Petroleum Development Corporation (TPDC) with the license due to expire late December 2016. TPDC is processing the extension for Ministerial approval and signature. Furthermore,\u2026","rel":"","context":"In \"Aminex\"","block_context":{"text":"Aminex","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/aminex\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ntorya-appraisal-area.jpg?fit=401%2C450&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4618,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ntorya-appraisal-drilling-in-tanzanias-ruvuma-to-commence-in-q3\/","url_meta":{"origin":4314,"position":2},"title":"Ntorya Appraisal drilling in Tanzania\u2019s Ruvuma to commence in Q3","author":"","date":"April 27, 2016","format":false,"excerpt":"Appraisal drilling in the Ruvuma PSA following the Ntorya 1 discovery is expected to commence this summer according to Block operator Aminex. Two wells will be drilled in the Block in 2016 including Ntorya-2 to offset and appraise the Ntorya-1 discovery as well as the Ntorya-3, also being planned to\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"Ntorya 123 location","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/04\/Ntorya-123-location.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2913,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-provides-technical-evaluation-tanzanias-kiliwani-north-development-license-ruvuma-psa\/","url_meta":{"origin":4314,"position":3},"title":"Aminex provides technical evaluation of Tanzania&#8217;s Kiliwani North Development License &#038; Ruvuma PSA","author":"","date":"May 14, 2015","format":false,"excerpt":"Aminex\u00a0has announced that\u00a0Senergy, an independent oil and gas consultancy firm, has completed a technical evaluation on the resources of\u00a0Kiliwani North Development Licence\u00a0and\u00a0Ruvuma PSA. Key Highlights Kiliwani North Development Licence (58.5% Working Interest, Operated) PMean Gas Initially in Place (GIIP) of 44 BCF (gross) of which 28 BCF (gross) booked as\u2026","rel":"","context":"In &quot;Top News&quot;","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\/2015\/05\/Ruvuma-Nyuni-PSA.png?fit=402%2C453&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1734,"url":"https:\/\/www.oilnewskenya.com\/index.php\/aminex-increases-tanzanian-discovery-estimates-to-1-9tcf\/","url_meta":{"origin":4314,"position":4},"title":"Aminex increases Tanzanian discovery estimates to 1.9Tcf","author":"Samuel Kamau Mbote","date":"September 8, 2014","format":false,"excerpt":"Aminex\u00a0has announced that following the Company\u2019s newly acquired seismic in Tanzania \u00a0shows larger resources estimates than earlier anticipated. The new interpretation by Aminex over the\u00a0Ntorya discovery\u00a0in the\u00a0Ruvuma PSA shows that Likonde and Ntorya are connected at the Cretaceous level and based on the recent 2014 seismic programme estimates of the\u2026","rel":"","context":"In &quot;Top News&quot;","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\/09\/rovuma-2.jpg?fit=363%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5315,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ntorya-2-appraisal-well-in-tanzanias-ruvuma-psa-to-spud-in-december\/","url_meta":{"origin":4314,"position":5},"title":"Ntorya 2 Appraisal well in Tanzania\u2019s Ruvuma PSA to spud in December","author":"","date":"October 18, 2016","format":false,"excerpt":"The Ntorya-2 appraisal well in Tanzania\u2019s Ruvuma PSA is expected to spud in December 2016 according to block operator Aminex Plc with of well services having been contracted to date. Site preparations for the Ntorya-2 appraisal well have now been completed and mobilisation of the Caroil#2 rig from the Ntorya-1\u2026","rel":"","context":"In &quot;Top News&quot;","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\/2016\/04\/Ntorya-Gross-Thickness-Map.png?fit=375%2C443&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\/4314","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=4314"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4314\/revisions"}],"predecessor-version":[{"id":4315,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4314\/revisions\/4315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/3881"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=4314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=4314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=4314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}