Aminex Hits Tanzania Problems

摘要

London-listed Aminex saw its share pricetumble 34% on Thursday after announcing ithas suspended work on the Nyuni 2 explo-ration well offshore Tanzania due to extremedrilling conditions.“Aminex has persevered with this well forlonger than anticipated, but has now agreedwith its partners that the high cost of continu-ing cannot be justified given the low probabili-ty of overcoming the technical difficulties in atimely and cost-efficient manner,” AminexChief Executive Stuard Detmer said. “We willnow review both the geological informationgained and possible solutions to the operatingconditions encountered without incurring fur-ther drilling costs at this stage.”