EXPLORATION company Aminex reported good progress in its drilling operations off the coast of Tanzania yesterday. The oil and gas company, which is listed on the Dublin and London stock exchanges, also announced it had reached agreement with its joint venture partner in Tanzania, Petrom, over the operation of its licence in an area near the island of Nyuni.

EXPLORATION company Aminex is to share the €10m plus cost of a double well drilling programme in Tanzania with the Romanian state oil company while keeping a 70% interest in the project.

OIL and gas company Aminex’s decision to farm out €7.5 million of the cost of drilling two oil exploration wells off the Tanzania coast is regarded as good news for the company by Davy stockbrokers.