Bounty Oil & Gas NL is pleased to announce a further update on the Kiliwani North Gas Development Licence; Tanzania (10% Bounty Working Interest; non Operated).

Bounty advises good progress is now being made in concluding payment protection terms for gas producers after a long delay and the Tanzania Petroleum Development Corporation advised the operator Aminex PLC late last week that the joint venture Gas Sales Agreement for Kiliwani North can be concluded in the near future, enabling gas from the field to be sold into the pipeline system soon afterwards.

Bounty is anticipating gross gas revenues of US $ 2.5 million (A $3.4 million) per annum from Kiliwani North gas sales.

Tags: Bounty Oil & Gas