Aminex slumps as well is shut

SHARES in oil and gas explorer Aminex plummeted more than 40 per cent yesterday after the company said it had suspended work on its exploration well off the coast of Tanzania.

The company blamed “extreme drilling conditions” due to obstructions at the base of the well bore for the problems.

Despite the hold up, Aminex said the Nyuni prospect was still one of its “prime exploration targets”.