Epic : AEX

Aminex PLC is an established upstream oil and gas company, listed on the London and Irish Stock Exchanges, which has operated internationally since 1991.

Aminex produces oil and gas in the USA and has ongoing exploration activity in Tanzania, North Korea. Madagascar, Kenya and Egypt. Aminex also owns AMOSSCO Ltd, an international oilfield service, supply and logistics company.


Main Web Site : http://www.aminex-plc.com

Amossoco Web Site : http://www.amossco.com/

Dec 2007 Company Presentation : Link to PDF File



Sept 07 - Operations Detail & Update : In post 2

28th Sept 07 - Oil Barrel Write Up : In post 6

North Korea Info : In post 3

Planned Drilling :

Commencing late Oct 07 (or early Nov) - Kiliwani-1 - Tanzania
to be followed by second Tanzania well.

Commencing Nov 07 - West esh el Mellahah Block 2 - Egypt



* Note : AEX is fully listed (not AIM) and so can be ISA'd


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Fernandesb...It's also the future possible discoveries that look very promising indeed !

required field what the schedule of future drillings?

Ahhhhhhhhh so we are waiting for Egypt now :)

We have drilling in Egypt going on as we speak (imagine what that will do for the sp if there is sucess at the first attempt) and there's more going on in the USA (I'll have to check that) and possible progress with North Korea and this morning's discovery which isn't even the primary target...did I hear the word gem mentioned !, and loads of extra drilling now to look forward to in Tanzania !

:) you seem to be well exited:) but so Am I :) Any vision of future sp if there is more good news?What is the shares potential here ?

At a guess...once these awful market conditions end, and with the brokers possibly upgrading their stance on this stock...at a guess we should see 30p plus...a lot of people just don't realise how good this little irish stock good be and it is possible to put it in an Isa as it is a London main market stock !...if there is (and there should be) more drilling sucess in Egypt...Tanzania...USA...well dare I suggest we could be heading up to the 40 or 50p mark...we shall see !

:) we shall see:) now I will wait for good news from Indago :)

Cheers ...got to go now...some work to do !

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1205805610&feed=oilbarrel_en

18.03.2008

Aminex Makes It Third Time Lucky In Tanzania As Kiliwani North-1 Strikes Gas

Trust Aminex to do things differently. On the day markets around the globe tanked, the London-listed firm announced it had struck gas in Tanzania and its shares gained 14 per cent to stand at 24.25 pence.

This was welcome news for long-time followers of Aminexs adventures in East Africa. Pioneering Aminex led the international E&P pack in staking out territory in this little-drilled frontier: its Nyuni-1 well of 2003/4 was the first well in Tanzania for 13 years but recent years have seen large tracts of the East African coastline licensed out to multinationals such as Woodside, Shell and Petrobras.

But Aminexs headstart has taken a long time to pay off. Nyuni-1 was a tortuous exercise for the company, running way over budget as logistical headaches and complex geology saw the planned total depth of 3,000 metres stretch to 3,895 metres - a lot of extra well for a wildcat. The well was plugged and abandoned although it did log hydrocarbons in the Lower Cretaceous and Jurassic formations and established the presence of oil from a Jurassic source in the region for the first time. The next well to drill on the Nyuni licence, the long-awaited Kiliwani-1 exploration well, was also P&A after it failed to find commercial hydrocarbons in the Lower Cretaceous sands, which were encountered deeper than in the nearby producing Songo Songo gas field.

There was a sense among some investors that the next well to spud, Kiliwani North-1, would make or break Aminexs Tanzania campaign. This is a company that has built its reputation on successfully returning value to shareholders despite operating in difficult and challenging environments: in 2002, for example, it returned capital to shareholders after a successful and profitable exit from Russia, since when it has built a portfolio that stretches from the frontier East African Margin to the politically-charged territories of North Korea.

Although it is early days, it appears the Kiliwani North-1 will vindicate this pioneering strategy. The KN-1 well, which carried a pre-drill P50 estimate of 100 billion cubic feet of gas and was drilled to a depth of 2,030 metres, has intersected a substantial 60 metre gas column in Lower Cretaceous sandstones, the same reservoir as Songo-Songo. The well also encountered minor oil shows in the Neocomian and confirmed the presence of potential reservoirs in the Tertiary section. Flow-testing and further appraisal drilling will be required to determine the extent of the discovery but the commercial threshold will be low: the structure lies just a couple of miles form the Songo Songo pipeline which connects to the energy hungry capital Dar es Salaam.

The well was testing a possible extension of the Songo Songo field into the Nynui licence but the gas-water contact was about 30 metres deeper than at the producing field. This, Aminex believes, is good news as the deeper gas-water contact demonstrates the discovery is in a separate structure to Songo-Songo. This further enhances the prospectivity of the remaining leads and prospects within the Nyuni licence, said the company, which has identified a string of prospects on the licence, some with the potential to dwarf Kiliwani.

KN-1 is a totally new, deep structure which opens up several avenues for further exploration on the licence and strengthens the case for oil on the East African margin, said Aminex chairman Brian Hall.

Aminex has a 40 per cent interest in the project, alongside Rak Gas with 25 per cent, Key Petroleum with 20 per cent, East African Exploration with 10 per cent and Bounty Oil & Gas with five per cent. Under a series of farm-out deals signed last year, Aminex managed to get the bulk of its costs carried.

Investors will be keen to hear how Aminex plans to chase down this potential in terms of future activity. While they await production test results, investors can also expect to hear news from Aminexs first well in Egypt, where it has a 10 per cent interest in the West esh el Mellahah block in the onshore Gulf of Suez region. The Malak-1 well, which is being drilled to a total depth of 3,800 metres, is drilling ahead on schedule. Aminexs costs here are free carried through to first production making this a no-risk exercise for the London firm.

Up again...I think there's more to come yet....it might settle around 27p....before the next RNS.

Up 6% so far today and rising....could be the oil gem of 2008 !

News out in Oz :

http://www.asx.com.au/asxpdf/20080319/pdf/3184ply607gp6p.pdf



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Aminex PLC
28 March 2008
AMINEX PLC
28 March 2008

INCREASE IN U.S. RESERVES

Aminex PLC, the oil and gas company listed in London and Dublin, today publishes the results of an updated independent appraisal of its reserves of oil and gas in the USA prepared by OPC of Houston, Texas.

The total value of the appraised reserves at 31 December 2007, calculated on a
P50 basis, is reported to be $143,074,800, an increase of approximately 66% over the value reported by OPC in respect of 31 December 2006.

The increase is due to higher oil prices, successful drilling efforts and
continuing production at Shoats Creek and Alta Loma, both of which had been
subject to interruption in previous years.

A summary of the OPC report for each of Aminex's four main producing areas has
been posted to the Aminex website ( www.aminex-plc.com ) and appears under the
Investors section.

For further information:

Brian Hall Aminex +44 20 7291 3100

Archie Berens Pelham PR +44 20 7743 6679

Website : www.aminex-plc.com


ENDS


This information is provided by RNS
The company news service from the London Stock Exchange

:):):) nice one,waiting for Egypt :):)

Great update...let's hope Egypt drilling comes right...2 wells at least at no cost to the company....very promising minnow oil company and the USA reserves update is tremendous...at a guess...sp wise...well worth over 30p !

Shares in Aminex (AEX) gushed 1.25p higher to 25.5p after the company revealed the value of its oil and gas reserves in the US rose by two thirds during the year ended 31 December to 143 million dollars, boosted by higher oil prices.
The company also said output was raised, boosted by successful drilling efforts and continuing production at Shoats Creek in Louisiana and Alta Loma in Texas, helping revenue climb to 9.3 million dollars from 5 million dollars, although pre-tax losses widened to 3.3 million dollars from 2.8 million dollars.
"Since the year end we have announced a significant gas discovery on the Nyuni licence in Tanzania and announced a further gas discovery in the South Weslaco Field in Texas," chairman Brian Hall said. "With an ongoing drilling programme in Egypt, a major gas exploration well planned in Texas at Alta Loma this year and plans in hand for drilling in the highly prospective Ruvuma Basin of Tanzania at the start of 2009, we expect to maintain the momentum of our current operations," added Hall.

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01.04.2008

Aminex Buoyed By Busy Work Programme And Positive Reserves Report

Shares in Aminex, which have performed well throughout March on the basis of its exploration campaigns in Tanzania (one gas strike) and Egypt (still drilling ahead), gained another 1.25 pence on Friday after the London-listed company revealed the value of its reserves in the US rose by two-thirds last year to US$143 million (72 million). The shares closed at 25.5 pence, giving the company a market cap of just over 60 million, which is more than underpinned by the US assets alone.

The reserves report from independent consultancy OPC of Houston saw the total value of the companys P50 oil and gas reserves, comprising 28.6 billion cubic feet of gas and 2.3 million barrels of oil, rise by 66 per cent in 2007. The company has four producing properties in Texas and Louisiana Alta Loma, Shoats Creek, South Weslaco and Somerset which in 2007 produced on average 386,301 cubic feet per day of gas and around 79 barrels per day of oil. The increase in value is due to higher oil prices, successful drilling and continuing production from the Shoats Creek and Alta Loma properties, which had suffered interruption in previous years.

The reserves report came on the same day as the companys preliminary results for the year ended 31 December, which included a net loss of US$3.27 million on revenues of US$9.3 million, almost double the level of 2006. The increase in turnover is due to higher sales of goods and services by AMOSSCO, the companys oilfield services and supply arm, plus a 10 per cent gain in oil and gas sales from its US properties due to higher gas production (up 9 per cent on 2006) and higher prices.

The real interest, of course, has come since the year-end, with the Kiliwani North-1 gas strike in Tanzania, a further gas discovery on the South Weslaco field in Texas, exploration drilling in Egypt and a seismic shoot underway in Madagascar.

Of these events, the Kiliwani North-1 well was most significant, vindicating the companys long investment and commitment to these little drilled coastal waters of East Africa. The gas strike made it third time lucky for Aminex in Tanzania (its previous two wells, Nyuni-1 of 2004 and Kiliwani-1 of 2008 were P&A after failing to find commercial reserves), logging a 60 metre gross gas column in the Lower Cretaceous sands. It is still early days with much work yet to be done to understand the significance of the Kiliwani North-1 discovery but investors will take comfort from the wells proximity to the producing Songo Songo gas field and associated infrastructure, which should reduce capital costs and timelines in the event the find is declared commercial.

The US gas find was also significant. Followers of Aminex tend to like the companys pioneering spirit and its willingness to drill in little-chartered territories but this high risk wildcatting would look a lot less tempting and be far more difficult to fund - if it wasnt backed by production and booked reserves in the Lower 48. The most recent well, GU-38, on the South Weslaco field in Texas, encountered an important deep gas formation, which will need fraccing before starting commercial production. This procedure has already been successful on the field: the deep GU-37 well was successfully fracced and is now on commercial production.

In Egypts West esh el Mellahah-2 block (WEEM-2), the Malak-1 well, which spudded in late February, is drilling ahead and making good progress. Two more wells are planned before mid-2009, with the second due to spud on the back of Malak-1. This is a proven oil producing area, with fields in the adjacent WEEM-1 licence producing around 10,000 barrels of oil per day. Aminex has a 10 per cent inertest but its costs are fully carried through to first commercial production, making this a no-cost exercise for the London firm.

In Madagascar, the company is shooting 500 km of 2D seismic over the 10,750 sq km Manja PSA on the west coast. The shoot has been temporarily suspended during the rainy season - swollen rivers and soft ground make it impossible for seismic crews to operate and should resume around May 1st. The data will be used to help the company decide whether to extend the licence into the second exploration phase (the first expires at the end of November) and commit to drilling a well in this exciting but challenging new exploration play.

This busy work programme is good news for shareholders, who weathered something of a hiatus in activity last year as the company sourced the commercial agreements, equipment and funding to pursue this multi-country exploration campaign. Company chairman Brian Hall, who is due to speak at oilbarrel.coms conference on Thursday April 3rd, said he expected this momentum to be maintained through to 2009 with further drilling due in Egypt, a major gas exploration well planned at Alta Loma in Texas and high impact drilling due in Tanzanias Ruvuma Basin in early 2009.

2008 will also see further seismic acquisition on blocks L17 and L18 offshore Kenya, probably in September. The company also hopes to better understand its Shoats Creek field in Louisiana when it receives the results of a 3D survey around mid-year. This should give some indication of the value of this asset, which has potentially more underlying value than in all the other US properties combined.

Possibly about to resume it's climb after a few hesitations !

Oil Barrel Presentation :

http://www.aminex-plc.com/Resources/oil_barrel_pres08.pdf


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Edison 8th April Note :

http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=1241

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Aminex PLC

Malak-1 well Result, Egypt

16 April 2008


Aminex PLC ('Aminex'), the oil and gas company listed in London and Dublin,
announces the result of the Malak-1 exploration well in Egypt.

Malak-1, the first in a three well programme on the West esh el Mellahah
concession ('WEEM-2') in the onshore Gulf of Suez and operated by an associated
company, Aminex Petroleum Egypt Ltd., reached a total depth of 3,692 metres and
obtained positive gas readings from several intervals, proving the presence of
hydrocarbons. However, these were not considered to be commercial and the well
will now be abandoned.

The rig will shortly be moved to the next location selected for drilling, the
Tanan North West prospect, five kilometres to the north east of the Malak-1
location. The new well, Tanan NW-1, will be spudded shortly.

The WEEM block lies in a prolific but geologically complex oil producing area
and Malak-1 is the deepest well ever drilled in the vicinity. The results
confirm the presence of hydrocarbons deeper than 3,600 metres and indicate the
potential for early Tertiary and Cretaceous source rocks below 3,000 metres to
be within the oil 'kitchen' for the area. These provide further exploration
opportunities on the WEEM block and the data obtained from Malak-1 will be
invaluable for planning subsequent drilling.

Aminex has a 10% beneficial interest in the WEEM-2 concession through its
shareholding in Aminex Petroleum Egypt Ltd. Aminex's share of costs is carried
by other partners through to first commercial production. Aminex has no
financial exposure until commercial hydrocarbons have been established.

A further announcement will be made when Tanan NW-1 commences drilling.

For further information: