From the latest company's drilling update....17 Feb

http://moneyam.uk-wire.com/cgi-bin/articles/200402170700084897V.html

Can anyone with mining knowledge explain these terms....

What does sidetracking mean? Approx how ong will that take?
Approx. how long will it take to correct a deviated section?
Is 'crude oil in shale samples' a good indication that there is oil?
Is 'Gas-bearing porous sands being logged' a good indication that there is gas?
Basically what does logging involve ?

Any views re AEX potential??

Regards
Stephen

Hi All,

Interesting collection .... http://www.koreapetrexco.com/pub.html

Cheers,

PM

Luvvvly jubbbly Rodney :)

West Korea Bay, Exploration area, 18,600 sq. km
The basement made of thick carbonate rocks (5,000 m) of the Late Proterozoic and Early Paleozoic is overlain by the Mesozoic (6,000 -10,000 m) and Cenozoic (4,000 - 5,000 m) sediments. Source rocks are the Jurassic black shale (3,000 m or more), Cretace ous black shale (1,000 - 2,000 m), and pre-Mesozoic carbonates (several thousand meters) as well. Reservoir rocks are the esozoic-Cenozoic sandstone with high porosity and pre-Mesozoic fractured carbonate rocks.

Petroleum traps are anticline, fault-sealed, buried hills and stratigraphic types. Existing exploration data: 4,500 km of integrated geophysical surveys with grid of 2 x 4 km. Seven wells have been drilled, recovering oil and gas from several wells and hydrocarbon shows from all of the wells.
 
Korea East Sea, exploration area, 30,000 sq. km.
Pre-Mesozoic gneiss and carbonate rocks are overlain by the Mesozoic and Cenozoic sediments, 6,000 - 7,000 m in thickness. A source rock is the Tertiary thick marine shale (1,500 to 2,000 m) and underlying Mesozoic? rocks. Reservoir rocks are Tertiary sandstone of a good reservoir physical property and fractured carbonate rocks which constitute the basement. Trap structures - anticline, fault-sealed, buried hill, facies-sealed, stratigraphic types and reefs.

Existing exploration data - Integrated geophysical surveys with a grid of 10 x 20 km throughout the basin, with a grid of 2 x 2 km over some parts. Two wells drilled, oil and gas shows found from both wells.
 


http://www.kimsoft.com/korea/nk-oil2.htm
 


Aminex have already been given all this seismic data, and more !

Cheers,

PM

Hi All,

Moving up again :)

Cheers,
PM

Im in finally got some cash liquidated.....Im raging I didnt get in when I wanted to last week but think this is a one way bet at the moment.....

cheers PM for your research

Blackbelt Hi,

Welcome :)

Price is still going up, so I hope your into a profit real soon !

Cheers,
PM

paulmasterson1. well going well. and lots more to come relax.cfe will rise soon .

Tanker Hi,

Whats the story ?

Cheers,
PM

told you last week .cert.

i never go into detail . trust me thanks.

THIS IS FROM OILBARREL.COM TODAY (GLAD TO SEE THE INDUSTRY WEBSITE FINALLY CATCHING ON TO THIS !!)

09.08.2005
Aminex Signs Up To Explore Most Of North Koreas Oil And Gas Territories In Groundbreaking Production Sharing Agreement
Aminex plc has scored a real first with the signing of a formal production sharing agreement for a large tranche of exploration acreage in the Democratic Peoples Republic of Korea. Shares in the company climbed 1.625p to 9.5p on the news.

The signing of an exploration agreement with the secretive North Korean regime - a member of US President George W Bushs infamous axis of evil - marks a real coup for the London-headquartered oil junior. In September 2004 the company signed a twenty-year petroleum agreement with the DPRK, which is anxious to develop its indigenous oil industry. The impoverished country, which is run along a strict communist ideology based on the concept of juche or self reliance, has seen its economy run into real problems, resulting in famine and prolonged power blackouts. It depends on coal and hydropower and imports what oil it uses, around 86,000 barrels per day.

Under the terms of the 2004 deal, Aminex agreed to provide technical and legal expertise to help the DPRK authorities get to grips with their domestic resource base and attract inward investment. In return the British oil company receives a royalty on any new production, a carried interest in any new wells drilled by incoming companies and the right to explore anywhere in the country. Aminex later cemented its relationship with the DPRK by agreeing to take a stake in Kobril, an international natural resource vehicle controlled by the pariah regime.

Since then Aminex has worked hard to get to grips with the existing seismic and well data covering the country and has helped draft a model production sharing agreement. The PSA, made under Swiss law, runs for nine years, divided into three three-year periods, with the work commitments in the first phase including seismic acquisition and the drilling of one exploration well.

At 66,000 sq km, Aminexs PSA covers the greater part of the countrys on and offshore oil and gas prospective territories, including the West Sea offshore basin, a part of the East Sea offshore basin, the onshore Anju basin, the onshore Jaeryong basin and the onshore Pyongyang basin.

This can rightly be considered frontier territory. There has been sporadic exploration in the country over the past 30 years, resulting in some undeveloped discoveries. The West Sea acreage is thought to offer the best near-term production potential. Speaking to oilbarrel.com recently, Aminexs chief executive Brian Hall described the area as an offshoot of the Bohai Bay in China, that countrys largest indigenous source of oil and gas and the scene of recent major discoveries.

The East Sea acreage could also prove very interesting. Its geology is not dissimilar from that of Sakhalin Island, said Hall, referring to the oil and gas rich Russian territory that has attracted multi-billion dollar investments from the worlds supermajors.

PM - THE GHOST OF MY ORIGINAL PURCHASE AT 660P IN 1987 IS APPROACHING EXORCISM !!

Excellent call everyone! Thank you Diana. I wish I bought a lot. I only bought 50000. By the way Diana let us know if you hear anymore tips from your husbands friend.
PM will look into SEO, thanks for your tip.

Supermono Hi,

Glad to see my efforts not going to waste .... I E-Mailed Stewart Dalby at Oilbarrel.com on Sunday, to ask why I couldn't find the Aminex news on the PSA, I also added some of my own info, which is in that note :)

Cheers,
PM

Thank you Mrs Lords, I am glad too see our friend was right. I will let you know if I get any more tips from him.
Diana

Hi All,

This note just out from KBC Peel Hunt, says that oil is going to be in even shorter supply, so places where Aminex excels, the one's that are underexplored, and very likely to have large amounts of Gas and Oil, like Tanzania and especially DPRK, will be the places where a lot of big oil companies will start looking, and in DPRK they will all have to partner Aminex, because Aminex have all the most prospective areas under PSA licence !

Also check out the 'risked exploration value' of the small cap oil companies that KBC cover, because currently Aminex have none of Tanzania, or DPRK priced in. Also check the NAV of thoe companies, and think what one oil well in DPRK or Tanzania will do to the NAV of Aminex.

http://www.peelhunt.com/pdfs/mmeetings/NEOilGas9Aug05.pdf

9 August 2005

News Extra

Oil & Gas Sector Update

Oil prices heading for $100?

Having returned from a summer break in the Rocky Mountains, and having covered 3000 miles in a gasguzzling Jeep and two transatlantic flights, I have done my bit of profligate oil consumption. Included in my holiday reading was Matt Simmons excellent analysis of the current state of the Saudi oil fields: Twilight in the Desert. It therefore comes as no surprise to me to see the crude oil price at over $60 per barrel. The thesis of this book is essentially that far from having ample spare capacity, the Saudis are in danger of having overproduced their giant oil fields to the extent that a significant decline is inevitable at some point in the not too distant future. Such idle capacity that exists and such undeveloped reserves as there are will at best offset thedeclines from the older wells. That being the case, the world cannot continue increasing oil consumption at current rates as the supply capacity will shortly run out. If Simmons reading of the situation is remotely correct, $60 crude will look like a bargain and in a few years time, routine long distance flights will once again be the preserve of the rich and famous.

My take on the supply situation is not necessarily as pessimistic as Simmons but it is clear that my oil pricing scenarios, with $50 as a upside case, are already looking rather conservative.

Is that you Mrs Lords - 1m+ purchase? who ever it is great. Obviously has done some research? positive outlook for the future.

U.S. upbeat on 6-party N Korea talks

Tuesday, August 9, 2005 at 09:03 JST
WASHINGTON The U.S. government was upbeat Monday about the state of six-party talks on North Korea's nuclear programs but said Pyongyang's insistence on possessing civilian light-water nuclear reactors was the stumbling block that led to a three-week break Sunday in the talks in Beijing.

"We believe there has been important progress, and we're still optimistic that some agreement can be reached," White House deputy press secretary Trent Duffy told reporters. (Kyodo News)

FM to Visit China, U.S. Over Six-Party Talks

Foreign Minister Ban Ki-moon will visit China and the United States to discuss progress in six-party talks on North Koreas nuclear program, which should start again after a recess in the week of August 29.
Ban told reporters Tuesday he was clearing his schedule to travel this weekend to China to meet Chinese Foreign Minister Li Zhaoxing and meet next week with U.S. Secretary of State Condoleezza Rice. He said there were also plans to dispatch "ministerial-level" representatives to Japan and Russia.

Ban said the government plans to use Liberation Day joint celebrations with North Korea on Aug. 15 in Seoul to talk with the North. It appears South Korean Unification Minister Chung Dong-young will head talks with North Korea's Kim Ki-nam, a secretary with the Workers Party of Korea who will reportedly lead his countrys delegation.

Turning to the question of North Korea's right to peaceful use of nuclear power, the main stumbling block in the talks so far, the minister said, Non-Proliferation Treaty member states have the right to use nuclear energy for peaceful purposes if they undergo IAEA inspections. But he added North Korea needs to build up trust with the international community."

DPRK urges US to change Korean nuclear policy
08/10/2005 -- 11:54(GMT+7)

Seoul (VNA) - The United States should change its policy of forbidding the Democratic People's Republic of Korea (DPRK)'s peaceful nuclear development, said Kim Kye-gwan, head of the the DPRK's delegation to the six-party talks.

"If the US really wants to make substantial progress in the Korean nuclear issue, it had better made up its mind to change its policy," Kim told reporters at Pyongyang Sunan Airport, and added that it is the key for possible achievements in future talks.

He also said that "the DPRK will look at the US's activities" to decide whether it could continue the six-party talks.

Although there were many difficulties, talks of the first phase established a "groundwork" for future discussions, Kim noted, and reiterated that the DPRK's stand on settling the nuclear issue on the Korean Peninsula through six-party talks remains
unchanged.

Meanwhile, US Deputy State Department spokesman Adam Ereli said "good progress was made" during the Beijing talks, even if the DPRK's desire to keep light water reactors was a "non-starter."

Its nice to have a healthy profit after one day! Shares magazine may mention Aminex this week help get this on more peoples radars. However the shrewd investors are already in so they can benefit from multi-bagger potential like this

This was a great call Paul ,even though i was already a holder no way in the world did i think there was going to be much movement in the SP until next year.
Can`t wait for your next tip.
db66