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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That's what I'm hoping for.....most stocks with AEX's potential would, but looking at the charts would suggest otherwise.....but then a gas strike like this doesn't come along that often so fingers crossed; let's hope that the sp remains at least above 25p...anything below would say : "screaming buy" to me.

Davy have now upgraded the target price to 45p.


5th June 2008 Flash Note: Well result and increased NAV per share

Aminex

Price: 27p Target: 45.0p Issued: 05/06/08 Previous: 26.0p Issued: 11/02/08

East African pathfinder gets deserved result
Kiliwani North-1 tests 40m cubic feet of gas per day

Kiliwani North-1, the second well in Aminex's 2007/2008 East African exploration programme, has produced 40m cubic feet of gas and 40 barrels of condensate per day on test. This is a very good flow rate.

The scale of the discovery is not certain at this stage, and further seismic and appraisal drilling will be required. However, we estimate that a median resource of 100 BCF (billion cubic feet) is a good working assumption for now.

One of the major effects of this result is that it should reduce the risk associated with the prospect inventory on the two licences in which Aminex is involved in this area. Gas will be commercialised

The well is located very close to the existing Songo Songo gas field, which produces through a pipeline that connects to markets onshore Tanzania.

Existing production from Songo Songo of around 60m cubic feet of gas per day is through a gas line with a capacity of over 100m cubic feet of gas per day. The line is not compressed.

Gas is sold for power generation and to a growing industrial market.
Major review of valuation

The immediate impact of the Kiliwani discovery is to de-risk our reserve estimate. This adds 4p per share to our pre-well NAV of 26p per share for Aminex.

However, we believe the other prospects on the Tanzanian licence package have been de-risked and should now be included in a valuation. This adds circa 7p per share. We have also increased our target estimate for Ruvuma (now
200m barrels versus 100m barrels formerly). This adds a further 8p per share.

Taken together, our new NAV per share for Aminex is 45p.

Thanks PapalPower, always interesting to read as usual !.

No luck on the drilling in Egypt so far !, but at no expense to the company....USA and Tanzania should support the sp.

Topped up right down in the dip....must be more to come from this !

We will never get anywhere if sp will play like that :(

New article HERE

here we go again....:(:(

Good news today....in the long run this will do fine, but it will take time.

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1216346445&feed=oilbarrel_en

18.07.2008

Aminex Confirms Commercial Viability Of Kiliwani North As It Examines Fast-Track Development Options

Aminex issued a welcome update on its plans for the Kiliwani North1- gas discovery in Tanzania on Thursday, sending shares in the London-listed explorer up eight per cent.
The company has confirmed the gas strike is commercially viable and is exploring options for a fast-track development to monetize the find.

Kiliwani North-1 in the Nyuni licence was drilled early this year, encountering a 60 metre gross gas column in Lower Cretaceous sands. A 20 metre interval was perforated and flowed 40 million cubic feet per day under test. The London firm has now applied to the Tanzanian Government to carve out a separate appraisal area for the Kiliwani North discovery while the remainder of the Nyuni licence will continue to be explored according to the licence terms. There is certainly plenty more to play for here: the Kiliwani North structure extends to the north, beyond the range of the current seismic, throwing up hopes of significant upside, while the success of the KN-1 well has de-risked other prospects on the block, which together could add up to more than 1 trillion cubic feet of gas on a risked P50 basis. Aminex is operator with a 40 per cent interest.

The key to unlocking the value of this possible resource base will be finding a market for the gas. The neighbouring Songo Songo gas field proves this can be done: it supplies gas from processing facilities on Songo Songo Island, which is connected to the mainland via a 12-inch subsea pipeline which in turn connects to a 16-inch pipe that runs 200 km to Dar es Salaam.

The question will be finding a solution for Kiliwani North, which lies just 3 km from the Songo Songo gas processing facilities. The Nyuni joint venture has access to this common-user pipeline but there is limited capacity unless there is investment in expanding the existing processing facilities and, longer term, in increasing the pipelines capacity, either via compression or the construction of a twin pipeline. These are long term, capex-heavy investment decisions and dont fit with Aminexs goal of extracting some near-term value for patient shareholders from its long-running exploration campaign in Tanzania. Accordingly the company is undertaking studies to identify fast-track, temporary alternatives for producing the Kiliwani North gas commercially: investors will be keen to learn more about the outcome of these studies.

One thing seems certain: there is likely to be local demand for this gas in a country where energy shortages are holding back industrial development and the rising price of oil is exacting a heavy price for its dependence on imported fuel oil. According to Aminex, the Government has made it clear it attaches great importance to the development of a domestic gas industry as rapidly as possible. And Aminex believes it is well placed to help with that development: the London firm now has interests in virtually all the acreage that surrounds Songo Songo, making it well placed to find any look-alikes of this large producing field.

There are certainly clear signs that Aminex is focusing its resources on this project, having recently sold off its interest in Madagascar for US$250,000 in order to focus on its Tanzanian acreage. Certainly progress in Madagascar has been slower than anticipated and chief executive Brian Hall has made clear on a number of occasions that working in this environmentally sensitive region would come at a price. It now seems that price was too high and the US$250,000 proceeds from the sale will be directed to Tanzania, where there is the promise of bigger, better and, importantly, sooner returns.

Meanwhile, on the other side of the world, the company is currently busy in Texas where the Sunny Ernst-2 deep exploration well is drilling on the Alta Loma permit. Deep gas is a hot play in drilled-up Texas, opening up new horizons to feed this energy-hungry economy. The SE-2 well will drill to a total depth of 4,630 metres to test the proven 'S' sand, the Upper and Lower Andrau sands and the Tacquard sand. Aminex, which has a 37.5 per cent working interest in the project, already produces gas from a different prospect in the adjoining Sunny-Ernst-1 well. Success here could be significant for Aminex, which has long seen its producing properties in the US as a nice counter to its East African adventures, contributing to the bottomline and providing a nice rainy-day asset to be kept in the back pocket for possible divestment in the future.

PapalPower it looks like we are the only two people who can see something in this company, can't understand this sp, where is the logic ?

Unloved AIM stocks, simple as that.

Might take a year or two to recover.

Thought AEX was fully listed company, not AIM

Indeed sorry, should have said "unloved small caps".........

still good future i think, I'll keep it

Gas find announced yesterday...anyone interested

drhooper, probably everyone interested, but this company is really unlucky, nice finding but qestion of time when sp will go down again:):) I'm still holding

Another discovery, and it only goes up by a penny....more and more ridiculous....at this rate there will be no point in investing on the stockmarket...getting really fed up with no increases here !.

Not very good results but the discoveries are looking great for the future....a little gem in the making ?.....in a year this will look a lot better.....if it is not bought out by then !, just a shame it does not want to go up now.

RNS Number : 9940G
Aminex PLC
30 October 2008

30 OCTOBER 2008

AMINEX PLC
SIGNIFICANT WELL TEST RESULTS

SUNNY ERNST-2 WELL FLOWS 6.14 MILLION CUBIC FEET GAS AND
342 BARRELS CONDENSATE PER DAY FROM THE FIRST OF THREE PRODUCTIVE ZONE

Aminex PLC ('Aminex') announces the results of the first phase in a testing programme at the Sunny Ernst-2 well ('SE-2'), Alta Loma, Galveston County, Texas.

The first phase of testing programme at SE-2 has materially exceeded expectations. The well is expected to transform Aminex's existing US production and to make a material and immediate contribution to cashflow.

http://www.investegate.co.uk/Article.aspx?id=200810300700089940G