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


.

Finally something interesting :) Nice buys end of day yesterday and today all day...

cynic is it time to look at this minnow which has a joint venture with your favourite oily(TLW) in Tanzania? EK is long and interims due shortly.Recent placings give them sufficient cash to fund the forthcoming drilling.

AEX spuds in Egypt see RNS target will be reached in 3 weeks.

http://www.moneyam.com/InvestorsRoom/posts.php?tid=14368#lastread

Results received well, with drilling news from Egypt and Tanzania to come shortly, up 10% today.

I wouldn't put too much on for the Egyptian well, 2 dry wells already but the one with Tullow oil looks promising...but then again it could be hit or miss...500 million barrels of oil possibly...I'm in, but i'll believe it when I see it.

Nice to see this moving now. I have built up a nice sized holding in Aminex ahead of the big drill later this year. Bound to be loads of speculative money pouring in given the massive upside potential. The ongoing Egyptian well has little downside but potential for a little bit of upside, but all eyes will be on East Africa later this year.

".........The big news in the Aminex portfolio for the remainder of the year is the spudding of the Likonde-1 well in the Ruvuma Basin of Tanzania, one of the last under-explored river deltas in the world. Aminex has a 50 per cent stake in the Tullow Oil-operated project but is looking to farm this down to manage its exposure to this high impact wildcat. The Likonde well will be drilled to 3,200 metres to test multiple targets throughout the Tertiary, Cretaceous, Jurassic and Permo-Trias Karoo intervals. The well, which has the potential to hold up to 500 million barrels of oil, is expected to spud in early December........"

Looks like the M&P activity next door in Tanzania might have sparked interest. Link below.

News for Aminex too soon ?

http://www.investegate.co.uk/Article.aspx?id=20090918081319P0003

.

what's going on here then, AEX awakening, lots of Buying - has something been leaked I wonder?

No, lots of people were waiting for the ongoing Egyptian drill to be a duster before buying in ahead of the massive Tanzanian drill.

However it might be that as the price is moving they are decided to get in now, just in case its too late and the price starts marching upwards into the big drill later this year.

Couple of mentions in the media for Aminex which might draw attention over the weekend. For me I am looking for over 20p in the run up to the big Tanzanian drill................ :)

http://momentum-trader.blogspot.com/

"..................A couple of interesting tiddlers worth watching for possible further upside momentum are:

Aminex (AEX) - oil & gas stock which has started to move strongly up on much larger than normal volume. 9.25 to buy..................."


And.

http://www.nakedtrader.co.uk/index.htm

"....................One that was crying out for a topup yesterday was Aminex (AEX). Been holding this for a fair while but noticed some huge buyers sitting in the wings on level 2. As Scotty would have remarked: "Looks like she's gonna blow, captain.."

So I picked up a further 40,000 shares at 7.9 and 500 on the spreads at 8.1. Targetting 12, stop 6.5. It raised some cash recently in a placing and with big buyers still sitting there on the orderbook she is blowing higher.

I've also raised the target on the ones I bought at 6.6 to 12. Any move past 10 would be extremely bullish for Aminex..................."

http://www.oilbarrel.com/nc/news/display_news/article/aminex-has-a-busy-q4-2009-with-wells-in-egypt-and-tanzania/860.html

October 20, 2009

Aminex Has A Busy Q4 2009 With Wells In Egypt And Tanzania

The final months of 2009 should prove interesting for investors in Aminex, who, after January’s announcement of a successful well on the South Weslaco field in Texas, have endured a rather dull year. Now, however, the AIM company, which is due to appear at oilbarrel.com’s October 28 conference, is drilling ahead in Egypt, where the South Malak-1 well is being deepened after encountering thicker than expected zones in the Miocene, and gearing up for the December spud of the high impact Likonde-1 wildcat alongside African exploration big hitter Tullow Oil.

This should make up for the dearth of activity over most of 2008 and 2009. Despite holding a promising footprint in the emerging exploration play of East Africa, Aminex has been stymied by funding constraints: in this, the small cap E&P is not alone. The lack of activity has, however, proved frustrating for investors: since the high hopes of the early 2008 Kiliwani North-1 gas strike in Tanzania, there has been little activity in East Africa, with the 22 month period seeing just two successful wells in Texas – at South Weslaco and Alta Loma - and two dud wells in Egypt.

This could be about to change, however. The third Egyptian well on the WEEM-2 concession in the onshore Gulf of Suez region is being deepened in the most promising indication from this exploration campaign to date. Even so, there is not too much for investors to shout about: Aminex has just a 10 per cent stake in the South Malak-1 well, although its costs are free carried so that any discovery is all upside for the AIM firm.

Then there’s the long-awaited spud of the Likonde-1 well in the Ruvuma Basin in southern Tanzania. This is one of the jewels in the Aminex portfolio and following a fundraising earlier this year, the company has the cash to fund its share of the costs (Aminex has a 50 per cent interest). The area has attracted increased industry investment in recent years, with super-independent Anadarko Petroleum committed to drilling seven wells on its acreage on the Mozambique side of the basin. The US firm has described the Ruvuma Basin as a look-alike of the Gulf of Mexico or Niger Delta, a comparison that will have Aminex shareholders salivating.

Investors will also be hoping for some near term newsflow from the Nyuni licence, home to that 2008 gas strike at Kiliwani North. The discovery was announced in early 2008 and later tested at 40 million cubic feet per day. Although the find lies close to the producing Songo Songo gas field, development has been stalled by lack of capacity at the existing production facilities.

Recent seismic over Songo Songo Island should provide better definition of the Kiliwani North structure while reprocessing of existing seismic over other prospects on the Nyuni licence is said to be well-advanced, with a number of prospects almost drill-ready. Any indication of reserves at Kiliwani North and the potential upside in nearby prospects would be welcomed by investors, particularly as Aminex last month increased its stake in the Nyuni licence by 10 per cent to 50 per cent.

Under the terms of an agreement with licence partner EAX, Aminex transferred its 25 per cent interest in Blocks L17 and L18 offshore Kenya and paid US$1 million in cash, a deal that values the additional 10 per cent stake in Nyuni at US$1.7 million. The move consolidates Aminex’s position at Nyuni where there is near-term development potential and removes the exposure to a higher risk exploration play in Kenya. There are also hopes that plans to expand the gas plant at Songo Songo will shortly receive the regulatory go-ahead, paving the way for the development of Kiliwani North.

Investors may have had a long time to wait but the coming months should make up for that, with the spudding of Likonde-1 in particular likely to inject some momentum behind the share price.

RNS Number : 3986B
Aminex PLC
27 October 2009

SOUTH MALAK-1 WELL TO BE TESTED

Aminex PLC ("Aminex") announces that the South Malak -1 well in the West Esh El Mellaha PSC area, onshore Gulf of Suez, Egypt, has now been drilled to a total depth of 11,200 feet. Oil shows were encountered in Pre-Miocene Matulla sand stringers from 10,858 to 10,900 feet and high gas readings were encountered from 10,300 feet through to total depth. The well has now been logged from the base of the last cased section, at 2,725 feet, down to total depth.

The hydrocarbon shows encountered, together with log analysis, support a testing programme in four potential zones. The well will be cased to 11,030 feet leaving the bottom 170 feet uncased in order to conduct an open hole test of possible fractured Granite Wash and Basalt. The remaining proposed tests will be conducted over the cased portion of the well.

The testing programme will commence once casing and cementing have been completed which are estimated to take several days. Aminex has a 10% carried interest in South Malak-1 through its shareholding in Aminex Petroleum Egypt Ltd.

A further announcement will be made once the testing programme has been completed.

finally, I was waiting for soooooo loooooooooooooooooooooong!!! :)

Third time lucky it has come right !.

The new Aminex presentation at the link below :

http://www.aminex-plc.com/files/Aminex_Oilbarrel_Conference_Wed_28th_Oct_2009.pdf


.

Thanks Proselenes....looks very promising indeed !.

If this hits a good oil strike in this next well and from what I can see there are something like 4 horizons plus the possibility of gas then we are looking at the sp shooting up to above 30p at least if not more, plus the Egyptian testing (small percentage held there) and the income from the USA....and would you believe it the possiblity of having exclusive rights to drilling in North Korea (if the nuclear issue is resolved there)....market cap of 31 million pounds with no debt and I think 10 million pounds in the bank ......did I hear you say buy ?.

cap of 37m and EMS of only 15000 (1250) does not entice me ..... if they strike it lucky then i'm delighted for you all as sp will assuredly rocket away, but think i'll stick with their big bro TLW

I'm in both.....it is Isable (main market)....and no debt : that I like !.