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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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


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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 !.

prefer Isabelle myself!

Is she on MoneyAM ?

New Aminex research note out, link below :

http://www.aminex-plc.com/files/091029_Aminex_Omni_initiation.pdf


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plenty of good Buys this afternoon frm 2.30pm no sells. the next couple of mths will be exciting..

Egyptian well being tested plus a new spud in the USA coming, plus of course this Tanzanian well....I think that the sp will nearly double fom here before any oil or gas is encountered....4 horizons plus gas : good chance of a discovery !.

oooohh !...love this ! a sharp burst upwards ladies and gents....come on Aminex...

What could push this up regardless of anything else is the fact that Andarko (not sure of the spelling)(probably got it wrong there) are ahead with their drilling on the other side of the fence in Mozambique and if they encounter gas or hydrocarbons in their well ....it might have a very positive effect on Aminex's sp...we shall see...

Very true, we may have some "Andarko effect" soon.

hmmmmm I will not hold my breath, I still remember Indago, I think my first buys of AEX was around 25p :):):):)) Well, we shall see....

http://www.iii.co.uk/articles/articledisplay.jsp?section=ShareTips&article_id=10058654&catEnforce=StockWatch

More than hope on show at Aminex

Edmond Jackson 30.10.09 08:42


The FTSE SmallCap shares in oil & gas explorer Aminex (AEX) merit fresh attention for breakthrough as a mainstream 'E&P'. I have followed Aminex on and off for about 15 years with its bull case changing form and yet the shares have not gone through the kind of transformation shown by the likes of Dana Petroleum (DNX), Premier Oil (PMO) and Tullow Oil (TLW), I have favoured, even as energy prices rose substantially from 2003.

Yet there can be an opportunity cost of lapsing into cynicism (there must be quite a few stale bulls here) towards a dynamic E&P as you never quite know which projects may surprise. Aminex has plenty, with news to watch for if you visit www.aminex-plc.com where there is a latest presentation dated 28 October to download.

This is not a 'blue sky' explorer; there is a balance of 'P' to help fund 'E' and limit downside risk. The business model is therefore attractive for an enterprising investor who wants to operate with discipline. But do not assume a share price of 8.75p is necessarily cheap, despite being low-priced. This relates to over 400 million shares in issue, so Aminex needs significant progress to impact per share values.

Interest is being regenerated firstly by Astaire, the company's broker, which has just recently upgraded its net asset value (NAV) estimate to 27p a share. This comprises 13p a share for the producing assets and 14p for exploration (which does not include West Songo-Songo in Tanzania, where evaluations are at an early stage, as well as Egypt).

Bear in mind, such modelling can give highly varied results according to the probability factor involved with 'risking' potential success with exploration, also NAV's can end up in a big range according to the discount rate applied to projected cash flows. The variations are very handy for share promoters to dangle enticing 'fair values'.

Secondly, Aminex has potentially useful exploration news in the near term.

Last Tuesday (27 October), Aminex announced that its Egyptian South Malak-1 well had encountered oil shows, and this is worth watching for the testing results. Aminex only has a 10% interest, however, so the find would need to be substantial.

Potentially of genuine 'high-impact' is drilling in the Ruvuma Basin of Tanzania where Aminex is in 50:50 partnership with Tullow Oil (the operator). As I have described in comment on Tullow, this team is currently as good as they get in exploration - 'making their own luck'.

Drilling became postponed and following a detailed review of seismic data a different prospect - Likonde - has been prioritised, seen as having more robust potential also with regard to oil rather than gas discovery. So watch for news.

Aminex also cites 'greatly increased potential revealed by 3D seismic' at its 100% working interest Shoats Creek gas field in Louisiana, where there is new drilling in the fourth quarter.

At Nyuni in Tanzania, the licence expires in mid 2011 hence there is attention on finding farm-in partners for drilling two wells on 'a new and encouraging play'. Although speculation surrounding North Korea has cooled, management is talking to a potential partner and a visit is planned for November - hence there is just a chance of news.

Besides current prospects in context of broader long-term value creation, the 'technical' situation of Aminex's chart is intriguing.

Over the last nine months, Aminex shares have lagged the recovery in crude oil prices that has re-rated similar companies. Might this be linked to a substantial shareholder base in Ireland, where the economy has been hard hit, so the fan club has lacked zeal?

It may also show how, in testing times, unless exploration prospects are dramatic and close to home (such as with AIM-listed Faroe Petroleum (FPM)) investors tend to prioritise companies with a proven earnings record. In fairness, Aminex's loss record has represented investment spending.

Otherwise, in recent years, the shares have tended to trade in a mid-20p range except for a blip over 40p in 2006 amid speculation over North Korea, and later on a plunge along with oil prices from July 2008.

In conclusion, the investment case rests on a useful spread of interests to impact reserves, for a 36 million company, despite being quite a hotchpotch that is typical of a smaller E&P. Meanwhile, Aminex's financial profile is improving anyway as growing revenue from the US side, also from an oilfield services business, is expected to cover central costs and profits are forecast in 2010.

The company is debt free and funded for its near-term drilling obligations. Over 10 million was raised last summer via a placing and open offer priced at 6p a share, boosting cash reserves for exploration and development. Otherwise the (US$-based) end-June balance sheet was looking a bit constrained with $4.7 million current assets offset similarly by liabilities despite $2.2 million cash.

Balance sheet net assets worked out at $41.9 million equating to 25.6 million or 6.2p per share - so at a circa 50% premium the market price is entertaining some hope value to balance sheet NAV, but not a lot in relation to overall potential. If the company broker's 13p a share valuation for the producing assets is credible then intrinsically there is a margin of safety at the current buying price near 9p.

http://www.investegate.co.uk/Article.aspx?id=200911160700115335C


Good news, and spudding within 2 months all being well. This well has the chance to really multibag Aminex on success BUT the present price is well covered by existing assets. Makes this a lower risk play, but with very good potential multibagging.

Roll on the spudding.

From the SOLO RNS which has more detail :

http://www.investegate.co.uk/Article.aspx?id=200911160700095311C

"Information on the Ruvuma PSA

The Ruvuma PSA covers approximately 12.000 sq Kilometres in the extreme south-east of Tanzania of which roughly 80% is onshore and 20% offshore. Within the PSA are two specific, adjoining licence areas, known as Lindi and Mtwara. The first well to be drilled under the Ruvuma PSA will be on the Likonde prospect, an anticlinal structure associated with a strike slip fault. As noted above, the Likonde-1 well is expected to be spudded in about two months and drilled to a depth of approximately 3,200 metres to test multiple targets throughout the Tertiary, Cretaceous, Jurassic and Permo-Trias Karoo intervals. Aminex have reported that "the Likonde prospect is thought to have the potential for up to 500 million barrels of oil in place."

Commenting, Solo Chairman David Lenigas said:

"This exciting farm-in opportunity with Aminex and Tullow is the first oil and gas deal undertaken by the Company since it changed its investment strategy in July of this year. Likonde -1 is the first hole being drilled in one of the last unexplored major onshore basins in Africa."

"The Company acknowledges this transaction has been successful due to the corporate broking team of Astaire Securities."

http://www.hoodlessbrennan.com/stock-research-prices/small-cap-flash/read/

Aminex (AEX, 8.8p, 36.7m).

The Aminex Q3 statement looks fairly neutral and does not add greatly to the interim announcement. The group is trading broadly in line with expectations. The US business is largely performing with continuing development of small reserves to capitalise on the recovery of oil price. The company is seeking partners to share the risk of deep exploration drilling at Shoats Creek (100% Aminex, so plenty of ability to farm down) where it believes there could be a significant resource. However we are waiting two major pieces of news flow. The first relates to the protracted talks on approval for the pipeline operator to expand its gas treatment plant which would enable it to accept Kiliwani North Tanzania gas (the discovery which tested at 40m cubic feet per day in 2008 (50% Aminex). Of course the second piece of newsflow relates to the Ruvuma well to be drilled in the next couple of months by Tullow (37.5% Aminex following farm down to Solo). Cashflow has been shored up by the recent boost from the Ruvuma farm out. SPECULATIVE BUY.