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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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.

I would say- very important news would be from the other side of the border, if they will hit something it should be a good news for Aminex, would that kind of news affect our shares? Don't know but it seems to be that this 10p is a magic limit at the moment:):):):)

If the well in Mozambique strikes lucky it will effect Aminex shares, but is the geology the same over the fence...?....perhaps.... and how far away as the crow flies is that well ?...not sure....if it's anything more than 10 miles....could be a different structure.

Is that a good time to increase our holding or there is something out there we don't know yet....many sales on Friday...

How can you increase holding on something you don't know ? LOL

Roll on the late January spud......500 million barrels potential.


http://www.theeastafrican.co.ke/business/-/2560/814322/-/4gsmqwz/-/

British oil firm lands lucrative deal in Tanzania’s virgin basin
By MIKE MANDE (email the author)
Posted Monday, November 30 2009 at 00:00

In Summary

12.5: Percentage of pre-drilling costs amounting to $1.25 million, that Solo Oil will reimburse Aminex

18.75: Percentage of the drilling cost of Likonde-1, amounting to $3.4 million, that Solo Oil will pay Aminex

12,000: Estimated area, in square kilometres, that the Ruvuma PSA, in which Likonde-1 is, covers, of which 80 per cent is onshore

500: Projected oil production capacity of Likonde well, in millions of barrels


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British firm Solo Oil will spend $10.7 million to fund a buyout agreed upon with Aminex for a 12.5 per cent interest in the Likonde-1 well in Southern Tanzania.

The transaction will see Tullow Oil owning 50 per cent of Likonde-1, Aminex 37.5 per cent and Solo Oil 12.5 per cent.

Likonde-1 is the first well scheduled to be drilled under the Ruvuma Production Sharing Agreement in southeastern Tanzania, with spudding likely in about two months.

Subject to approval

Under the terms of the farm-out agreement, Solo Oil will reimburse Aminex for 12.5 per cent of pre-drilling costs amounting to $1.25 million and pay 18.75 per cent of the drilling cost of Likonde-1 ($3.4 million).

David Lenigas, chairman of Solo Oil, said the farm-out agreement is subject to formal approval from the Government of Tanzania and the passing of the relevant resolutions at the company’s general meeting.

“If Solo exercises this right it will also become a full party to the Ruvuma joint operating agreement,” Mr Lenigas said.

According to Mr Lenigas, participation in the agreement will cost Solo Oil an estimated $4.5 million.

The balance, which is expected to exceed $3 million, is expected to be used to strengthen the company’s balance sheet and for general working capital.

Exciting opportunity

“This exciting farm-in opportunity with Aminex and Tullow is the first oil and gas deal undertaken by the [Solo Oil] company since it changed its investment strategy in July this year. Likonde-1 is the first well being drilled in one of the last unexplored major onshore basins in Africa,” said Mr Lenigas.

The Ruvuma PSA covers approximately 12,000 square kilometres, of which 80 per cent is onshore. Within the PSA are two specific, adjoining licence areas, Lindi and Mtwara.

The Likonde prospect, an anticlinal structure associated with a strike slip fault, is thought to have the potential of producing 500 million barrels of oil.

Hi Proselenes. Whats your theory ? I'm just a part timer so I would appreciate your explanation :):):)
I assume it has something to do with last movements...

Thanks

Presently the market is going through the normal year end selling, as people take profits and money off of the table ahead of the holiday period.

For AEX, well, things will liven up in January for sure, I would expect AEX to be over 10p to buy end of Jan and higher than that come end Feb.

Shoats news is due, as is news on seismic, and of course, the big drill spud due late Jan.

Around 7th of Jan it is for spudding then.


RNS Number : 1052E
Solo Oil Plc
15 December 2009

COMPLETION OF FARM-IN WITH AMINEX PLC IN TANZANIA

Solo Oil Plc ("Solo") announces that the conditions for completion of its farm-in with Aminex PLC("Aminex") for a 12.5% interest in the Likonde-1 well on Aminex's Ruvuma Basin PSA in southern Tanzania have now been met and the farm-in is therefore formally confirmed.

Likonde-1, in which the partners are Tullow Oil PLC (50% - operator), Aminex (37.5%) and Solo (12.5%) is likely to be spudded on or around 7 January 2010. A further announcement will be made when spudding has actually occurred.


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. The Likonde-1 well is targeted to be 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."

Using the Macquarie figures below, based on TLW with 804m shares and 50% and then AEX with 413m shares and 37.5%, it makes the unrisked upside figure for Aminex on this well at 68.3p a share.

Not bad upside from circa 8p a share is it, especially when at the present price the other assets are worth more than 8p excluding this big African well potential.


"Macquarie :

Aminex (AEX LN) has completed the farm-out of 12.5% WI in the Likonde-1 Well, Ruvuma Basin PSA, Southern Tanzania to Solo Oil (SOLO LN) (Source: Company press release). AEX retains 37.5% WI with Tullow Oil (TLW LN,1290p, O, TP 1400p, Brendan Warn) having the remaining 50% WI. The well is expected to spud in early January. We carry a 125mmboe prospect at 4.4p risked at 10% CoS, 46.8p unrisked for TLW."

Interesting. RAK becoming involved with some projects might be of interest and benefit to AEX (particularly Natural Gas projects and developments).


http://www.ameinfo.com/219804.html

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3.3 million buy at 9p.

Looks like the overhang is getting taken up now, should do, lots of news due soon and spudding of the big well on top of the other news.

Buy orders building up, I think someone is going to clear out this overhang now, which means we could be on for a test of 10p.

finally :):)

Out of interest on line limits suggest strong demand is there.


Max Buy = 50K at 9.5p

Max Sell = 375K at 9.18p



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Max Buy = 10K at 9.5p

Max Sell = 375K at 9.35p

Unrisked 160p a share.

Risked 27p a share.

Well worthy of an investment when its presently undervalued, and you have a large upside potential well about to spud in the coming days.

Given the strength of the past recent days I am half expecting a strong surge past 10p in early January, might even be next week.




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Worth remembering as it appears many forget, Aminex is a fully listed company (its not on AIM) and therefore you can put it into an ISA.

For those who avoid AIM companies, you have no worried with Aminex in that respect.