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

Think we might just see a pull back on this one short term. I'm a bit more cautious now in my old age I would like to sell and buy back but its extremely hard to time might wait and top up after the dip

Hi All,

Well the MM's are still calling the shots here, not the investors ....

Trade number 5 today, an MM sell at 15.75, followed by a drop on the bid of .25p, then within a few minutes the bid and ask are both down .5p on the day ....

Easier to read than the beano .... LOL !

Cheers,
PM

Aminex PLC
01 September 2005

AMINEX PLC

Notifiable Interest

Aminex PLC ('the Company') announces that, following the Company's recent
Placing and Open Offer, it was notified yesterday that OAO Zarubezhneft has an
unchanged, beneficial holding in the Company of 8,697,113 Ordinary Shares of
0.06 each. This represents 5.54% of the Company's share capital.

1 September 2005

Enquiries:

Aminex PLC
Max Williams 020 7240 1600
Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

The Russian's know there is OIL in DPRK !!!!

The Russian's know there is OIL in DPRK !!!!


Zarubezhneft Restructured As Open Joint Stock Company
MOSCOW. Feb 6 - Russian President Vladimir Putin has signed a decree restructuring the state foreign trade company Zarubezhneft as an open joint stock company and fixing 100% of shares in state ownership.

According to the decree, federally owned shares in OAO RMNTH Nefteotdacha, amounting to not less than 75% of charter capital, will be included in the Zarubezhneft charter capital.

In addition, it has been decided to exclude Nefteotdacha from the list of joint stock companies that produce strategically important products.

In turn, it has been decided to include OAO Zarubezhneft in the list of strategically important companies, after its restructuring.

Zarubezhneft does not produce oil on Russian territory. The company owns production assets off the Vietnamese coast on an equal basis with PetroVietnam, and has a share in the West Qurna project in Iraq.

Hi All,

The RNS today shows that a Russian State Owned oil producing company is willing to pump 3/4 of a million pounds into Aminex, they must have a good idea how much oil is offshore DPRK, from all the historical Russian drilling there.

IMVHO the news will eventually push the price up through the previous high of 17.14p, and up to the support/resistance level of 20p, but the way AEX has been going lately, it could then move up to the next levels at 23.32p then 27p

A 3 year breakout occurs at 25.5p, and within 2 weeks we would likely see a golden cross formation, which would suggest a long bull run. The 200 M.A is already rising nicely, and the 50 M.A is heading straight for it :)

Cheers,
PM

Hi PM

May be a stupid question, but supposing AEX strike it rich in DPRK then what cut of the oil that is extracted can we expect to see going the way of the company coffers. Bought in at around 12.5p and haven't yet heard this discussed much.

Your views as always will be greatly appreciated.

Gary Hi and thanks :)

They say the PSA is standard for the oil industry, so I think they would likely get 5% to 10% of anything they don't have the licence for, so maybe 20% to 30% of anything they do have the licence for .... which just happens to be ALL the prospective areas .... LOL !

If anyone knows better, feel free to let us know !

I have E-Mailed Edison Research again, to find out when their note is expected(that may shed some light !), and to discuss the Russian shareholder .... LOL !

Cheers,
PM

Tanzania, from our partners Bounty Oil & Gas, says new Seismic 'soon' and another well next year, also is very positive about the oil shows from Nyuni-1 ....

http://www.gtp.com.au/gtp/icommerce4/story/viewStory.jsp?owner=bountyoil&id=7138

Many thanks PM

I appreciate its still early days but its good to have some ballpark figures to throw around. Keep up the good work. :)

PM 1: Thanks for all the info on Zaruba, it's saved me a lot of research on the web.
Topped up my ISA with another 50k shares this afternoon, just as they narrowed the spread and got them @ 15.75. Much easier buy than it was on Friday- presumably has been some profit taking which improved liquidity.
sd.

Squidd Hi,

Here's a bit more for you :)

Cheers,
PM

http://www.nestro.ru/www/nestroweb.nsf/main_eng

Zarubezhneft is the leading foreign economic enterprise in the oil and gas industry of Russia, which has a long and rich work history.

Our priority fields of activities have always laid in development and implementation of complex oil and gas programs and projects abroad, covering all stages from exploration to facilitation of oil fields on land and offshore.

Thanks to the high professionalism of its employees, use of extensive experience, gained during the years of work, coupled with the latest scientific achievements in the oil and gas sector, the enterprise has won a reputation of a reliable partner in the market.

During the last few years the enterprise achieved much success: the geography of projects became considerably wider, new prospective fields of activities are developing, several new joint ventures were set up. The input of Zarubezhneft into the federal budget increased significantly and remains at the high level of over USD 0.5 billion per year.

Nevertheless, we regard this success only as a start for Zarubezhneft to turn into an enterprise which, without a doubt, will take a worthy place among the leading oil companies of the world.

Director General of "Zarubezhneft"
Nikolay Tokarev


The main objectives of the Company's activities are organization of the effective work in the Russian Federation and abroad in order to satisfy social needs in the Company's activities results and to receive profits, taking into account securing of the state interests of the Russian Federation.



The priority fields of the Company's activities are:

exploration, development and operation of oil and gas fields abroad;

design, construction and operation of oil refineries, tank farms and pipeline systems;

application of advanced Russian technologies for oil field development;

testing and export of modern hi-tech methods for oil recovery enhancement;

export-import operations for technological equipment supply.
In the process of development and implementation of integrated oil and gas projects Zarubezhneft carries out the following operations:

oil and gas field exploration, including engineering, geological and geophysical surveys;
drilling, testing, exploitation, workover operations and abandonment of prospect, exploration, cored, producing and injection wells;
oil and gas field development, including construction of pipelines, oil and gas gathering, separation, measurement and transportation facilities, installations for the injection of water, gas and other working agents as well as construction of production support and general purpose facilities;
oil and gas production, treatment, transportation, storage and marketing
construction of offshore facilities (platforms, units) for well drilling, oil and gas production, water injection and products shipment;
oil refinery construction, upgrading and operation, oil and gas refining and marketing;
design, construction and operation of transportation and pipeline systems;
foreign economic activities, including export-import of hydrocarbons and hydrocarbon products, including the state share of hydrocarbons produced on oilfields developed under PSA terms;
scientific research, design and development works with the view of improving the existing and creating new methods and technological means for oil and gas field exploration, development and production;
preparation of engineering, design and account evaluation documentation for field exploration, construction and development operations, construction and upgrading of production and general purpose facilities; appraisal of projects prepared by contracting organizations;
services for operations security and environmental and subsurface areas protection; environmental condition monitoring;
emergency, security and recovery works;
personnel training, selection and job placement of Russian specialists abroad.

WOW !!!!

PROFILE, Magazine, February 03, 2003

Interview with the General Director of the State Enterprise Russian Foreign Economic Association Zarubezhneft.

By Ekaterina Drankina.


Half a billion US dollars. This is the annual input into the budget made by the state enterprise Zarubezhneft, which is respectably called The wallet of the President. The head of the enterprise Nikolay Tokarev has a reputation of a verny putunets Putins stalwart. He is very careful about what he says on the tricky subject of Iraq (the enterprise has been working there for a long time and is not going to leave this country in spite of everything), but he really enjoys himself, remembering the file, which contains all the materials about the Russian oligarchs, reaching out for Zarubezhneft.

Read the rest of the interview here ....

http://www.nestro.ru/www/nestroweb.nsf/554c7e081b919700c3256c2100282e3c/1781e257660fea9bc3256cdb00389a99?OpenDocument

ready for next jump.

ready for next jump.

ready for next jump.

Bank of England Governor in Oil Cost Warning

----------------------------------------------

Mervyn King, Governor of the Bank of England warned yesterday in an
interview with the Belfast Telegraph that:

"Some of the increases (in the oil price) in the last couple of
weeks are almost certainly temporary but the big increase over the
last year will remain.

"Those increases are the result of strong global demand for oil,
particularly from China, and the price of oil futures shows that the
markets do not expect an early revision to the low oil prices we had
got used to a couple of years ago."

To examine the investment opportunities that we believe now exist
through investing in energy stocks, Investec Asset Management will
be hosting a Global Energy Funds Conference call featuring Tim
Guinness, Manager of Investec's US$1.15bn* Global Energy Funds on:

Wednesday 21st September at 2.30pm (UK time)

To find out more, or to register please visit:

http://www.ProcessRequest.com/apps/redir.asp?link=XcbgiddcCF,ZcbdjibghiEF&oid=UdbggBG&iclitemid=YcdgiaafbCF&tid=WiafbicCE

Kind regards,


David Aird
Managing Director
Investec Fund Managers Limited

Hi All,

Nicely up 5.5% today, still going for more later methinks.

I E-Mailed Edison Research to ask them when the next note would be out, they replied as follows ....

-----------------------------------------------
note has been held up due to the nature of news flow on the company but as you say things are looking good with the support of a strong oil price - need to see how drilling goes in Tanzania.

kind regards,

Fraser Thorne

Managing Director
Edison Investment Research Limited
-----------------------------------------------


Cheers,
PM

Only 280,000 sold so far, and 1,217,821 bought !

It's only going one way still, following the RNS yestaerday, and more MM buying(buy signals ?) this morning ....

Cheers,
PM

Hi
Been on holiday with the children, I see AEX is doing well as expected. I forgot to leave a note for BLR. Its been doing well. There is still more upside to come.

Diana Hi,

You reckon ????

Any particular reason ????

Cheers,
PM