.

I see Shares Mag has AEX tipped as a buy today.

Mistake though, they say AEX:AIM

ITS NOT AIM.

ITS MAIN MARKET listed, you can ISA Aminex.

lar next step will be hear soon

Perky again today.

keeping an eye here - shouldnt be long before over 6p imo

Not there yet then......... more to go.

http://www.investegate.co.uk/Article.aspx?id=201201270700152736W

Aminex PLC
NTORYA-1 DRILLING UPDATE
RNS Number : 2736W
Aminex PLC
27 January 2012

NTORYA-1 DRILLING UPDATE

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces a further update on drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania.


The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. Ntorya-1 is expected to reach total depth around the end of January.

The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Aminex estimates that the Ntorya Prospect has a probability of success of around 20%, with mean recoverable resource potential of 100 million barrels of oil equivalent.


Partners in the well are:

Ndovu Resources Ltd (Aminex) 56.25% (operator)

Tullow Tanzania B.V. 25%

Solo Oil plc 18.75%

Interesting to read this report.

http://www.firstenergy.com/research/documents/Facts-C-ORC_B-2011-12-14.pdf

So first of all, Orca could lose the Songo Songo PSA (and Aminex might be in pole position to take it over if Orca are ejected from it).

We also have confirmation that the Chinese pipeline being built could bring gas from down south to the capital (and yes so if Ntorya-1 is gas this can connect into this pipeline and so infrastructure is being put into place for by default for a Ntorya-1 gas find - but oil is more valuable of course so oil please but if not then gas).

The potential to take over the Songo Songo PSA might be another reason our Thai/Chinese friends are involved, they put the financial clout behind Aminex so the Tanzanian government know that money is not a problem now, if they were to give the Songo Songo PSA to Aminex then progress would be fast.

proselenes, what do you see as a realistic chance of success at Ntorya ? in the
RNS they state 20% but that is normal in the oil industry.

Around 1 in 4 I say, so 25%.

Thats a good chance when it comes to drilling wildcats, but still 75% chance of failure.

News should be soon, anytime in the coming days IMO.

lar . i will be there at 4.30 tomorrow if the train is on time
see you in meg

Perky perky....... news soon ?

http://www.bloomberg.com/news/2012-01-16/poorest-nations-host-biggest-gas-finds-in-sign-of-deals-energy.html


...........“You’ll see the majors becoming more dominant through acquisitions,” said Stuart Joyner, an oil and gas analyst at Investec Securities in London. “A lot of the independents that really have been the vanguard in terms of opening the new province will sell out as things start to move out of the exploration stage.”................

Think we will get some news this week.

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Aminex, huh!

Its quite interesting - the wording of the AEX, compared to that of the SOLO RNS.

"Wireline logs and check shot data will now be recorded to determine whether or not to drill further."

"Wireline logs and a seismic check-shot survey are now being recorded in order to evaluate the section already drilled and to determine if additional drilling is worthwhile."

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Gawd knows!

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