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

Any thawing of relations between North Korea and the West will have an immediate, although small in the great scheme of things, effect on the share price. I can see the share price settling in the 25p-35p range quite easily on any progress next week.
In the long term there is the potential of huge gains but one step at a time for now.

K******

Zarubezhneft have sold some stock, but they aren't saying how much ....

Aminex PLC
09 September 2005

AMINEX PLC

Notifiable Interest

Aminex PLC ('the Company') announces that it has today been notified that OAO
Zarubezhneft is the beneficial owner of less than 5% of the Ordinary Shares of
nominal value 0.06 each in the Company.


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

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.

I have topped up again today and bought 74,196 @16p. Regardless of what happens in the talks between the Koreans and the US in short term. In the long term Korens will have to sort out the nuclear issue and open up to the world in order to tap into their natural resources. AEX will then reap the benefit.

An interesting article about future oil price. Oil may average $93 in 2007.
http://www.bloomberg.com/apps/news?pid=10000082&sid=aWJgsbCFqveY&refer=canada

U.S. says ready to settle N.Korea nuclear issue
Mon Sep 12, 2005 6:33 AM ET

SEOUL (Reuters) - The United States is ready to seek a negotiated settlement at multilateral talks on dismantling North Korea's nuclear weapons programs, the top U.S. negotiator to the discussions said on Monday.

The talks went into a recess on August 7 after the six countries involved failed to reach agreement even on a statement of principles during 13 days of discussions in Beijing.

That fourth round of negotiations between the United States, the two Koreas, Japan, Russia and host China will resume on Wednesday after a five-week recess for the delegates to consult with their capitals.

"We've used the one month very productively in Washington, we're ready to sit down and negotiate and try to finish this thing," said Christopher Hill, assistant secretary of state for Asia and Pacific affairs.

"But the question is what the DPRK has done in that one month," added Hill, who was speaking ahead of a meeting with South Korean Unification Minister Chung Dong-young. The North's official name is the Democratic People's Republic of Korea.

Separately, Hill is also due to meet his South Korean counterpart to the talks, Deputy Foreign Minister Song Min-soon.

There have been signs of some policy divisions, particularly after Chung said North Korea has a right to a peaceful nuclear program -- a key sticking point in the six-party talks.

U.S. officials have expressed concern about the North having any sort of nuclear program, saying the country could use a civilian program to develop weapons.

Hill, who will head to Bejing on Tuesday for the talks, said last week that North Korea, which is battling energy shortages, should seriously consider a sweetener from South Korea to supply it with electricity about equal to its own output after it dismantles its nuclear weapons programs.

Chung will head to the North Korean capital, Pyongyang, on Tuesday for ministerial-level talks on issues such as confidence-building measures between the North and South Korean armies. The two Koreas are technically still at war because the 1950-1953 Korean War ended in a truce and not a peace treaty.

just bought into these--hope the talks are successful!! and you can put these into an ISA whoever asked!

aex ready for next move up.

Oh good.

Tanker Hi,

Look out for the MM buying to start again, there weren't any MM buys today, maybe there will be tomorrow, but I will take that as the signal to top up :)

Alternatively set a buy order at 17p/18p, just in case news, Edison note, or DPRK Nuclear Agreement arrive suddenly over the next few weeks :)

Cheers,
PM

Garypat2 Hi,

I have an E-Mail waiting for you, but I can't reply to MAM-Mail, and you don't have MAM-Mail set up, I need your E-Mail address to reply :(

Send me your address in a MAM-Mail !

Cheers,
PM

North Korea is attracting more and more investors attention
UK group to launch $50m N Korea fund
http://news.ft.com/cms/s/eac2632a-22f3-11da-86cc-00000e2511c8.html
full article is available as subscription only

A London-based fund is offering adventurous investors the chance to participate in one of the last frontiers of global finance, through the soon-to-be launched $50m Chosun Development and Investment Fund dedicated to North Korea.
What does this say for AEX?

Kays Hi,

I saw another fund launched last week, although I don't remember if it was North or South related, they claimed it would offer huge growth better than many Asian countries ....

I wouldn't be too bothered either way by these funds, because the potential for AEX really is massive, we just need that non-nuclear proliferation treaty signed, do some seismic and drilling, get a few big oil companies as partners, and were made :)

Cheers,
PM

Hi Paul,

Precisely my point! Why invest in these so called funds when you can do your own research and invest in a company like AEX when you know rewards can be enormous.
The setting up of these funds basically means that the market is looking at the huge benefit N Korea has to offer.

I'm topping up again as we speak, nicely wrapped under the ISA umbrella.

How long are the talks starting today, expected to last?

Hi Paul - I do like your posting :-

" we JUST need that non nuclear proliferation treaty signed, DO some seismic AND drilling, GET a FEW big oil companies as partners , and were made"

No problems then - all by when ? - next Tuesday??

I do like this company - and I do like your research - and i do like optimism - but !!!

.......

Baza (tongue in cheek)

Baza Hi,

All that will be in place by end of next year :o)

Could make AEX a 1 year 10 bagger ....

Cheers,
PM

Reuters reporting....US delegate at 6 party talks dismessed NK's demands to be allowed a civilian atomic energy plan.....one of the most important elements is a very significant conventional energy proposal, which would get DPRK electricity at a very early date. South Korea has offered to supply the North with 2000 megawatts of electricity, roughly total north's power output, if it scraps nuclear plans. The talks are open-ended and Chung (S Korea minister) has said "we need to seize this historic opportunity"

Latest news from DPRK ....


Talks deadlocked on light water reactor
Sep 14, 2005, 17:42 GMT

BEIJING, China (UPI) -- The first full day of six party talks ended Wednesday with North Korea insisting on its right to nuclear energy and renewed demands for a light water reactor.

Early Wednesday state-run Chinese media gave its interpretation of the main participants` positions in the talks which resumed Tuesday after a break of nearly five weeks.

The China Daily said 'the Democratic People`s Republic of Korea regards peaceful nuclear activities as one of its rights, and a key sector for its economic development. The U.S. should reverse its insistence the DPRK give up all nuclear activities. The DPRK will never waive its right to conduct peaceful nuclear activities.'

The newspaper said the United States 'rejects Pyongyang`s insistence it can use nuclear energy for peaceful purposes. The DPRK must dismantle its nuclear weapons in a complete, verifiable and irreversible manner.'

It added that 'Pyongyang`s demand for a civilian reactor is not considered a major stumbling block' however this statement proved not to be the case after the first day of negotiations.

Top U.S. negotiator Christopher Hill told reporters late Wednesday that the day consisted of bilateral meetings with all the other delegations. He said the encounter with North Korea was lengthy, but one in which 'we did not make a lot of progress.'

'The DPRK is quite insistent that they want to include in the agreement a light water reactor,' Hill said. 'It`s very clear that they wanted to spend today as a sort of 'light water reactor day' I hope this does not become light water reactor week because there are not too many other ways I know how to say no,' he added.

The envoy noted the American position was based on a draft that the Chinese delegation had circulated a few days before the talks closed for recess in early August. 'The fourth draft does not discuss a light water reactor, so I spent a considerable amount of time explaining to the DPRK delegation that the U.S., nor any other participant in the six party process, is prepared to fund a light water reactor.'

Hill reiterated the proposals in the Chinese document: a conventional energy proposal, security guarantees, economic assistance, and recognition ideas for the establishment of relations. The envoy said he tried to make clear to his North Korean interlocutors 'this is a pretty comprehensive approach...I think it would be in the DPRK`s interest to study (the draft) hard and get a yes on it.'

'I have made it very clear, and I think the other delegates made it clear, that nobody is prepared to fund a light water reactor and they should rather focus on the elements that are on the table and understand that those elements would be very beneficial,' Hill said.

The six party talks are a diplomatic initiative sponsored and hosted by China involving the U.S., the two Koreas, Japan and Russia. Negotiations began in August 2003 with the aim of diffusing tensions arising out of North Korea`s development of nuclear weapon programs. Four previous rounds of discussions have failed to come up with a joint statement of principles on how to denuclearize the Korean peninsula.

:(

Don't be sad! Next week could easily bring a rise to the 20's. Small volume too.