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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Volume today near 7m now, and its understandable.

With the Cove/Anadarko news now confirming the Rovuma Basin is hydrocarbon producing, the chances for the Likonde-1 well on shore by AEX/TLW is now greatly improved.

They have another 4 targets defined after Likonde-1 and on the license area there is still lots of it untouched by seismic.

Roll on Likonde-1 results now !

Hope that they are good...I have far too many of these....would affect the sp if I sold...which I'm not going to do....

I would have said "the hope must be that AEX/TLW strike oil with their onshore Rovuma Basin drill".


http://allafrica.com/stories/201002180956.html

18 February 2010

Maputo — The US oil company Anardarko announced on Thursday that its off-shore drilling in the Rovuma Basin, in northern Mozambique, has hit upon hydrocarbon reserves.

The reserves in question are natural gas rather than oil, An Anardarko press release stated that its Windjammer exploratory well, off the coast of Cabo Delgado province, had "encountered more than 480 net feet of natural gas pay in high-quality reservoir sands, with a gross column of more than 1,200 feet".

The windjammer well has so far been drilled to a depth of about 4,270 metres in over 1,400 metres of water. Anardarko plans to drill a further 1.250 metres, gaining additional geological information.

Anardarko's Senior Vice-President for Worldwide Exploration, Bob Daniels, said the discovery of such large amounts of gas was "a strong indication of the potential of this basin". He described the results from the Windjammer well so far as positive for the partnership and for the people of Mozambique."

Anadarko is the operator of the well with a 43 per cent stake. The co-owners in the well are BPRL Ventures Mozambique B.V. (11.75 percent), Cove Energy Mozambique Rovuma Offshore, Ltd. (10 percent), Mitsui E&P Mozambique Area 1, Limited (23.5 percent) and Videocon Mozambique Rovuma 1 Limited (11.75 percent).

London-based Cove Energy was even more upbeat than Anadarko, describing the find as "a substantial hydrocarbon column in excellent quality reservoirs".

"This discovery, the first of its kind offshore east Africa, unlocks the hydrocarbon potential of a new petroleum province in the Rovuma basin", said the Cove CEO John Craven.

The hope must be that, as the drilling goes deeper, oil will be discovered underneath the gas.

On Line Limits getting tighter.



You can now sell 150K @ 14.9p


You can buy MAX only 2.5K at 15p

I'd say that the sp is about to jump higher...

On Line Limits now :

Max Buy = 10K @ 15.49p

Max Sell = 100K @ 15.35p


L2 showing 2 v 2 @ 15.25/15.5

Thar she blows !....

Thing is TLW is moving too......that could confirm there might be a leak about the Likonde-1 well.

If that well is good for Aminex we should see 30p levels........fingers crossed.

Still strong demand there........

On Line Limits

Max Buy = 50K @ 15.99p

Max Sell = 100K @ 15.89p

L2 up last and now 2 v 4 @ 15.75/16

defo good news to come I think. I've managed to get a few more this morning and don't forget their junior partner solo--also shooting up and still available at under 1p!!

I hope so....this is rocketing....rns on monday possibility....news leaking ?....hope it's good !.

And still the buys are coming in....oh boy !....

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http://www.aminex-plc.com/files/100202_Aminex_Omni_Update2_v4.pdf

It is very worthwhile reading the research notes, as all sorts of nonsense is going to be written in the days ahead.

As we stand now, at just over 16p the stock is probably slightly undervalued however that is ignoring what lies ahead in the coming 6 weeks.

Three major and one minor pieces of news are due and those will effect the price of the stock, of course.

Shoats Creek well has spudded, and is due in circa 19 days to be complete. The proving up of further resources in the US can easily add IMO 10p to the NAV and so would move a fair price from 17p to 27p.

Likonde-1 is nearing completion, this is a major well and there are also 4 other prospects on the limited area of the license that has been looked at. The potential here is to add significant upside to the price, and all going well with a major oil find then you can plus 20p or 30p on to the price, ahead of further drilling in the area which if successful would add more and more.

Seismic results around the KN-1 well in the Nyuni area are due, this could for the first time detail the potential size of the gas find around the KN area, and it could mean significant things for Aminex and partners.

And finally the WEEM-2 stimulation and testing results will become due, however, owing to the small stake in this its significance on any price movements is limited.

So four pieces of news before the end of March and a stock thats still a tad too cheap at present but with significant upside pending those news releases makes for a sound investment IMO.

If you open the link below you can see the Astaire update on SOLO of yesterday. SOLO is course the smaller partner to Aminex and Tullow on the Likonde-1 drill.

The news is that TD is expected early next month however its possible an "intermediate update" will come ahead of that.

Interesting, and lets hope its an intermediate update in the same vein as Cove in that they have found something nice and are continuing on with drilling to TD.

http://img213.imageshack.us/img213/9752/solod.jpg

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There could be a staggering upside to the sp....but in the event of failure, Aminex do have have other assets...that's the beauty of this stock....I bought a few SOLO shares yesterday....now that is very risky because that could crash or fly into orbit !.

Oil now over 80$ a barrel.

http://www.oil-price.net/


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they may not be idiots buying at this price, enormous upside potential in sp over next few weeks

It might be gas and not oil....so much in the balance...

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