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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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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indirect shareholdings.

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Indeed. All good news.

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A reminder for people :

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


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Good bit of consolidation today at a new "recent high" level.

Time there was an update from Tanzania....

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