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

Aminex PLC
28 September 2005


Interim Results for the six months ended 30 June 2005

Aminex, the oil and gas company listed on the London and Irish Stock Exchanges,
today announces its interim results for the half year ended 30 June 2005


Highlights

Production Sharing Agreement signed with North Korea

Placing and Open Offer of new shares raises net US$8 million

Satisfactory settlement reached with Petrom SA over Nyuni cost dispute

Farm-out agreement over part of Nyuni acreage signed with East Coast
Energy Ltd

Net loss for period of US$1.9 million (2004: loss US$1.15 million)


OVERVIEW

During the period under review Aminex negotiated and finalised a form of model
Production Sharing Agreement ('PSA') with the authorities in North Korea as part
of its work obligation under the 2004 Petroleum Agreement with the government of
that country and applied for formal exploration licences using the model PSA
negotiated. In Tanzania geological and geophysical work continued on the Nyuni
licence in preparation for exploration activity due to be carried out during the
three year second period of the Nyuni-East Songo-Songo PSA which commenced in
November 2004. A satisfactory conclusion was negotiated with Petrom SA over a
long-running farm-out dispute in connection with the Nyuni-1 well. Also in the
period Aminex drilled the first of four development wells on the South Weslaco
Field and worked over the Sunny Ernst-1 well on the Alta Loma property, both in
Texas.

Since the end of the period a placing and open offer to shareholders was
successfully completed and the proceeds are being used to progress work on the
Group's existing projects as well as to advance other opportunities. In August
the Group achieved the unusual step of signing a PSA with the North Korean
authorities covering virtually the entire country and its offshore waters, east
and west. Aminex took the view from the outset that the country's geological
potential outweighed the risk that the nuclear dispute would escalate out of
control. The recent news from Beijing of the preliminary success of the long
running and controversial six-party negotiations appears to vindicate this
position. Earlier this month, the Group also announced that it had concluded a
farm-out agreement for part of the Nyuni East Songo-Songo PSA in Tanzania with
East Coast Energy of Canada ('East Coast'). A seismic survey is due to commence
over Nyuni in October as part of this farm-out agreement and Aminex will take
advantage of the seismic vessel's presence in the area to shoot new seismic over
the part of Nyuni which has not been farmed out to East Coast. This will
include the prospect which was drilled in 2003-4 as the Nyuni-1 well and which
found evidence of Jurassically sourced crude oil in East Africa for the first
time.

A number of other opportunities are currently under review and some are at an
advanced stage of negotiation.


FINANCIAL REVIEW

The results for the six-month period ended 30 June 2005 have been prepared in
accordance with International Financial Reporting Standards ('IFRS'). The
results and cash flow statements for the six-month period ended 30 June 2004 and
the twelve-month period ended 31 December 2004 as well as the balance sheets at
1 January 2004, 30 June 2004 and 31 December 2004 have been restated from the
originally adopted Irish GAAP to conform with IFRS. Detailed movements between
the original Irish GAAP figures and the IFRS figures are set out in the
accompanying notes to the financial statements.

Gross profit amounted to $0.4 million for the first six months of 2005 ($0.98
million for the first six months of 2004). The 2004 figure included the
operating profit of the Vinton Dome property which was sold in December 2004 and
which accounted for 70% of the Group's oil production in the period. Following a
successful recompletion, the Alta Loma gas well was brought back on production
towards the end of June 2005 having been out of commission since September 2004.
As a consequence, gas production in the USA during the period has been
significantly reduced. The Group benefited from higher oil and gas prices
during the current period achieving $46.03 per barrel of oil, an increase of
$10.85 over the comparative period, and $7.03 per mcf of gas, an increase of
$0.59 per mcf over the comparative period. After charging administrative
expenses of $2.23 million (2004: $2.13 million net of an offsetting profit of
$143,000 on the sale of a Corsair drilling rig) and financing costs of $87,000
(2004: $Nil), the net loss for the period amounted to $1.92 million (2004: loss
$1.15 million).

Exploration and evaluation expenditures of $0.12 million during the current
period related to the Group's assets in North Korea and Tanzania. A provision of
$2.3 million relating to the Group's future decommissioning liability in the USA
has been set up at the beginning of the period with the associated cost included
in additions to property, plant and equipment. The high level of current trade
and other receivables at the period end includes the proceeds receivable from
the Placing and Open Offer made to shareholders during June 2005 and which was
paid in early July.


TANZANIA

The second period of the Nyuni East Songo-Songo permit commenced in November
2004 and involves a two well drilling commitment. This PSA was the first in
Tanzania ever to have been extended into a second period. The Nyuni prospect
itself, drilled in 2003/4, fully justifies further work and there are at least
four other untested prospects over which seismic will be shot in the fourth
quarter of this year. Approximately 25% of the PSA has been farmed out to East
Coast which is the operator of the neighbouring Songo-Songo producing gas field
and the farm-out area adjoins the Songo-Songo field. Songo-Songo has now been
on successful commercial production for over a year and it is an opportune time
to appraise the possibility of its extension into Aminex's acreage. A new
commercial gas well drilled under the farm-out agreement could be rapidly hooked
up to Songo-Songo's existing production facilities and would fulfil one well out
of the two well PSA obligation. Nyuni-1, a completely separate structure, was
spudded before Songo-Songo came on stream. The East Coast farm-out remains
subject to formal Tanzanian government approval.

Elsewhere in Tanzania, Aminex is now close, it believes, to finalising a PSA for
the southern 12,000 square kilometre Ruvuma area currently held under a
technical evaluation agreement.

Tanzania and the East African margin generally are attracting increasing
industry interest. Since our last report to shareholders Mozambique has
launched a licensing round, Exxon-Mobil has farmed into large tracts offshore
Madagascar, while Tanzania itself has an ongoing deep water licensing round.
Aminex believes the timing of its entry into Tanzania was good and looks forward
to making further progress on its large acreage portfolio.


NORTH KOREA

Since signing a Petroleum Agreement last year Aminex moved quickly to establish
a model PSA, applied for acreage and has now signed a comprehensive PSA. During
this time an extensive data evaluation exercise has taken place including
numerous visits by Aminex specialists to Pyongyang where good working relations
have been established with Korean specialists. On 4 August Aminex and its
wholly-owned subsidiary Korex Ltd. entered into a PSA with the North Korean
authorities covering all the prospective basins in the West Sea, onshore North
Korea and in the East Sea. This represents major progress since the original
Petroleum Agreement was signed in 2004. The PSA is for a nine year period
divided into three sub-periods, in the first of which Aminex will acquire new
seismic and either drill a new well or re-enter an existing West Sea discovery
well.


USA

Following an extended recompletion, the Alta Loma Sunny Ernst #1 well resumed
production during June having been shut in since the previous September. The
first of a four well development programme at South Weslaco was drilled during
the period and is currently being tied-in for production. The second well was
spudded on 19 September and is drilling ahead at the date of this report. Two
further wells are planned during the remainder of 2005. The advantage of high
prices has been offset to some extent by the difficulty in sourcing drilling
rigs during a period of excessive demand as a result of which the South Weslaco
project has not progressed as quickly as planned and no production from new
drilling is included in the current financial results. During the period, a
decision was made to plug and abandon the Sabine Lake well which ceased
production at the beginning of this year. Oil production at the Somerset field
has been maintained and a start made on a programme for plugging and abandoning
redundant wells and facilities. As a consequence of the sale of the Vinton
properties at the end of 2004 and also the delayed commencement of gas from the
Alta Loma well, production in the USA declined below that of the prior period.
Major efforts are under way to restore the production levels


MOCOH JOINT VENTURE

Aminex has been co-operating for some time with Mocoh SA, a petroleum trading
company with existing operations in a number of African countries, to pool
resources in the search for new upstream opportunities where a combination of
Mocoh's established presence and Aminex's technical capabilities can be brought
to bear for mutual advantage. This co-operation has now been formalised to
cover three countries; Sudan, Madagascar and Congo-Brazzaville. Any licence
award will be shared on a 50-50- basis by Mocoh and Aminex, each party paying
for its own share of licence expenditures. A joint company known as Amicoh has
now been formed and co-operation may be extended to include other countries in
the region.


LIQUEFIED NATURAL GAS

Aminex continues to work with Liquefied Natural Gas Ltd. of Australia ('LNGL')
to identify suitable opportunities for co-operation in the development of
stranded gas fields suitable for small scale LNG operations.


EGYPT

As previously announced to shareholders, Aminex participates in the share
capital of Red Sea Petroleum Ltd which made an unsuccessful application for new
acreage in 2004 in very competitive circumstances. Red Sea is currently actively
pursuing other opportunities in Egypt and has recently applied for further
acreage.


PROSPECTS

The Aminex Group has now established a strong exploration portfolio at a time of
high oil and gas prices and unprecedented international exploration activity by
large and small oil companies alike. The company is working hard to build on
this position.


28 September 2005

Clip from oilbarrel.com


Aminex, Dana And Premier Oil Post First-Half Results And Africa Is The Common Theme
After something of a hiatus in the wake of the disappointing Nyuni-1 wildcat of 2003/4, Aminex plc is again making progress with its exploration project in Tanzania. The company, which last week announced a first half turnover of US$1.2 million and net losses of US$1.92 million, has farmed down part of its PSA there to East Coast Energy of Canada, which operates the neighbouring Songo Songo producing gas field.

The farm-out covers the acreage that abuts Songo Songo and will allow the partners to explore for an extension of the gas deposit: a successful well here could be quickly hooked up to the existing Songo Songo facilities.

The farm-out will also enable Aminex to revive exploration activity on the rest of the licence, piggy-backing on East Coasts hire of a seismic boat to take another look at the Nyuni prospect plus four other untested prospects on the property. This seismic work is due to get underway later this month.

The past year has also seen progress on Aminexs pioneering investments in North Korea, where it has signed up to explore large tracts of frontier territory, both on and offshore. The company is keen to add to its exploration portfolio and has formed a 50/50 joint venture exploration company with petroleum trading firm Mocoh SA. The two companies are scanning opportunities in Sudan, Madagascar and Congo-Brazzaville.

paul . our do you see this going.in the short term. thanks.

Tanker Hi,

It's going to creep up slowly :)

Cheers,
PM

[Vladivostok, KOTRA]

The ITAR-TASS news agency of Russia recently reported that the British oil refinery enterprise Aminex Oil Company has acquired a business license from the North Korean Government for the British companys probing and production of hydrocarbon within North Korea. The British oil company became the first foreign investor in North Koreas crude oil and gas industry, according to ITAR-TASS.

Citing a report from the Sunday Telegraph, a United Kingdoms newspaper, the ITAR-TASS revealed that Aminex Oil Company secretly concluded an exclusive agreement which will last for over the next 20 years with the communist country for its probing and production of hydrocarbon in the North Korea.

To gain the above-mentioned agreement, the UK company has been proceeding in their negotiations with the NK government since 2001. Aminex Oil Company positively reputed the fact that North Korean has steadily improved its relationship with South Korea despite the fact that they are virtually isolated from the rest of the world. It is highly probable that the NKs development within the energy industry will play a role in becoming a bridge that helps connect North Korea to the rest of the world community, according to the company.

At the moment, Aminex Oil Company has already dispatched an engineer to the NK for technological support and the collection of necessary information. Afterwards, the UK enterprise is expected to send more of its engineers and equipment there, according to ITAR-TASS.

(Sept. 21, 2004 KOTRA-North Korea Team, Koo Kyung-hee, Tel: 82-2-3460-7423)

Dear Leader to decree that a son will rise in his place

If this happens, AEX will fly......................

imo

Released today:

MADAGASCAR LICENCE AWARD


Aminex PLC (Aminex), the oil and gas company listed in London and Dublin announces the award of onshore exploration acreage in Madagascar.

Aminex, with partner Mocoh Resources Ltd.(Mocoh), has been awarded the rights to Block 3108, known as Manja, onshore the west coast of Madagascar and covering an area of 10,725 square kilometres, (approximately 2.6 million acres). The rights to this block are held through a Production Sharing Agreement (PSA) between OMNIS, the Madagascar state oil and mining organisation and Amicoh Resources Limited (Amicoh), a newly formed company, in which Aminex and Mocoh each holds an equal number of shares and through which the shareholders will fund exploration activity in equal proportions. Mocoh is an active downstream African petroleum group with existing assets and distribution operations in a number of countries including Madagascar.

Several wells have been drilled in the past on Manja, some of which found significant shows of oil and gas without benefit of modern seismic and other exploration tools available today. The geology is analogous to the East Coast of Tanzania where Aminex is already a well-established explorer. A number of international oil and gas companies have become active in Madagascar recently, including Exxon-Mobil, Norsk-Hydro, Vanco, Sterling Energy, Vuna Resources and Sun-Pec.

The Manja PSA calls for seismic in an initial two-year period followed by exploration drilling in subsequent periods. The effective date of the PSA will commence upon signing of a Presidential decree, estimated to take place in 30 to 45 days time.

Commenting on the award, Aminex Chief Executive Brian Hall said: We are very pleased to have secured the exploration rights to this interesting block and to be participating in Madagascars fast growing exploration effort. This is our first joint project with Mocoh since a recent agreement for co-operation in African exploration ventures.

It's faultered on good news, next stop 14p i'm hoping to pick up some more

Most are - maybe a market correction across the sector, and I agree if it goes to 14p.

Yeah I'm out at the mo too-sold at 18p.

If we hit 14p I'm def back in. Think it will drift if nothing changes-well I kinda hope so coz the whole NK prospect seems VERY exciting in my mind for 2-3 years time.

Not sure I agree robstuff. anyone trying to see this presentation on aminex website this morning - as I can't see it there - should be able to view at 9am!

can't find it

Just spoken to Aminex, will be there shortly. Pointed out they are obliged to let all investors know at the same time. No real new news I understand.

well are we going to see big jump yes.

The presentation is on the website now, but damned if I can open it!! The presentation is also updated on North Korea and Tanzania.

Presentation is here, click on the circle to the left of the page to open it.

Presentation

Thanks, can see most of it now - problem saying file is damaged. What I can see looks positive.

Some of the maps and diagrams don't appear to be loading for me, unless they are very slow to load. Will give it a more detailed look later, but from a quick glance it looks good to me.

Got into the North Korea stuff this time before crashing - very promising.

This 10% rise cant be just due to the unveiling of this presentation, or a bounce from yesterday-can it?!