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

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?!

The buying really began shortly after 11am.
I suspect news has leaked that it will be in the IC tomorrow (or something like that !!)

K******

Bugz - I think it is the move resulting from yesterday's presentation. New investors on board....plus the fact we don't know EXACTLY what was said or referred to on top of the slides.

Wanna get back on board, sold previously but missed the boat again at 15.5p.

Annoyed! :-)

Well, might drift later next week if nothing else surfaces I suppose......

.

25p next.

paul where are you i am 5000. up so far not selling.