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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nothing to say :) maybe I'll try to find someone on Facebook or Twitter :):):):)):):)

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Listen to what they say in here about Likonde-1.

All looking fine with the news today, I reckon they are testing and evaluating something, maybe encountered multiple targes.

http://www.thomson-webcast.net/uk/dispatching/?tullowoil100310

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Given AEX is fully listed and can be put into your ISA.

Worth a read :

http://www.fool.co.uk/news/investing/2010/03/12/time-is-running-out-for-isas.aspx

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Still no sign of party poppers, paper hats, bubbly ?......they must know by now whether it's gas, oil, a duster or the need for a second well on potential !....

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I have quite a few of these, so....getting a bit nervous and impatient...and probably will not sell in the event of a duster because Shoats Creek and Nyuni should make the sp bounce back later.

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http://www.investegate.co.uk/Article.aspx?id=201003170700106994I

Aminex PLC
RNS Number : 6994I
Aminex PLC
17 March 2010

DRILLING SUCCESS AT SHOATS CREEK, LOUISIANA

Aminex PLC ("Aminex" or the "Company") announces that the Olympia Minerals-1 well at Shoats Creek, Louisiana (OM-1) has reached total measured depth ("MD") of 9,508 feet MD (2,898 metres MD). Wireline logs have identified several potential oil and gas bearing intervals in Cockfield sands between 8,200 and 9,335 feet. The sands identified closely match the prognosis obtained from interpretation and mapping of new 3D seismic over the property.

OM-1 has now been cased and a testing programme will be initiated in the immediate future, commencing with the perforation of an interval at 9,320 feet MD (2,840.6 metres MD). Following the test results it is anticipated that the well will initially be placed on commercial production from one or more zones.

Aminex USA, Inc., a wholly-owned subsidiary of the Company, holds a 100% working interest in OM-1. Further drilling is planned at Shoats Creek this year with the high possibility of drilling a well to test the deeper Wilcox sands identified by 3D seismic. The Wilcox sand is a prolific oil producer in the Gulf of Mexico region but has never been produced in this field.

Commenting on the well result Aminex chairman Brian Hall said:"OM-1 is the first new well to have been drilled by our US subsidiary as operator for several years, encountering the Cockfield sands exactly as anticipated. Full credit is due to our in-house exploration team which successfully undertook a very complex 3D interpretation and to our operations team which drilled the well on time and under budget. Shoats Creek has been a dormant asset of the Company for many years with only limited production but the new 3D seismic is now allowing us to begin exploiting its full potential which should transform our US producing operation."

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This good news will prevent a sp slump in the event of a Likonde failure....but also should add a few pennies...it could be that they are testing several zones at Likonde ...hence the long delay for the much awaited rns....(just guessing)....

Well done all.

Worth looking over the 2010 plans, lots of things going on and even if Likonde-1 is inconclusive the Ruvuma license is very large with many other leads, five have been identified, a lot of the license is virgin and as yet not looked into, and one of those 5 is now presently being drilled (Likonde-1) after the TLW geologists liked the look of it and fast tracked it. Still, even an inconclusive Likonde-1 will give lots of valuable geologic information to make a better informed decision on a potential Q4 follow up well on the Ruvuma license.

But, we all hope for oil and lots of it at L-1 :



Summary Drilling Programme

Aminex is planning an active drilling programme in 2010 and the following is a
provisional drilling schedule. Precise timing of drilling is always subject to
operational issues and cannot be guaranteed.


Q1 well starts


* Likonde-1, Ruvuma basin, Tanzania (7 January)

* Cockfield well at Shoats Creek, Louisiana (15-31 January)

* Frio well at Shoats Creek, Louisiana (mid-end March)



Q2 well starts


* Sunny Ernst-3, Alta Loma, Texas (mid-June)



Q3 well starts


* Wilcox well at Shoats Creek (subject to farm-out)

* Possible further Cockfield/Frio drilling at Shoats Creek



Q4 well starts


* Provisional follow-up well at Ruvuma

* Nyuni follow-up well (or early 2011)

Oil Barrel - Aminex AEX Article

March 19, 2010

Aminex Prepares To Test Shoats Creek Well As Investors Await News From Likonde-1

Investors in Aminex had reason to cheer this week as the company’s first well on its long-dormant Shoats Creek property in Louisiana came good, finding evidence of the black stuff in the Cockfield sands. Shares in the London-listed company gained 15 per cent to stand at 14.75 pence on the news.
Shoats Creek has been something of the sleeper in the portfolio. Newsflow at Aminex is dominated by its big ticket exploration in East Africa, where even now a potential company-making well, Likonde-1, is drilling ahead in Tanzania, but it is the lower profile US production business that keeps the lights on. In recent years, however, following a couple of successful wells on its Texan properties and a 3D shoot over the Shoats Creek property, there has been growing appreciation of the upside in the US portfolio.

In the case of Shoats Creek, the new seismic data revealed untapped potential in the field’s shallower formations, which have produced very light oil and high quality gas since the 1950s for Aminex’s predecessors, as well as some very material upside in the deep Wilxox formation. The Olympia Minerals-1 well was targeting one of the shallower formations – deep wells require deep pockets and Aminex plans to get someone else to pay for that – and appears to have found several potential oil and gas bearing sands right where the seismic said they would be. The OM-1 well, in which Aminex has a 100 per cent working interest, spudded last month and was drilled, on time and under budget, to a total depth of 9,508 feet to test multiple sands in the Cockfield formation. It will now be tested from an interval at 9,320 feet.

This is good news for the London-listed company, raising the possibility of near-term production from the well (pipelines cross the property). It is also significant because the OM-1 well encountered the Cockfield sands according to the pre-drill prognosis, confirmation that the company’s interpretation of the 3D seismic set is spot on. This augurs well for the company’s plans to drill the deeper Wilcox sands, a prolific oil producing play in this region which has never been produced in the Shoats Creek field and which could prove to be a material addition to the Aminex portfolio. The fact the 3D calibration seems accurate for the shallower formations should help convince potential farm-in partners that the higher risk, higher cost Wilcox formation is worth shooting for at this location.

Aminex’s chairman Brian Hall gave full credit to the inhouse exploration team for their work on the complex 3D interpretation. “Shoats Creek has been a dormant asset of the company for many years with only limited production but the new 3D seismic is now allowing us to begin exploiting its full potential which should transform our US producing operation,” said Hall.

But the big news investors are waiting for is still to come. The Likonde-1 well in the onshore Ruvuma Basin in southern Tanzania is still drilling ahead. The Likonde prospect is described as a “robust faulted rollover structure” with targets in the Tertiary, Cretaceous and Permo-Trias Karoo formations. It has the potential to hold 500 million barrels of oil in place with estimated P10 recoverable reserves of more than 150 million barrels. Aminex gives the drill a one in four chance of success.

The well spudded in January and results are due later this month. Aminex has a meaty 37.5 per cent stake alongside operator Tullow Oil (50 per cent) and AIM company Solo Oil (12.5 per cent). Success here could open up a new play fairway onshore East Africa and could prove transformational, both for Aminex and for Tanzania.

http://www.oilbarrel.com/nc/news/display_news/article/aminex-prepares-to-test-shoats-creek-well-as-investors-await-news-from-likonde-1/860.html

If you take 1.5 to 2 months to drill (1.5 months for trouble free duster and 2 months for the slow down through reservoir rock formations) and throw in 2 weeks to run some test you end up with 10 weeks for a trouble free find of something of interest and logging of it, a bit longer if problems were encountered along the way.

10 weeks will be up on around the 20th of March, so its highly likely we will be in for news next week or the week after, but then, most people expect that every week now as time goes by.

I may well be very rose tinted here (yes I am) but one would imagine the TLW would want to quantify any finds in terms of the relation to the rest of the license area. If they find something good they are going to get bombarded with questions about the implications for the Ruvama license area in Tanzania (as opposed to something not good where its easy to say you are going to rework the data and perhaps drill another well in Q4).

Therefore, for sure, they should want to have full logging results prior to releasing news from this "tight well".

Then again, they may just have had a really bad time drilling it and its a duster, but the timelines now are suggesting there could be "logging" something they have found.

If you take 1.5 to 2 months to drill (1.5 months for trouble free duster and 2 months for the slow down through reservoir rock formations) and throw in 2 weeks to run some test you end up with 10 weeks for a trouble free find of something of interest and logging of it, a bit longer if problems were encountered along the way.

10 weeks will be up on around the 20th of March, so its highly likely we will be in for news next week or the week after, but then, most people expect that every week now as time goes by.

I may well be very rose tinted here (yes I am) but one would imagine the TLW would want to quantify any finds in terms of the relation to the rest of the license area. If they find something good they are going to get bombarded with questions about the implications for the Ruvama license area in Tanzania (as opposed to something not good where its easy to say you are going to rework the data and perhaps drill another well in Q4).

Therefore, for sure, they should want to have full logging results prior to releasing news from this "tight well".

Then again, they may just have had a really bad time drilling it and its a duster, but the timelines now are suggesting there could be "logging" something they have found (for those of with rose tints).

There also appears to be no major sell off - which is another good sign which when taken with no major buying means they have indeed managed to keep this well "tight" - (tight as in there are no news leaks at all, total blackout until they want to update the market, which was the intention of the partners with this well).

Worth a read :

http://boards.fool.co.uk/Message.asp?mid=11871333

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Thanks for this link Proselenes. It was very interesting indeed. And I think everybody would agree that the market still discounting AEX 15-20% maybe more? Lets wait and see, I'll keep bottle of good stuff in case of good news coming :):)

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