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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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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About time...that something fed through about this Likonde thingy...3 months drilling...and still waiting...

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500p would be great.

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I think 35p would be fantastic....I would be over the moon.....but I'm praying that this is not a duster....

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Price going up. Its now 10 days since the Shoats Creek well news, so I expect testing to be complete now.

Perhaps news on testing will be out on Monday morning......if it is, it looks like good news with the price moving up now.

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No...Shoats Creek news I think.

The last update for OM-1 at Shoats Creek was ST:08 (well had been tested and rig moved off site).

From TMF :

ST:08 = Status- WOSP waiting on State Potential

And what does State Potential mean?

It is the next step in the paperwork process. Once a well is drilled and completed, it is tested. The potential of the well will be the completion report with flow rates and pressures. The state cannot issue an "allowable", the amount of oil and or gas the well is allowed by the state to produce, without a State Potential being filed.

Therefore if the State Potential has been filed this week and "stamped" then they will be able to update the market next week with flow rates and pressure and confirmation its a "commercial well".

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Creeping up again.....in up to my neck here.....I have 4 times as much invested than in the Falklands...

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A little bit more....

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Keep going...I'll come back tomorrow and you still won't be near it...