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

Russia Backs Chinese Stance at North Korea Nuclear Talks

Created: 01.08.2005 15:08 MSK (GMT +3), Updated: 15:22 MSK, 5 hours 47 minutes ago

The Russian delegation to the six-nation talks on the North Korean nuclear problem agrees in principle with the China-proposed draft final statement to crown the fourth round, a Russian diplomatic source close to the talks told Interfax news agency.

The draft reflects Russias position on ways to settle the problem of the Korean Peninsula and indicates similarity in Russia and Chinas positions on the issue. We support the draft and are prepared to sign it, the source said.

The new draft, submitted late Sunday, reflected all sides modifications to the first Chinese-written draft, the U.S. Assistant Secretary of State Christopher Hill told Associated Press. He did not, however gave further details. A Japanese news report said the draft calls on North Korea to abandon its nuclear weapons programs and other programs that could potentially produce such arms.

It also reportedly addresses normalization of U.S. and Japanese relations with the North, Kyodo News agency reported, citing an anonymous source at the talks.

http://mosnews.com/news/2005/08/01/northkorea.shtml

Political risk [progress] is one problem in N / KOREA,but trading volume today is only 200 shares traded forAEX,how can we buy shares and take a gamble.

I bought into these at 10p thinking they had reached the bottom,how wrong i was these are going nowhere fast.
Maybe next year you might see a recovery untill then don`t hold your breath.
DB66

MB/DB Hi,

It's a monday, not much happens to a lot of stocks on a monday, or a tuesday for that matter.

I don't expect a big rise for at least a couple of weeks, surely as the broker note states, the price is now supported by the NAV of the hydrocarbons produced in Texas, BUT those hydrocarbons are being increased, back to the level when Aminex was producing from Vinton Dome, this new level of production will be at a LOWER cost than Vinton Dome, thus the S.P should rise on that alone.

Another well is planned for Alta Loma, where Aminex have a 37.5% working interest.

Also Egypt applications could be announced any day, as could DPRK applications for West Sea Bay Basin and Anju Basin as a minimum.

Then we are back to waiting for announcements on the plans for Tanzania and DPRK, there should be announcements within a month or two IMHO, stating the plans to do Seismic in West Sea Bay Basin, and Anju Basin, and in Tanzania at the Ruvuma Basin which is also very prospective, and Nyuni where we have already proven that oil exists.

Write them off if you like, but I prefer to look longer term, as those events above will each push the S.P higher, and by the time drilling starts in Tanzania and DPRK Aminex will already be a long way past 20p

Cheers,
PM

Remember this ????

01 June 2005

Aminex PLC

Texas Gas Discovery


'This successful well is the first in a series of gas development wells planned
on our US properties for 2005 aimed at boosting production and accelerating
revenues.'

And before that ....

'GU#35 is part of an ongoing programme to build up new gas production by
drilling up proved undeveloped reserves in Texas to replace the production from
the ageing Vinton Field in Louisiana which was sold in late 2004. The result of
the well should be known within one month'.

Cheers,
PM

Bounty Oil And Gas are partners in the Nyuni project offshore Tanzania, and sometimes it's beneficial to read the partners reports, and statements, as you will see below, taken from Bounty's "Fourth Quarter Activities & Cashflow Report" issued 29 July 2005 .... http://www.gtp.com.au/gtp/bountyoil/homepage.jsp


Offshore Tanzania Nyuni Block The Joint Venture is progressing plans to acquire up to 500 km of new seismic in the block. Acquisition is expected to commence in September, but is subject to vessel availability and timing. Bounty has the option to pay its way through the work program and the drilling of the next well, and retain its post-Nyuni-1 interest (Bounty originally had a 10% interest in the permit, but we have partially diluted it as a result of the cost overruns at Nyuni final numbers are being calculated), or to dilute to 5% and be free carried for the drilling of the next well. Although we are encouraged by the oil shows in Nyuni-1/1A we will likely dilute our interest and reduce our cost and risk through the next well. Partners in the Nyuni Block are Bounty Oil & Gas NL and Ndovu Resources (a subsidiary of Aminex plc; operator).


I have also e-mailed Aminex, to ask if an update on operations is planned to be released soon.

Cheers,
PM

Hi All,

A few buys today and one sell, one buy of 200,000 looks like a good investment to me, especially at this price.

Other trades added up to 94k bought and 22k sold

Buys went through at 7.83p, sells at 7.75p ( I tried online dummy buys and sells to check, at the time of the trades today)

Maybe someone somewhere is noticing 'lil old Aminex :)

Cheers,
PM

Latest N.Korea updates ....

http://www.channelnewsasia.com/stories/afp_asiapacific/view/161412/1/.html

BEIJING : Delegates discussing ways to scrap North Korea's nuclear weapons programme returned to the main talks venue, fuelling speculation they would meet overnight to try to agree on basic principles for ending the three-year standoff.

China Central Television said members of the North Korean delegation returned to the Diaoyutai State Guesthouse around 5 pm, followed by the Russian, US, and South Korean teams.

Japanese negotiators were also seen heading for the venue.

"According to predictions, ... the possibility of an overnight delegation chiefs' negotiation is increasing," the television said.

A US embassy spokeswoman confirmed that a delegation led by deputy chief US envoy Joseph DeTrani had returned to the guesthouse although she declined to confirm whether US chief envoy Christopher Hill was also going there.

"The North Koreans are in Diaoyutai. I've got to see the Chinese," Hill told journalists as he left his hotel Wednesday evening.

Top envoys to the six-party talks which include host China had been due Wednesday afternoon to deliver final comments on a fourth Chinese draft of a joint statement on how North Korea might abandon its atomic arsenal.

But the North failed to show up for that meeting.

Diplomats insisted the talks had not broken down and Chinese officials said negotiations would continue on Thursday.

Hill told reporters the United States, South Korea, Japan and Russia had made minor comments on the draft but were still waiting for North Korea's response

More at the link above ....

Cheers,

PM

US urges Pyongyang to seize opportunity for nuclear settlement


BEIJING : North Korea is at the crossroads of a brighter future if it chooses to abandon nuclear weapons, US envoy Christopher Hill said Wednesday as talks on Pyongyang's nuclear drive moved into a ninth day with an end in sight.

Hill admitted differences remained but urged North Korea to seize the opportunity for a settlement of the nuclear issue.

Six nations in the disarmament talks were due to meet again on Wednesday to fine tune a statement on keeping the Korean peninsula nuclear free, with the onus falling on North Korea to commit to dismantling its nuclear programme.

"I think it is a very important text. It is a text that is really designed to narrow the differences, maybe even get to the point where we can really agree on something," Hill said as he left his hotel for the talks.

"We'll see, it's a pretty important day."

China has drawn up a fourth draft of the document which was sent overnight to the governments of the other participants in the talks, the United States, the two Koreas, Japan and Russia.

"I think we were all struck by the importance of this, the importance to all of us of getting this done...," he said.

"Because, in a very real sense, the DPRK does indeed stand on a crossroads and they can look forward to a brighter future, a more secure future, a more prosperous future but they cannot do it with nuclear weapons," he said, using North Korea's official name, the Democratic Peoples' Republic of Korea.


More on this story here ....

http://www.channelnewsasia.com/stories/afp_asiapacific/view/161282/1/.html

Yesterday 200,000 buy, today 100,000 buy, I will keep monitoring trades to see if someone is accumulating stock, whilst it is quiet :)

Cheers,
PM

This information you keep posting Paul is all very political ,i hope Aminex reply to your email and give us a clue to when they are going to divulge some more operational information.
DB66

DB Hi,

Just keeping up with events in DPRK, because once the threat of nuclear stand-off is removed, all the big oil companies will be heading straight there, and they ALL have to deal with Aminex.

Don't forget Iraq, G.W. Bush is connected(shareholder, director, relatives owning, etc) to some of America's biggest OIL companies, and he will be quite happy to see them down in West Sea Bay Basin drilling for oil, just as much as he would be happy to see them drilling for oil in Iraq ....

I bet when DPRK is safe, Aminex S.P. will go up loads.

Cheers,
PM

Hi All,

Well, I told you it was coming, and here it is, a fantastic deal with DPRK, 66,000 Sq Km of exploration agreement, with profit sharing, running for 9 years !!!!

LOL !!!!

Hope you got in early like I advised :)

Aminex PLC
04 August 2005



AMINEX PLC

('the Company')


Signing of Production Sharing Agreement in North Korea


Aminex PLC today announces that The Company and its wholly-owned subsidiary
Korex Ltd. (together 'Aminex') have signed a formal Production Sharing Agreement
('PSA') with the authorities in the Democratic Peoples Republic of Korea ('DPRK
') covering the West Sea offshore basin, a part of the East Sea offshore basin,
the onshore Anju basin, the onshore Jaeryong basin and the onshore Pyongyang
basin. The total area of the PSA is approximately 66,000 square kilometres and
includes the greater part of the country's onshore and offshore territory
considered prospective for oil and gas.



The term of the PSA is nine years divided into three periods of three years
each. The structure which has been negotiated is intended to provide a fair
return to both the host government and to the contractor, generally in line with
a well-established international format. The work obligation in the first
period consists of new seismic acquisition and one new exploration well.



Aminex announced an exclusive twenty-year Petroleum Agreement with the DPRK in
September 2004 under which it undertook to carry out certain work and provide
technical assistance aimed at advancing petroleum exploration in the country.
This is now well-advanced and Aminex, together with Korean specialists, has made
rapid progress during 2004/5 in extensively analysing existing technical data.



In exchange for carrying out this work, Aminex received (1) rights to a royalty
on hydrocarbons to be produced from any new drilling in the country by third
parties (2) entitlement to a carried interest in any new wells drilled by other
incoming companies and (3) prior rights to apply for specific licences and
explore in its own name anywhere in the contract area.



By signing the PSA Aminex has now exercised these prior rights over most of the
contract area and will now commence a full exploration programme, including
conducting new seismic surveys and exploration drilling.



The Aminex PSA, which is made under Swiss law, is far more comprehensive than
any other exploration agreement previously signed in DPRK and is an important
step for Aminex and for the exciting oil and gas potential of the country.
Intermittent exploration has taken place over a thirty-year period and oil has
already been discovered in the West Sea but never exploited due to lack of
resources. The West Sea basin is adjacent to and thought to be an analogue of
Bohai Bay, China's largest indigenous source of oil and gas and the scene of
recent major discoveries.



The strategic area covered by the PSA is very large and offers the potential for
high-impact petroleum exploration. With the PSA in place Aminex will commence
new seismic surveys shortly.



Brian Hall, Chief Executive of Aminex, commented



'The agreement is the culmination of our work since we signed a Petroleum
Agreement last year for cooperation with the DPRK. This extensive PSA of 66,000
square kilometres includes several distinct basins and presents a rare
opportunity for an independent company to gain exclusive access to a potentially
important new petroleum province. The proceeds of a recent successful share
placing and open offer to existing shareholders will be partly used in the
initial work envisaged by the PSA'.



4th August 2005

Enquiries:

Aminex plc
Brian Hall 020 7240 1600

College Hill
Jim Joseph/Ben Brewerton 020 7457 2020

Paul

Good work. Well done.

As promised I topped up this morning after managing to offload the BPB yesterday !

Supermono

Have been watching this one for a short while. Nice call Paul, this could be very big indeed! What do you think sp will be end of yr?

SM/Rob Hi,

Thanks, I could see that deal coming a mile away, but to grab the whole lot is a fantastic deal, they have all the most prospective areas, so ANY big oil company will have to partner Aminex, as there is very little else to explore, Aminex have it ALL .... LOL !

I have no idea on the S.P at the end of this year, but 'substantially higher' I would say, as they have yet to announce Seismic for Tanzania, due to start in September as per one of my previous posts, and so that will be going on at the around the same time as DPRK Seismic, I think.

Then there is the possibility of Egypt licences being won by Red Sea Resources.

It all adds up to a massive amount of blue sky, hopefully Aminex will get noticed by a lot more analysts and press.

It's anyones guess how high it could go, but DPRK is estimated to have 10Bn tons of Oil, equal to 77Bn barrels, and Aminex have grabbed all the prospective areas.

I asked Lemming Investor to have a look, when I started posting here last week, Elric (the main man) is after speaking to Aminex about cash and timescales, but a note from them could come out soon, and may shed some light for us too.

As I said before, the thing that will make Aminex fly will be N.Korea signing the latest non-nuclear treaty, then watch as the big oil companies start moving in ....

Cheers,
PM

Thank's Paul, anyway I'm in for the ride, sold half my YOO as i think it's topped out for now. If Shares mag or Red Hot Penny Shares or Moneyweek etc. get hold of this one, the sky's the limit - best to be in before that.

Rob Hi,

Did you get YOO on my tip at 4p ? just wondering :)

I see profit taking on YOO now, but I think 15p+ when they announce they are cash flow positive, fairly soon, probably September.

I might have to send some Aminex info to a few tipsters .... LOL !

:)

Cheers,
PM

bought just 20000 this morning, on further research decided to buy a bigger amount and has placed an oredr for 100000. think has potential to be a big winner.
Good luck everyone.

Paul - No, I beat you to it actually and got in at 3.9p but followed your posts. I think it'll fall back quickly so am concentrating on others such as AEX, CCO, DES, OXB. Have you seen CCO - they have cash worth 2.40 pshare and the price is 75p - as soon as it's confirmed they can utilise the cash the shares will shoot. What price did you pay for AEX?