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

Excellent news !!!!!!!!!!!

Good to see rapid progress on the East African front.

It should be a very busy month for newsflow as the North Korean talks are scheduled to begin next week.

Mono

Bugz are you in yet?
I am glad I got in on late Friady, It looks like its on its way up again. I hope you are in.

I had a re-read of the interims as it was on the doormat yesterday and the one line I really like is "A number of other opportunities are currently under review and some are at an advanced stage of negotiation". One was obviously yesterday's announcement - what else is brewing?

Good call Kaysmart!

Nope-I'm out in the cold and its FREEZING!!!! Lol

Gonna bide my time-gonna watch the RNS like a hawk and if anything big pops up one morning at 7ish I'll be buying in at 8!!!

Problem now though for people who havent bought is deciding when to jump!!

Place your bets before the 9th November !!


BEIJING (AFX) - China has proposed restarting the six-party talks on North Korea's nuclear programme on Nov 9, a Western diplomat in Beijing said.

'This time period has been floated, we are discussing this date in internal consultations,' the diplomat said on condition of anonymity.

China early today said it has proposed a date to the two Koreas, the US, Japan and Russia for the next round of talks and is awaiting confirmation from all sides.

Foreign ministry spokesman Kong Quan refused to give the proposed date.

The last round of talks ended in September with a statement of principles under which North Korea would give up its nuclear weapons program in return for energy and security guarantees.

But Pyongyang later warned it would not dismantle its nuclear arsenal before the US supplies it with a light-water atomic reactor to generate electricity.

The US says North Korea must first disarm.

Japan's Kyodo News agency, quoting diplomatic sources in Beijing, also said the talks are likely to resume on Nov 9.

K******

Kaysmart - what price did you manage to average at?

Hi Bugz,
My first lot was 2 lots of 100k @ 9p than I bought some @12.05 and another lot @ 15.25 finally sold some at 18p at the last rise which I very much regretted. Have managed to buy back 100k I paid more than I had anticipated 21.70P. & 22P. I need to buy some more so watching L2 like a Hawk.
I hope you get back in before the talks start on 9th November. I expect SP to start the next move up. AND yes even if it went up to 50p I am not selling. I have learnt my lesson. This one has to be a long-term investment. Good Luck.

More progress on the Korean reunification front as they combine their teams for the Olympics:

http://news.bbc.co.uk/1/hi/world/asia-pacific/4396170.stm

It all helps in creating a nice atmosphere for the resumption of talks next week.

Mono

2 November 2005

AMINEX PLC

Exploration Licence award in Egypt


Aminex PLC ("Aminex" or the "Company") today announces that Red Sea Petroleum
Ltd. ("Red Sea"), in which it has a 51% shareholding, has been awarded an
onshore exploration licence close to Egypt's Red Sea coast, pursuant to the
Egyptian government's 2005 First International Bidding Round.

The licence area is known as West Esh El Mellaha ("WEEM") and covers 1,328
square kilometres. It is close to significant existing oil production and has
been awarded in a competitive bidding situation. The licence will be held under
a Production Sharing Contract ("PSC") which will call for exploration drilling
during the first three year period of the contract.

Other shareholders in Red Sea are: Petrosino Ltd., First Energy Pty. Ltd. and FS
International Corp. Financing arrangements for the work programme are subject to
negotiation between Red Sea's shareholders following formal execution of the PSC
and will be disclosed when finalised.

Commenting, Aminex Chief Executive Brian Hall said: "We are very pleased to have
been awarded acreage in this very promising area following the creation of Red
Sea in 2004. The WEEM permit is a valuable addition to Aminex's African
exploration portfolio."


For further information:

Brian Hall Aminex PLC 020 7240 1600 (UK)

Archie Berens ICIS 07802 442486 (UK)




This information is provided by RNS
The company news service from the London Stock Exchange

Bollocks!!!! Well Kaysmart, this is one I have really f*cked up!!!!

(Sigh) What a GREAT share to hold at the moment people.

Still not too late - I think there is more upside

Bugz (and other potential investors),
It's always difficult to buy a share when you know that you could, and should, have got it a day or two earlier at a reasonably lower price (happens to me at least once a week !!).
In my experience it really does not matter that you may have missed out on the first 2 or 3 pence rise this week.
If the story is a good one (and with Aminex it is currently one positive announcement after another) then you have to look at where the SP is going and not where it has come from.
IMO I think we are heading towards 30p pretty sharpish and certainly 50p would appear to be a perfectly reasonable target on a 3 or 4 month view. Even at that price the Company would 'only' be valued at around 80 million which is a snip for all the potential that it is showing.
So you have to decide whether buying at 24 or 25p today is a good deal with the potential outlined above.
It was a no brainer for me and I topped up this morning.

K******

Considering adding a third tranche - my only reservation is the Aminex % weighting in my portfolio!

Greyhound: You shouldn't have too great a chunk of your wealth at risk from the whims of the NK government. I think this is a great share, but I have take healthy profits in my dealing account the past couple of weeks, and put it into CSB which has more or less kept pace with AEX. I still have a big holding in my ISA - I can't find much else on the main list with such potential - and wouldn't want to out of AEX altogether in coming weeks and months.

Squidd, my thoughts entirely. Do you mean CSB?

Hi all,
After taking some profit last week, by the way which was a mistake, I have been buying nearly everyday. It's a shame I could not buy a big chunk last week or even yesterday, but this was to do with availability of funds. Just topped up again. I am sure AEX will be recommended by tipsters and there is bound to be some comments on the weekend newspapers.

Let's hope you're right kaysmart, particularly with NK talks resuming on the 9th.

GH: Yes, Crosby Capital; look at the chart on the thread, newly updated by Goldfinger.

Despite the potential risk here, decided earlier to take a third tranche. Anyone get the feeling there's something brewing this afternoon?

No idea mate-Just wish I had the guts to jump aboard following the recent rise-but I dont!