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

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!

Bugz, know what you mean but there appears to be serious momentum behind this stock now and the press haven't got hold of it yet!

Hi Greyhound,

I had the same feeling thats why I have been buying all this week. Unfortunately I have no funds available to buy more today. I managed to buy some yesterday. I have a feeling we will be crossing the 30p mark soon. It could be that AEX will be recommended by tipsters over the weekend or some very positive RNS coming out soon. Lots of buying. L2 showing all arrows blue currently 4 MMs have buy orders @ 27.5 and 1 MM have sell order @28 one more @ 28.25 and the rest @ 28.50 it has been changing as I am writing. I am now convinced there is something up.

L2 Has changed again its 28.25/29
Bugz I am sorry to see you are still out in the cold. I know it is difficult to time it correctly but with this one I think you need to follow the crowed. I had the same problem after selling last week, did not know what to do but as you remember I got back in quickly and I am so glad I did. Time will tell weather I made the right decision. As it stands now I am making a hefty profit

kaysmart - u dun well me boy - good call

Baza

Just spoken to a couple brokers and they inform me no "known news" but price really getting squeezed, buyers outweighing sellers, 2:1

Party pooper !!!!!

;o)