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

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?

nice buy 1m shares few mins ago - someones got confidence.

bought at 9p

Rob hi,

I have 4.5k of CCO, at 60p, waiting for the Brazillian account signatories to be ammended, then the money really is CCO's, they just need a way to capitalise on it, either by getting it out of Brazil, or by investing it in good projects there. I agree with you on their S.P, they should trade at a max of 20% of the NAV, but 75p against a NAV of 2.40 is mad, and value will, as with AEX and YOO, will show in the S.P soon enough.

AEX, I went in when I started posting here, about a week ago, for 7.875p if I remember correctly.

Cheers,
PM

We seem to have the same portfolio! I have been surprised that cCO has not doubled as I was when YOO was 4p but then I was surprised that YOO did so quickly and now trebled in 2 weeks! CCO is a little complicated and I'm still trying to get my head round it but i think it's been overlooked as AEX was but interest in it should start very soon. Has the potential to treble as I'm sure AEX will - at least!

Rob Hi,

Yeah, bizzarre eh !

Some people are a bit wary of CCO from their chequered history, but I'm not scared !

Also the cash in Brazil brings in 25m a year in interest, that alone is worth an EPS of 16p per share, and so a P/E of 20 would give a much higher share price than 2.40.

Cheers,
PM

Yep, and at that rate, they've earnt the sp in 4 yrs. They seem to make good investments too so not sure why the sp was so bad. Anyway, should leave this thread to AEX, otherwise will confuse readers.
Cheers,
r

You must be my favourite person today Paul as i have made a nice little sum out of Yoomedia and Aminex are on the way up.I made some money out of Aminex earlier in the year when i bought just before the court settlement and sold straight after.I got back in this at 10p just before they went to the city to raise some more money so am down on this but i don`t think i will be for long.
Many Thanks
DB66

In at 9 pence , good call PM.

Happy people .... cool :)

Hopefully press/analysts/tipsters/brokers will all see the value in todays deal, and we will see the benefit over the next week or so, in typical Aminex style, of delayed S.P rise after news.

I really hope DPRK go for the deal, the talks have been extended yet again, and could finish Saturday or Sunday.

Cheers,
PM