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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Well worth a read :

http://www.aminex-plc.com/files/110609_AGM_Presentation_0.pdf

Spudding soon to test a very large potential gas deposit and then the big oil well in Sept/Oct time.

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Things will change once spud is announced, I think its literally any day now.

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And so some excitement begins :

http://www.investegate.co.uk/Article.aspx?id=201106170700116276I

Aminex PLC
New Well Starts Drilling in Tanzania
RNS Number : 6276I
17 June 2011

NEW WELL STARTS DRILLING IN TANZANIA


Aminex PLC ('Aminex' or the 'Company') announces the spudding of the Nyuni-2 well, offshore Tanzania. The well spudded shortly after 00:00 hours this morning, local time, Friday 17th June.

Nyuni-2 is being drilled from a surface location on the small Nyuni Island, approximately 30 kilometres off the mainland of Tanzania, to the south of the Rufiji River delta, using the Caroil-6 land rig. The well will target the same Neocomian sandstones which form the reservoirs in the nearby Songo-Songo gas field and in the Company's own Kiliwani North gas field reservoir. An additional target is an Aptian/Albian sandstone reservoir which was logged as gas-bearing in the Nyuni-1 well, which was drilled but not tested in 2004.

Nyuni-2 will be deviated to the south-east at an angle of 29 degrees from vertical to target a bottom-hole location approximately 1.200 metres away from the island. Total measured depth is likely to be 3,325 metres and total vertical depth 2,964 metres subsea. It is estimated that drilling to target depth will take 9-10 weeks.

Nyuni-2 will be the fourth exploration well drilled in the Nyuni area by Aminex as operator, and two of the previous wells discovered gas in commercial quantities.

Significant drilling events at Nyuni-2 will be reported to shareholders when appropriate.


Partners in the well are:

Ndovu Resources (Aminex) 65% (operator)

RAK Gas 25%

Bounty Oil 5%

Key Petroleum 5%

Directors buying is always a good sign of potential for significant rises soon. And in the case of AEX its the ongoing gas drill and then the Ruvuma oil drill.


Aminex director snaps up shares

9:44 am by Kam Patel
http://bit.ly/l6nef0

Aminex (LON:AEX), the oil and gas group, announced that Brian Hall, executive chairman, has bought 325,705 shares in the company at 6.9p.

The transaction was carried out yesterday and takes Halls total holding to 5,000,000 shares or 0.64%.

Halls purchase follows buying by Keith Phair, a non-executive director. On 27 June the company announced Phair had bought a total of 400,000 shares in three tranches with the price ranging 6.35p to 6.6p. The purchases were carried out on 24 and 27 June.

Phair now holds 2,062,422 shares in the company, giving a stake of 0.26%... See Link for full article.

Yet another director purchase of shares :

http://www.investegate.co.uk/Article.aspx?id=201107010700105384J

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Comment on another site recently :

..........Completing the picture with a selection of shares that have good upside potential from exploration programs, but in the event of failure are otherwise well supported by the value of existing assets, Goldman Sachs picks out Rockhopper (RKH), Bowleven (BLVN) and Aminex (AEX). Overall Goldman is bullish on the sector and its research shows that there are many ways to play the worlds persistent thirst for energy.................

Post from Zengas over at ADFN :

ZENGAS - 27 Jul'11 - 19:00 - 11010 of 11017

Re Nyuni-2 currently drilling - this really could be a potential company maker imo and its true potential is being over looked by many.

There are two targets in the well so we are potentially drilling for 1 - 2 TCF of gas from the Albian/Aptian and Neocomian combined.

Spudded 17th June and will be drilling 6 weeks this friday 29th July.
Estimated drilling to target depth is expected to take 9-10 weeks.

http://www.aminex-plc.com/files/110609_AGM_Presentation_0.pdf

On page 8 and the schematic.

This current Nyuni 2 well is being drilled south-east of the Nyuni-1 well.

The target is the Neocomian sandstones which form the reservoirs in the nearby Songo Songo gas field.

The additional target is the Aptian/Albian sanstone reservoir which was logged as gas bearing in Nyuni-1.

The Albian/Aptian target alone is 233 bcf mean - 418 bcf upside.

The Neocomian target size isn't stated but if you look at ther above schematic link and see where Nyuni is, the presentation gives Nyuni prospect east and west as 1.3 tcf - 2.5 tcf in the Neocomian. The two target zones therefore offer a combined 1.5 tcf - 2.9 tcf range in this Nyuni 2 well.

In the Nyuni-1 well (and this is still available as a possible re-entry) -

'Logged' but untested gas encountered in the Aptian/Albian = 233 - 418 bcf.

1100 mts Neocomian sandstone section was identified.

And also - 'Gas bearing porous sands have been logged in the Neocomian'.

Another 480 mts section was unlogged at the time.
Nyuni 2 currently 6 weeks drilling could be a company maker well.

In addition to that - there is
Fanjove North 300 - 560 bcf range.
Fanjove South 83 - 158 bcf range.
Okuza 870 - 1700 bcf range.
Further un-named prospects.
That's only Nyuni.

There's still the other Songo-Songo area potential.
Miza, Chocha, Afisi and Afisi south prospects.

There's the Kiliwani discovery nearing commercialisation and revenue soon.

There's the upcoming drilling with Tullow of the Ntorya prospect updip of the Likonde well that had oil and gas shows throughout the well.
There's also the Sudi and WR prospects that make up only part of that huge block potential.

There's the US oil and gas production which was over 500 boepd on last reports and at least 2 further wells to come this year.

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mnamreh, yes they have but there are 2 company making drills up now, the first is ongoing at Nyuni and then followed by Likonde.

For all its underperformance it could over perform if things go well.

I am holding again.

Bounty quarterly report out (to 30th June 2011).

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=BUY

June 17 spud.

June 30 is end of quarter, and they were at 1144M where TD is 3325M.

So 13 days for 1144M or averaging 88M per day.

Now, we are 30th July, or 30 days past the end of the quarter (1st April to 30th June)


Given the excellent progress between 17th June and 30th June as reported by Bounty that would mean its looking good for news mid August IMO.

Glad I got some more AEX this morning at just over 5.3p levels.

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Its a much better price than my average, which is a little higher.

All it needs now is good news from the gas well at Nyuni.

If 40BCF is worth 1p a share and this well is targeting 800BCF then it goes to suggest a gas find will have a very big impact on the valuation of Aminex.

Will start a new AEX thread so I can keep the header up to date.

LoL - You mean you've lost your PapalPower password or an excuse to start another ramp?

What's the point of starting another thread......ridiculous ?....this is a good'un but this looks like blatant ramping to me and I hate that....