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

Sorry, I meant to say presentation to oilbarrel.com

News on the way for AEX, enjoy the ride

TheMaster,
Very cryptic !!!!
Care to enlighten us ?

;o)

Also good article on oilbarrel.com today. Worth reading.

Greyhound, would you mind posting either the article or at least a link? Thanks.

Cannot post for copyright reasons - here's the link:-

A lot of investors jumping on board while this is still cheap, not to mention the big boys.


http://www.oilbarrel.com/home.html

Looks interesting, Greyhound, thanks. Actually I would be tempted to dip a toe in with this one, but am currently fully invested - certainly the SP has been roaring away the last few days, so I will be bearing it in mind.

Finally hit 50p today !!!!!!!!!!!!!!!!!!
It's another one where my initial plan to take profits was replaced by topping up this morning.
The Company has now come to the attention of major institutions and, ridiculous as it sounds, the SP still at a very early stage.
There will be some bouts of profit taking, not sure at what levels, but on a 12 month view expect the share price to be well north of 100p.

Ian

Drop back to 40p now...I guess its involvement in North Korea poses a very big risk.

Just profit taking after a fast rise higher. I am not concerned by today's move especially with news flow and oilbarrel conference looming.

It's been very quiet on the Aminex front for the last couple of months.
However the interims are due later this month after which things might liven up again.
The current price of around 26p/26.5p may well prove to be an attractive price for those who missed the boat the first time round.

;o)

It's all done with mirrors for this stock.

North Korea could present a problem for AEX, if they did not have other potentialy good assets.

They do, so it don't!

Having sold up a while ago, I have dipped in today and will this time stay in LTBH.

Apologies I posted an item with a clear copyright.

removed.

Sunday Telegraph
Last Updated: 11:35pm GMT 18/11/2006

The shake-out in the oil and gas exploration sector has started.
For investors, the shake-out is a buying opportunity. Exploration and production is always a risky sector, but there are still some companies that look good value.

One worth looking at is Aminex.

The company, listed on the main market, owns acreage in Tanzania and Madagascar and hopes to sign a production sharing agreement in Kenya in the next few days.

It plans to embark on a major drilling campaign next year which, if successful, should boost the share price.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/11/19/cxequit19.xml

Alternatively, an investment in companies where the underlying resource may not be so popular now is another option. For example, .... Aminex (LSE: AEX) -- an oil exploration company. While attention is on Uranium, companies involved in other commodities may offer better value.

http://www.fool.co.uk/news/investing/investing-strategy/2006/12/18/the-folly-of-backing-yesterdays-winners.aspx

Indeed.

Aminex: No shortage of acreage
By: Edward Roberts

In the past few years majors have been slowly pulling out of the mature North Sea in an effort to seek big oil elsewhere. The reasonably new focus of the majors is offshore Africa in the hunt for elephant-sized oil fields. Its not just the majors that are hunting these elephant fields offshore Africa; they have been joined by some ambitious juniors such as Afren, Global Petroleum and Aminex.

The real focus of the company is onshore and offshore Africa, mainly Tanzania and Egypt. They have a number of interesting concession areas that have a good chance of containing large prospects. So far they have managed to get farm-in partners to carry most of the cost burden of seismic acquisition. Some of these wells will be approaching drill ready status; especially the onshore prospects, which are likely to be first of the exploration targets. Prospects in the range of 100mmbbls of oil are certainly in the company transforming bracket to AEX.

http://www.proactiveinvestors.co.uk/articles/article.asp?AEX

But AEX's chart is looking far from promising

.

The update certainly does not boost confidence in AEX, mentioning about delays and high costs. It is on a steep decline. SELL.