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

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.

Oops...sliding

I've sold all my stock this morning and pleased to say I'm out while I have profits. Hindsight is always 20:20 but I should have sold that day they hit 50p.

This is not over yet.

Keep an eye, something in the wind I think!

Bit of press activity........

NKorea nuclear weapons capability poses 'threat' to Russia - negotiator UPDATE
AFX


(Updates with more info including negotiator saying NKorea may face tough steps)

MOSCOW (AFX) - North Korea's nuclear weapons capability poses a threat to Russian interests, Interfax news service cited Alexander Losyukov, the chief Russian negotiator at international talks with Pyongyang, as saying.

'If the absence of a nuclear weapon on the Korean peninsula is in our interests, and one of the countries located there declares that it has become a nuclear power, it means that our interests are put under threat,' Losyukov was quoted as saying.

He cautioned North Korea against a repeat of last October's atomic bomb test, saying: 'I think a very negative reaction would follow another test and that tougher measures would probably be taken.'

Losyukov, who is due in Beijing for six-nation talks on Feb 8 over North Korea's nuclear programme -- involving China, Japan, South and North Korea, Russia and the US -- said the process is not yielding the results the international community wants.

He said that although 'concrete' results are unlikely at the Beijing talks, 'it could be possible to lay out quite precisely the route toward achieving them.'

Losyukov said that both North Korea and the US, the two countries most at loggerheads, are 'now coming out with the biggest optimism.'

He added: 'I personally think that this (weapon) test very much complicated the situation in the region and set back the process of the six-sided talks. The result is that we lose time and the process of nuclearisation on the peninsula goes further.'

South Korea's negotiator to the six-nation talks, Deputy Minister Chun Young-Woo, is due to meet with Losyukov in Moscow tomorrow to discuss a 'road map' plan for resolving the standoff with North Korea, ITAR-TASS reported.

Russian Foreign Minister Sergei Lavrov has met his South Korean counterpart Song Min-Soon in Moscow to discuss 'resolving the nuclear problem on the Korean peninsula,' Interfax reported.

Farm out an interest in the Nyuni East Songo Songo licence ('Nyuni') to Key Petroleum

N.Korea seeks oil for halting nuclear reactor

Aminex PLC
05 March 2007

US ACTIVITY UPDATE

Aminex PLC, the oil and gas company listed in London and Dublin, offers the
following update on its US activities:


An independent report has now been finalised by Offshore Production Consultants Ltd. ('OPC') on oil and gas properties held by the Company's wholly-owned subsidiary Aminex USA, Inc. OPC is a recognised oil and gas reserves engineering firm based in London and Houston. The report is the first full re-evaluation of Aminex's US properties to be undertaken for three years and was commissioned by Aminex following participation in joint venture drilling at South Weslaco, Texas, engineering and enhancement work at the Shoats Creek field, Louisiana, and geological work in preparation for further drilling at Alta Loma, Texas. The re-evaluation reflects the effects of new drilling activity and a strong overall improvement in commodity prices.

Using a discount factor of 10% and commodity prices going forward from 2010 not exceeding $61.12/barrel for crude oil and $7.53/mcf for natural gas, the combined value of all the US properties for Proved and Probable (2P case) is $84,516,500.

http://www.investegate.co.uk/Article.aspx?id=200703050701432879S

From Davy Stockbrokers on 5th March - 50% upside and more:

http://www.rte.ie/business/2007/morningrep/download/0305davy.pdf

"OPC, an independent oil and gas engineering firm, has concluded from an analysis of Aminexs US interests that its net 2P reserves total 5.4 mmboe. This is more than double the number used in our valuation model and from which our NAV of 37p per share is derived. Aminex values its 2P reserves at $84m versus our valuation of $45m for all of its US assets (2P reserves + P3 resources).

Aminexs market cap is currently some 30m. Its valuation of its US reserves suggests that its market cap should be closer to 45m, even before adjusting for the price of an option on its exploration portfolio. This simple comparison suggests at least 50% upside in the current share price.

Drilling and 3D seismic acquisition is planned for Aminexs US properties over the coming months."

Aminex/Ndovu Resources completed the drilling of Nyuni 1 well in the Nyuni Licence and confirmed an active petroleum system in the area evidenced by gas and oil finds.

http://www.ippmedia.com/ipp/observer/2007/03/11/86093.html