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 All,

http://www.rigzone.com/news/article.asp?a_id=24264

I reckon that Aminex could have one of the best deals, by a junior UK oil explorer, for a very long time. Everyone thought PET had that deal, but it fizzled away. Aminex have pulled off a real coup here, and I hope they find the oil to go with it, and maximise the potential for the shareholders ....

Cheers,

PM

I guess we should have kept an eye on the Irish stock exchange too, Aminext are listed there, and rose 50% yesterday !!!!

Ticker for Dublin listing is ISE:DOP

Story is from the Irish Independent

Aminex shares rise on North Korea plan

Friday August 5th 2005

SHARES in exploration group Aminex shot up by 50pc yesterday after news that it had signed a deal to explore for oil in communist North Korea.

Aminex stock traded up 5c to 15c on the Dublin market after the group issued a statement confirming that it had signed an agreement to explore for oil and natural gas in the secretive state.

The exploration outfit will search for oil and gas at several sites on and offshore, covering 66,000 square km.

The area comprises the greater part of North Korea's territory considered likely to contain oil and gas, it said.

Cheers,

PM

Paul, how can it be valued differently on different exchanges? A similar situation with PRO yesterday with the shares on US exchange racing up 200%!

Hi, I am a housewife, a friend of my husband said this compay's share is going to double in few days time, on this basis i have bought some shares on this company. I made some money on UBT last week on his recommendation, Which doubled within few days. I am hopping he is right with Aminex too.

Hello Diana , i hope your husbands friend is right too, time will tell.
DB66

Hi All,

Edison Research, the company that produced the excellent research note on Aminex, that I posted a link to a few days ago, have just replied to my e-mail, asking when the next note would be available, the reply is below.

http://www.edisoninvestmentresearch.co.uk/research/login_required.php

--------------------------------------------------------------------------

It is in the pipeline so to speak - we are in the process of putting one together, which we hope to get signed off once the CE is back from nth Korea, which is not before next week.

have you followed the company for long?

kind regards,

Fraser Thorne

Managing Director
Edison Investment Research Limited
---------------------------------------------

Cheers,
PM

Think it will more than double over the next few mths.

Diana,
pleased to see another women in the so called mensworld. I have been buying and selling for while now. Never knew i could leave messages for others to read like this until last week. I dont buy pennyshares, but after looking at your two success I bought some this afternoon.

Mrs Lords Hi,

The large majority of stocks were once penny shares, it's always good to be in at the beginning of the story, and watch the company grow to FTSE-100 status :)

Take a look at SEO, and YOO if you have time, they are penny shares, but 3-5 years they will be 's shares. CCO look good for being 's soon, currenty with a NAV of 2.40 but an S.P of 70p-ish, check out their RNS since June to see whats happening ;~)

My SEO Research Website is a must read if you are interested http://www.stanelco.devisland.net

Cheers,
PM

Pm is right Mrs Lords, lots of penny shares have done well over the years. I think you have done the right thing buying in today.Next week could see a RISE on AEX. I bought a chank on Thursday and topped up again today. I am hearing lots of talk about this share, I think we are on to a winner.

Hi All,

From the Irish Independent, Aminex in todays issue online, register for free ....

http://www.unison.ie/irish_independent/stories.php3?ca=184&si=1446221&issue_id=12835

Aminex wins on North Korean deal

AMINEX was the biggest gainer of the week on the Dublin market, gaining 12pc after the dramatic surge which saw it post a one-day gain of 50pc on Thursday in response to news that it has signed a deal to explore for oil and gas in the secretive state of North Korea.

Cheers,
PM

Paul...can I just clarify that they are a full listing so can be placed within an isa ??

Thanks

BD

Boris Hi,

I have no idea about ISA's, they don't exist where I live, so I have never had to look into them !

I do know however, that Aminex are also listed on the Irish Stock Exchange, so I don't know if that affects the ISA.

This is from the Aminex website ....

"Aminex plc is an established upstream oil and gas company, listed on the London and Irish Stock Exchanges (symbol AEX.L), which has operated internationally since 1991.

There are approximately 100 million shares of one class in issue and over 6,000 shareholders. All the Directors are shareholders, together owning 7% of the company.

Aminex produces oil and gas in the USA and has ongoing exploration activity in Tanzania. Aminex also owns Amossco Ltd, an international oilfield service, supply and logistics company."


Cheers,
PM

Hi All,

A couple of very important statements from the latest announcement ....

"The West Sea basin is adjacent to and thought to be an analogue of Bohai Bay, Chinas 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."

Cheers,
PM

Hi All,

The area of the PSA is 66,000 Sq Km, and to put that into perspective, here are some calculations ....

66,000 Sq Km is .... 256.9 Km x 256.9 Km or 159 miles x 159 miles

The combined territories of South and North Korea is similar in size of Britain (244,100 square kilometers) and Guyana (215,000 square kilometers).

South Korea alone is about the size of Hungary (93,000 square kilometers)

And this is how Bohai Bay looks, so you can see how close West Sea Bay Basin(shown here as Korea Bay) is, to 'China's largest indigenous source of oil'

This picture shows an area about 900KM accross



As for the other areas, the East Sea is (obviously?) on the other side of N.Korea, but all the other basins that Aminex have included in the PSA, flow into the West Sea Bay Basin, so that side of N.Korea is looking very prospective ....

Cheers,

PM

Hi All,

No AEX can not be bought within an ISA. A shame considering the amount of potential Capital Gains on this one.

Bought back in on Friday, first held 3 years ago, firstly on the latest and secondly on the look of the chart which looks to be heading to at least 16p.

Good luck to all holders of this one.

Adam

Thanks for the info re the isa.So its an aim stock and not a full LSE listing ?

The stances of the six nations involved in North Korean disarmament talks that recessed Sunday in Beijing:

_UNITED STATES: Wants the "complete, verifiable and irreversible dismantlement" of North Korea's nuclear programs, both plutonium- and uranium-based. Has offered aid and other concessions in exchange, but says they will be given only after the programs are dismantled.

_NORTH KOREA: Wants economic and energy aid, a peace treaty and normalized political relations with Washington, as well as an end to economic sanctions and removal from a U.S. list of countries that sponsor terrorism. Wants aid in exchange for first freezing its nuclear programs and then more for dismantling them.

_SOUTH KOREA: Wants nuclear-free Korean Peninsula. Wants to build better ties with North while maintaining strong relations with United States, its biggest ally. Has offered energy aid if North freezes nuclear programs and begins dismantling them.

_CHINA: Wants nuclear-free Korean Peninsula. Worries that a nuclear North Korea might prompt South Korea or Japan to acquire weapons in response, upsetting regional military balance. Worries that social unrest in neighboring North could send thousands of migrants across border. Already provides food and energy aid.

_JAPAN: Site of only atomic bomb attacks wants nuclear-free Korean Peninsula but also wants Pyongyang to release relatives of five Japanese nationals abducted decades ago. Says Pyongyang must "fully and unconditionally" account for all citizens it believes were abducted by North in 1970s and 1980s.

_RUSSIA: Says it would join China and South Korea to compensate North Korea if it agrees to disarm. Says a final settlement should include normalized political relations between Pyongyang and Washington.

so whats the big deal here????

Boris,

Yep AIM. It only has a Market Cap of 8.5m, which is why any potential finds are huge to the company.