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

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.

Lovely and a 10p buy straight away.

DES has quadrupled before it even gets a rig out and is capitlised at 65m. Think what AEX's potential is with it's position and acreage - the farmout potential to the oil majors, and lower drilling costs. I agree with Paul that the sp could be in pounds rather than pence within a couple of yrs. Short term potential is great with newsflow expected and the seismic data - not sure of the timescale of this though.

Digital Look have got this as 15.39 million market capital, i don`t know where you got 8.5 million from Adam? Does anyone know the true market capital as lots of sites seem to vary.
DB66

DB,

Is that figure in Sterling? I got the 8.5m from ADVFN, but it looks as though that is a few days out.

As Paul states there is roughly 1m shares x 9.88 so 9.8m at the moment.

Hang on there folks, it looks like Diana has got the right connections. 10P to buy now. Hopefully we should see more to come by the end of the week.

Yes thats sterling and they have got 155 million in issue x 9.88p= 15.39 million.

Cheers DB, will be using their fundementals from now on!

Hi All,

Thanks for the correct MCap, I just looked at the ADVFN quick quote page, which is blatently wrong, but not too far out to make them overpriced !

Nice to see some blue on the SP, and a bit more interest. The discussion I started last week on www.fillyaboots.com has already recieved 1110 views :)

Research note from Edison Research, should be out next week sometime, and should generate a bit more interest.

Cheers,
PM