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

Yes Bugs I am still waiting. I did place an order to buy 250k@20p for the last few days but as you can see MMs are not in my favor. Lets see whats happen in the next few days. Just hope no newspaper pundits or tipsters recommend it to their readers or we will have a problem getting back at a reasonable price. I am sure it will come down further because I think it went up too much too quick.

Nice chance to top up in case of any weekend press?

Hi Bugz
Just bought some! I could not resist being without AEX, the last two trades are mine, wanted to buy 200k but did not get it had to split my orders and managed to get ONLY 50000. I think I will just keep on buying until I get my 250k added to my portfolio to make my total holding to 500k. Then just sit and watch. One think I have learnt from my mistake never sell a good stock to fund a bad one. This is what I did last week; I sold AEX to buy GKP. Never again will I make the same mistake. I hope you get back in soon.

Interseting article if anyone wants to have a read.
http://www.washingtonpost.com/wp-dyn/content/article/2005/10/26/AR2005102602162.html?referrer=email&referrer=email

Great find indeed kaysmart!

Unfortunately I'm out of these at the mo. Hoping to be back in at some point in the very near future. Have been in and out twice and made good profits both times so can't complain. Next time I hope to be in for the long term......always was my intention in the first place.

Aminex PLC
31 October 2005

31 OCTOBER 2005

AMINEX PLC


NEW PRODUCTION SHARING AGREEMENT IN TANZANIA

Aminex PLC ('Aminex') announces the signing of a Production Sharing Agreement
('PSA') in Tanzania between its wholly-owned subsidiary Ndovu Resources Ltd.,
the Tanzanian Minister of Energy and Minerals and the Tanzanian state oil
company, Tanzania Petroleum Development Corporation ('TPDC').

The PSA is in the Ruvuma Basin area of southern Tanzania, partly onshore and
partly offshore. The Ruvuma River is Tanzania's southern border with Mozambique
and on the Mozambique side there is a current international licensing round in
progress. Aminex's new PSA is adjacent to Tanzania's Mnazi Bay gas field
development.

This Ruvuma Basin acreage was previously held by Ndovu Resources Ltd. under a
Technical Evaluation Agreement.

The PSA is divided into two areas, Mtwara and Lindi, with a combined surface
area of approximately 12,000 square kilometres. The PSA is for an initial four
year term with options to extend for two further periods of four and three years
respectively. In the initial term there is a commitment to shoot 250 kilometres
and drill one new well in each permit.

Aminex is hoping to take advantage of the presence of a seismic vessel in the
region and shoot new seismic over the offshore areas of the PSA as soon as
possible, subject to contractual arrangements, with a view to making rapid
progress on the exploration of this area.

Commenting on the award Aminex Chief Executive Brian Hall said: 'Conversion of
the large Ruvuma Basin permit to PSA status further strengthens our portfolio.
Together with the Nyuni licence, now partly farmed-out and with new seismic
acquisition in progress, and a recent licence award onshore Madagascar, Aminex
now has a significant position on the East African margin'.

Excellent news !!!!!!!!!!!

Good to see rapid progress on the East African front.

It should be a very busy month for newsflow as the North Korean talks are scheduled to begin next week.

Mono

Bugz are you in yet?
I am glad I got in on late Friady, It looks like its on its way up again. I hope you are in.

I had a re-read of the interims as it was on the doormat yesterday and the one line I really like is "A number of other opportunities are currently under review and some are at an advanced stage of negotiation". One was obviously yesterday's announcement - what else is brewing?

Good call Kaysmart!

Nope-I'm out in the cold and its FREEZING!!!! Lol

Gonna bide my time-gonna watch the RNS like a hawk and if anything big pops up one morning at 7ish I'll be buying in at 8!!!

Problem now though for people who havent bought is deciding when to jump!!

Place your bets before the 9th November !!


BEIJING (AFX) - China has proposed restarting the six-party talks on North Korea's nuclear programme on Nov 9, a Western diplomat in Beijing said.

'This time period has been floated, we are discussing this date in internal consultations,' the diplomat said on condition of anonymity.

China early today said it has proposed a date to the two Koreas, the US, Japan and Russia for the next round of talks and is awaiting confirmation from all sides.

Foreign ministry spokesman Kong Quan refused to give the proposed date.

The last round of talks ended in September with a statement of principles under which North Korea would give up its nuclear weapons program in return for energy and security guarantees.

But Pyongyang later warned it would not dismantle its nuclear arsenal before the US supplies it with a light-water atomic reactor to generate electricity.

The US says North Korea must first disarm.

Japan's Kyodo News agency, quoting diplomatic sources in Beijing, also said the talks are likely to resume on Nov 9.

K******

Kaysmart - what price did you manage to average at?

Hi Bugz,
My first lot was 2 lots of 100k @ 9p than I bought some @12.05 and another lot @ 15.25 finally sold some at 18p at the last rise which I very much regretted. Have managed to buy back 100k I paid more than I had anticipated 21.70P. & 22P. I need to buy some more so watching L2 like a Hawk.
I hope you get back in before the talks start on 9th November. I expect SP to start the next move up. AND yes even if it went up to 50p I am not selling. I have learnt my lesson. This one has to be a long-term investment. Good Luck.

More progress on the Korean reunification front as they combine their teams for the Olympics:

http://news.bbc.co.uk/1/hi/world/asia-pacific/4396170.stm

It all helps in creating a nice atmosphere for the resumption of talks next week.

Mono

2 November 2005

AMINEX PLC

Exploration Licence award in Egypt


Aminex PLC ("Aminex" or the "Company") today announces that Red Sea Petroleum
Ltd. ("Red Sea"), in which it has a 51% shareholding, has been awarded an
onshore exploration licence close to Egypt's Red Sea coast, pursuant to the
Egyptian government's 2005 First International Bidding Round.

The licence area is known as West Esh El Mellaha ("WEEM") and covers 1,328
square kilometres. It is close to significant existing oil production and has
been awarded in a competitive bidding situation. The licence will be held under
a Production Sharing Contract ("PSC") which will call for exploration drilling
during the first three year period of the contract.

Other shareholders in Red Sea are: Petrosino Ltd., First Energy Pty. Ltd. and FS
International Corp. Financing arrangements for the work programme are subject to
negotiation between Red Sea's shareholders following formal execution of the PSC
and will be disclosed when finalised.

Commenting, Aminex Chief Executive Brian Hall said: "We are very pleased to have
been awarded acreage in this very promising area following the creation of Red
Sea in 2004. The WEEM permit is a valuable addition to Aminex's African
exploration portfolio."


For further information:

Brian Hall Aminex PLC 020 7240 1600 (UK)

Archie Berens ICIS 07802 442486 (UK)




This information is provided by RNS
The company news service from the London Stock Exchange

Bollocks!!!! Well Kaysmart, this is one I have really f*cked up!!!!

(Sigh) What a GREAT share to hold at the moment people.

Still not too late - I think there is more upside

Bugz (and other potential investors),
It's always difficult to buy a share when you know that you could, and should, have got it a day or two earlier at a reasonably lower price (happens to me at least once a week !!).
In my experience it really does not matter that you may have missed out on the first 2 or 3 pence rise this week.
If the story is a good one (and with Aminex it is currently one positive announcement after another) then you have to look at where the SP is going and not where it has come from.
IMO I think we are heading towards 30p pretty sharpish and certainly 50p would appear to be a perfectly reasonable target on a 3 or 4 month view. Even at that price the Company would 'only' be valued at around 80 million which is a snip for all the potential that it is showing.
So you have to decide whether buying at 24 or 25p today is a good deal with the potential outlined above.
It was a no brainer for me and I topped up this morning.

K******

Considering adding a third tranche - my only reservation is the Aminex % weighting in my portfolio!

Greyhound: You shouldn't have too great a chunk of your wealth at risk from the whims of the NK government. I think this is a great share, but I have take healthy profits in my dealing account the past couple of weeks, and put it into CSB which has more or less kept pace with AEX. I still have a big holding in my ISA - I can't find much else on the main list with such potential - and wouldn't want to out of AEX altogether in coming weeks and months.