Business
Disposal of Madagascar Intere
Disposal of Madagascar Intere.
About this update from Aminex Plc
[{"type":"text","content":"\n RNS Number : 1866X Aminex PLC 20 June 2008 \n \n20 JUNE 2008\n\nAMINEX PLC\n\nDISPOSAL OF INTEREST IN AMICOH RESOURCES LTD\n\nAminex PL (\"Aminex\"), the oil and gas company listed in London and Dublin, today announces that it has sold its shareholding in Amicoh Resources Ltd. to fellow shareholder Mocoh Resources Ltd. for a cash consideration of $250,000 and that as a consequence is no longer a participant in the Manja licence in Madagascar.\n\nAminex chairman Brian Hall commented:\n\n\"In Madagascar progress has been slower than anticipated and selling our interest at this time represents sensible management of our overall portfolio in the region. This will allow us to concentrate more of our available resources on other projects with a potentially more immediate impact. These include appraisal and commercialisation of our recent Kiliwani North discovery, exploration of the adjoining and newly-awarded Songo-Songo West permit and first drilling in the Ruvuma Basin, all in Tanzania. In Kenya we will progress work on Blocks L17 & 18, awarded late last year, while in Texas we anticipate spudding a significant new deep exploration well at Alta Loma in the next few days. \n\nWe have benefited from excellent co-operation with OMNIS, the state oil and mining concern in Madagascar and wish the Manja project well in the future.\"\n\nEND\n\nFurther info:\n\nAminex PLC +44 (0) 20 7291 3100\nBrian Hall - Chairman\n\nPelham Public Relations +44 (0) 20 7743 6679 or +44 (0)7802 442486\nArchie Berens\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISURVRRWORNUAR\n ","length":3490,"tagName":"div"}]