Business
Egyptian Progress Report
Egyptian Progress Report.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n26 January 2008\n\n AMINEX PLC\n\n EGYPTIAN PROGRESS REPORT\n\n 28 January 2008\n\nAminex PLC (\"Aminex\") is pleased to announce progress on its Egyptian\nexploration licence, West esh el Mellaha Block 2 (\"WEEM\").\n\nA new 2000 HP drilling rig (Rig ZJ-46) built in China was successfully delivered\nto the Gulf of Suez in mid-January. This rig is contracted for 18 months on a\nshared \"call-out\" basis for the WEEM group and other operators.\n\nThe first well location to be drilled on WEEM will be Malak-1 and containers\nhave now been transported to the drill-site where rigging-up is already 20%\ncomplete. Barring unforeseen difficulties, drilling is expected to commence by\nmid-February.\n\nThe Malak-1 well, first of two back-to-back wells in the programme, will be\ndrilled to a total depth of 12,500 feet (3,800 metres) and is anticipated to\ntake 30 days. Depending on results, the rig will be available for further\ndrilling and additional wells may be drilled immediately after completion of the\nfirst two wells or at a later date.\n\nA further announcement will be made when the Malak-1 has been spudded.\n\nAminex has a 10% beneficial interest in WEEM, carried through to first\ncommercial production, and partners are First Energy Ltd., Groundstar Resources\nLtd., FS International Corporation and Sinopex Ltd.\n\nAminex Executive Chairman Brian Hall commented: \"Good progress has been made at\nWEEM which will become the third concurrent drilling campaign in which Aminex is\nat present directly involved. On the Nyuni-East Songo Songo concession in\nTanzania, the Kiliwani-1 well is now close to target. This will be followed by\nthe spudding of the nearby Kiliwani North well to test a separate prospect. In\nHidalgo County, Texas the recently-announced gas discovery well in the South\nWeslaco Field, GU#38, will be tested in the near future and this will be\nfollowed by drilling of a further well, GU#39. Additionally, plans are ongoing\n but not yet finalised for drilling a second well to test a new deep gas\nprospect in the Alta Loma area, Galveston County, Texas, close to existing\nAminex gas production.\"\n\nFor further information:\n\nBrian Hall Aminex +44 20 7291 3100\n\nAlisdair Haythornthwaite Pelham +44 20 7743 6676\n\n\n This information is provided by RNS\n The company news service from the London Stock Excha...