Business
Re Eqypt Agreement
Re Eqypt Agreement.
About this update from Aminex Plc
[{"type":"text","content":"\n Aminex PLC\n18 September 2006\n\n\n18 September 2006\n\n\n\n Aminex PLC ('Aminex')\n\n Ministerial Signing of Production Sharing Contact\n\nAminex PLC, the oil and gas company listed in London and Dublin, announces that\non Sunday 17th. September it signed a Production Sharing Agreement (PSA) for\nOnshore Block 2 in the West Esh El Mellahah area (\"WEEM\") in upper Egypt at a\nformal signing ceremony with the Egyptian Minister of Petroleum. This\nconcession had previously received presidential and parliamentary approval, as\nannounced to shareholders, but today's signing marks the start of the first\nconcession period.\n\nThe licence has been awarded to Aminex Petroleum Egypt Ltd., in which Aminex PLC\nhas a 10% working interest.\n\nSpeaking from Cairo yesterday, Aminex Chief Executive Brian Hall said:\n\n\"This concludes a lengthy process of concession finalisation and we are very\npleased now to be able to start work on WEEM. The first exploration period\ncalls for three exploration wells. There is existing, modern 3D seismic data\nalready available on Block 2 and it is likely that early drilling can be\naccomplished, two wells being scheduled for 2007 subject to any operating\nconstraints. We regard WEEM as a very prospective area for hydrocarbons and in\naddition we are in early stage negotiations on other exploration blocks in\nEgypt.\"\n\nEnquiries:\n\nAminex PLC +44 (0) 20 7240 1600\nBrian Hall, Chief Executive\n\nPelham Public Relations +44 (0) 20 7743 6679 / +44 (0) 7802 442486\nArchie Berens\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n ","length":1676,"tagName":"div"}]