Successful Well Result

Aminex PLC 23 August 2000 SUCCESSFUL WELL RESULT ON THE KIRTAYEL FIELD Aminex PLC ('Aminex'), the oil and gas company listed on the London and Dublin Stock Exchanges announces the successful completion of well K-08 on the Kirtayel Field in the Komi Republic, Russia. Well K-08, originally drilled in the 1980's as an exploration well and subsequently abandoned, was re-entered, repaired and brought on to production by Aminex's AmKomi subsidiary using Aminex's Corsair rig. The well was perforated on Saturday 19 August 2000 and, during clean-up, achieved a production rate equivalent to 1,200 barrels of dry oil per day on a 9 mm (22/64ths') choke and a tubing head pressure of 55 atmospheres. The well has now been connected to AmKomi's production and export facilities at Kirtayel and is currently producing at approximately 400 barrels dry oil per day on a restricted 7 mm (18/64ths') choke and a tubing head pressure of 60 atmospheres. AmKomi's first development well drilled on Kirtayel and announced earlier this year, K-236, has produced continuously since its connection to AmKomi's production facilities during July. Well K-236 has produced over 25,000 barrels of dry oil and is currently producing at a restricted rate of 750 barrels per day. Production is transported from the field by pipeline for sale on the export market. Well K-232 is currently being drilled as a development well at Kirtayel with a target depth of 2,770 metres and is planned for completion in September. The Kirtayel Field is licensed to and operated by AmKomi, a Russian company owned 55% by Aminex, 35% by the Government of Komi and 10% by a subsidiary of Lukoil. Commenting on the well announcement, Aminex Chief Executive Brian Hall said: 'Our Kirtayel development programme is moving ahead positively and making a material contribution to group production.' For further information: Brian Hall, Aminex PLC +44 (0) 20 7240 1600 Greg Quine, Financial Dynamics +44 (0) 20 7269 7206 www.aminex-plc.com