Well Re-completion Test in Shoats Creek, Louisiana

Aminex PLC 21 February 2000 Monday 21st February 2000 Aminex successfully tests a well re-completion in Shoats Creek, Louisiana Aminex PLC ('Aminex') the oil and gas development, production and oilfield services group, listed on the London and Dublin Stock Exchanges, today announces that its wholly owned subsidiary, Aminex USA Inc, has successfully flow tested the re-completion of the Cain No. 1 well on its Shoats Creek Field in Beauregard, Parish, Louisiana. The well tested at rates of 145-170 barrels of oil per day and 200 Mcf of gas per day on an 14/64ths. choke from the Cockfield formation at a depth of approximately 8,900 feet (2,715 metres). Aminex owns and operates this field and is now preparing to implement a development programme for the re-completion of additional well bores and the construction of production facilities. This programme is being funded under the financing arangement with McAlester Fuel Company announced in September 1999. The Cain No. 1 well is expected to produce, on artificial lift, approximately 150 barrels of oil per day as soon as the production facilities and connections for the delivery of gas are completed. Commenting on the announcement, Brian Hall, Aminex Chief Executive, said: 'Recompletion of the Cain No. 1 well is part of Aminex's major drilling and well re-completions programme on its extensive inventory of leases in the onshore Gulf Coast area of Texas and Louisiana. This programme is on track to drill 15 new wells in the first half of 2000 and has already increased production by over 500 barrels per day in the U.S., enabling the group to take early advantage of current high oil prices. 'This is a very exciting and active period for Aminex in the USA. Having acquired significant acreage on advantageous terms during the oil price slump of 1998-99, we are now well placed to exploit its potential in a strong oil market. The results of recently drilled wells on the group's Vinton Dome Field will be announced once partner restrictions have been lifted and partners' interests have been finally determined.' For further enquiries: Brian Hall, Aminex PLC 44 171 240 1600 John Evans, Financial Dynamics 44 171 269 7295