Aminex PLC
26 January 2008
AMINEX PLC
EGYPTIAN PROGRESS REPORT
28 January 2008
Aminex PLC ("Aminex") is pleased to announce progress on its Egyptian
exploration licence, West esh el Mellaha Block 2 ("WEEM").
A new 2000 HP drilling rig (Rig ZJ-46) built in China was successfully delivered
to the Gulf of Suez in mid-January. This rig is contracted for 18 months on a
shared "call-out" basis for the WEEM group and other operators.
The first well location to be drilled on WEEM will be Malak-1 and containers
have now been transported to the drill-site where rigging-up is already 20%
complete. Barring unforeseen difficulties, drilling is expected to commence by
mid-February.
The Malak-1 well, first of two back-to-back wells in the programme, will be
drilled to a total depth of 12,500 feet (3,800 metres) and is anticipated to
take 30 days. Depending on results, the rig will be available for further
drilling and additional wells may be drilled immediately after completion of the
first two wells or at a later date.
A further announcement will be made when the Malak-1 has been spudded.
Aminex has a 10% beneficial interest in WEEM, carried through to first
commercial production, and partners are First Energy Ltd., Groundstar Resources
Ltd., FS International Corporation and Sinopex Ltd.
Aminex Executive Chairman Brian Hall commented: "Good progress has been made at
WEEM which will become the third concurrent drilling campaign in which Aminex is
at present directly involved. On the Nyuni-East Songo Songo concession in
Tanzania, the Kiliwani-1 well is now close to target. This will be followed by
the spudding of the nearby Kiliwani North well to test a separate prospect. In
Hidalgo County, Texas the recently-announced gas discovery well in the South
Weslaco Field, GU#38, will be tested in the near future and this will be
followed by drilling of a further well, GU#39. Additionally, plans are ongoing
but not yet finalised for drilling a second well to test a new deep gas
prospect in the Alta Loma area, Galveston County, Texas, close to existing
Aminex gas production."
For further information:
Brian Hall Aminex +44 20 7291 3100
Alisdair Haythornthwaite Pelham +44 20 7743 6676
This information is provided by RNS
The company news service from the London Stock Exchange