Aminex PLC
21 December 2007
AMINEX PLC
NEW DRILLING IN TEXAS
21 December 2007
Aminex PLC, the oil and gas company listed in London and Dublin, announces the
commencement of drilling of GU #38, its fourth development well in the South
Weslaco Field, Hidalgo County, Texas. A rig operated by the Edde Drilling
Company has been contracted on a turnkey basis to drill the new well to a depth
of 11,000 feet (3,352 metres) and is moving on to location this weekend. The
drilling objectives are the Frio sands deeper than 10,000 feet (3,048 metres)
which were not tested by the previous deep well, GU #37. Estimated drilling
time is 25-30 days.
The GU#37 was completed and tested in September at a rate in excess of 2.5 mm
cubic feet/day after a successful fracture stimulation in the 9,500 feet (2,895
metre) Frio sands.
Aminex has already participated in three wells at South Weslaco as part of an
ongoing multi-well development drilling programme which commenced in 2005. The
initial wells, GU#35 and GU#36, were both drilled to a total depth of
approximately 9,000 feet (2,743 metres) and the subsequent GU#37 was the first
in the programme to test the deeper Frio sands. In all cases logs encountered
commercial quantities of gas in multiple formations and all three existing wells
are on production.
The joint venture partners have now discovered gas reserves in excess of 20
billion cubic feet in the South Weslaco field. Aminex has a 25% WI in the new
well which is being operated by Kaler Energy. Partner interests are: Stalker
energy 49%, Activa Resources 25% and Kaler Energy 1%.
For further information:
Brian Hall Aminex +44 (0) 20 7291 3100
Archie Berens Pelham PR +44 (0) 20 7743 6670
This information is provided by RNS
The company news service from the London Stock Exchange