Aminex PLC
25 October 2007
FOR IMMEDIATE RELEASE
25 October 2007
Aminex PLC ("Aminex" or "the Company")
New Production Sharing Contract In Kenya
Aminex PLC, , the oil and gas company listed in London and Dublin, today
announces that it has signed a Production Sharing Contract ("PSC") with the
Minister of Energy in Kenya. The PSC covers two contiguous near-shore blocks
designated L17 and L18, partly onshore but mostly offshore, centred on the port
city of Mombasa and stretching between the Tanzanian border and the Kenyan
coastal town of Kilifi, with a combined surface area of just under 5,000 square
kilometres.
Aminex and its partners previously held a Technical Evaluation Agreement for L17
and L18 and have already acquired new 2D marine seismic. A seabed core sampling
operation has also been conducted which has revealed encouraging shows of
hydrocarbons.
The PSC is for seven years, with an obligation to acquire seismic in an initial
two year period and drilling commitments in subsequent periods. This is the
first time that a Technical Evaluation Agreement in Kenya has been converted to
PSC status and the first time that a Kenyan company (partner SomKen Ltd.) has
embarked on frontier exploration in the country.
Aminex is the nominated operator of this PSC with a 25% share. Aminex's partners
are SomKen Ltd. (35%) and East African Exploration Ltd. (40%).
Aminex Chairman Brian Hall commented:
"While other countries in the East African region have recently witnessed an
unprecedented boom in exploration activity, Kenya has been relatively quiet.
Our exploration targets in L17 and L18 are a logical extension of the work we
are already doing in Tanzania and Madagascar and we are very pleased to have
signed this PSC with the Kenyan Minister today".
For further information:
Aminex PLC
Brian Hall Tel: +44 (0) 20 7291 3100
Pelham Public Relations
Archie Berens Tel: +44 (0) 20 7743 6679
This information is provided by RNS
The company news service from the London Stock Exchange