Aminex PLC
09 August 2006
Aminex PLC
New well commences drilling in Hidalgo County, Texas,
9 August 2006
Aminex PLC ("Aminex"), the oil and gas company listed on the London and Irish
Stock Exchanges, today announces that drilling of the South Weslaco Well GU#37
well in Hidalgo County, Texas has now commenced. Aminex's interest in this well
is held through a wholly-owned subsidiary, Aminex USA, Inc.
This is the third development well to be drilled by Aminex in the South Weslaco
field and will test deep objectives in the high pressure gas formations of the
Lower Frio sands. The target depth is 11,200 feet (3,400 metres). The first
two wells, GU#35 and GU#36, completed in the shallower Frio sands formation
where further drilling is also planned, were brought on stream during December
2005 and are currently producing at a rate of approximately 2.5 million cubic
feet per day. The GU#37 well is expected to reach target depth in the next few
weeks.
Following a decision by Apache Corporation to exercise an option to participate
with a 50% interest in GU#37, partners in the well are: Aminex USA, Inc.
(12.5%), Apache Corporation (50%), Stalker Energy LP (24.5%) (operator), Activa
Resources LLC (12.5%) and Kaler Energy Corp (0.5%). Aminex retains a 25%
interest in the existing producing wells.
Enquiries:
Aminex PLC +44 (0) 20 7240 1600
Brian Hall - Chief Executive
Pelham Public Relations +44 (0) 20 7743 6679 / +44(0)7802 442486
Archie Berens
This information is provided by RNS
The company news service from the London Stock Exchange