Aminex PLC
18 September 2006
18 September 2006
Aminex PLC ('Aminex')
Ministerial Signing of Production Sharing Contact
Aminex PLC, the oil and gas company listed in London and Dublin, announces that
on Sunday 17th. September it signed a Production Sharing Agreement (PSA) for
Onshore Block 2 in the West Esh El Mellahah area ("WEEM") in upper Egypt at a
formal signing ceremony with the Egyptian Minister of Petroleum. This
concession had previously received presidential and parliamentary approval, as
announced to shareholders, but today's signing marks the start of the first
concession period.
The licence has been awarded to Aminex Petroleum Egypt Ltd., in which Aminex PLC
has a 10% working interest.
Speaking from Cairo yesterday, Aminex Chief Executive Brian Hall said:
"This concludes a lengthy process of concession finalisation and we are very
pleased now to be able to start work on WEEM. The first exploration period
calls for three exploration wells. There is existing, modern 3D seismic data
already available on Block 2 and it is likely that early drilling can be
accomplished, two wells being scheduled for 2007 subject to any operating
constraints. We regard WEEM as a very prospective area for hydrocarbons and in
addition we are in early stage negotiations on other exploration blocks in
Egypt."
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