28 August 2013
SOUTH WESLACO GAS UNIT SALE
Aminex PLC ('Aminex' or the 'Company') is pleased to announce that it has reached agreement with Northcote Energy Ltd. (Aim: NCT), ('Northcote'), a publicly-traded oil and gas company, for the sale of its 25% interest in certain producing gas wells at the South Weslaco Field, Hidalgo County, Texas. Based on market prices at the time of the initial agreement, the consideration will be approximately US$450,000 which will be settled by a combination of cash and the issue to the Company of new shares in Northcote. The effective date for the sale will be 1 September 2013.
South Weslaco is the smallest of Aminex's US properties and is not operated by Aminex.
Aminex Chairman, Brian Hall commented:
"The sale of this gas producing interest is the second in a divestment programme previously announced and follows our declared strategy for our US assets."
For further information:
Aminex PLC +44 (0) 20 7291 3100
Brian Hall, Chairman
Max Williams, Chief Financial Officer
FTI Consulting
Edward Westropp +44 (0) 20 7831 3113
Georgia Mann
This information is provided by RNS