Company Information for Aminex Plc

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LSE; AEX

Company Statement

Aminex PLC is an established upstream oil and gas company, listed on the London and Irish Stock Exchanges (Symbol: AEX).

Aminex has operated internationally since 1991 and produces oil and gas in the USA, with ongoing exploration activity in Tanzania, North Korea, Kenya and Egypt.

Aminex invests directly with equity or as the operating partner in a consortium of several oil and gas companies. Aminex has a strong team of operating professionals accustomed to working in challenging international environments and able to integrate flexibly with specialists of other nationalities and cultures. Aminex’s aim is to build a base of exploration and production around the world, balancing high risk-high reward exploration activity with steady growth in core producing areas.

As a company based in London, one of the leading cities in the world for oil and gas transactions, Aminex encounters a large variety of international opportunities, only very few of which it is able to pursue alone. For this reason Aminex continually seeks international joint venture partners to participate in its projects.

Aminex owns AMOSSCO Ltd, an international oilfield service, supply and logistics company.

Operations and Technology

Aminex plc, which has been operating internationally since 1991, has built a portfolio of frontier exploration positions, ranging from the emerging East Africa Margin to undrilled territories in the politically-charged Democratic Peoples Republic of Korea. The London-listed company has a track record of delivering shareholder value from challenging projects: in 2002, for example, it returned capital to shareholders after a successful and profitable exit from Russia the previous year.

Today the main area of interest in the Aminex portfolio is East Africa, where the company has interests in Tanzania and Kenya (it sold its interests in Madagascar in summer 2008 for US$250,000). This regional play is starting to attract interest from some big players in the international oil and gas industry and Aminex has first-mover advantage having secured its properties before East Africa was a fashionable investment destination.

Tanzania

Nyuni

Numerous leads identified with potential for multi-million barrel discoveries.
Near-shore licence in an area of shallow reefs and small islands.
Drilling of Nyuni-1 well to nearly 4,000 metres during 2003/4 led has encountered numerous oil and gas shows in a thick but complex reservoir sequence.
New marine and transition zone 2D seismic acquired over the Nyuni Licence from 2005 to 2007.
Kiliwani North-1 exploration well, drilled February 2008 resulted in a gas discovery
KN-1 is directly adjacent to the producing field Songo Songo and only 5 km from a major gas pipeline.
Planning underway for commercialisation of KN-1 as well as further seismic and exploration wells.

Ruvuma

2007 onshore seismic acquisition programme now complete
First of 2 obligation wells will be spuded late 08/early 09
Potential for oil and gas in deep Karoo Formations, Neocomian and also Tertiary (as in adjacent Mnazi Bay field)
Ruvuma river is the frontier between Tanzania & Mozambique
Intense Exploration activity on the Mozambique side
Well with oil shows was drilled by Texaco on this PSA in 1986

West Songo Songo

On 2 June 2008, Aminex was awarded the West Songo Songo Production Sharing Agreement in Tanzania.
This offshore PSA is adjacent to the western boundary of the producing Song Songo gas field and close to Aminex's recent gas discovery at Kiliwani North, recently tested.
The new PSA is held 50% by Ndovu Resources Ltd., an Aminex wholly-owned subsidiary, and 50% by Funguo Petroleum Ltd., a wholly-owned subsidiary of Key Petroleum of Australia ("Key"). Key, and existing 20% joint-venture partner with Aminex in the nearby Nyuni PSA which includes the Kiliwani North discovery, has been nominated operator of the new PSA for West Songo-Songo.
West Songo-Songo benefits from comprehensive, existing seismic coverage and is considered by Aminex to have a high potential for the discovery of commercial quantities of hydrocarbons.
The full PSA term is for eleven years and there is an obligation to tdrill one firm well in a first three year period.

Kenya

Initial 600 km seismic survey now completed
5,000km² area mainly located onshore
Licences stretch from Tanzanian border to North of Mombasa
New seismic indicates prospective gas close to an energy-hungry market

Egypt

Licence covers approximately 1,400km² in the onshore Gulf of Suez region
Good 3D seismic coverage and adjacent to major production
Classic Gulf of Suez rift geology with excellent reservoir, source and trapping potential.
Prospective reserves on P50 basis are estimated to be 80 mmboe (8 mmboe net to Aminex).

DPRK

In 2004, Aminex signed a Petroleum Co-operation Agreement with the government of the Democratic Peoples Republic of Korea (North Korea). Under this Agreement, Aminex provides technical, commercial and legal support to the government in its efforts to construct an international oil and gas exploration and production industry. In return for providing these services, Aminex enjoys the rights of first choice for the licensing of new exploration areas.

Since the 2004 Agreement was signed North Korea has been through a period of turbulent change which has had the effect of slowing down progress in the oil and gas sector. Aminex ‘s future progress in North Korea will depend on the continuation and solidification of the process of détente that has started recently, particularly between North Korea and the USA.

Board of Directors and Key Management

Directors
Brian Hall	Executive Chairman
Didier Murcia	Chief Operating Officer
Simon Butterfield	Finance Director
Antonio Prado	Executive Director
Michael Pereira-Rego	Group Exploration Director
David Hooker	Non-executive Director
Derek Tughan	Non-executive Director
Andrew Hay	Non-Executive Director
Keith Phair	Non-Executive Director

Senior Management
Max Williams ACA	Financial Controller & Company Secretary
Nicholas Cameron	Senior Exploration Adviser
Amos Ofori Quaah	Geophysicist
Jonathan Major	Manager, Supply & Logistics
Ambassador I. Chialo	Director Ndovu Resources Ltd
Thierry Murcia	Country Manager, Tanzania
David Warwick	General Manager for Operations

Company Address

7 Gower Street
London, United Kingdom WC1E 6HA


Telephone:	+44 (0)20 7291 3100
Facsimile:	+44 (0)20 7636 9667
Email:	info[at]aminex-plc.com
Website:	http://www.aminex-plc.com

Additional Address/Key Contact

Perth Office:
Tanzoil NL
3rd Floor, 23 Barrack Street
Perth WA
Australia
Tel: +618 9221 9888
Fax: +618 9221 9844

Aminex USA inc:
PO Box 130 Somerset
Texas 78069, USA
Tel: 00 1 210 271 9919
Fax: 00 1 210 271 3302

Ndovu Resources Ltd:
Plot no 1/15 Oysterbay
PO Box 179
Dar es Salaam
Tanzania
Tel: +255 (0)22 2667199
Fax: +266 (0)22 2667284

Nominated Brokers

Landsbanki Securities (UK) Limited

Most Recent Statement

18/03/10 - Holding(s) in Company
17/03/10 - Drilling Success at Shoats Creek, Louisiana
10/03/10 - Likonde-1 Well Update, Ruvuma, Tanzania
22/02/10 - Holding(s) in Company
18/02/10 - Aminex spuds Well at Shoats Creek, Louisiana
03/02/10 - Investor Presentation

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