Email Facebook Twitter

Aminex Regulatory News (AEX)

Regulatory News for Aminex (AEX)

Share Price: 1.85Bid: 1.80Ask: 1.90Change: 0.00 (0.00%)No Movement on Aminex
Spread: 0.10Spread as %: 5.56%Open: 1.85High: 1.85Low: 1.85Yesterday’s Close: 1.85


Thu, 1st Mar 2012 07:00

RNS Number : 4416Y
Aminex PLC
01 March 2012








Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces the sale of the Somerset Field in Texas.


The Company's Aminex USA, Inc. subsidiary has completed agreements to sell leases and other assets comprising the Somerset Field for a total consideration of $701,600.  The sale was comprised of two separate transactions:


1.    A portion of the field was sold for $326,600 to Sun Edison which will construct solar farms on the property.

2.    The remainder of the field and related assets were sold to Cheap Oil Inc. for $375,000.  Cheap Oil assumes responsibility for plugging and abandoning old wells and other facilities where required, estimated by Aminex to cost approximately $2 million.  Cheap Oil Inc. will also take over liability for equipment leases.


Aminex purchased the Somerset Field assets in 1994 and the property consists of a large number of low-productivity 'stripper' wells.  Due to the potential abandonment liabilities and a high operating cost per barrel, no reserves value has been attributed to Somerset in recent years. 


Aminex CEO, Stuard Detmer, commented:  "The divestment of the Somerset properties, while small in size, is an important first step in rationalising the Aminex portfolio and redirecting resources towards high impact investments in core geographies."


For further information:


Aminex PLC                                          +44 (0) 20 7291 3100

Stuard Detmer - CEO


M: Communications                           

Patrick d'Ancona                                 +44 (0) 20 7920 2347 or +44 (0) 7768 981 256

Chris McMahon                     +44 (0) 207 920 2358 or  +44 (0) 7703 045 103







This information is provided by RNS
The company news service from the London Stock Exchange

Related Shares: Aminex (AEX)

New AEX Regulatory News released today.Become a Registered Member for free to view articles as they are released in real-time.
19-Nov-15 07:01RNSINTERIM MANAGEMENT STATEMENT - THIRD QUARTER 2015Results and Trading Reports
19-Nov-15 07:00RNSPART DISPOSAL AND FARM OUT OF TANZANIAN ASSETSMergers, Acquisitions and Disposals
05-Oct-15 07:00RNSKiliwani North UpdateCompany Announcement - General
26-Aug-15 07:00RNSHalf Yearly ReportResults and Trading Reports
24-Aug-15 07:00RNSCorporate UpdateCompany Announcement - General
04-Aug-15 07:01RNSHolding(s) in CompanyHolding(s) in Company
30-Jun-15 16:30RNSStandard Form TR-1Holding(s) in Company
30-Jun-15 15:00RNSTotal Voting RightsHolding(s) in Company
30-Jun-15 15:00RNSNotification FormDirectors' Dealings
25-Jun-15 07:00RNSIssue of EquityCompany Announcement - General
04-Jun-15 07:00RNSLoan Extension and UpdateCompany Announcement - General
20-May-15 16:00RNSResult of AGMResults and Trading Reports
20-May-15 07:00RNSAGM StatementResults and Trading Reports
19-May-15 07:00RNSInterim Management Statement - First QuarterResults and Trading Reports
14-May-15 07:00RNSCompletion of Competent Person's ReportCompany Announcement - General
27-Apr-15 12:30RNSAnnual Report and Notice of AGMCompany Announcement - General
14-Apr-15 07:00RNSFinal ResultsResults and Trading Reports
01-Apr-15 07:00RNSCorporate UpdateCompany Announcement - General
16-Mar-15 07:00RNSTanzania UpdateCompany Announcement - General
09-Mar-15 13:30RNSEgypt West Esh el Mellaha UpdateCompany Announcement - General
25-Feb-15 07:00RNSKiliwani North Development Licence SaleCompany Announcement - General
18-Feb-15 07:00RNSOperations UpdateCompany Announcement - General
03-Feb-15 07:00RNSKiliwani North Development Licence Sale UpdateCompany Announcement - General
18-Dec-14 07:00RNS-RUpdated Corporate PresentationCompany Announcement - General
17-Dec-14 07:00RNSKNDL - Partial Disposal UpdateCompany Announcement - General
18-Nov-14 07:00RNSInterim Management Statement - Q3 2014Results and Trading Reports
12-Nov-14 07:00RNSKiliwani North Development LicenceMergers, Acquisitions and Disposals
20-Oct-14 15:58RNSDirector/PDMR ShareholdingDirectors' Dealings
17-Oct-14 07:00RNSDirectorate ChangeExecutive Changes
14-Oct-14 07:00RNSSale of up to 13% of Kiliwani NorthMergers, Acquisitions and Disposals

Regulatory news is displayed end of day, each day at 19:00.
Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.