Aminex Regulatory News (AEX)

11 Feb 2008 07:01

Aminex PLC11 February 2008 AMINEX PLC TANZANIA DRILLING UPDATE 11 February 2008 Aminex PLC, the oil and gas company listed in London and Dublin, ("Aminex")provides the following report on the end of drilling of Kiliwani -1, the firstof its current two well programme in Tanzania. Drilling of Kiliwani-1 is now complete at a total measured depth of 2,570metres. A number of sands were encountered over the target section in the welltogether with background gas. Electric wire-line logging and pressure samplinghave been extensively performed over these intervals but initial resultsindicate that the primary Neocomian target does not warrant furtherinvestigation at this location as no commercial hydrocarbons were identified.Kiliwani-1 will now be plugged and abandoned and the drilling rig relocated toSongo-Songo island to commence drilling of the next well in the programme,Kiliwani North -1, which will test a potential new oil play in the Nyuni Block. Aminex Chairman Brian Hall commented: "We were of course hoping for a betterresult from Kiliwani -1 but frontier exploration drilling inevitably carrieshigh risk. We have however accumulated significant and valuable new technicalknowledge from this operation which indicates that, although the Neocomiantarget sands were encountered below the gas-water contact of the adjacentSongo-Songo Gas Field, there appears to be potential for oil as well as gas inthis part of the block. Looking forward, the next well in the programme, Kiliwani North-1, will betesting both the Songo-Songo Gas Field reservoir system and a shallower Tertiarystructure. Kiliwani -1 was drilled on the flank of this Tertiary structure andintersected a sandstone horizon at the mapped depth level. Kiliwani North-1will test the same reservoir interval but up-dip and within an anticlinalstructure. Aminex has a heavy ongoing exploration programme in several countries for whichfunds were raised last year. It is anticipated that first drilling willcommence on the West esh el Mellahah block in Egypt at an early date, inparallel with drilling at Kiliwani North." Participants in the Nyuni/East Songo-Songo PSA are: Ndovu Resources Ltd. (Aminex) (Operator) 39%RAK Gas Commission 25%Key Petroleum Ltd. 20%East African Exploration Ltd. 10%Bounty Oil and Gas NL 6% For further information: AminexBrian Hall +44(0) 20 7291 3100 Pelham PRArchie Berens +44(0) 20 7743 6679 This information is provided by RNS The company news service from the London Stock Exchange