Aminex Regulatory News (AEX)

2 Nov 2005 07:00

Aminex PLC02 November 2005 2 November 2005 AMINEX PLC Exploration Licence award in Egypt Aminex PLC ("Aminex" or the "Company") today announces that Red Sea PetroleumLtd. ("Red Sea"), in which it has a 51% shareholding, has been awarded anonshore exploration licence close to Egypt's Red Sea coast, pursuant to theEgyptian government's 2005 First International Bidding Round. The licence area is known as West Esh El Mellaha ("WEEM") and covers 1,328square kilometres. It is close to significant existing oil production and hasbeen awarded in a competitive bidding situation. The licence will be held undera Production Sharing Contract ("PSC") which will call for exploration drillingduring the first three year period of the contract. Other shareholders in Red Sea are: Petrosino Ltd., First Energy Pty. Ltd. and FSInternational Corp. Financing arrangements for the work programme are subject tonegotiation between Red Sea's shareholders following formal execution of the PSCand will be disclosed when finalised. Commenting, Aminex Chief Executive Brian Hall said: "We are very pleased to havebeen awarded acreage in this very promising area following the creation of RedSea in 2004. The WEEM permit is a valuable addition to Aminex's Africanexploration portfolio." For further information: Brian Hall Aminex PLC 020 7240 1600 (UK) Archie Berens ICIS 07802 442486 (UK) This information is provided by RNS The company news service from the London Stock Exchange