Aminex Regulatory News (AEX)

18 Oct 2005 07:00

Aminex PLC18 October 2005 18 OCTOBER 2005 AMINEX PLC MADAGASCAR LICENCE AWARD Aminex PLC ("Aminex"), the oil and gas company listed in London and Dublinannounces the award of onshore exploration acreage in Madagascar. Aminex, with partner Mocoh Resources Ltd.("Mocoh"), has been awarded the rightsto Block 3108, known as Manja, onshore the west coast of Madagascar and coveringan area of 10,725 square kilometres, (approximately 2.6 million acres). Therights to this block are held through a Production Sharing Agreement ("PSA")between OMNIS, the Madagascar state oil and mining organisation and AmicohResources Limited ("Amicoh"), a newly formed company, in which Aminex and Mocoheach holds an equal number of shares and through which the shareholders willfund exploration activity in equal proportions. Mocoh is an active downstreamAfrican petroleum group with existing assets and distribution operations in anumber of countries including Madagascar. Several wells have been drilled in the past on Manja, some of which foundsignificant shows of oil and gas without benefit of modern seismic and otherexploration tools available today. The geology is analogous to the East Coast ofTanzania where Aminex is already a well-established explorer. A number ofinternational oil and gas companies have become active in Madagascar recently,including Exxon-Mobil, Norsk-Hydro, Vanco, Sterling Energy, Vuna Resources andSun-Pec. The Manja PSA calls for seismic in an initial two-year period followed byexploration drilling in subsequent periods. The effective date of the PSA willcommence upon signing of a Presidential decree, estimated to take place in 30 to45 days time. Commenting on the award, Aminex Chief Executive Brian Hall said: "We are verypleased to have secured the exploration rights to this interesting block and tobe participating in Madagascar's fast growing exploration effort. This is ourfirst joint project with Mocoh since a recent agreement for co-operation inAfrican exploration ventures." Further info: Brian Hall Chief Executive, Aminex+44 (0)20 7240 1600 Archie Berens, ICIS+44 (0) 20 7651 8688 or +44 (0) 7802 442486 This information is provided by RNS The company news service from the London Stock Exchange