Aminex Regulatory News (AEX)

14 Jan 2008 07:01

Aminex PLC14 January 2008 AMINEX PLC TEXAS DRILLING UPDATE 14 January 2008 Aminex PLC, the oil and gas company listed in London and Dublin ("Aminex" or the"Company") provides the following progress report on the GU#38 well at SouthWeslaco, Hidalgo County, Texas. GU#38 was spudded on 23 December 2007 and achieved planned total depth of 11,000feet (3,352 metres) on 9 January in deep Frio sands which had not been reachedby the three previous wells drilled in the current programme. Drilling wasachieved in 16 days, well ahead of the target drilling time of 25-30 days. Logs give strong indications of several potentially gas-bearing zones. Casing iscurrently being set and preparations made for testing and for possiblefracturing of the deepest zone if necessary. Aminex USA, Inc., a wholly-owned subsidiary of the Company, holds a 25% interestin this well. Partners are Stalker Energy (49%), Activa Resources (25%) andKaler Energy (operator of the well) (1%). Upon completion of GU #38, the joint venture will commence drilling GU#39, thenext well in the programme, which will test even deeper prospective formations. For further information: Brian Hall Aminex +44 (0) 20 7291 3100 Alisdair Haythornthwaite Pelham PR +44 (0) 20 7743 6670 Ends This information is provided by RNS The company news service from the London Stock Exchange