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10 Sep 2008 07:00
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10 September 2008
AMINEX PLC
U.S.Β UPDATE
Aminex PLC ("Aminex") provides the following update on its U.S. oil and gas activities:
SHOATS CREEK,Β LOUISIANA
Newly acquired andΒ processed 3D seismic dataΒ hasΒ nowΒ been deliveredΒ andΒ is being integrated with existing well data.
ALTA LOMA,Β TEXAS
The testing programme on the recently-drilled Sunny Ernst-2 well is currently in progress subject to delays due to hurricane activity in the immediate area. Testing results will be made available when the test has been concluded.
SOUTH WESLACO,Β TEXAS.
TheΒ GU-38 well drilled earlyΒ inΒ 2008Β has beenΒ successfully fracture-treated, completed andΒ is on production. A workoverΒ and recompletionΒ ofΒ theΒ GU-35 wellΒ has now beenΒ completed andΒ theΒ wellΒ isΒ on stream. All four wellsΒ drilled atΒ South WeslacoΒ areΒ now on productionΒ at a combined flow rate of over 3Β million cubic feet per day.
Aminex Chairman Brian Hall commented:Β "NewΒ 3D seismic in andΒ around our Shoats Creek leases has beenΒ Β acquired by Forest Oil Company as part of an extensive regional survey and has been provided free of charge to Aminex in return for access rights over our acreage.Β Β Shoats Creek has the highest potential of all ourΒ USΒ properties with independently appraised P50Β reservesΒ value of over $100 million. This new seismic, acquired over very difficult and swampy terrain, should enable us to unlock the potential of this property. The Sunny Ernst-2 well at AltaΒ LomaΒ logged multipleΒ gasΒ Β sands as announced to shareholders in August, including 60 feet (18 metres) of net gas pay in the "S" sand formation togetherΒ withΒ three other gas-bearing formations. Testing had already begun shortly before theΒ arrival of Hurricane Gustav. WeΒ are very optimistic about this well"
For further information please contact:
BRIAN HALL Chairman 020 7291 3100
ARCHIE BERENS Pelham PR 020Β 7159 6679 TARA OWEN-SMITH Pelham PR 020 3159 4396
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