Farm-Out Update

21 Mar 2007 07:02

Aminex PLC21 March 2007 21 MARCH 2007 AMINEX PLC ("Aminex" or the "Company") NYUNI / EAST SONGO SONGO PRODUCTION SHARING AGREEMENT, TANZANIA - FARM-OUT UPDATE Aminex, the oil and gas company listed on the London and Irish Stock Exchanges,announces that its farm-out of a 20% interest in the Nyuni / East Songo Songolicence in Tanzania to Key Petroleum Ltd. ("Key"), announced to shareholders on5 February 2007, has been finalised. The two outstanding conditions of thefarm-out, being (1) completion of an underwriting agreement for a proposedfinancing by Key and (2) formal consent from the Government of Tanzania, havenow been met. Aminex also announces that East Africa Exploration has now completed itsobligations under a seismic programme on the Nyuni / East Songo Songo PSA at acost of $2 million and has now earned a 10% working interest in the PSA. Interest owners are: Ndovu Resources Ltd. (Aminex subsidiary) 64% Bounty Oil 6% Key Petroleum 20% East Africa Exploration 10% END Enquiries: Aminex PLC +44 (0) 20 72913100 Brian Hall - Chief Executive Pelham Public Relations +44 (0) 20 7743 6679 Archie Berens This information is provided by RNS The company news service from the London Stock Exchange