28th Jan 2008 07:00
Aminex PLC26 January 2008 AMINEX PLC EGYPTIAN PROGRESS REPORT 28 January 2008 Aminex PLC ("Aminex") is pleased to announce progress on its Egyptianexploration licence, West esh el Mellaha Block 2 ("WEEM"). A new 2000 HP drilling rig (Rig ZJ-46) built in China was successfully deliveredto the Gulf of Suez in mid-January. This rig is contracted for 18 months on ashared "call-out" basis for the WEEM group and other operators. The first well location to be drilled on WEEM will be Malak-1 and containershave now been transported to the drill-site where rigging-up is already 20%complete. Barring unforeseen difficulties, drilling is expected to commence bymid-February. The Malak-1 well, first of two back-to-back wells in the programme, will bedrilled to a total depth of 12,500 feet (3,800 metres) and is anticipated totake 30 days. Depending on results, the rig will be available for furtherdrilling and additional wells may be drilled immediately after completion of thefirst two wells or at a later date. A further announcement will be made when the Malak-1 has been spudded. Aminex has a 10% beneficial interest in WEEM, carried through to firstcommercial production, and partners are First Energy Ltd., Groundstar ResourcesLtd., FS International Corporation and Sinopex Ltd. Aminex Executive Chairman Brian Hall commented: "Good progress has been made atWEEM which will become the third concurrent drilling campaign in which Aminex isat present directly involved. On the Nyuni-East Songo Songo concession inTanzania, the Kiliwani-1 well is now close to target. This will be followed bythe spudding of the nearby Kiliwani North well to test a separate prospect. InHidalgo County, Texas the recently-announced gas discovery well in the SouthWeslaco Field, GU#38, will be tested in the near future and this will befollowed by drilling of a further well, GU#39. Additionally, plans are ongoing but not yet finalised for drilling a second well to test a new deep gasprospect in the Alta Loma area, Galveston County, Texas, close to existingAminex gas production." For further information: Brian Hall Aminex +44 20 7291 3100 Alisdair Haythornthwaite Pelham +44 20 7743 6676 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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