21st Dec 2007 07:01
Aminex PLC21 December 2007 AMINEX PLC NEW DRILLING IN TEXAS 21 December 2007 Aminex PLC, the oil and gas company listed in London and Dublin, announces thecommencement of drilling of GU #38, its fourth development well in the SouthWeslaco Field, Hidalgo County, Texas. A rig operated by the Edde DrillingCompany has been contracted on a turnkey basis to drill the new well to a depthof 11,000 feet (3,352 metres) and is moving on to location this weekend. Thedrilling objectives are the Frio sands deeper than 10,000 feet (3,048 metres)which were not tested by the previous deep well, GU #37. Estimated drillingtime is 25-30 days. The GU#37 was completed and tested in September at a rate in excess of 2.5 mmcubic feet/day after a successful fracture stimulation in the 9,500 feet (2,895metre) Frio sands. Aminex has already participated in three wells at South Weslaco as part of anongoing multi-well development drilling programme which commenced in 2005. Theinitial wells, GU#35 and GU#36, were both drilled to a total depth ofapproximately 9,000 feet (2,743 metres) and the subsequent GU#37 was the firstin the programme to test the deeper Frio sands. In all cases logs encounteredcommercial quantities of gas in multiple formations and all three existing wellsare on production. The joint venture partners have now discovered gas reserves in excess of 20billion cubic feet in the South Weslaco field. Aminex has a 25% WI in the newwell which is being operated by Kaler Energy. Partner interests are: Stalkerenergy 49%, Activa Resources 25% and Kaler Energy 1%. For further information: Brian Hall Aminex +44 (0) 20 7291 3100Archie Berens Pelham PR +44 (0) 20 7743 6670 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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