25th Oct 2007 07:01
Aminex PLC25 October 2007 FOR IMMEDIATE RELEASE 25 October 2007 Aminex PLC ("Aminex" or "the Company") New Production Sharing Contract In Kenya Aminex PLC, , the oil and gas company listed in London and Dublin, todayannounces that it has signed a Production Sharing Contract ("PSC") with theMinister of Energy in Kenya. The PSC covers two contiguous near-shore blocksdesignated L17 and L18, partly onshore but mostly offshore, centred on the portcity of Mombasa and stretching between the Tanzanian border and the Kenyancoastal town of Kilifi, with a combined surface area of just under 5,000 squarekilometres. Aminex and its partners previously held a Technical Evaluation Agreement for L17and L18 and have already acquired new 2D marine seismic. A seabed core samplingoperation has also been conducted which has revealed encouraging shows ofhydrocarbons. The PSC is for seven years, with an obligation to acquire seismic in an initialtwo year period and drilling commitments in subsequent periods. This is thefirst time that a Technical Evaluation Agreement in Kenya has been converted toPSC status and the first time that a Kenyan company (partner SomKen Ltd.) hasembarked on frontier exploration in the country. Aminex is the nominated operator of this PSC with a 25% share. Aminex's partnersare SomKen Ltd. (35%) and East African Exploration Ltd. (40%). Aminex Chairman Brian Hall commented: "While other countries in the East African region have recently witnessed anunprecedented boom in exploration activity, Kenya has been relatively quiet.Our exploration targets in L17 and L18 are a logical extension of the work weare already doing in Tanzania and Madagascar and we are very pleased to havesigned this PSC with the Kenyan Minister today". For further information: Aminex PLCBrian Hall Tel: +44 (0) 20 7291 3100 Pelham Public RelationsArchie Berens Tel: +44 (0) 20 7743 6679 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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