AMINEX Drilling update: two new wells spudded in Egypt and Tanzania

Aminex PLC (“Aminex” or the “Company”) announces that two further wells in its current programme have been spudded over the last three days.

In Tanzania the Kiliwani North-1 well (“KN-1”) commenced drilling on Saturday 23 February from Songo-Songo Island offshore Tanzania using the Caroil-6 land rig.  The well is located roughly 2 km from the producing Songo-Songo gas field in the southern part of the island and will be drilled as a vertical exploration well to a depth of approximately 2,000 metres.  KN-1 has been designed firstly to intersect a possible new oil play for the Nyuni block in Palaeocene sands and secondly to investigate the Lower Cretaceous (Neocomian) sand stones which are the reservoir at the Songo-Songo producing gas field. 

Moving the rig from Kiliwani Island to Songo-Songo Island and rig-up has been achieved well ahead of the provisionally estimated time and experience gained from the last well drilled will be put to good use during the drilling of KN-1.

Participants in KN-1 well are:
Ndovu Resources Ltd. (Aminex)                     39%   (Operator)
RAK Gas Commission                                    25%
Key Petroleum Ltd.                                      20%
East African Exploration Ltd.                          10%
Bounty Oil and Gas NL                                    6%

In Egypt the Malak-1 well in West esh el Mellahah Block 2 (“WEEM-2”) commenced drilling on Friday 22 February using the ZJ-46, a new-build 2,000 HP rig recently arrived in Egypt, owned and operated by the Shengi-Bohai Drilling Company of China.  This vertical well is located on the Malak prospect and will be drilled to a total depth of 3,800 metres which is expected to take approximately 30 days. Malak-1 will be immediately followed by a second well using the same rig.  Depending on well results, a third and further wells could be drilled immediately after completion and testing of the first two.  The joint venture participants are Aminex Petroleum Egypt Ltd. (operator, 80%) and Groundstar Resources Ltd. (20%).  Shareholders with Aminex PLC in Aminex Petroleum Egypt Ltd. are Volant Petroleum, First Energy, Sinopex and FS International Corporation.  Aminex PLC has a 10% beneficial interest in the WEEM-2 permit which is free-carried by other interest holders through to first commercial production.

WEEM-2 is in the onshore part of the highly productive Gulf of Suez region, close to the coastal town of Hurghada.

  The ZJ-46 rig is available to the joint venture on a call-out basis for an eighteen month period.

Aminex chairman Brian Hall commented:  “After many months of careful preparation, these two important wells have coincidentally been spudded within 24 hours of each other and should take approximately the same time to drill.  Aminex is currently involved in a major drilling campaign for which new funds were raised in 2007.  Shareholders will be kept advised of significant events.  A map of the WEEM-2 area showing the Malak-1 location will be posted on the Company’s website in the near future” .  

(Aminex Press Release)


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