Aminex is an oil and gas exploration, development and production company with a 19 year track-record of fulfilling projects in many areas of the world. Its shares are traded on the Full List of the London Stock Exchange.

The company’s principal focus areas are the East African coastal margin of Tanzania and the US onshore Gulf Coast of Texas and Louisiana.

Aminex has a unique acreage position in Tanzania with 4 major wells drilled including 2 discoveries.

One Tanzanian gas discovery is ready to develop and there is an active ongoing exploration programme. (Resources have recently been independently evaluated)

A current drilling programme in Louisiana is based on 3D seismic with 2 wells successfully drilled in 2010.

Aminex’s shares are traded on the Full Lists of both the London and Irish Stock Exchanges (symbol AEX).

Aminex also participates in exploration projects onshore in Egypt and offshore the Korean Peninsula.

AMOSSCO Ltd, a wholly-owned subsidiary, provides supply and logistical services to the international oil industry.

Tanzania

Aminex has been working in Tanzania since 1999. Four exploration wells have been drilled, two of which encountered commercial quantities of natural gas. Kiliwani North-1 tested gas at 40 million cubic feet/day and is being developed for commercial production.

Aminex participates in Tanzania through a wholly-owned local subsidiary, Ndovu Resources Ltd. which has interests in three Production Sharing Agreements (“PSA”)

Please click on Project name below from more information

Egypt

Image above shows rilling crew making hole on Malak-1, Egypt

• The West Esh el Mellaha-2 PSA (‘WEEM-2’) covers 1,328 km² in the onshore Gulf of Suez region.

• Main prospects are covered by 3D seismic.

• Three wells were drilled in a first period, fulfilling the licence obligation. The third well, South Malak-1, tested limited quantities of oil from Matullah and Eocene Dolomite sands but has not been completed for commercial production.

• The partners have now extended the PSA into a second period with a two well obligation.

• Aminex is free-carried through to commercial production with a beneficial interest of 10%, through a shareholding in Aminex Petroleum Egypt Ltd.

USA

• A proved producing and proved undeveloped oilfield acquired by Aminex in 1995 with 2 producing wells.
• Following interpretation of new 3D seismic, adjoining acreage was purchased in 2009 and a drilling programme initiated in 2010.
• Total surface area is now approximately 1,700 acres and Aminex has a 100% net revenue interest.
• The OM-1 well was drilled to 9,000’ in early 2010 and is now producing oil from Cockfield sands.
• In July 2010 Aminex and El Paso E&P, LP signed a 50-50 AMI agreement to explore the deep Wilcox sands which span both companies’ acreage. Aminex contributed roughly a quarter of the surface area of its deep acreage to this AMI .
• OM-10-1 was drilled by EL Paso and Aminex and TD’d at 12,410’ in the Upper Wilcox formation in July 2010, encountering and logging hydrocarbon-bearing sand intervals.
• Test results of OM-10-1 will be announced to shareholders when available.
• Further drilling plans will be determined by the test results of OM-10-1.

• Aminex has a 37.5% working interest in the Alta Loma property which is operated by El Paso.
• Sunny Ernst-2 (SE-2) has been producing from Upper Andrau sands since a successful discovery well was drilled in 2008.
• Production from the Upper Andrau sands is now declining.
• Above the Upper Andrau lies a thick section of gas, logged when the well was drilled, in a formation known as the “S” Sand. This formation offers the possibility of much more significant production and will ultimately be completed for production, with a likely boost to Aminex’s US revenues.
• Drilling of a new development well, Sunny Ernst-3, is now likely to be delayed until 2011.

Image above shows Alta Loma property

DPRK

*Korex Ltd is owned 50% by Aminex and 50% by Chosun Energy

Aminex first signed a Petroleum Agreement for co-operation in oil and gas with the government of the Democratic People’s Republic of Korea (“DPRK”) in 2004. However, for a number of reasons progress was slow for some time.

Despite challenging international politics, Aminex has succeeded in maintaining strong relations with the Korean authorities and in May 2010 formally signed a Production Sharing Contract for a large offshore area in shallow and deep water in the Korean East Sea, covering 50,000 km². The work obligation involves reprocessing and reinterpretation of old seismic data plus acquisition of new marine seismic data during an initial two-year period. Aminex believes that the East Sea has great potential for significant discoveries of oil and gas, while recognising the political challenges in the region and the need to ensure that any international sanctions are strictly observed.

Also during the reporting period, Aminex introduced a new foreign partner, Singapore-based Chosun Energy Pte Ltd (“Chosun”), which will provide finance for the initial stages and a regional base in Singapore. Chosun has acquired 50% of the Company’s special purpose vehicle Korex Ltd. in return for a consideration of $500,000.

Management

Max Williams ACA-Chief Financial Officer

Max Williams joined the Aminex Group in 1994 as Financial Controller and became Chief Financial Officer in January 2010. He is a Chartered Accountant who joined Aminex directly from the accountancy profession.
   
David Warwick-General Manager for Operations

David Warwick is a petroleum geologist with over thirty years’ experience in the oil & gas industry. He began his career with Hamilton Brothers (now part of BHP Billiton) and subsequently spent 15 years with Phillips Petroleum Company (now Conoco-Phillips) where he became head of UK exploration with a department of 40 geoscientists and directed the re-assessment of a major North Sea acreage portfolio. This led to the discovery of 2 Central North Sea oil fields and to the key discovery well on one of the Armada gas fields. Prior to joining Aminex he was General Manager for Burren Energy’s Egyptian operations.
   
Nicholas Cameron-Senior Exploration Adviser

Nick Cameron is a Petroleum Geologist retained by Aminex to support its exploration activities. During his career he has been active throughout Africa and has worked for oil companies, governments and service companies. Mr. Cameron is a well-known industry expert who is a frequent speaker at international technical conferences in addition to his active exploration work. From 1982 to 1993 he held senior posts with Conoco (now Conoco-Phillips).

Amos Ofori Quaah-Geophysicist

Amos Ofori Quaah joined Aminex in 2006 as Senior Geophysicist. He holds a PhD in geophysics from the University of London and has previously worked for Phillips Petroleum Company (now Conoco-Phillips) in the UK and for Ghana National Petroleum Corporation in Accra, during which time he served for one year as Acting Director-General.
   
Jonathan Major-Manager-Supply & Logistics

Jonathan Major has worked for the Aminex group since 1995 and manages its AMOSSCO subsidiary. As well as third party business he is responsible for supply and logistics for all the group’s operated projects outside the USA, including transporting drilling rigs and other equipment to remote locations. Before joining Aminex he was with BP in Aberdeen as Deputy Manager for North Sea supply vessel operations.
   
Ambassador I. Chialo-Director Ndovu Resources Limited

Ambassador Chialo retired from a distinguished career in the Tanzanian Diplomatic Service where he was latterly Tanzania’s Ambassador to Japan and surrounding nations in the region. He is a director of Ndovu Resources Ltd.

Thierry Murcia-Country Manager, Tanzania

Thierry Murcia has an MBA from the University of Western Australia and a background in commercial management. Before joining Aminex he worked for BP in various commercial and administrative capacities and prior to that he was with Caltex Australia. He is currently resident in Dar es Salaam

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