AGM Statement - Replacement
June 20 2003 - 7:21AM
UK Regulatory
RNS Number:5751M
Aminex PLC
20 June 2003
The following amendment has been made to RNS 5214M released at 11:04 on
19 June 2003.
The date of the announcement should read 19 June 2003 and not July as originally
shown.
All other details are unchanged.
AMINEX PLC
("Aminex" or "the Company")
AGM Statement
The following statement was issued by Aminex PLC at the Company's Annual General
Meeting held today:
"Aminex is focused on its drilling programme over the Nyuni licence offshore
Tanzania and on the expansion of its natural gas business in the USA, where high
prevailing gas prices being achieved are currently almost double the average
price achieved in the year 2002
The company's major drilling project offshore Tanzania is on course and the
first well, Nyuni#1, is due be spudded in August. The Dafora F200 rig, to be
transported from Romania to Tanzania, has now passed inspection and shipping
details are being finalised. Contracts for supplies, equipment and personnel
are being negotiated. The Nyuni#1 location, close to the Songo Songo gas field
and the major Songas pipeline system, is planned to be drilled to a total depth
of 3,050 metres subsea to test the Neocomian formation.
In the United States, the Sabine Lake State Tract #8-1 well, originally drilled
as a discovery in late 2001, came on production on 10 June following completion
of complex production facilities and is currently producing 6 million cubic feet
of gas per day and 608 barrels of oil per day on a restricted choke. Aminex has
a 10.667% interest in this lease where further drilling is anticipated.
Production is restricted at present due to existing pipeline capacity but will
be materially increased over the next few weeks.
The prospectivity of Tanzania as a hydrocarbon province is gaining increasing
attention as large international oil companies begin to negotiate licences in
the region. Nyuni #1 will be the first offshore exploration well in Tanzania
for twelve years and is a focus of attention in the industry and with the
government of Tanzania.. Aminex plans to position itself as a leading oil and
gas company in the region. Meanwhile, surging demand for gas in the US finds
Aminex with a number of gas prospects under lease and an active drilling
schedule."
All resolutions at the AGM were passed.
19 June 2003
Enquiries:
Aminex PLC +44 (0)20 7240 1600
Brian Hall
College Hill +44 (0)20 7457 2020
Phil Wilson-Brown
Dennehy Associates +353 1 676 4733
Michael Dennehy
This information is provided by RNS
The company news service from the London Stock Exchange
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