Aminex
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Address
7 Gower Street
London
WC1E 6HA
UK
Tel
+44 (0)20 7291 3100
Fax
+44 (0)20 7636 9667
Web
http://www.aminex-plc.com
Email
info@aminex-plc.com
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Capex
Future Plans
Aminex is about to embark on an ambitious drilling programme, in East Africa and the USA. The Company has a well diversified spread of risk and a balanced portfolio ranging from proved reserves in Texas, upcoming drilling close to established production at Nyuni and in Egypt, two major and prospective licences in industry hot spots at Ruvuma and in Madagascar and, at the far end of the spectrum, exclusive rights to all the potentially petroleum-bearing basins of North Korea. Recent highly encouraging political developments in North Korea may serve Aminex's interests well, while the Company's early entry into the East Africa region positions it strategically as a pioneer in an exciting new region.
Production
2006 oil production at 30,000 barrels is 10% up on 2005 whereas gas production has more than doubled from 59mmcf in 2005 to 129mmcf in the current year. The average oil price achieved during 2006 was US$58.35 per barrel, an increase of US$8 per barrel over the 2005 average. Most of the oil sold was from the Group's Somerset field, the production from which is classified as South Texas Sour that is priced at a discount of up to US$4 per barrel against the standard West Texas Intermediate (WTI) pricing. The average gas price obtained in 2006 was US$5.91 per mcf compared with an average price of US$7.81 in 2005. The increase in gas production in the current year is due to two new wells which came on stream at the South Weslaco field during the last two weeks of 2005.
Reserves
Who's Who
Brian Hall
Chief Executive
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Derek Tughan
Non-Executive Chairman
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Simon Butterfield
Finance Director
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Antonio Prado
Executive Director and President Aminex USA, Inc.
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Didier Murcia
Executive Director and Managing Director, Tanzoil NL
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Michael Pereira-Rego
Group Exploration Director
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David Hooker
Non-executive Director
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Andrew Windham
Non-executive Director
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Max Williams ACA
Financial Controller & Company Secretary
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Nicholas Cameron
Senior Exploration Adviser
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Jonathan Major
Manager, Supply & Logistics
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Offices
United Kingdom
Head Office
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Ireland
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United States
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Australia
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United Kingdom
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Tanzania
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Madagascar
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Korea (South)
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Egypt
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