Aminex Wiki    

edit Executive Summary

Aminex PLC  (LON:AEX) is a oil & gas exploration company. It aims for a balanced approach to the management of its oil and gas project portfolio, combining high risk-high return exploration while growing its established oil and gas production.  From its headquarters in Ireland, the company operates in a number of countries including North Korea, Kenya, Egypt and Tanzania. It also owns production operations in the US. Established in 1991, the company is listed on both the Irish and London Stock Exchanges. Aminex PLC’s business model includes direct investment in exploration opportunities and involvement in a number of international exploration joint ventures.

edit Company History

• 2000: the company enetered into a 50 / 50 joint venture with ci4net in order to develop a competitive business-to-business trading platform
• 2001: the company sold its stake in Amkomi to Lukoil for $38m
• 2002: Aminex was the subject of a hostile take-over bid from Virgin Islands-based Apple following profits made from the sale of assets in Koni Republic, Russia, but reported a net loss the following year due to the sale of these assets
• 2005: the company acquired a 10% stake in North Korean Kobril, a state-owned natural resources company, who as part of the deal received shares in Aminex and 5% of upstream earnings in North Korea
• 2007: Aminex begins to drill the Kiliwane-1 well in Tanzania

edit Current Events

• The company has explored 6 new wells over the last 2 years, of which, 3 commercial discoveries were made: Kiliwani North in Tanzania (6700 bbls oil equivalent); Sunny Ernst-2 in Texas (1300 bbls); SWGU in Texas (drilled and logged but not yet completed for production) ^[1]  

edit Business Model

Aminex has exploration licences or agreements in East and North Africa and in North Korea. It is also involved in oil and gas production in th  US and is the sole owner of oil services company Amossco.

Production/Operations

East Africa

Aminex has been building an exploration portfolio of licences on the coastal margins of East Africa, an area with proven hydrocarbon potential, since 2002, when it first entered Tanzania with the acquisition of Tanzoil. ^[2]

Tanzania:

• Nyuni - Aminex has 50% of the Nyuni Licence and is the operator. The Kiliwani North-1 well, drilled in February 2008, is located on the southeast end of Songo-Songo Island. The KN-1 well is just 3 kms from the Songo-Songo Gas Field processing facilities, owned by Songas, and is therefore very well positioned for a futuretie-in.
• Ruvuma PSA - The Ruvuma licence area is adjacent to the Mnazi Bay gas field currently under commercial development for power generation. Onshore seismic was acquired over Ruvuma during 2007 and a first well location selected with planned drilling in 2009.
• West Songo Songo - This licence area is adjacent to the western boundary of the producing Songo-Songo gas field and close to Aminex’s recent gas discovery at Kiliwani North. 

Other: