AmKomi Agree Tech. Co-operation with OAO Tebukneft

AMINEX PLC
21 October 1999


Aminex PLC, the oil and gas and oil industry service company, announces that
its subsidiary AmKomi has reached agreement for technical co-operation with
OAO Tebukneft, a Russian oil company, for operations on the Kirtayel Field.
This agreement provides for AmKomi, using an Aminex owned service rig, to re-
enter an existing Tebukneft well which needs repairs with a view to bringing
it back on to production as soon as possible.  Tebukneft will receive a rental
for the well and AmKomi will benefit from any production achieved.

In early 1998 Tebukneft brought a legal action in the Russian courts claiming
the rights to a licence held by AmKomi to part of the Kirtayel Field.  The
field is divided into two licences, one held by Tebukneft and one by AmKomi.
In late 1998 a Russian federal appeal court found in favour of AmKomi's
licence and dismissed Tebukneft's claim.  An attempt by Tebukneft to have the
case re-submitted to the Russian Supreme Court was subsequently rejected.

Commenting on this agreement, Brian Hall, Aminex CEO, said:

'We very much welcome this co-operation which marks the end of a dispute which
has lingered for some time and which involved us in costly and time consuming
litigation.  Once the well repair is complete, AmKomi will be able to
accelerate oil production from Kirtayel, where we are currently preparing to
start drilling our first new development well.'

For further information

Aminex PLC
Brian Hall, Chief Executive             0171 240 1600

Financial Dynamics
John Evans                              0171 269 7295