Drilling Report

Aminex PLC
26 February 2001

26th February 2001

                                  AMINEX PLC

                            STOCK EXCHANGE RELEASE

Aminex PLC ('Aminex'), the oil and gas company whose shares are listed in
London and Dublin, announces that its 55% owned subsidiary, AmKomi, has
successfully drilled and logged a further well on its Kirtayel Oilfield in the
Russian internal Komi Republic.

AmKomi's K-232 well reached a total depth of 2,743 metres, using a Geotech
Uralmach 3D-86 rig. A vertical thickness of approximately 120 metres of
hydrocarbon-bearing Middle Devonian Sandstone was logged in the main
Starooskolkian reservoir. The formation character in K-232 is analogous to
that found in AmKomi's two nearby producing wells, K-236 and K-08.

The well has been cased and cemented and the rig is now being skidded off
location prior to perforating and testing which will take place in March.

Commenting on the announcement Brian Hall, Aminex Chief Executive said: 'Well
K-232 has suffered a number of delays of a technical nature, including
encountering extremely difficult drilling conditions in a shale overlying the
reservoir. Drilling techniques for Kirtayel have been re-engineered as a
result of experience gained on this well, which should be of benefit to the
ongoing drilling programme.'

For further information:

Brian Hall, Chief Executive                020 7240 1600

Alexandra Kaledina, Investor Relations     020 8308 9561

Darren Smith, Old Mutual Securities        020 7002 4617

                                     ENDS