Intended Placing & Farm-out

Aminex PLC
15 May 2007



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART OR IN WHOLE IN OR INTO THE
            UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA



This announcement is an advertisement and not a prospectus and investors should
not subscribe for or purchase any shares referred to in this announcement except
on the basis of information in the registration document published by Aminex on
30 March, 2007 and the summary and securities note in connection with the
placing and rights issue to be published in due course (together, the 
"Prospectus"). Copies of the Prospectus will, following publication, be 
available from, inter alia, the registered offices of Aminex.


15 May, 2007



                     Aminex PLC ("Aminex" or the "Company")

 Intended Placing and Rights Issue to raise in aggregate up to Stg£16.8 million
                        (approximately US$33.6 million)
                                      and
                          Tanzanian Farm-in Agreement

Highlights

  • Intention to place 55,882,500 new Ordinary Shares at Stg20p per share ("
    Placing Shares") to raise approximately Stg£11.2 million (approximately
    US$22.4 million) before expenses (the "Placing");

  • Intention to conduct a non-underwritten Rights Issue to qualifying
    shareholders of up to 28,163,066 Ordinary Shares on the basis of 1 new
    Ordinary Share for every 6 existing Ordinary Shares held on a record date
    (to be determined) at Stg20p per share to raise up to approximately 
    Stg£5.6 million (approximately US$11.2 million) before expenses (the 
    "Rights Issue");

  • Investors subscribing under the Placing and/or the Rights Issue will also
    become entitled to 1 new warrant with an exercise price of Stg22p each, for
    every 2 new Ordinary Shares subscribed for;

  • Proceeds of the intended Placing and Rights Issue to fund the commencement
    in 2007 of Aminex's drilling and exploration programme including activities
    in Tanzania, Egypt, Madagascar, Kenya, North Korea and the US;

  • The Placing and the Rights Issue are conditional, inter alia, upon
    shareholder approval to be sought at an extraordinary general meeting of the
    Company; and

  • Agreement to farm-out a 25% interest in the Nyuni East Songo Songo
    Production Sharing Agreement ("Nyuni PSA") whereby The Ras Al Khaimah Gas
    Commission (known as Rakgas) will pay 37.5% of the costs of two wells to be
    drilled this year on the Nyuni PSA up to an aggregate of US$15.4 million,
    thereafter paying its 25% share of all costs in excess of US$15.4 million
    going forward.



Proposed Placing and Rights Issue

The Board of Aminex is pleased to announce that Davy and Bridgewell are
arranging a Placing to raise gross proceeds of approximately Stg£11.2 million
(approximately US$22.4 million) by way of a placing of 55,882,500 new Ordinary
Shares of nominal value €0.06 each at a price of Stg20p each ("Placing Shares")
with new and existing institutional investors. The Placing will represent
approximately 33% of the existing issued share capital.

The Board also announces its intention to give Aminex shareholders an
opportunity to participate in the fundraising by way of a 1 for 6 Rights Issue
of up to 28,163,066 new Ordinary Shares of nominal value €0.06 each at a price
of Stg20p each ("Rights Issue Shares") to raise up to an additional Stg£5.6m
(approximately US$11.2 million).  Participants in the Placing will not have an
entitlement to participate in the Rights Issue in respect of their Placing
Shares.

Relative to the closing market price per Ordinary Share on the London Stock
Exchange on 14 May, 2007 (the last business date prior to this announcement) of
Stg22.75p, the issue price under the Placing and the Rights Issue represents a
discount of approximately 12%.

Investors subscribing for Placing Shares and/or Rights Issue Shares will also be
entitled to 1 new warrant for every 2 Placing Shares or Rights Issue Shares
subscribed for ("New Warrants"). Each New Warrant will entitle the registered
holders thereof on exercise in accordance with the terms of a warrant
instrument, and on payment of a subscription price of Stg22p per New Warrant, to
1 new Ordinary Share. The New Warrants will expire on 31 August 2009.

The net proceeds of the Placing of approximately Stg£9.9 million (after
estimated expenses and making no assumption as to any exercise of New Warrants)
are intended to be used to fund the commencement in 2007 of Aminex's drilling
and exploration programme including activities in Tanzania, Egypt, Madagascar,
Kenya, North Korea and the US. Net proceeds of the Rights Issue are intended to
be used to further advance this programme.

The implementation of the Placing, which is not underwritten, is conditional,
inter alia, on Davy, Bridgewell and the Company entering into a placing
agreement (the "Placing and Rights Issue Agreement"), on a warrant instrument
being executed, on shareholder approval and on admission of the Placing Shares.
The Rights Issue, which is not underwritten, is conditional, inter alia, upon
the Placing having become unconditional in all respects.



FARM-OUT OF 25% OF THE NYUNI/EAST SONGO SONGO LICENCE, OFFSHORE TANZANIA, TO
RAKGAS

Aminex announces that its 100% subsidiary Ndovu Resources Ltd. has entered into
an agreement  ("Rakgas Agreement") to farm-out a 25% interest in the Nyuni PSA
in Tanzania to The Ras Al Khaimah Gas Commission (known as Rakgas).  Under the
terms of the Rakgas Agreement, Rakgas will pay 37.5% of the costs of two wells
to be drilled this year on the Nyuni PSA up to an aggregate of US$15.4 million,
thereafter paying its 25% share of all costs in excess of US$15.4 million going
forward.  After the farm-out Ndovu Resources Ltd. will remain the largest
interest holder in the Nyuni PSA with an interest of 39%.  Other partners in the
Nyuni PSA are Key Petroleum (20%), East Africa Exploration Ltd. (10%) and Bounty
Oil (6%).  The Rakgas Agreement is conditional upon formal approval from the
Government of Tanzania.

The first of two wells on the Nyuni PSA is due to be spudded by the Caroil-6
land rig in June, drilling from a small island close to the Songo-Songo
producing gas field.  The precise location of the second well has yet to be
determined but will be drilled immediately following the first well.

Ras Al Khaimah is a member state of the United Arab Emirates and Rakgas was
established by decree of the Ruler in 1984.  In 2007 Rakgas was converted into a
limited liability company under the chairmanship of His Highness Sheikh Saud bin
Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah.  Rakgas has
other exploration and production efforts currently under way in Tanzania.



Brian Hall, Chief Executive commented:

"The Placing being arranged by Davy and Bridgewell will enable Aminex to move
forward rapidly with its exploration projects in East Africa and elsewhere,
commencing with the drilling of the first of two wells on the Nyuni East Songo
Songo Production Sharing Agreement offshore Tanzania, for which a rig has been
contracted.  The rig will become available as soon as it has finished drilling
its current well and is scheduled to commence drilling operations for Aminex in
June, 2007.

We are very pleased to have Rakgas participate in the Nyuni PSA at an exciting
moment when drilling is about to commence.  In a short time Rakgas has assembled
a team of highly experienced international oil and gas specialists and we will
very much welcome their input to this project and look forward to close
co-operation with them in the future."



Further Information

The Placing, which is not underwritten, is being arranged by Davy and
Bridgewell. The Placing is conditional on Davy, Bridgewell and the Company
entering into the Placing and Rights Issue Agreement which is expected to occur
shortly. In addition, the Placing is conditional on the execution of the warrant
instrument, shareholder approval, the Placing and Rights Issue Agreement
becoming unconditional in all respects as regards the Placing, and admission of
the Placing Shares to the official lists of the Irish Stock Exchange and the UK
Listing Authority and to trading on the main markets for listed securities of
the Irish Stock Exchange and the London Stock Exchange. The Placing is not
conditional upon the Rights Issue. The Rights Issue, which is not underwritten,
is conditional, inter alia, upon the Placing having become unconditional in all
respects. The New Warrants will not be listed.

An Extraordinary General Meeting ("EGM") of Aminex will be scheduled at which
shareholder approval for the Placing and the Rights Issue will be sought. It is
intended that a prospectus setting out the details of the Placing and Rights
Issue and convening the EGM will be posted to shareholders in due course.
Further announcements will be made by Aminex, including an announcement
detailing the expected timetable in connection with the Placing and the Rights
Issue, in due course.




For further information:

Aminex PLC
Brian Hall, Chief Executive                            Tel: [phone]

Davy
Eugenee Mulhern / Fergal Meegan                        Tel: [phone]

Bridgewell
Andrew Matharu                                         Tel: + 44 (0) 20 70033105

Pelham Public Relations
Archie Berens                                          Tel: [phone]



The contents of this announcement have been approved for the purposes of section
21(2) of the Financial Services and Markets Act 2000 of the United Kingdom by
Davy.

Davy Corporate Finance Limited and J&E Davy (collectively ''Davy'') (each of
which is regulated in Ireland by the Irish Financial Services Regulatory
Authority) and Bridgewell Limited (''Bridgewell'') (which is regulated in the UK
by the Financial Services Authority) are acting exclusively for Aminex in
connection with the requirements of the Irish Stock Exchange and the UK Listing
Authority and for no one else and will not be responsible to any other person
for providing the protection afforded to customers of Davy or Bridgewell nor for
providing advice in connection with this announcement.

Participation in the proposed Rights Issue will not be available to shareholders
resident in the United States, Australia, Canada, South Africa or Japan or any
other jurisdiction where it would be unlawful to offer participation.

This announcement does not constitute, or form part of, an offer of, or the
solicitation of any offer to subscribe for or buy, any of the Ordinary Shares or
Warrants to be issued or sold in connection with the Placing and/or Rights
Issue. Investors should not subscribe for or purchase any securities referred to
in this announcement except on the basis of information in the Prospectus to be
published by the Company in due course in connection with the Placing and Rights
Issue.

The offer of the Ordinary Shares and Warrants in certain jurisdictions may be
restricted by law and therefore potential investors should inform themselves
about and observe any such restrictions. This announcement is not for
publication or distribution, directly or indirectly, in or into the United
States. This announcement is for information only and does not constitute an
offer or invitation to acquire or dispose of Ordinary Shares or Warrants in the
United States. The Placing and Rights Issue will not be an offer of securities
for sale in the United States. Securities may not be offered or sold in the
United States absent registration or an exemption from registration. There will
be no public offering of Ordinary Shares or Warrants in the United States. The
Ordinary Shares and Warrants have not been and will not be registered under the
US Securities Act of 1933, as amended ('the Securities Act'), or with any
securities regulatory authority of any state or other jurisdiction of the United
States, and may not be offered or sold in the United States, except pursuant to
an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. There will be no public offer of Ordinary
Shares in Aminex in the United States.

Past performance is no guide to future performance and persons needing advice
should consult an independent financial adviser.

The distribution of this announcement may be restricted by law. No action has
been taken that would permit the possession or distribution of this announcement
in any jurisdiction where action for that purpose is required.


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