South Weslaco Gas Unit Sale

RNS Number : 5841M

Aminex PLC

28 August 2013

 



28 August 2013

SOUTH WESLACO GAS UNIT SALE

Aminex PLC ('Aminex' or the 'Company') is pleased to announce that it has reached agreement with Northcote Energy Ltd. (Aim: NCT), ('Northcote'), a publicly-traded oil and gas company, for the sale of its 25% interest in certain producing gas wells at the South Weslaco Field, Hidalgo County, Texas.   Based on market prices at the time of the initial agreement, the consideration will be approximately US$450,000 which will be settled by a combination of cash and the issue to the Company of new shares in Northcote.  The effective date for the sale will be 1 September 2013. 

South Weslaco is the smallest of Aminex's US properties and is not operated by Aminex. 

Aminex Chairman, Brian Hall commented: 

"The sale of this gas producing interest is the second in a divestment programme previously announced and follows our declared strategy for our US assets."

For further information:

Aminex PLC                         [phone]

Brian Hall, Chairman

Max Williams, Chief Financial Officer

FTI Consulting  

Edward Westropp           [phone]

Georgia Mann

 

END

 

 

AGRKMGZRVNZGFZM