Successful Recompletion Of Texas Well

RNS Number : 9743F

Aminex PLC

05 May 2011

 



AMINEX PLC

SUCCESSFUL RECOMPLETION OF TEXAS WELL

Aminex PLC ('Aminex or the 'Company') announces that the Sunny Ernst-2 well at its Alta Loma property, Galveston County, Texas, has now been successfully recompleted in the 'S' Sands.

The Upper Andrau Sands, placed on production after a successful discovery in summer 2008, are now substantially depleted and have been plugged off.  A new completion has been made higher up the well bore in the 'S' Sands formation, where a 60 foot hydrocarbon-bearing interval was logged during the original exploration drilling.  This interval has now been successfully tested and is on limited production of 3.5 million cubic feet gas and 260 barrels condensate per day, pending the installation of upgraded production equipment which is due to be operational this month.  The flowing tubing pressure is constant at 8,700 pounds per square inch on a 5/64" choke. 

With full production facilities in place, production is likely to increase materially from the current restricted level in the near future and the increased production levels will be announced when available.

Aminex USA, Inc., a wholly-owned subsidiary of the Company, has a 37.5% interest in Sunny Ernst-2 which is operated by El Paso E&P, LP.

Aminex chairman Brian Hall commented:  "The recompletion of Sunny Ernst-2 will provide a substantial boost to production with immediate revenue benefits and at a low capital cost when compared to new drilling.  Unlocking value from the 'S' Sands, potentially more prolific than the Upper Andrau formation, has been an objective of the Company for some time, but commingling the 'S' Sands with the Upper Andrau Sands was not a technically viable option and so recompletion was delayed until the Upper Andrau was approaching the end of its economic life."

For further information please contact:

Aminex PLC                                        [phone]

Brian Hall

Chairman           

Pelham Bell Pottinger                   [phone] or [phone]

Archie Berens

 

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