Disposal of Madagascar Intere

RNS Number : 1866X

Aminex PLC

20 June 2008

 



20 JUNE 2008

AMINEX PLC

DISPOSAL OF INTEREST IN AMICOH RESOURCES LTD

Aminex PL ("Aminex"), the oil and gas company listed in London and Dublin, today announces that it has sold its shareholding in Amicoh Resources Ltd. to fellow shareholder Mocoh Resources Ltd. for a cash consideration of $250,000 and that as a consequence is no longer a participant in the Manja licence in Madagascar.

Aminex chairman Brian Hall commented:

"In Madagascar progress has been slower than anticipated and selling our interest at this time represents sensible management of our overall portfolio in the region. This will allow us to concentrate more of our available resources on other projects with a potentially more immediate impact. These include appraisal and commercialisation of our recent Kiliwani North discovery, exploration of the adjoining and newly-awarded Songo-Songo West permit and first drilling in the Ruvuma Basin, all in Tanzania. In Kenya we will progress work on Blocks L17 & 18, awarded late last year, while in Texas we anticipate spudding a significant new deep exploration well at Alta Loma in the next few days.  

We have benefited from excellent co-operation with OMNIS, the state oil and mining concern in Madagascar and wish the Manja project well in the future."

END

Further info:

Aminex PLC                        [phone]

Brian Hall - Chairman

Pelham Public Relations     [phone] or [phone]

Archie Berens

 

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DISURVRRWORNUAR