MARKETING OF US ASSETS FOR DIVESTITURE

RNS Number : 4179E

Aminex PLC

30 May 2012

 



MARKETING OF US ASSETS FOR DIVESTITURE

Aminex PLC ('Aminex' or the 'Company'), an independent oil company listed on the main market of the London and Irish Stock Exchanges with exploration and development assets in the emerging hydrocarbon province of East Africa, today announces that it has launched a marketing programme to sell its remaining assets in the United States.

Aminex plans to sell three producing properties: Alta Loma and Weslaco in Texas and Shoats Creek in Louisiana.  Aminex has retained Meagher Energy Advisors to market the properties and advise on the sale.   The Company is targeting completion of the divestiture by Q4.

Aminex Chief Executive Stuard Detmer commented:  "In its recent IMS Aminex reiterated its commitment to redirect resources towards high impact investments in Africa. Launching the process to sell the remainder of the Company's US assets is an important step in this direction and follows on from the successful sale of the Somerset Field in March of this year."

For further information:

Aminex PLC                                                          [phone]

Stuard Detmer - CEO

Meagher Energy Advisors

Jesse Murdock, VP Business Dev.        [phone] x230

M: Communications                           

Patrick d'Ancona                                                 [phone] or  [phone]

Chris McMahon                               [phone] or  [phone]

 

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