Aminex PLC
21 December 2007
AMINEX PLC
NEW DRILLING IN TEXAS
21 December 2007
Aminex PLC, the oil and gas company listed in London and Dublin, announces the
commencement of drilling of GU #38, its fourth development well in the South
Weslaco Field, Hidalgo County, Texas. A rig operated by the Edde Drilling
Company has been contracted on a turnkey basis to drill the new well to a depth
of 11,000 feet (3,352 metres) and is moving on to location this weekend. The
drilling objectives are the Frio sands deeper than 10,000 feet (3,048 metres)
which were not tested by the previous deep well, GU #37. Estimated drilling
time is 25-30 days.
The GU#37 was completed and tested in September at a rate in excess of 2.5 mm
cubic feet/day after a successful fracture stimulation in the 9,500 feet (2,895
metre) Frio sands.
Aminex has already participated in three wells at South Weslaco as part of an
ongoing multi-well development drilling programme which commenced in 2005. The
initial wells, GU#35 and GU#36, were both drilled to a total depth of
approximately 9,000 feet (2,743 metres) and the subsequent GU#37 was the first
in the programme to test the deeper Frio sands. In all cases logs encountered
commercial quantities of gas in multiple formations and all three existing wells
are on production.
The joint venture partners have now discovered gas reserves in excess of 20
billion cubic feet in the South Weslaco field. Aminex has a 25% WI in the new
well which is being operated by Kaler Energy. Partner interests are: Stalker
energy 49%, Activa Resources 25% and Kaler Energy 1%.
For further information:
Brian Hall Aminex +44 (0) 20 7291 3100
Archie Berens Pelham PR +44 (0) 20 7743 6670
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.