Successful Gas Well at South

RNS Number : 1252M

Aminex PLC

23 January 2009

 



23 January 2009

AMINEX PLC

("Aminex" or the "Company")

SUCCESSFUL GAS WELL AT SOUTH WESLACO, TEXAS

Aminex, the oil and gas company listed in London and Dublin reports a successful drilling result on the SW-39 well at South Weslaco, Hidalgo County, Texas.

SW-39 was spudded in December 2008 using the Pioneer Drilling Rig no.15. and has now achieved  planned total depth of 8,750 feet (2,667 metres) in the Frio formation targeting principally the "American" and "Turner" sands.

Logs indicate approximate net pay in excess of 60 feet (18 metres) in several gas-bearing sands with the potential of up to 90 feet (27 metres) in total. A completion string has been run and the well will be perforated and production-tested once pipeline access has been finalised.

Aminex USA, Inc., a wholly-owned subsidiary of the Company, holds a 25% interest in this well. Partners are Stalker Energy (49%), Activa Resources (25%) and Kaler Energy (operator of the well) (1%).

SW-39 is the fifth well in the current programme and the first four are all on commercial production.

Aminex chairman Brian Hall commented: "This is a very satisfactory result and a good start to our 2009 programme.  SW-39 will be flow-tested and tied into the existing production facilities as soon as possible. The tight nature of the sands at South Weslaco means that fracture treatment cannot be ruled out in order to maximise production, as previously carried out successfully at SW-38."

For further information:

Brian Hall              Aminex            [phone]

Archie Berens        Pelham PR      [phone]

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