Aminex Farms Out Stake in Tanzania License



Aminex PLC said that its farm-out of a 20% interest in the Nyuni / East Songo Songo license in Tanzania to Key Petroleum Ltd., announced to shareholders on 5 February 2007, has been finalized. The two outstanding conditions of the farm-out, being (1) completion of an underwriting agreement for a proposed financing by Key and (2) formal consent from the Government of Tanzania, have now been met.

Aminex also announces that East Africa Exploration has now completed its obligations under a seismic program on the Nyuni / East Songo Songo PSA at a cost of $2 million and has now earned a 10% working interest in the PSA.

Interest owners are:

--Ndovu Resources Ltd. (Aminex subsidiary), 64%
--Bounty Oil, 6%
--Key Petroleum, 20%
--East Africa Exploration, 10%

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