Aminex Wins Nod for Placing and Rights Issue
The Board of Aminex announced that the resolution to approve the Placing and Rights Issue, announced on 15 May 2007, was passed at an extraordinary general meeting of the Company Wednesday in Dublin.
Provisional Allotment Letters will be despatched tomorrow to Qualifying Non-Crest Shareholders in accordance with the timetable as announced on 23 May 2007.
Application has been made to the Irish Stock Exchange Limited and to the London Stock Exchange plc for the Placing Shares (55,882,500) and the Rights Issue Shares (up to 28,163,066) to be admitted to the Official List of the Irish Stock Exchange and the Official List maintained by the UK Listing Authority and to the Irish Stock Exchange and the London Stock Exchange for admission of the Placing Shares and the Rights Issue Shares to trading. It is expected that admission will become effective and that dealings in the Placing Shares and in the Rights Issue Shares, nil paid, will commence at 8 a.m. on 21 June 2007.
Aminex's Chief Executive, Brian Hall said:
"Aminex is now well placed and funded to exploit its license areas particularly on the East African margin. We can look forward to the generation of exciting newsflow in the coming months as we commence our 2007 program. We are very pleased that both existing and new institutional shareholders have supported this equity placing.
"On 18 June we announced that there would be a delay in the delivery of the Caroil-6 rig to the Nyuni joint venture in Tanzania due to essential mechanical repairs to the rig. Naturally this is disappointing but at least we can expect that the rig will be in good order at the time of delivery to us. The delay is likely to be several weeks and when it is delivered to us we expect to be ready to start work with all support services in place.
"Elsewhere in the region, we have now signed a Heads of Agreement with the Kenyan Ministry of Energy for a Production Sharing Agreement over near-shore blocks L17 and L18, close to Mombassa and adjacent to the Tanzanian border.
"In Madagascar our joint venture Amicoh Resources has signed a contract with BGP of China to acquire 500 km of 2D land seismic over the Manja area, onshore Block 3108, with a likely start date in July. We have 50% of Amicoh Resources where our partner is Mocoh Resources Ltd.
"We have also contracted BGP to acquire approximately 400 line kms of new 2D seismic data over our Ruvuma license in southern Tanzania, close to the border with Mozambique. We have 50% of this joint venture where our partner is Tullow Oil.
"In Egypt preparations for drilling on the West esh el Mellahah permit are ongoing and the first of three wells is due to be spudded in September or October. Aminex has 10% in this concession and is free-carried until commercial discovery. Partners are First Energy, Sinopex, FS International Corporation and Groundstar Resources Ltd ."
- Aminex Secures Rig to Drill Ntorya-2 Well in Tanzania's Ruvuma Basin (Sep 26)
- Kiliwani North-1 Well Flows at 5,000 Boepd (Jul 04)
- Aminex: First Gas Production from Kiliwani North Field in Tanzania (Apr 06)