Aminex AEX - Fisher Lindsey - 9 SPUD - Technical Analysis

Monday, Mar 28 2011 by
2

FISHER-LINDSEY 9 Is now SPUD

03/28/2011 05 10560 DROVE 16" T/ 153'; SPUD 3/20/11; DRLD T/ 3625'; RAN 10-3/4" CSG T/ 3625' & CMT W/ 385 SXS; TSTD CSG; DRLD T/ 10560'; TSTD BOPS 3/23/11; (BOP INFO: HYDRIL GK, 11", 5000 PSI, & CAMERON TYPE U, 11" X 4.5, 10000 PSI);

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=242664

If Aminex (LON:AEX) is a partner in this well, we may get an RNS tomorrow. IMHO


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Aminex PLC is engaged in the exploration for, and the development and production of oil and gas reserves. Its principal area of activities includes the United States, East Africa, North Africa and North Korea. Its segments include Producing Oil and Gas Properties, Exploration Activities and Oilfield Services and Supplies. The Company's licenses in Tanzania include Nyuni PSA, Kiliwani North and Ruvuma PSA. During the year ended December 31, 2010, it drilled three wells, one in Tanzania and two in the United States. As of December 31, 2010, the Company held leases at Shoats Creek covering approximately 2,100 acres. Aminex Oilfield Services & Supply Company (AMOSSCO), its wholly owned subsidiary, provides logistics services to oil industry and sources oilfield equipment and consumables to international oil companies. In October 2013, Aminex Plc announced the sale of its producing gas wells at the South Weslaco Field, Hidalgo County, Texas to Northcote Energy PLC. more »

Share Price (Full)
1.4p
Change
-0.0  -1.1%
P/E (fwd)
n/a
Yield (fwd)
n/a
Mkt Cap (£m)
25.9



  Is Aminex fundamentally strong or weak? Find out More »


41 Posts on this Thread show/hide all

bankerbasher 7th Apr '11 22 of 41
2

In reply to Fangorn, post #21

"Well hopefully he can nudge it up further imv.Along with AST this has been my worst Oil investment over the last few years"

You are not alone! Look at the twenty year chart on this thread........Absoloute dog....and with the same management on six figure salaries all the way.

"Am personally looking for an exit on any SP strength - You'll be pleased to hear that DJP!"

Yeah you and just about every other AEX investor is looking to exit over the comming months. Should be good for the share price then...........Not!

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Fangorn 7th Apr '11 23 of 41
2

True BB.

It all depends on our relative "exit" levels! I'm happy to breakeven personally , if and when the stock price reaches that level. Four to five years of holding this duffer is enough for me. There are plenty of better opportunities to invest in, namely more GBP, More EO, some SLE,Amerisur, NOP and BPC,

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unlikely2 7th Apr '11 24 of 41

Be nice here when the whingers bugg*r off. Left will be those who can see the potential, and have a time horizon longer than til the next adverts break.

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thebuffoon 7th Apr '11 25 of 41
5

In reply to unlikely2, post #24

Be nice here when the whingers bugg*r off. Left will be those who can see the potential, and have a time horizon longer than til the next adverts break.

You are obviously relatively new to AEX.  

Time horizon?  It's more like an epoch since this company did anything positive.

It's the management that went into North Korea, it's the management that found gas and then couldn't monetise it.  They are paid to make good decisions.  They haven't.  Now it's Nyuni or they bust.

They've done alright out of Aminex though.

Buffy

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Fangorn 7th Apr '11 26 of 41
3

I've been in this stock for 5 years Unlikely2. I think my time horizon is a tad longer than yours!

How long is your time horizon then?

And it's been very much as buffy say bar one exception - he forgot Dilution

Dilution

Dilution

But then if you'd been invested in this stock the last four or so years you'd know why there are many disgruntled shareholders(aka whingers in your view)

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deucetoace 7th Apr '11 27 of 41
2

But the more astute investors (not I) have gone in for every rights issue, sold out within , I'd guess without looking, 6-9 months and done very well. It's only the longer term investors that have made no money out of it.

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peterg 7th Apr '11 28 of 41
1

In reply to thebuffoon, post #25

Now it's Nyuni or they bust.

What about Kiliwani-N and Ruvuma-2 to name 2 others?

Peter

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kinkell 7th Apr '11 29 of 41
2

Buffy,

I cannot understand why you are complaining about North Korea. There is no serious investment there and the company is not spending time on it either at present. But they have secured an option for 15/16 years on highly prospective acreage. Politics obviously means there is no value attaching at present. But if you are suggesting that the current regime will last for the rest of the licence period I would think that is very unlikely. What happens if the regime changes we do know. But the acreage could become very valuable. I don't know about you but I don't turn down free options that may prove valuable.

What's the beef?

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stepone 7th Apr '11 30 of 41
5

Fangorn,

Waiting for 'breakeven' is a terrible reason to hold a share. If you wouldn't buy it now, then you should sell it and buy something else.

Cheers,
StepOne

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unlikely2 7th Apr '11 31 of 41
5

Fangorn:-

First tempted into Aminex in 2005, have been adding every since. Average price probably around 15p. Holding between myself and partner now well into 7 figures, mostly in ISA's. My time horizon? I intend to retire in around 10 years, be quite content if either this or GKP, the other speculative oily in my portfolio, come good by then. To date GKP, which I bought into at 11p, is well ahead as regards returns, but from here I expect Aminex to outperform.

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REO100 8th Apr '11 32 of 41
7

In reply to unlikely2, post #31

Very similar position to yourself except EO. was my speculative oily instead of GKP.  I struggle to understand why some feel it is necessary that they need to keep telling everyone that they will sell as soon as they have the opportunity.  I obviously wish them well, but perhaps once they have announced their plans stick to just that and if the opportunity arises they move on quietly.

Lastly if that opportunity arises, perhaps those desperate for the door should ask why it it is rising as potential investors might be seeing the potential actually taking place.

Reo

PS Whilst different circumstances there were many critical of EO. when the SP was 8p, wonder where they are now ?

 

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muckshifter 8th Apr '11 33 of 41
3

Absolutely agree with you on North Korea, Kinkell. From memory this deal was originally announced early in Bush's presidency. It had almost certainly been the result of a long period of cooperation between Aminex and the North Koreans during Bill Clinton's presidency, during which he looked like successfully bringing NK in from the cold, ie. it would have been a tremendous coup for a small company if Al Gore had won the election.

But the Americans elected a cretin, so how could Aminex then predict that he would reverse peace moves and start wars all over the place. In the end, IIRC, he started his diatribe against NK after Aminex had signed the deal, so the chances of success had clearly decreased by the time of the signing, but I doubt if any sensible person expected what came.
Regards.

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Fangorn 8th Apr '11 34 of 41

In reply to stepone, post #30

Hi Step,

I, like many others I'd wager, have a core holding underwater, and have also "traded" the rights issues, taking up my rights then knocking them out at a profit as and when price movements allowed. It is the long term element that I'm looking to get shot of - and the next six months are potentially exciting and, i hope, will offer me the chance to finally get rid of the core holding.

No point selling out with the newsflow that could, potentially, turn it all around now is there?

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Fangorn 8th Apr '11 35 of 41

In reply to unlikely2, post #31

I hope you're right Unlikely2 because that's an awfully large holding you have in such an under performing Oilie.

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unlikely2 8th Apr '11 36 of 41
2

I would have to agree with that comment Fangorn, but fortunately still a relatively small part of the whole. Satisfies the gambling instinct, would not be fatal if it turns to dust. At the other extreme, success with either or both of the 2 tanzanian wells this year, and the retirement yacht could be in an altogether different class.

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Fangorn 8th Apr '11 37 of 41

haha that is very true. A bit of gambling is always fun,particularly if the potential is massive. And it seems that outside of this you, like myself, are well provisioned elsewhere with more stable investments.

Hope it comes off for you. A comfortable retirement sounds extremely attractive.One that many will never see due to the misfortune of not securing enough readies throughout their lives. Wish you well.

p.s When you pull it off we expect a BBQ invite !

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flyingswan 8th Apr '11 38 of 41

7 Potential Doublers - Revised:

...Aminex AEX
Shares in the oil company Aminex (LSE: AEX) have been up a bit, then back down to where they were in November despite a £26m fundraising.
Aminex, one of the most talked about shares on the Fool's discussion boards, remains an exciting investment for various reasons -- most notably for its upcoming Nyuni-2 well in Tanzania, in which the company now has an increased 65% interest...


http://www.fool.co.uk/news/investing/2011/04/08/7-potential-doublers-revisited.aspx

Aminex (LON:AEX)

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flyingswan 11th Apr '11 39 of 41

Only another 850 feet to go to get to terminal Depth TD of 15221ft for Fisher-Lindsey 9:

04/11/2011 05 14371 DRLG;

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=242664

Should be completed by next week?

If this is the Aminex (LON:AEX) joint venture well with El Paso at Shoats Creek, this could be very good news, if they hit a gusher. IMHO

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Althor 16th Apr '11 40 of 41
1

Bought my first Aminex in 06 alongside Petrofac! One came in and one I'm still anticipating. No prizes for guessing which is which. With AEX you learn patience!

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flyingswan 19th Apr '11 41 of 41
1

Fisher Lindsey - Where does the Rig Go Now?

04/18/2011 05 15646 DRLD T/ 15221', DIR DRLD T/ 15646'; LOGGED - UNABLE TO GO BELOW 13545', TOOL FAILED; SECOND LOG RUN UNABLE TO GO BELOW 13520'; LOGGED OUT; PREP TO RUN PROD CSG;

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=242664

I noted that Olympia Minerals 10 Completed at 12410, so should be completed as a production well.

I noted also that there are now two additional step out wells listed, which Aminex AEX may be partners with El Paso:

FISHER-LINDSEY 9 002-ALT
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=242982

OLYMPIA MIN LLC 10 002-ALT
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=243065

Any views on what affect all these additional well will have on Aminex (LON:AEX) share price in 12 months time, when they are all on production?

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