Aminex AEX - Fisher Lindsey - 9 SPUD - Technical Analysis

Monday, Mar 28 2011 by


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);

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

Filed Under: Oil, Spud, Growth Investing,


As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.

Do you like this Post?
5 thumbs up
3 thumbs down
Share this post with friends

Aminex PLC is a United Kingdom-based gas and oil production, development and exploration company. The Company focuses on its licenses in Tanzania, including Kiliwani North Field, Ruvuma and Nyuni area acreage. The Kiliwani North Field is independently ascribed with approximately 30 billion cubic feet (BCF) gross contingent resource and focuses on producing dry clean gas under high natural pressure (over 1,600 per square inch (psi)) from the Neocomian late Cretaceous reservoir. The Ruvuma acreage includes Ntorya-1 onshore Cretaceous gas discovery, which is independently ascribed with approximately 70 BCF gross contingent resource in the Ruvuma Basin. The Nyuni Area acreage offers high impact exploration and is ascribed with approximately 4.2 trillion cubic feet (TCF) prospective resource. It also holds royalty interest in Egypt. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

  Is Aminex fundamentally strong or weak? Find out More »

41 Posts on this Thread show/hide all

bankerbasher 7th Apr '11 22 of 41

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!

| Link | Share
Fangorn 7th Apr '11 23 of 41

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,

| Link | Share
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.

| Link | Share | 1 reply
thebuffoon 7th Apr '11 25 of 41

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.


| Link | Share | 2 replies
Fangorn 7th Apr '11 26 of 41

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



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)

| Link | Share
deucetoace 7th Apr '11 27 of 41

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.

| Link | Share
peterg 7th Apr '11 28 of 41

In reply to thebuffoon, post #25

Now it's Nyuni or they bust.

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


| Link | Share
kinkell 7th Apr '11 29 of 41


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?

| Link | Share
stepone 7th Apr '11 30 of 41


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.


| Link | Share | 1 reply
unlikely2 7th Apr '11 31 of 41


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.

| Link | Share | 2 replies
REO100 8th Apr '11 32 of 41

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.


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


| Link | Share
muckshifter 8th Apr '11 33 of 41

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.

| Link | Share
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?

| Link | Share
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.

| Link | Share
unlikely2 8th Apr '11 36 of 41

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.

| Link | Share
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 !

| Link | Share
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...

Aminex (LON:AEX)

| Link | Share
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;

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

| Link | Share
Althor 16th Apr '11 40 of 41

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!

| Link | Share
flyingswan 19th Apr '11 41 of 41

Fisher Lindsey - Where does the Rig Go Now?


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:



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?

| Link | Share

What's your view on this thread? Log In to Comment Now

You can track all @StockoChat comments via Twitter

 Are Aminex's fundamentals sound as an investment? Find out More »

Stock Picking Tutorial Centre

Related Content
Malcys Oil Report  BLVN AEX
Malcy's Oil Report - BLVN, AEX
Bowleven 19th Nov '15

Malcys Oil Report  IAE AEX TPL
Malcy's Oil Report - IAE, AEX, TPL
Ithaca Energy Inc 5th Oct '15

Video ETO H1 analyst presentation
Video: ETO H1 analyst presentation
Entertainment One 3:24pm

Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis