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Aminex prepares to spud South Malak-2 exploration well onshore Egypt

23rd September 2014

Aminex has been advised by the operator of the West Esh el Mellaha Production Sharing Contract (WEEM-2 PSC), onshore Gulf of Suez, Egypt that the South Malak-2 exploration well will spud imminently

Aminex prepares to spud South Malak-2 exploration well onshore Egypt
South Malak-2 is targeting the prolific Nubia and Matulla sandstones

“As a carried interest partner, the imminent spudding of the South Malak 2 well and further drilling of Wadi Kofra 1 are a positive step in moving the WEEM 2 PSC forward,” said Jay Bhattacherjee, Aminex chief executive officer. “The focus remains on Tanzania where the GSA is awaiting final completion and production is expected in H1 2015.”

South Malak-2 is targeting the prolific Nubia and Matulla sandstones.

The company has also been informed that a second location has been chosen, designated as Wadi Kofra-1. This further well will target the same formations and drilling is expected to begin in late 2014.

The WEEM 2 PSC is directly west of Lukoil's WEEM 1 PSC which is producing from the same formations being targeted by South Malak-2 and Wadi Kofra-1.

Aminex has an effective carried interest of 10 per cent in these wells through its 12.5 per cent shareholding in an associated company, Aminex Petroleum Egypt (APEL).

APEL holds 80 per cent of the WEEM-2 PSC and other shareholders in APEL bear the company’s share of exploration through to first commercial discovery of oil and gas.

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