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Aminex Spuds Second WEEM Well in Egypt

Source: www.oilegypt.com 4/29/2008, Location: Africa

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Aminex announced the spudding of the second exploration well in its drilling programme on the West Esh El Mellaha (“WEEM-2”) concession in the onshore Gulf of Suez region, Egypt. The well is located on the NW Tanan prospect and will be drilled to a proposed total depth of 2,620 metres (8,600 feet). This prospect is on trend with the Tanan-1 oil well, 3.1 kilometres to the south east in the adjacent Lukoil-owned block operated by Eshpetco.

The well is being drilled on a seismically-defined tilted fault block. The objective horizons include the Nukhul, Matulla and Nubian sands.

Aminex has a 10% beneficial interest in the WEEM-2 block, free carried by other partners through to first commercial production. The well is operated by an associated company, Aminex Petroleum Egypt Ltd. and is expected to reach total depth in 25 days.

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