Aminex sells US assets to Northcote Energy
9th May 2014 11:15
Oil and gas developer Aminex announced it has reached an agreement with AIM-listed gas company Northcote Energy and Springer Oil and Gas for the sale of Aminex USA for 5m pounds. The $5m comprises $150,000 in cash, $350,000 of Northcote shares and a production payment of $10 per barrel until a tota
Read moreAminex posts full-year loss hit by impairment and accounting charges
23rd Apr 2014 13:37
Shares in oil and gas developer Aminex tanked on Wednesday after the firm posted a loss for 2013 of 17.3m dollars. The firm explained that the loss (2012: $5.3m) included two significant factors, namely a $9.3m impairment of its US assets as well as an accounting charge of $4.4m relating to the wo
Read moreAminex carries out multiple board changes
14th Mar 2014 08:35
East African focused oil group Aminex has unveiled a number of senior board changes which are to take effect immediately. The group has named Jay Bhattacherjee, Chief Executive Officer, and Phillip Thompson, Chief Operations Officer, to the board. The new appointments come after the acquisition of
Read moreSports Direct non-exec sells over half his stake
25th Feb 2014 15:48
Simon Bentley, a Non-Executive Director at Sports Direct International, on Tuesday sold 15,000 shares in the FTSE 100-listed retailer, reducing his stake to just 10,000. The director, who sold the shares for 792.50p a piece, was able to benefit from the recent strong rise in the group's share pric
Read moreAminex announces placing and open offer
30th Jan 2014 12:50
Oil and gas explorer Aminex has placed 800m shares at 1p each to generate funds for the acceleration of its seismic programme on its Ntorya-1 discovery and to pay certain creditors. The group raised £8m before expenses via the placing, and a further £2m through a one for four open offer of around
Read moreNorthcote acquires interest in producing leases from Aminex
28th Aug 2013 10:42
Northcote Energy, an onshore US oil and gas exploration and production company, has signed an agreement with Aminex to acquire a 25 per cent working interest in a number of producing leases at the South Field in Texas. Oil and gas producer Aminex will be paid in the region of $0.45m dollars, which
Read moreAminex deal delays pile pressure on finances
20th May 2013 09:24
Oil and gas explorer Aminex has yet to secure a long-awaited buyer for its US assets nor a farm-out partner for its major projects in Tanzania. The lack of a deal has put pressure on the company's finances, with the refinancing of a short-term loan required soon. However, one of the the three p
Read moreAminex extends bidding period for Ruvuma Basin farm-out
29th Jan 2013 08:50
Aminex, an exploration company focused on East Africa, said Tuesday that it has extended the bidding period for its proposed farm-out of an interest in the onshore Ruvuma Basin, Tanzania, where it made a discovery of natural gas and condensate in 2012. The extension was made at the request of seve
Read moreAminex falls as chief executive departs
22nd Jan 2013 08:31
Aminex, an exploration company focused on East Africa, fell on Tuesday after the firm said its Chief Executive was to leave immediately. The firm said Stuard Detmer was also stepping down as a director of the company "to pursue other business interests" with immediate effect. Chairman Brian Hall w
Read moreAminex shakes hands on an 8.0m dollar loan facility
17th Jan 2013 13:53
Aminex, an exploration company focused on East Africa, has agreed an eight million dollar loan facility with a fund manager by Argo Capital Management, with which the company has had a long standing relationship. The loan, which carried a 12.5% coupon (rising to 15% per cent from July 1st 2013), h
Read moreSolo puts Tanzania assets on the table
22nd Nov 2012 11:12
Solo Oil has begun marketing the farm-out of its oil and gas assets in the Ruvuma Basin of Tanzania in collaboration with Aminex. It is offering firms up to 50% interest in the licences in return for any "financially robust partner" funding a disproportionate share of the planned forward work prog
Read moreAminex falls as US sale plans delayed further
19th Nov 2012 09:41
Aminex, an exploration company focused on East Africa, fell after it said a planned sale of its US assets had slipped back into 2013. The firm also said talks over a $15m loan, repayable from the proceeds of the sale of the US assets, were ongoing and were expected to be concluded "in the near futu
Read moreAminex Tanzania estimates quadruple
2nd Jul 2012 11:32
Aminex, the oil and gas explorer has issued a big upgrade of the resources at the Ruvuma and Nyuni Area Licences in Tanzania. A new study of the area has come back with a total "undiscovered" estimate of 5.75 trillion cubic feet (TCF) in place at Ruvuma and of 5.67 trillion cubic feet of gas in pl
Read moreAminex comes up trumps in Tanzania
28th Jun 2012 11:40
Aminex, an exploration company focused on East Africa, has announced a successful test of its gas discovery in southern Tanzania. The work on the Ntorya-1 well showed gas flowing at a maximum rate of 20.1m standard cubic feet per day (the equivalent of 3,350 barrels of oil per day). Aminex's Chief
Read moreSolo Oil and Aminex leap on Ruvuma Basin update
28th Jun 2012 08:26
Shares in Solo Oil and Aminex jumped on Thursday morning after the companies announced signficant results from the flow testing of the Ntorya-1 well at its discovery in the Ruvuma Basin onshore in southern Tanzania. The firms reported that the well flowed gas at a measured rate of 20.1m cubic feet
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