Aminex Plc · LSE:AEX
Aminex — Oil Barrel Conference 2006
25 slides from Aminex's conference presentation, May 11, 2006
Slide 1: Aminex Plc – Leveraged for Growth
AMINEX PLC LEVERAGED FOR GROWTH Oil Barrel Conference London, Thursday 11th May, 2006
Slide 2: Aminex Plc at a Glance
AMINEX PLC AT A GLANCE • Fully-listed oil exploration and production company with market cap of over £70 million • 15 year track record of operating internationally • Current operations in Africa, North Korea and USA • Strategic portfolio designed to provide greatest leverage for growth in under-exp
Slide 3: Areas of Operation
AMINEX PLC North Korea Large basins in undeveloped United States of America Egypt petroleum province Production in Under-explored area of a proven Texas and Louisiana petroleum province Kenya Tanzania Seismic Option High impact exploration Madagascar High impact exploration – on trend with East Afri
Slide 4: Focus Areas
FOCUS AREAS A Trail Blazer on the East African Margin • Only company to have interests in TANZANIA, MADAGASCAR and KENYA with combined gross licences of 29,000km2 • First company to have drilled offshore on the East African margin for 12 years, well before the current rush of industry activity, and
Slide 5: East Africa – a surge in exploration activity
EAST AFRICA – a surge in exploration activity TEA, coastal Current/recent activity in East Africa: portion of former blocks • Woodside to drill in deep water Kenya in 2006 L9 & L10, (Kenya) • Petrobras - in both Tanzania & Mozambique Nyuni PSA • Maurel & Prom to drill onshore Tanzania, 2006 Ruvuma P
Slide 6: Tanzania, Nyuni – Current
TANZANIA, NYUNI - Current • 660 kilometres new 2D shallow marine seismic acquired in 2005 • Numerous leads identified with multi-million barrels potential • Recent farmouts to East Coast Energy and East African Exploration • Block ownership / earn-in: Aminex 74% - 34% Bounty 6% East Coast Energy 10%
Slide 7: Tanzania, Nyuni – Current
TANZANIA, NYUNI - Current • Numerous leads are recognised from the new (late 2005) and existing 2D seismic data • Additional transition zone seismic is required
Slide 8: Nyuni – the way forward
NYUNI – the way forward Transition zone seismic in summer 2006 • Transition Zone 2D seismic to be acquired summer 2006 • 3D seismic in late summer over best prospects • Objective - firm up drilling locations for 2007 Provisional Nyuni 2D Transition Zone Seismic Program 2006 Shot Point Receiver State
Slide 9: Tanzania, Ruvuma Basin – Current
TANZANIA, RUVUMA BASIN - Current • Production Sharing Agreements with Tanzanian Government - 29 October 2005, covering 12,000 km2 • 334 km New 2D seismic acquired November 2005 • Farmout out to Hardman Resources (March 06) brings a strong industry partner for the next phase of a large and significan
Slide 10: Ruvuma – the way forward
RUVUMA – the way forward 2006 – Seismic acquisition • Hardman Resources to finance further seismic in 2006 • Seismic will establish drillable prospects from existing leads 2007 – Exploration Wells • Explorations wells to be drilled 2007 • Several leads in excess of 100 million barrels
Slide 11: Madagascar – Block 3108
MADAGASCAR – BLOCK 3108 2005 immature?, TOC 1.5-2.0% mean, max. • Production Sharing Agreement with Government - 10.9%, anticlinal trend S2 0.56-41.15kg/t, October 2005 HI typically 15-200, max. 300-400. • 50/50 joint venture company with with Mocoh WNW MAN-1 (1957, TD2670m) ESE no details on Ilovo
Slide 12: Kenya
KENYA TEA, coastal • March 2006 – Participation Agreement with UPSL portion of former for 25% of offshore Kenya venture. blocks L9 & L10 • 5,000 km2 near shore permit within Blocks L9 & L10 in relatively shallow water Nyuni PSA • Technical Evaluation Agreement likely to be (Tanzania) converted to PS
Slide 13: An East African Portfolio
AN EAST AFRICAN PORTFOLIO • In the last year Aminex has successfully Former L9 & L10 TEA used its knowledge base and experience (Kenya) in Tanzania to expand its activities into two new countries in the East African region, partly financing exploration through farm-outs and new joint venture Manja P
Slide 14: Egypt
EGYPT • Aminex is a founding shareholder in Aminex Petroleum (Egypt) Limited and in late 2005 was awarded the onshore West Esh El Mellaha Block 2, of 1,300km2 area in the Eastern LEAD 1 LEAD 2 Desert/West flank of the Gulf of Suez rift basin • The Block is under-explored yet adjacent to LEAD 6 prove
Slide 15: North Korea
NORTH KOREA 2005 – Steady Progress • Signed PSA August 2005 for all prospective basins, onshore and offshore. • Geological data review and study underway • Commenced reprocessing of existing seismic • Progress slow but activity positive. 2006/7 – Consolidation – move towards drilling • Complete repr
Slide 16: North Korea – West Sea
NORTH KOREA – WEST SEA • Of 13 wells drilled, all in the 1980’s, all recorded shows of oil and/or gas, with 2 testing oil at rates equivalent to as much as 350 bopd. • The West Sea Basin is believed analogous to the adjacent and prolific Bohai Bay Basin of China • The Chinese/North Korea demarcation
Slide 17: North Korea – East Sea
NORTH KOREA – EAST SEA • Two wells were drilled between 1989 and 1991, both recording shows of oil and gas. Neither well was successfully tested • The East Sea bears comparison with Russia’s prolific Sakhalin Basin to the Untested highs North • Large structures were mapped in the 1990’s by Beach Pet
Slide 18: North Korea – Onshore Basins
NORTH KOREA – ONSHORE BASINS • Although the surface geology has been extensively mapped, and there are coal Natural slick of crude oil mines in the Pyongyang and Anju Basins, the petroleum potential of the Pyongyang and Zaeryong onshore basins is poorly known. • The Zaeryong Basin in the South has r
Slide 19: USA
USA Time Slice from 3D Seismic • Aminex has participated in more than 50 wells in 3.468 Seconds the past 10 years, operating two thirds of them • Numerous accomplishments include innovative radial 3D seismic programme around complex salt dome structure and development of a gas field in a navigable s
Slide 20: The Past 12 Months – a year of activity
THE PAST 12 MONTHS – a year of activity, moving ahead and on target TANZANIA • Two Production Sharing Agreements completed for the 12,000 km2 Ruvuma Basin • Over 1,000 km new 2D seismic acquired over Nyuni & Ruvuma with new leads and prospects identified • Three farmouts finalised, two at Nyuni and
Slide 21: 12 Month Share Price
12 MONTH SHARE PRICE AMINEX as of 3-May-2006 50 40 30 20 ./ Jul0S Sep (NWO Jano6 Maro6 Copyright 2005 Yahoo! Inc. 7 ED aminex PLC wt alba Ai ll il a ada l e http://finance .yahoo.com/
Slide 22: The Next 18 Months – High Impact Exploration
THE NEXT 18 MONTHS – HIGH IMPACT EXPLORATION • State of the art new seismic to be acquired to firm up drilling locations Tanzania Nyuni – Transition Zone 2D seismic Tanzania Nyuni – Transition Zone 3D seismic Tanzania Ruvuma –2D seismic Madagascar – 2D seismic N. Korea – 2D seismic Egypt – 2D (possi
Slide 23: Provisional Exploration Programme 2006/2007
PROVISIONAL EXPLORATION PROGRAMME 2006/2007 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 TANZANIA Transition zone sesimic at Nyuni t-z sesimic (2D+3D) Drill 2 wells at Nyuni 2 wells Onshore seismic at Ruvuma onshore seismic Drill 2 wells at Ruvuma, 1 firm/1 provisional 2 wells MADAGASCAR Data reprocess
Slide 24: Summary
SUMMARY • In a strong market dominated by major international oil companies, Aminex is exploiting “first mover advantage” and building a high class exploration inventory in promising frontier areas • Aggressive high impact exploration programme under way • 4-10 exploration wells planned • Exploratio
Slide 25: Aminex has a history of getting in on the ground floor
AMINEX PLC “Aminex has a history of getting in on the ground floor, giving it first mover advantage in what it hopes will be the next industry hot spot” Oil Barrel, 22 March 2006