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Aminex encouraged by Texas well drilling

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    Date: Thursday 21 Aug 2008

    LONDON (ShareCast) - Oil and gas company Aminex said drilling on its Sunny Erst-2 (SE-2) well in Texas has reached its planned total depth on time and within budget.

    Several potential gas-bearing formations were found in the well, which was drilled to a total depth of 14,917 feet.

    Drilling on the well has now been suspended while a completion programme is drawn up to optimise the gas bearing intervals.

    “We are very encouraged by the logs we have now seen from SE-2 which should add valuable reserves and production to our portfolio in the US,” said Aminex’s chairman, Brian Hall.

    “We look forward to production-testing this well as soon as possible,” Hall added.

    Aminex has a 37.5% working interest in the SE-2 well in partnership with El Paso Corporation (25%), Activa Resources (25%) and McFuel Corporation (12.5%).

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