Offshore staff

DUBLIN, Ireland –Aminex Plc. has signed a production sharing contract with Kenya covering two near-shore blocks, L17 and L18, totaling almost 5,000 sq km (1,931 sq mi). This is the first time Kenya has converted a technical evaluation agreement into a PSC.

Aminex and partners previously held an evaluation agreement over the area and have acquired 2D marine seismic and conducted seabed coring.

The PSC tenure is seven years and contains an obligation to acquire seismic data with the first two years. The area is mostly offshore, but does extend onto land.

Aminex is the operator with 25%, Somken Ltd. holds 35%, and East African Exploration Ltd. holds 40%.

10/26/2007