April 01, 2009Aminex Changes Tack To Sail In Safer Waters To...

April 01, 2009

Aminex Changes Tack To Sail In Safer Waters To Weather The Current Storm


The long term value in the Aminex portfolio lies in Tanzania, where the London and Dublin listed firm was an early mover, securing a promising footprint in the emerging East African coastal margin play. But these challenging times are forcing many companies to take a more short term approach: tomorrow’s jam has been shelved as the focus is all about today’s bread and butter.
And when it comes to Aminex, that bread and butter lies in the US where the company has interests in a number of oil and gas fields in Texas and Louisiana. Unlike the company’s Nyuni, Songo Songo West and Ruvuma licences in Tanzania, the US assets are not company-makers but they do provide income from oil and gas production to ensure survival through these troubled times. Accordingly, the company plans to change tack – a sailing analogy seems appropriate given chairman Brian Hall’s enthusiasm for the sport – and sail towards the safe harbour of oil and gas production in the US.

Re: Oil Barrel.com

Chass