New Well Commences Drilling in Hidalgo County, Texasadmin
Thursday, August 10th 2006
Aminex PLC, the oil and gas company listed on the London and Irish Stock exchanges, on Wednesday said that drilling of the South Weslaco Well GU#37 well in Hidalgo County, Texas, has now commenced. Aminex’s interest in this well is held through a wholly owned subsidiary, Aminex USA, Inc.
This is the third development well to be drilled by Aminex in the South Weslaco field and will test deep objectives in the high pressure gas formations of the Lower Frio sands. The target depth is 11,200 feet (3,400 meters). The first two wells, GU#35 and GU#36, completed in the shallower Frio sands formation where further drilling is also planned, were brought on stream during December 2005 and are currently producing at a rate of approximately 2.5 million cubic feet per day. The GU#37 well is expected to reach target depth in the next few weeks.
Following a decision by Apache Corp. to exercise an option to participate with a 50% interest in GU#37, partners in the well are: Aminex USA, Inc. (12.5%), Apache Corp. (50%), Stalker Energy LP (24.5%) (operator), Activa Resources LLC (12.5%), and Kaler Energy Corp. (0.5%). Aminex retains a 25% interest in the existing producing wells.