USA

1,700 acres

100%

Aminex USA

• A proved producing and proved undeveloped oilfield acquired by Aminex in 1995 with 2 producing wells.
• Following interpretation of new 3D seismic, adjoining acreage was purchased in 2009 and a drilling programme initiated in 2010.
• Aminex holds leases at Shoats Creek covering 2,100 gross acres.
• The OM-1 well was drilled to 9,000’ in early 2010 and is now producing oil from Cockfield sands.
• In July 2010 Aminex and El Paso E&P, LP signed a 50-50 AMI agreement to explore the deep Wilcox sands which span both companies’ acreage. Aminex contributed roughly a quarter of the surface area of its deep acreage to this AMI .
• OM-10-1 was drilled by EL Paso and Aminex and TD’d at 12,410’ in the Upper Wilcox formation in July 2010, encountering and logging hydrocarbon-bearing sand intervals.
• Further drilling at Shoats Creek is currently planned for 2011

• Aminex has a 37.5% working interest in the Alta Loma property which is operated by El Paso.
• Sunny Ernst-2 (SE-2) has been producing from Upper Andrau sands since a successful discovery well was drilled in 2008.
• Initial production was from Upper Andrau sands which have now been depleted
• Above the Upper Andrau lies a thick section of gas, logged when the well was drilled, in a formation known as the “S” Sand. This interval was completed for production in 2011 and currently produces up to 8,100 mmcfd gas and 350 bbls oil
• Drilling of a new development well, Sunny Ernst-3, is now likely to be delayed until 2011.

• The Somerset Field, Bexar County, Texas and close to the city of San Antonio, produces approximately 100 BOPD from multiple stripper wells with relatively high operating costs but no material production decline year-on-year.
• Aminex USA Inc. is the operator and 100% owner of Somerset.

• The South Weslaco gas field, Hidalgo County, Texas produces approximately 1.85 MMcfd gas from 4 wells and is operated by Kaler Resources. Aminex USA Inc. has a 25% working interest.

  No further drilling is expected at Somerset or South Weslaco in the immediate future.