Aminex: Charts & Fundamentals

Wezzy

A fair comment and one that is ubnderstandable. We dont want the board to become a ramp fest or love in.

In this case, however, you are wrong to be concerned. The Korax PSA was signed with the very real belief that there was the chance for someone else coming in to the DPRK and developing the oil. That is why the PSA says that AEX have first call on acreage and if they cose not to go for it, they get a 10% carry and 2.5% royalty on oil produced even if by a third party.

I cant add to what ee has said other thqan reiterate that the DPRK didnt exactly have a wealth of options in 2000/2001 and they had no real knowledge of the petroleum industry so AEX brings to them the skill sets they need. AEX has been working closely with the powers that be and so has a long standing presence and respect (as well as the PSA).

DOnt forget of course that its not only about the DPRK - dont forget Madagascar, Tanzania and Egypt.

Disclosure - we do own 5% so we are very happy at the moment.

D