why no aminex update

OK guys. In case you are not aware, the London Stock Exchange rules for oil and gas companies are far less strict than for those of the ASX, for example, the ASX requires that a weekly drilling report MUST be issued by each company undertaking a drilling program. This is why I was somewhat bemused when Hotcopperites were pleased with the fact that KEY were issuing weekly updates - it is against the law not to do so. The LSE does not force these rules on its listed entities, therefore if you look back there was only one AEX update on the LSE during the drilling program which was an announcement they chose to make. Aminex have not updated the market because they are under absolutely no obligation whatsoever to do so. If you think this all sounds like BS then contact your financial advisor or stockbroker who will tell you the same. Or look on the LSE website.

Ever since listing, drilling in the Po Valley was meant to commence 'late 2007/early 2008', and currently the company maintains that drilling will commence in Q2 2008 - so now. I am expecting an update on this very soon, otherwise I expect it will be delayed further into 2008. The reason for the delays - IMO reading between the lines - is that the relevant Italian authorities (specifically those in the environment section) have yet to consent to drilling. But when this happens I expect rapid appreciation of share price, especially if they target oil. I draw your attention to the March 2007 company prospectus which contains a glowing summary of the Borsano permit's prospectivity by an independant consultancy firm.

ENI is a previous owner of the Borsano permit, who was forced to give it up when joining the European Union (the EU states there are to be no monopolies in member states - ENI owned 100% of the acreage of the Po Valley.) They own the giant oilfield Villa Fortuna which lies 8KM to the south west. ENI are a company with 6.5 Billion barrels of proven reserves, no that is not a typing error. They released the following report on hydrocarbon prospectivity of the Po Valley a while ago - I especially like the statement that gas prospectivity in the Po Valley ($14USD per mscf) is 'very low risk.'

http://www.assomineraria.org/news/attach/workshop_2004_michelotti.pdf

Sorry if I make spelling errors I don't have the time to look back.

SS.