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Amni has embarked on the development of its new discovery the OKORO/SETU Field.

The OKORO Field was discovered in July 1973 with the drilling of Japan Petroleum Okoro#1 well. The discovery well, Okoro #1 encountered commercial oil in 3 sands, one of which flowed 1,500 BOPD and 1,000 BW. BW. Working in conjuction with Afren Energy, Okoro Field is in now in full operation with 7 wells, producing approximately 20,000 BOPD

The SETU Field was discovered in May 2002 with the drilling of SETU East #1 well which encountered five reservoirs. Estimated STOOIP (P50) is 21 MMBO and 7 MMBO as Recoverable Reserves using 34% R.F. Produceability from the SETU Field, using dual completion from two wells is about 7,000 BOPD/Well. Expected production from the 2 wells is averagely 10,000 BOPD.

In the area of Gas development, Amni has entered into a Joint Venture Partnership with TOTAL who acquired 40% W.I. in return for developing the gas assets with over US500MM development budget to be fully funded by TOTAL.

PROPOSITION

With Nigeria government's drive to refine over 50% of her produceable capacity expected to reach 4MMBO/D by year 2008, (current refining throughput is less than 500,000Bbls/day), Amni is seeking a Technically competent and financially resourceful partner to build and operate a 50,000 - 100,000 BOPD Refinery to refine Amni's produced crude oil which is expected to top 100,000 BOPD by 2007.

Amni International's subsidiary named Amni Petrochemical and Refining company limited will handle the downstream operations.

Community Relations

Amni Interaction is proactive in the activities involving the communities. The Nkpogu and Andoni communities have benefited from Amni's community programmes. The following are the successful projects completed in the past:

ANDONI

- Ngo Jetty Construction

- Six Classroom blocks were provided for the Oyorokoto Secondary School

- Eleven (11) University scholarships to indigene students were awarded

NKPOGU

- Provision of Borehole

- Contribution of books and furniture for the library

- Contributed towards the purchase of an electrical transformer

- Sponsored youth soccer

- Provided three (3) University scholarships