AMINEX plc, an Irish oil and gas explorer saw the sharpest rise in its share price in four years in London yesterday, after tests at the Sunny Ernst-2 well in Texas “materially exceeded expectations”, the company said.

Aminex PLC has announced that Red Sea Petroleum Ltd, in which it has a 51% shareholding, has been awarded an onshore exploration licence close to Egypt’s Red Sea coast.

Aminex PLC, the oil and gas company listed on the London and Irish Stock Exchanges, today announced it has entered into a conditional agreement to dispose of its interests in the Vinton Dome Oil Field to Orion Oil & Gas Louisiana Holdings LLC (“Orion”), for a total gross cash consideration of $5m (€3.9m).