Afminex directors Reg Gillard and Hans Rudolf Moser were both involved in Adultshop.com and Global Doctor.com with the former suspended from trading on the stock exchange while the telemedical benefits of the later has failed to impress the market.

In order to achieve some form of market respectability, Afminex has hired well respected oil and gas industry consultant Russell Langusch to advise the company on its Central Asian oil plays while information on hydrocarbon reserves has been done by independent engineering consultants Troy Ikoda.

Late last year, Afminex informed the market that it had signed a series of option agreements to acquire up to a 50% interest in seven oil projects covering 15,600 sq.km in the Central Asian republic of Kyrgyz.

Afminex said at the time the properties were at exploration stage only with no current oil production. However, encouraging results from a number of wells drilled on the Charvak and Ashvaz licence areas has confirmed the early potential of these permits.

Speaking to EnergyReview.net, Afminex director Colin Carson said drilling has already commenced on the Charvak permit and if successful, the project can be brought quickly into commercial production. Under the deal, Afminex is committed to spend $US150,000 on the development and production testing of three shallow oil wells by February/March 2003 on the Charvak project.

"Assuming these wells are successfully brought into production, Afminex can inject a further $US1.25 million throughout 2003 to continue developing wells and production facilities on the Charvak oilfield to earn its 50% equity," Mr Carson said.

Afminex's other partner in the Kyrgyz oil play is Canadian-based Textonic Consulting, which is headed up by industry veteran Dr Alex Becker. According to Mr Carson, Textonic Consulting has vast experience in the Kyrgyz oil and gas industry and prior to its agreement with Afminex, had been looking for a farmin partner to help commercialise the oil projects.