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Volume is now over 20 million. That's the highest since last December.
So to answer the original question, yes they have struckk proven gas and it has flowed at commercial rates.
What no one knows yet is how much gas there is. GIIP is 2TCF. Operator estimates are 8TCF. The next drill (CH1) is an appraisal well (now) and the results of that well together with 3D seismic mean that we will know much more soon.
There is no doubt that there is commercial gas. The Govt is building a pipeline so it can flow to market.
Whether it is 2 or 8 TCF the numbers are enormous. 300BCF in the north sea is described as "enormous".
Technically hardnose 8tcf is not yet proven nor likely to be fully retrievable, but the flow test at NT2 returned 17Mmcf/d from a restricted interval and the flare would indicate gas is proven.
NT1 also returned 20Mmcf/d and 139 bls of condensate with potential to re-enter and perforate a lower gas zone, which is planned using the rig they use for CH1.
That’s a silly answer Tanzania and demonstrates a view that’s equally as incapable of any impartiality as Rojo’s, but from the polar opposite viewpoint.
I clearly stated that the estimates of gas in place are impressive, but proven reserves are an entirely different ball game to GIIP when attracting (particularly institutional) investment.
If you really want Aminex to be viewed as a credible investment I’d suggest raising the game on discussion - people will come here as a source research - if posts from the bulls not credible, it hardly underpins a sound narrative for the company.
Todays volume of 20 million has now exceeded the 19 million of 6th March and we are now chasing the 24 million traded on 16 th December. We know news should be close and this high volume and 8.5% increase in sp suggests the market is expecting that news soon.
So hardnose, government taking a big risk with the pipeline, yes ?
To answer the question at the start of this thread - AEX currently have no proven reserves.
All we have are (impressive) estimates of gas in place. Moving to proven reserves would I think be a significant catalyst for the share price.
It won't let you say scun thorpe either( without the gap
Why does lse block it. What a joke
Was about to say the exact same thing. ffs, ***PACKET. There, easy
Shaking my head at the state of this world. Asterisks for Cigarette "***" packet calculations Really. So sad!
Not yet MG, a few have done some *** packet calcs, but the GSA is still under negotiation.
It will also depend on the flow rate from the test, after then we may see more *** packet figures :D
Thanks for the replies.
I've been on board for a while and these have been in the 'kichen drawer' awaiting this sort of action.
Do we have a ballpark for earnings once in production?
I think we can safely say that there has been miles and miles of that red tape but the government are on board now and are about to construct a pipeline to the madinba plant for first gas expected October. All the preparations have been made we're currently waiting for news on the two week well/flow test decision on well head equipment to connect to the pipe. 3D seismic should already be completed for a decision on the next drill and the rest of it is due around June. It would be nice to have an upgrade on the current figures, but if eight plus tcf is not enough for people and I don't know what is.
Good luck of you have newly boarded
Have a look at the size of the flare at NT2. It's there alright.
Excuse my ignorance... Is the gas proven in the ground and ready to go?
Its just red tape holding up getting it out of the ground?
Triggered by the 1.34 then Max miss the top did you? lol
whenthe time icomes it wont need ramping!
can i ask why are you in this share? to make money or just talk as if you are professor sp?
roger i am not the one having a @gasm seeing a 6/9% increase.
i am waiting for atleast 3/4p before i get excited!
i have been here long enough and alot longer then you!
have a nice day
Little faith
Warming Max ;)
Have you grabbed your 9% this morning Max? Lol
Warming up is just lighting the match for the fire to get going. Then you will be ramping the hell out of it as you have in the past. :D
BTW the sp is up 8.5% after 4.5% up on Friday
6% increase is not warming up roger, say that after a 50/50% increase.
people will start congratulating after a 20% increase! Keeo your hair on!
this is the start after such a long frustration... but nothing to celebrate until we are 3p plus!
Hopefully a nice May day birthday present. Bring it on. Some confirmation of decent flow and consistency would be good. Things look to be warming up here at last
Thanks all for the responses.
In my list of really really very imminent news I forgot the flow tests. 2 weeks from late March they said.