George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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BG I think if you look around you, you would see we are heading that way in the west where kids are being indoctrinated into all sorts of so-called progressive agendas.
It is our western power that is creating planet fear through every media source it controls, but hey ho I'm one voice that can't control that.
" President Xi Jinping pointed out, the hope of the China-US relationship lies in the people, its foundation is in our societies, its future depends on the youth"
I think he means the indoctrination of the youth, by dehumanising and Derationalizing their natural powers to reason.
Https://www.fmprc.gov.cn/mfa_eng/xwfw_665399/s2510_665401/202403/t20240311_11257611.html
Subjects include Tanzania, Africa, Ukraine and Russia. Worryingly the concern of the proliferation of military build up by the west.
"Wang Wenbin: By setting up the so-called AUKUS, the US, the UK and Australia are in nature inciting military confrontation through military cooperation. This is typical Cold-War mentality. It will increase the risk of nuclear proliferation, exacerbate arms races in the Asia-Pacific and harm peace and stability in the region. China and many other countries in the region are gravely concerned and oppose this.
Any attempt to enlarge and upgrade the US-UK-Australia military cooperation represents a step in a more dangerous direction, and will only cause greater concern from regional countries and the international community. We urge the three countries to abandon the Cold-War mentality, fulfil their international obligations in good faith, and stop creating greater trouble for peace and stability in the region."
Hardnose
For any institution looking at Aminex the first question is what do they own, what are their assets?
At the moment the answer is nothing. Because of the licence. When the 25year licence is confirmed then ownership and asset status is confirmed and the value of the up to 16TCF can be applied. That won't happen in a day. It will take time. But every piece of news that shows the field is being brought to full development/production will allow the market to bring the price more into alignment with the real value. That (for me) is why the seismic update has not impacted yet. (Yet underlined).
I hope you are right BG but I believe it might take more than one; and more so if we wait months for that first one :0(
Yes agree Crusty, but one RNS could change that view entirely.
Perfectly feasible BG but, unfortunately, all speculation. It is this continual uncertainty and speculation caused by never ending delays that in the dampener on the sp and will continue to be until things progress to the point where there is very little that can go wrong....
Also, I would imagine the workstreams of both the 30 km pipeline to the processing plant by TPDC, and the CH-1 drill and workover/testing of Ntorya-1 and 2 wells, will be worked in concert to complete at the same time, approx. No good one without the other. So they could be waiting on the final design of the pipeline, Before its all systems go. Money costs ?
Indeed but I cannot believe that is in any of the JV partners interests; converting that back into $US will be almost bloody impossible....
"And the TPDC will need $US to satisfy their obligations BG. "
Yes, I really don't know Crusty, though the GSA allows for the TPDC to pay for the gas in both Tz shillings and the US $ ?
And the TPDC will need $US to satisfy their obligations BG. The BoD fully expect them to do BG so but I can see why this isn't going anywhere until they are in a position to do so.
Unless the JV is willing to fund them in the short term and take it back out of future incomes - but we saw what happened with Kiliwani invoices, right?
Https://www.pura.go.tz/pages/ruvuma
Ruvuma
ONSHORE BLOCK: RUVUMA
OPERATOR:
ARA Petroleum Tanzania Limited (75%)
OTHER CONTRACTING PARTIES:
Ndovu Resources Ltd (25%)
License Area Size:
766.76 sq.km
PSA Signed Date:
29th October 2005
Effective Date (Initial Expl Period):
29th October 2005
First Exploration License:
3rd December 2012
Second Exploration License:
28th January 2014 – Second Period has been extended
License Effective Date:
15th August 2021
Current License Phase:
Exploration – applied and awaiting Development License
STATUS OF OPERATIONS
The Operator has completed interpretation of 3D Seismic data and currently preparation of drilling Chikumbi-1 well is ongoing including mobilization of Long Lead Items and procurement of the drill rig. Further, pre-development activities are underway including preparation of wells workovers towards commencement of production of natural gas
I wouldn't be surprised Crusty if the TPDC are instergating their back-in rights to become part of the joint venture going forward. And of course we are still waiting on the Ruvuma PSA licence, which in itself is waiting on the development licence.
MJ - Best you sell up and go.......
"I just wonder if the delays are to allow time to enable the TPDC and other Tanz bodies to get their own ducks in a row."
Oh and sorry meant to say - and , if so, I only wish they would bloody get on with it!
I suppose the interpretation of the words:
"Expect" and "Early"
Are the relevant ones in that quote.
As a LTH I've come to the realisation that interpretation of those words is more difficult than interpreting the 3d seismic.
"Whilst APT awaits award of the Ntorya Development Licence from the Tanzanian authorities, securing the assets for development for at least 25 years with provision for further extension, the Operator continues to work on multiple work-streams to commercialise the discovery on behalf of the joint venture (JV) partners and contribute towards Tanzania's energy security. Upon receipt of the Development Licence, APT will:"
· Contract a rig operator to undertake the drilling of the CH-1 appraisal well to further derisk the asset and, if successful, complete as a gas producer."
· Re-enter and repair a tubular leak in NT-1 to enable the well to be safely completed as a gas producer."
· Undertake further testing on NT-2, currently suspended as a gas producer, using a mobile test unit, to refine the design of in-field gas processing facilities."
· Continue to support the Tanzanian authorities in the early construction of a spur gas pipeline from Ntorya to the Madimba Gas Plant to accommodate gas extraction from the field."
The paperwork has been at the ministry for months. Some here were telling us that we only needed the SCIR sale to go through and all would be well (as if); all the dominoes would then fall. Then it was the GSA that would trigger the avalanche. What's the hold up now? Honestly, I genuinely would like to know. Without any knowledge of what is causing the hold up how on earth can anyone even proffer an idea of when we might get it?
Pure speculation but I wonder whether it is Tanzania's total lack of US$'s. Do the TPDC have to take up their back-in rights before ARA get the Dev License? And what if they cannot satisfy their obligations for past and future costs of that back-in? And just in advance of a CH1 drill and NT1 & NT2 workovers? Are they delaying the Dev License until they can fund it? It would not be a good look in advance of up and coming elections for the Tanz Authorities to allow Ruvuma JV partners to plough on without the "optics" of Tanzania and their citizens having some skin in the game. Plus they have a pipeline to build and fund; would they want ARA to go ahead with CH1 and re-working only then to be seen as the sole blocker to "production".
I just wonder if the delays are to allow time to enable the TPDC and other Tanz bodies to get their own ducks in a row.
I'm surprised you don't know 🙂
"Aminex now anticipates early issue of the Development Licence which will allow the award of a rig contract and enable the drilling of Chikumbi-1 and the workover of Ntorya-1. The testing of Ntorya-2 is now scheduled for mid-year using an in-country mobile test unit."
Can I get a view on why the Develoment Licence is expected to move the price whereas the Gas Sales Agreement and the Seismic results didn’t (materially or sustainably)?
Or week or month or year or decade
Expecting movement on the shareprice here once the development license is signed off. With paperwork at the ministry it could be any day now even at Tanzanian red tape snails pace.
The mind boggles. lol
"Furthermore, the new 3D seismic images a possibly even larger area of gas charged reservoir sandstones, beyond the high confidence area established by the new seismic inversion modelling. This provides for potential additional prospective gas volumes associated with the Cretaceous age sand units tested in NT-1 and NT-2 (Units 1 and 2) and for the possible existence of an as yet undrilled shallower sand unit (Unit 3), to be tested by the forthcoming Chikumbi-1 (CH-1) appraisal well later in the year. An upside aggregated GIIP volume for the Ntorya accumulation based on a success case in multiple stacked sands at CH-1, is estimated by APT to be up to 7.95 Tcf (approximated to a mean unrisked P10 GIIP)."
"I agree we won’t see 15p this year- we were more likely to see 3p plus"
"But with momentum and media coverage maybe we see 5p"
Yeh, and maybe when the CH-1 gets drilling, with its potential to upgrade the resource by another 3 tcf of gas, the shares could even surpass 5p by quite a bit. How many TCF of gas do you need to get the market buzzing. Lol