'Aminex Plc (LON:AEX) confirmed it is looking to expand its business now that it has finally achieved a long-awaited milestone in Tanzania, with the start of gas production from the Kiliwani North field.
The company also welcomed news that an oil pipeline originally due to be built from Uganda through Kenya would be re-routed through Tanzania due to security concerns. Shares in Aminex gained 0.04p to 1.35p.'
He did state that you are right (on the 25 year appraisal and development license) you dont need to check but what about the 4 drill commitment and impact on KN1 incomes and Ruvuma acreage?? None of that was contingent on drilling NT2. Nor the agreement on a strategy for EPS..... which would include, or provide an alternative for, the spur?
None of that contingent on NT2 but it is all needed to conclude any funding or farm-in partners
FL I think you will find that they have already stated that the Nyuni seismics have been shleved until 2017.
As for questions;
1) How and when are they going to deliver their stated 2015 priority of paying down debt and strengthening the balance sheet? 2) Re above when are they going to get rid of ARGO who it was cost us $3.2 million last year from a total loss of $4.3m 3) What are the BOD doing to get us out of our end of 2016 4 drill obligation in Ruvuma PSA - when will this be delivered? What happens if not? 4) How can they expect to get funding or a farm in without this? 5) Was this why BLVN backed out? 6) What commitment can they provide that they will not be looking for another placing or rights issue to fund Ruvuma or, more pointedly, further acquisitions? (I would fund a rights issue for Ruvuma but NOT for acquisition)
I hope to be there myself but have to move a Consultants appointment at the local Hospital and that may not be easy.
4) Why in his opinion did BLVN back out? 5) Are we going to buy 12.5% of Solo's Rvuma that they plan to sell? 6) Are we looking to farm-out? Which assets, what %s? 7) What plans are there for seismic survey of offshore Nyuni? When likely?
draw up a list of questions we want answered at the AGM. Gaslady can ask them for us as she said she would be going to it. Questions : 1) Can Jay confirm that TPDC have discussed willingness to link up wells at Ruvuma and what timescale are they looking to do it? 2) How will he fund Ruvuma drills? 3) How will he fund purchase of Egyptian assets?
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