Yeah I personally think the decline over the recent weeks has been a big over-reaction, just my opinion but with us just floating above the 52 week low, and that AGM presentation today certainly looks like a good buy right now for short term until we hear news on Nyuni, which I would imagine isn't too far away by the sounds of the proposal.
thanks for your insight, what do you make of proactive,s appraisal of $$$ last night?
The company acknowledged that securing one of the deals was crucial in order to repay the $8m short term loan it took in January, adding that it was "actively exploring alternatives for funding its core activities and addressing a number of the strategic issues outlined in 2012
Previously, stratigraphic complexity has been hard to image and interpret with confidence on seismic in the absence of well data — not anymore with 3D seismic.
The new technology hugely limits risk and also has a more detailed and accurate basis to identify better drilling targets, that's a huge step forward and also a great way for the company to maximise on potential and limit risk.
Overall as outlined in the presentation, they state: High quality (3D) seismic in the open marine deepwater environment is the main cause for recent success.
So it's a great step in the right direction, next RNS hopefully will be initial results from Nyuni
many thanks, fudning is still an issue and i accept that risk, i,ve seen lots of oilies striggle with backs against wall e.g RIA last month, what do think is best and worst case for AEX in next 3 mths?
Just looked at their presentation, looks promising. Aminex giving evidence of the background work they have done, and what the future holds, the best bit i like is :
Exploration Prospectivity oTanzania has signed a $1.2 billion finance package with the Chinese Export Bank for gas infrastructure which will include: •450 km 36” pipeline from Ruvuma Basin to Dar es Salaam. •25 km 24” pipeline from Songo Songo Island to main pipeline. •New gas processing plants on Songo Songo Island, and near Mtwara – approx. 30 km from Ntorya-1. oThis pipeline will provide access to market for both Aminex’s Kiliwani North gas Field and Aminex’s Ntorya-1 gas discovery oPipeline project due onstream end 2014.
Packages like this will only be signed, if countries and big banks have full confidence in this area to be drilled, not if PI panic sell
Since the success of Aminex’s Ntorya-1 gas discovery, mapping of the Ruvuma PSA has identified further stratigraphic leads not previously recognised with confidence from available 2D seismic. Aminex is planning new 2D seismic in the Ruvuma PSA to better define and de-risk the stratigraphic potential, as well as to appraise the Ntorya-1 discovery.
Tanzania has signed a $1.2 billion finance package with the Chinese Export Bank for gas infrastructure which will include: 450 km 36” pipeline from Ruvuma Basin to Dar es Salaam. 25 km 24” pipeline from Songo Songo Island to main pipeline. New gas processing plants on Songo Songo Island, and near Mtwara – approx. 30 km from Ntorya-1. This pipeline will provide access to market for both Aminex’s Kiliwani North gas Field and Aminex’s Ntorya-1 gas discovery. Pipeline project due onstream end 2014.
The deepwater acreage in the Nyuni PSA is of potentially significant exploration interest and 3D seismic is planned for this year. — This is pretty substantial, especially as AEX have never previously had that type of tech before.
Ruvuma is a vast licence which contains a number of large leads in addition to the Ntorya discovery.
With a major new pipeline project under way and strong demand for natural gas, Ntorya and discoveries at Ruvuma will be important components of Tanzania’s short to medium term energy needs.
Key in my opinion — Nyuni PSA 3D seismic is planned for this year.
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