Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Filtered after one post, that’s got to be a record! Are you so insecure that you can’t handle anything negative?
Here's a question for all those talking down the possibility of oil, have a long think about this one before replying in haste!
What do you think would happen to the share price if ARA, after analysis of the 3D Seismic, made just one tiny mention of a 'possibility of oil' when drilling CH-1?
Yeah, as Mike Rego says, even on a very conservative basis that suggests potentially billions of barrels of oil was displaced from the deep water gas fields.
No doubt some of that oil became gas under the high pressure, but the oil that was pushed up-dip, some of it could have ended up in compartments where it remained as oil.
The mm’s are closely controlling the rise and are late reporting the 1 million trades so we can’t see what’s going on in real time.But the good news is the sells are at ever higher prices with the most recent 1.1 million sell at 0.9455.
Don’t forget it’s a fairway fan system, how far,? Over 52 tcf of pressurised gas might be behind
This oil?
PageofCups,
Aye, Mike Rego explains that the oil is pushed up-dip by the high pressure gas, and where are we drilling next, up-dip from NT-2.
Looking very good now.. Up up up
Oil clearly visible at NT2
http://admin.aminex-plc.com/uploadfiles/20170307_Ntorya-2%20Appraisal%20Presentation.pdf
Uptick 100%. There a good reasons for buying AEX now based on an identifiable route to market for potentially significant volumes of gas; but speculation about oil merely risks unnecessary disappointment fuelling volatility. I prefer to base my investments on core business potential not pipe dreams. I still think this is significantly undervalued and true market value will be worth waiting for - as if we haven’t waited long enough!!! I am encouraged, however, that the BOD do seen to have grasped the concept of keeping PI’s and the markets informed on a more regular basis.
Did I tell anyone to buy on the potential that there's oil at CH-1? If you check my posts I never said anything of the sort. What I clearly stated was:
"Many TCF's of Gas will be great, but the oil had to go somewhere, and wherever it is there could be a lot of it...."
That is called POTENTIAL, not any claim of fact that oil will be found. Mike Rego says the oil is there somewhere, and he knows far more about it than all of us put together.
So many words for something so simple. There's a very slim chance of oil. Not worth buying AEX on that basis. Luckily there's lots of other good reasons to buy AEX at this low price. Anything other than gas from CH1 is just a bonus.
A couple of sells as you would expect as we approach 1p but even the sell price is moving up 0.926 followed by 0.931. Volume currently 2.7 million.
Ariel
If you meant each have their own TV show, I know which I would choose to watch for rational info on AEX; now, for a variation on I'm a Celebrity etc., that's another matter.
Good morninng all and in particular hypemctripe - the LSE's answer to Winston Ingram; or is it Jamesie Cotter? lol!
So you would prefer to rely on opinions from 12 years ago rather than those of two entities recently incolved in negotiations for 25% of the license; neither WEN nor SCIR are expecting any OIl play from CH1 - I suppose they don't know what they are talking about either and ought to be deferinmhg to Mike Rgo's opinion?! An opinion formed before any of the Ntorya 2D seismic was even available? Well yes of course you would mctripe because that accords far better with your ramptastic agenda.
Not a surprise to see mctripe rehashing countless historic references to Ntorya (most of them long since superceded) as we move to H1 spud - the rainbow chasers, pumpers and dumpers, and rampers will be flocking in over coming weeks, with hypemctripe the No1 cheerleader and drum beater - no doubt we will soon be up to "ramming speed" as hypemctripe looks for the CH1 spike to facilitate his exit. I just hope that very few people are left hanging on the spike that he leaves behind....
Mind you, you do have to feel sorry for him, after all, despite his hype he has suffered countless disappointments over the last 18 months as every one of his long awaited sp "catalysts" has failed to do anything for the shareprice - so he now so desperate he has to hype the few remaining opportunities for all he is worth....
I too am off for a few days this week, so I wish you all good luck - I hope to return to see that 1p barrier breached ;0)
I'm afraid you're all going to have to survive without my words of wisdom and calming influence, as I'm popping back to the South of France for a few days.
Try to keep one foot on the ground in my absence guys and gal.
From the Ntorya-2 well results RNS:
"Ntorya-2 also encountered traces of oil in the gross reservoir interval and the Company is updating its basin model to determine the optimal drilling depths for Ntorya-3 and for future development wells."
I just KNEW Crustyknob, the Victor Meldrew of AEX would be straight onto this post, he's SO PREDICTABLE and no doubt still trying to talk down the oil potential, despite Mike Rego knowing far more than he will ever know about the oil potential and the reasons for it.
Meanwhile, here's another snippet from AEX pointing to oil potential.
From the NT-1 update:
"Having previously logged oil shows in the Likonde-1 well drilled in 2010, drilling to deeper targets offers the possibility of finding liquid hydrocarbons"
And drilling to deeper targets is EXACTLY what ARA are planning to do at CH-1.
Stick that in your pipe and smoke it Victor Meldrew!
"Things could sure start getting interesting as we head towards 3D Seismic results and then drilling."
And then again, it might not. What have WEN and SCIR had to say on the subject?
Keep up the hype mctripe.
Things could sure start getting interesting as we head towards 3D Seismic results and then drilling.
Who remembers that the oil is believed to have moved up-dip, from the basin to onshore? Who remembers we chased this oil at Likonde and had oil shows, and looked again for it further up-dip at Ntorya where we also had oil shows? And now we are drilling even further up-dip at Chikumbi.
Many TCF's of Gas will be great, but the oil had to go somewhere, and wherever it is there could be a lot of it....
January 05 2010
"Likonde is an onshore prospect, meaning drill costs are lower and while it may be a relatively small scale project for Tullow, it is an entirely new exploration region for the company. The target is located on the Ruvuma licence and is reckoned to have the potential to hold 500 million barrels of oil in place, with estimates of recoverable reserves in excess of 150 million barrels of oil."
https://www.independent.ie/business/irish/aminex-shares-boost-as-tullow-begins-drilling-in-tanzania-26620232.html
Finding East & Southern African Oil & Gas conference in London. 2017.
Mike Rego: “The oil is out there, we just have to improve how we look for it"
Neil Ritson: "“Black oil was seen on the cuttings [at the NT-2 well in Tanzania] – now what we will make of that in the next few months to years, I don’t know"
https://www.rigzone.com/news/oil_gas/a/148862/industry_consultant_theres_still_oil_to_find_in_east_africa/
(Now we will have 3D Seismic to work with!)
Mike Rego presentation, well worth watching.
Scroll down to 'All Video Presentations from Mike Rego' and click on the link there
https://www.findingpetroleum.com/biography/Mike-Rego/c7fce48d.aspx
Mike Rego did another presentation in November 2020. He still believes the oil is there, and he knows far more about the science of Africa oil and gas than anyone else I reckon.
https://www.geoexpro.com/articles/2020/11/underexplored-african-source-rocks