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I think you too better get your hat ready for eating Tanzania.
I imagine you wear a leather stetson? Probably best to soak it for a couple of days beforehand.
Just to remind everyone about 'eating my hat promises' This is one of RoJo's quite recently. ......."going nowhere for years. Maybe this time is different. If so, I'll eat my hat and sell up".
I won't explain to you again.
If Chikumbi comes in we have extra good reason to see him gone " Roll on !
Please yourself Tanz.
You might be able to convince Crusty RoJo, but not me.
Tanz - I have explained this to you more than once, as have other posters.
I do not wish Aminex to fail, I would like it to thrive so that I get my stake back.
My problem is the ten years or more of hopelessly over-optimistic, ill-informed posts from you and many others like you claiming that the golden future is just around the corner.
There have been many thousands of these ramping posts. All proven to be totally incorrect. This Company has been going nowhere for years. Maybe this time is different. If so, I'll eat my hat and sell up.
I won't explain to you again.
There used to be poster called Apache, very similar modus operandi.
What we never hear from you RoJo is why as an Aminex shareholder, you always talk the company down and seemingly want it to fail ! Share your grudge with us, yes ?
Thumbs up numbers are completely irrelevant...
Oh Tanz!
PoC posts stuff that others want to hear.
That's easy!
Here's a surprise reply for you Crusty. A reply. Whatever else you say , now even more agree with Poc which is bewildering yes?
Oh and sorry Tanz just to be clear, I don't expect an answer. Like PoC it would require you to actually understand rather deeper issues than the totally superficial ones that you seem to focus on ; no doubt you will rely on the "scoring" as the totally specious deflection rather than address the underlying question?
So perhaps Tanzania you can offer a suggestion to my underlying question, which PoC yet has even to understand yet alone address, which is, essentially, why would ARA (not APT by the way) consider why AEX continue to be their "long term vehicle for East African O&G Exploration and Development" if AEX no longer consider themselves to be "operators" in that environment? What has AEX got to offer that ARA themselves could not do themselves directly as minority participants in any future enterprise?
So why has PoC got the support that Crusty hasn't ?
PoC
And yet you state that you have “no opinion “
Crusty is an”hold” and I am a “weak buy “
oh, I get it all right. Lol
You just really don't get it do you PoC....? You cannot even grasp the point of the conversation POC, so no surprise that you cannot even articulate a meaningful response...
But hey why am I not surprised.
Come on guys. Get with it.
ARA are pumping $140M into Ntorya. How can that be a temporary strategy. Comedy gold. Lol
Exactly BG, exactly. So either it is a temporary "strategy" or ARA's position as a cornerstone investor might itself only be temporary.....?
i agree Crusty, the strategy and transformation of the company that Aminex is now pursuing is not and bears no resemblance of Zubair's aspirations when they first invested in Aminex.
https://www.lse.co.uk/rns/AEX/placing-and-open-offer-j8wbyfixtphj57t.html
Ola Fjeld, COO ARA Petroleum (a division of The Zubair Corporation LLC) said: "We have known the Aminex management for some time now and believe that Aminex, with our support, can be rapidly built into a much larger oil and gas entity, in Tanzania and elsewhere. We are very pleased and excited to be associated with Aminex's management and its attractive asset portfolio. We will work closely with them to move the company forward."
ARA could continue to bank roll Aminex through loans until such time it gets into production and by then the SP will 'hopefully' (lets not get carried away) be significantly higher so would inherently benefit in the longer term. I dont believe they would want Aminex to raise capital unless its a last resort . Using free cash flow then start exploring other licences and acquiring. If ARA wanted to expedite matters they could do by farming into those licences which again would match the Aminex business model currently where they take a back seat.
To be honest I think Aminex is essentially in ARA Control now, the Aminex board are just ARA mouthpiece when they need to speak.
Just my view
So that addresses one aspect of my post but totally misses the fundamental point of it - what is your view on how that might impact our relationship with ARA then PoC?
Aminex have assets that they can farmout to an operator. As for acquiring new assets. This is not part of their strategy unless it's with a partner who will be the operator.
BG , I am only speculating but my suggestion is that this "focus on a non-operating strategy" is simply a recognition of their somewhat straitened circumstances rather than a long term strategy. The fact is, they have had to significantly cut down on fixed costs to avoid going tits up and that means they have had to get rid of all their operational and technical staff; they couldn't "operate" if they wanted to.
However this comes back to something I posted a week or two ago; AEX are supposedly (at least unofficially) ARA's "vehicle" for long term Oil and Gas Exploration and Development in East Africa and that to my mind means that they are ARA's "bridgehead" into new Exploration and Appraisal activity in the region. For AEX to be able to tender for licences and concessions in the region they would need to be a capable of acting as Operators of any such license. If they are suggesting that they no longer see themselves as future operators of any licences I cannot see how they would be of any use whatsoever to ARA in their capacity as a long term "vehicle". How can you fulfill any useful function as that "vehicle" if you are nothing but a minority shareholder of a concession/license with no operational control? I suggest that a "portflio investment" company is of little use to ARA....
If we ever get invited back to an AGM, this would be my first question to the Board
Any thoughts?
+1 vike, they have enough cash to buy SCIR's 25% of Ruvuma + Kili and farm in to AEX's portion of Kili + Nyuni.
Farm down the assets to Orca. They could literally walk over the KN during their lunch break on SS island to tinker with the foam and see if it does anything. They've just completed a compression project and are doing a 3D of their side of the island next year. Oh, and they have a ton of cash in their account and are looking to expand.