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"Blogging expert", lol. Who is that u r referring to?
"FFS, stop trying to guess what APT/AEX will do and go away until they tell you."
FFS, what's that then?
"They might even prioritize an area in which CH1 is expected to be drilled without carrying out the full commitment."
Spam...
sorry that was from the 6 November 2019 Corporate and Operations Update
https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Corporate-and-Operations-Update/81077758
i can't see that there is any question with regard APT relocating the CH-1 drill site, as far as i can see, APT has been adding along with AEX their own input into all aspects of the upcoming CH-1 drill.
"The 2020 Work Programmes and Budgets for all licences in Tanzania have been submitted to the government for approval which includes a gross contingent ca $40 million programme for the drilling of Chikumbi-1 and the acquisition of extensive 3D and 2D seismic surveys over the Mtwara licence, the costs for which Aminex is fully carried;"
-- "ARA Petroleum Tanzania Limited ("APT") has agreed to fast-track select Chikumbi-1 pre-drilling activities and has appointed a management team to oversee Tanzanian operations. APT also intends, in the very near term, to open an operations office in Dar es Salaam; "
"As previously announced, both APT and the Company have seen recent positive movements in Tanzania with respect to the general business environment, growing demand for natural gas consumption and the approaching completion of the government's review of production sharing agreements. As a result of these encouraging developments, it has been agreed to fast-track select Chikumbi-1 "pre-drill" activities including construction of an access road to the Chikumbi-1 wellsite, construction of the drilling surface location, ordering of select long lead items and to progress permitting activities. This will enable the joint venture group to commence drilling operations on Chikumbi-1 as soon as possible following the granting of the extension of the Mtwara licence. Furthermore, APT has taken proactive steps to hire key in-country management personnel including the former Technical Director of PDO in Oman, who has been appointed General Manager."
Stop trying to guess?
'Not a spanner, the correct way to proceed. They might even prioritize an area in which CH1 is expected to be drilled without carrying out the full commitment'
Let's wait for the OCM and do just that Bucks.
FFS, stop trying to guess what APT/AEX will do and go away until they tell you. There are other companies to get on with, and not just SOLO or their newly green-branded; "hope everyone will forget the past", SIROCCO|. Can't believe some people are here 10 years+ and looking for an average of 1p to escape. Sums up AIM O&G. Opportunity cost people.
APT don't need to figure out what AEX were doing. APT will just do what APT does.
I guess it's up to the Zubairs to decide if the previous operator AEX had the dual target drill correctly lined up. In saying that the Zubairs were part of the Board of directors when the drill pad was built and the dual Geological targets announced.
We'll find out soon enough after the OMC. It would contradict the communications so far if they did wait for seismic and also be strange to plough on with drill preparations earlier in the year including building access roads.
Need spud date and a drill first Thordon as per the terms of the licence.
Under the terms of the extension the Company, through the Ruvuma PSA Joint Venture, is committed to perform the following works during the extension period:
· Acquire 200 square kilometres (surface coverage) of 3D seismic (min. expenditure of US$7 million)
· Drill the Chikumbi-1 exploration well (min. expenditure of US$15 million)
· Complete the negotiation of the Gas Terms for the Ruvuma PSA with the Tanzania Petroleum Development Corporation
· Using the data gathered from Chikumbi-1 and the seismic acquisition, prepare and submit an application for a Development Licence for the Ntorya Location area.
To be honest you need a licence extension ( 25 years ) ; Wentworth went through a torrid time at the beginning and delayed payments meant loans to cover the selling of gas before payment several years later and still some outstanding payments.
AEX can only sit on the fence as control been transferred and time line is months to years.
"The only spanner in the works as I see it, is if APT as the new operator decide to complete 3D seismic and analyse data prior to drilling CH-1, in order to ensure the optimal spud location. I would, if confident I would get a further license extension."
Not a spanner, the correct way to proceed. They might even prioritize an area in which CH1 is expected to be drilled without carrying out the full commitment.
It will be an interesting week.
well, he's entitled to his opinions i suppose.
The only spanner in the works as I see it, is if APT as the new operator decide to complete 3D seismic and analyse data prior to drilling CH-1, in order to ensure the optimal spud location. I would, if confident I would get a further license extension.
There is another opinion. Over on the Wentworth forum, in response to a polite promotion of AEX by our Chris P, Mick 2020 says he doesn't expect anything to happen here in the next few months or even before we get the Licence extension again. When the news we expect arrives, it may well be there could be a bit of an exodus.
Potato, yes agree, waiting on the news
"APT, as the new operator of the Ruvuma PSA, intends to call an Operating Committee Meeting (OCM) shortly,"
Yes Mather, I do believe Q1 is feasible - with a fair wind. Suitable rig availability and proximity being the most obvious dependencies.
Surely Crusty you think Q1 is achievable? I would say Jan/Feb is likely with seismic starting this year as long as the services are available.
But potatospud when RA stated that, circa 6 months ago, he wasn't expecting to wait until October to get the F/O approved was he? So maybe he will just have to get used to being disappointed - along with all the rest of us long suffering shareholders.
That said, like you and everyone else, I certainly hope that his claims will be proven correct....
Surprised there hasn’t been more buys today but even more surprised people are still selling - buy when others are nervous - Tanzania Election sorted, news Monday regards Scir 25%, American election will be over on Wednesday Oh & that big RNS to land any day - Ducks lining up... GLA
going long - you have got to be realistic. meeting will not take place until atleast next week or the week afters- so expect news then. ramping on your first post, and making such statements, isn't very wise.
When it happens it ill happen, we all know it will boom. You have to have the nerve to hold. we all seen how this can boom over 150% in a day, what do you think will happen when we get timetable...mmmmmm (SPUD DATE)
Wouldn't want to be out of this over the weekend. News drops on Monday this will fly.