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ARA and the Zubairs are firmly in Aminexs' corner. The message to the Tanz government is pretty clear.
My sentiments exactly HighlandMatt,
Surely they have a plan B to be giving this ultimatum, but who knows. Nerve racking 2 weeks ahead.
So...ARA has advanced $2m, which would be due to AEX under the FO. That keeps the lights on and shows continued support from ARA. I'm sensing the influence of Santos combined with Zubairs and a plan B in place. They are not daft enough to give a government an ultimatum without a plan.
yes, but drilling CH-1 and work-over NT-1 and 2 would get to the EPS if allowing for TPDC funding pipe-line to processing plant.
" prove very costly." or very profitable if green lit
plus Aminex has to work out how to fund 75% of the Ruvuma license work program
" 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.
wow just seen the RNS- Not suprised... finally the tanz gov get an ultimatium... this country changing field is seeing no actions. The Gov is full of muppets corrupt to the core, and we have had muppets at aex, who are incapable of doing what is required. finally we seeing the company be proactive.
i wish everyone the best of luck here, as it could prove very costly.
ARA have 30% of AEX so they are going nowhere. Correct tactic IMO. This can’t drag on any longer. If the FO falls through, ARA take over is on the cards and it will be more that the current 0.5p SP that investors are currently selling at.
Market makers are limbering up for action!
It's going to be "Tremendous"
I don't know. There were those who were unhappy with the FO terms, but it has the advantage of no cash calls to field development, and puts a bigger company in charge of the drill. You always have to have options, a BATNA, so I am pleased to see the BOD being proactive.
I agree Aminex have options, Matt. I obviously prefer the farmout but it is not over if thay does not get approval.
This is obviously about pressure on Govt. We will walk away but have millions more makes no sense otherwise.
Correct tactic too.
Sounds like a decent alternative Matt, which do you think is better for us shareholders, The FO, or your suggestion?
BG do you think that means they are more likely to simply take over AEX?
I know its all speculation and the FO might still happen, just interested to learn how this works a bit more, not in a position to walk away now, whatever happens, I am seeing it through.
What are the chances that Santos and Ambrose have been speaking with ARA and other companies and have planned to:
a) retain 75% of Ruvuma
b) merge with a producing company
c) pursue the govt for the $10m from KN1 and CGT?
ARA would still have exposure to Ruvuma...
it is a dam shame as I held out for this pile of S**T and lost out on so many opportunities, this is shares for you and I will recover from this nose bleed and thank god you have relief from posting, there are some nice folks on here and I want to wish them all the best and I hope it all works out but to invest back in here I need that farmout to be completed and if it does the brave will make a fortune of course, take care and stay safe !!!
best of luck all, i'm out as well
And just donated an ambulance...lets not forget the ambulance!!! lol
lets not forget ARA/Zubair allready hold own 30% of Aminex ?
I would like an insight into these things also Panch, can someone more knowledgeable shed some light?
what is the likely outcome for AEX?
> We continue to hold the asset>
> Get back the money we paid in tax for the farm out?
> Continue to chase for the other monies owed?
> Look for a new JV partner?
> Start repaying ARA for their loans etc?
Is there still a glimmer of hope that this is recoverable without this particular FO or is AEX then dead in the water?