We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
yes matherdj, that's right.
" With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. "
Isn't it obvious? The message will remain the same until the next RNS, but my general take was positive.
Matherdj, I’ve emailed them twice this week & alas no reply what did they say? Cheers
Re people saying that the PR/IR company aren't responding - this is complete fantasy. I had a response within the hour. As I said yesterday, it was a pointless exercise in many respects, but dont believe the BS.
I think when the RNS arrives indicating the deal is complete, there will be more meat on the bone regarding forward planning. This RNS may take a little longer than a few days. I am not suggesting for one moment the deal isn't in the bag, lets face it ARA have kept us going.
We also have to remember that with all the documents and paperwork that will inevitably be flying around, legal and admin teams, the right people being available etc, handover of operatorship is a big thing and needs a lot of things to come together. They are probably 90% there. An RNS can come at anytime. Usually if it's final signatures that are being waited for, then news during the day is likely. Similar to the Government approval news.
" With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. "
this now means ARA are in complete control of projects going forward, and what ever talks Solo might be having re; selling/farm-down their 25%, they now have certainty of the project happening, but also they now have a tangible asset/project in which to negotiate a deal, and who knows who that might be with, Went, Orca, APT ???, so a lot going on in the back ground.
Ruvuma Farm-Out - Government Approval Received
"Aminex is delighted to announce that its wholly owned subsidiary, Ndovu Resources Limited, has received approval from the Tanzanian Government for the transfer of a 50% interest in, and operatorship of, the Ruvuma PSA to ARA Petroleum Tanzania Limited ("APT"). With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. "
" With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. "
this now means ARA are in complete control of projects going forward, and what ever talks Solo might be having re; selling/farm-down their 25%, they now have certainty of the project happening, but also they now have a tangible asset/project in which to negotiate a deal, and who knows who that might be with, Went, Orca, APT ???, so a lot going on in the back ground.
Ruvuma Farm-Out - Government Approval Received
"Aminex is delighted to announce that its wholly owned subsidiary, Ndovu Resources Limited, has received approval from the Tanzanian Government for the transfer of a 50% interest in, and operatorship of, the Ruvuma PSA to ARA Petroleum Tanzania Limited ("APT"). With receipt of such approval, the Company anticipates completion of the Farm-Out within the next few days. "
PS Yesterday there were more buys than sells....
If the deal was a dead duck they’d legally have to let the market know, the fact we’ve heard nothing means it’s still being finalised - it’s frustrating but these aren’t normal times with covid restrictions in place - IF it drops I’ll top-up as I’m sure others will.
Apparently the BOD have just woken up under the Board room table, surrounded by a plethora of very empty Champagne bottles as if only a day has passed...
It's only been 7 working days since Aminex got the government approval. Probably needed a couple of days to get over it. Lol. Give them a chance. Organising the transfer takes a bit of time. RNS will come when everything has been completed.
“The deal will not go through” !!!...are you having a laugh? They probably need to arrange a meeting with participants from 3 different countries with legal teams in place, all in a covid environment. This is a multi-million dollar deal.
my guess, what else can we do, is its the 28/10 we're waiting for.
John.. I mention this and the boards bs statement of news in days combined with there inability to answer emails and guess what.... the board shoot you down... many times this company has treated their shareholders like dirt
Meanwhile the deadline induced spike melts away, while we wait and wait and wait.
How unusual - and inept.
an RNS to drop imminently (I may be wrong, could drop in the morning). RNS cost money to publish and I think the next RNS will confirm farmout with added information on future planning. An RNS to confirm the farmout is complete would be a bit of a damp squib. I'm expecting a few weeks before the next material news - only my opinion, could be red faced in the morning.