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new low
You couldn't make some of this crap up.
Most likely trying to shake the weak out and filling big orders in the background. Hopefully lol . Hold your shares boys and girls it's going to rough seas and you really don't want to be out the boat because you may not get back in
Buys not guys :)
Trying to force it down, last three are all guys. Could buy on ig at 0.65 since 8:03. And the last 64.6 was a buy.... fun and games!
Doesn't bode well when orders are filled straight off at the bid price.
It will be interesting to see how the SP reacts today (if at all)?
Am I right, is Wentworth currently the only gas producer for domestic purposes ? They're in the queue awaiting news just like the rest of us so it does appear at least government is showing no favouritism. The exciting bit will be whether producers are able to make a reasonable living.
The gov say that the off shore LNG negotiations will be complete this summer. The question is how much do they impact on the current PSA negotiations for the 11? The bod and the Zubairs seem to think the PSA negotiations are close, possibly before or around the 31st based on their wording. Still they have been expectant before so caution at least advised.
As for LNG V Ntorya gas, the LNG is 8 to ten years from production according to the gov, so the onshore will have to meet domestic and any cross border demand in the preceeding years.
The Government are absolutey in a rush right now on the LNG project, 2nd place to Mozambique or the Tanzanian East african gas Hub?
Ruvuma is small beer compared to offshore. If they are really waiting for the Government to decide on all 11 PSA's, then the wait here is going to be a very, very long time . The offshore PSA's need more scrutiny due to the multi trillions of scuf, so Ruvuma is a mere speck. As the onshore can be drilled and gas delivered far quicker than any offshore production, which is 5 years away or more, then the Tanzanian government should be giving priority and the green light to onshore PSA's much sooner due to gas being able to be brought on stream far quicker and thus the government benefiting . Sounds like the government are not in a rush and prepared to wait this out until they can screw every last drop from the oil companies and maximise there cut. Is it going to be worth it for the oil companies?
I think you can’t read fjones whether by ability or choice. The rns is all about the current extension and the fact they will extend if needed/required.
How does the Government contract and PSA review that impacts all 11 companies with licences in Tanzania have an impact on your green light?
It's not specific to Aminex/ SOLO WEN, Pact etc
Sounds like it's all hanging by a thread and the Tanzanian government are dragging this one out until Ara get fed up. If they were so keen to get gas flowing and the Tanzanian governments cut in revenue then this would have been given the green light by now. Zubair content to extend until 31st October, but must be getting thoroughly ****ed off and sound extremely disappointed. How the hell can they have confidence in ploughing millions of dollars into the project if the authorities are not to be trusted with their delaying and commitment to gas projects. and moving the goal posts. Clearly the Zubairs have asked the Tanzanian government do you even want us involved in this, to which they've had to reply yes of course. Just not now, or yet. Only so much they will take before they will just give an ultimatum to the government, get this licence done or we are off.
I do not think you can reasonable read any of this news as talking about extension beyond October. It clearly relates to extension beyond July. That already is a "further" extension.
The positive here is the Zubair commitment. And that is a very large positive. IMHO
HonestTom nobody knows what the stock market going to do on Monday maybe rally as it close to being issued the Licence ;o) am I reading the Sultan Al-Ghaithi, Chief Executive of Ara Petroleum LLC, said: "We are similarly disappointed in the time it is taking to obtain approvals but continue to be encouraged by the positive response by the Tanzanian authorities to our future involvement in the Ntorya project and content to further extend the longstop date to the Ruvuma farm-out agreement, should it be required" H`mmmm me thinking another extension after October 31st but Aminex saying different, I think one doesn`t know what the other is saying on their statements, at least I`m on for my prediction of 0.68p, the share has held up well in the last two weeks so we must focus on the positives !!!
I have some bought at 6p ! My paper loss is over 80% !
Ave now down to 3.4p - looks like more opportunities ( and plenty of time ) to average down more.
Strange/interesting that previous extensions have been 4 months and this time only 3. You couple speculate in both a positive or negative way about that. Anyway, good news it’s still on :)
Hopefully RNS means that AEX will start to fly within next 15 weeks max. News could still drop anytime .
Correct, it's not bad news, I just don't see it being good for the sp short term.
What’s the idea of those? No volume to trigger that. We’ll see
2 X price monitoring extensions issued
https://www.investegate.co.uk/aminex-plc--aex-/rns/second-price-monitoring-extn/201907191640401835G/
It was exactly as expected for me and it's a great RNS imo, a bad RNS would be no extension and the Zubairs walking imo.
Like this bit though.....extend should it be required ;)
This is not bad news its great news . the zubs are still onboard "should it be required" . sounds like its close but may not be 31st of july . glass half full ???
Lovely time for a disappointing RNS, I expect a drop on Monday. Glad I've held back funds for these lowly prices and not jumped in too soon. My 1p shares looking bad, my 2p ones terrible.
Aminex announces that all parties to the previously announced Ruvuma farm-out agreement ("Farm-Out") intend to extend the longstop date to 31 October 2019 should it be required. Whilst acknowledging that completion of the Farm-Out is taking longer than anticipated, due to an ongoing review of active Production Sharing Agreements by Tanzania's Attorney General's Office, the Company and ARA Petroleum Tanzania Limited ("APT") remain actively engaged with the Government of Tanzania to close out the remaining conditions. The Company will make a further announcement if or when the longstop date has been formally extended.
The principal conditions of the Farm-Out still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship.
Tom Mackay, Chief Executive of Aminex PLC, said:
"Aminex and APT have received, and continue to receive, positive feedback regarding the Ruvuma Farm-Out and the licence extension and look forward to a close-out of the remaining conditions which will facilitate the progression of the Ntorya Development and, specifically, the drilling of the Chikumbi-1 well."
Sultan Al-Ghaithi, Chief Executive of Ara Petroleum LLC, said:
"We are similarly disappointed in the time it is taking to obtain approvals but continue to be encouraged by the positive response by the Tanzanian authorities to our future involvement in the Ntorya project and content to further extend the longstop date to the Ruvuma farm-out agreement, should it be required"