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Don't want to be a wet blanket yet again but in the last 8/9 years the bod have been putting out messages that we are progressing but unfortunately,as yet, we still haven't got anywhere apart from the SP has gone down some 90%. A 10% rise in AEX is nice but we need 400%. Just want an RNS saying job done. Will that ever arrive.
no b****y bread either
Exactly matherdj, this is a significant u turn from no 3D till the 25 year development licence to 3D with just the extension licence.
I make the total solo budget around $8 million now, C1 drill, Workovers + 3D
Isn’t this a bit of a kick at solo now that 3D will go ahead without the dev license? Need that cash now.
Would be good to see the monies owed from KN-1
"Kiliwani Gas Receivables
Aminex is in discussion with the Tanzanian government authorities to secure payment of the outstanding receivables owed for gas sales from the Kiliwani North gas field that amount to approximately US$6.7 million (gross) excluding interest. This is finally being progressed after the return of senior government officials who have recognised their obligations and are making efforts to resolve the matter. A meeting has been scheduled and we hope to be in a position to update shareholders soon. "
Backwards in going forward. Usual carp jam jam jam no butter!!
and Budget into the firm budget for the year. The intention would be for the seismic acquisition to form part of the immediate work programme and no longer be contingent upon the award of a Ntorya Development Licence. Under the terms of the JOA, approval from two parties holding at least a 65% participating interest in the licence will be required to move those elements into the firm budget. After completion of the Farm-Out, APT will hold 50% and Aminex will hold 25%. Assuming that approvals under the JOA and PSA are granted, the firm budget will then include the drilling of the Chikumbi-1 well and the acquisition of an extensive 3D and 2D seismic survey. The total value of the contingent elements proposed to be reclassified to firm is currently budgeted at approximately US$40million (gross), for which Aminex would be fully carried. The proposed 3D seismic survey, expected to cover approximately 500 km², would be the first onshore 3D seismic programme undertaken in Tanzania.
https://www.lse.co.uk/rns/AEX/corporate-and-operations-update-d6xhaelf92qtjxk.html
Aminex announces the following update regarding the Company's ongoing operations in Tanzania and other corporate matters.
Highlights:
· APT and Aminex have agreed that upon completion of the Farm-Out and the transfer of operatorship to APT, they will seek permission from the Joint Venture and the Tanzanian authorities to move the contingent elements of the 2020 work programme into the firm budget
· Positive indications in-country that, after a period of reduced corporate engagement, the Government is re-engaging with the international business community to support the country's power demands
· Awaiting formal update relating to (i) the review of production sharing agreements ("PSAs"), (ii) formal extensions for the Mtwara and Nyuni Area licences and (iii) the approval of the Kiliwani-North-1 remediation programme; in-country media reports suggest that the PSA review process is near completion
· Ntorya project progressed such that following approval of the tendering and procurement process, the Company can progress operations supporting the ordering of the Long Lead Items shortly thereafter
· ARA Petroleum Tanzania ("APT") has secured offices and staff accommodation
Tom Mackay, Chief Executive Officer of Aminex commented:
"While we continue to engage in constructive dialogue, Aminex and APT are working diligently to progress workflows such that when the approvals are given, we can quickly move into an operational phase and deliver first gas from Ntorya and begin remediation work on Kiliwani. As of yet, no formal update has been received from the Government of Tanzania in regards to our licences, however we have had positive indications in-country that the Government is approaching a place where it can update the international oil companies.
We thank shareholders for their continued confidence in the project and patience during this time of internal government reform. We look forward to updating the market as and when progress is made."
Ntorya Project Update
The Company has prepared and is in the process of receiving approval from the appropriate authorities to proceed for securing the services required to drill the Chikumbi-1 well. The Company is confident that it will pass another significant milestone in progressing the Chikumbi-1 exploration well.
APT is preparing to become functional in country having taken on offices and staff accommodation in Dar-es-Salaam. The Company, with APT, has met with various local contractors as part of the pre-project assessment of locally available services. Services not available in Tanzania will need to be sourced from the broader East African region.
APT and Aminex have agreed, subject to the requirements of the Ruvuma PSA and Joint Operating Agreement ("JOA"), that upon completion of the Farm-Out and the transfer of operatorship to APT, to request approval from the Joint Venture and the Tanzanian authorities to move the contingent elements of the previously approved 2020 Work Program
Nothing worth talking about.
Says that they are still awaiting permission for Kiliwani remedial work. I thought that had been done and that they raised some money about a year ago to do this. Reading the Rns it is very repetitive and certainly doesn’t give me much confidence regarding the licence.
Solo haven’t even bothered with an Rns as of the time of this post.