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Mr Moi - how on earth do you know I have two families ?
Normally, it's bath, early night and cuddle isn't it ? Or have I got that wrong ?
Oh dear Rojo has somebody rattled you today? Digging deep there aren't you, name calling and nosing about at my other holdings.
One tick Mick regularly got rattled.
Drewkyboy - I don't mean to be unkind, but to read your posts, one could get the impression that you are an investment guru and a stock-picking genius.
And clearly, you're not.
Some humble honesty wouldn't go amiss
I don’t believe that is rojo. Why would he want two accounts to manage when he says what he likes anyway? So much effort. Like people with two families, crazy amount of effort. If it is him, he needs a cuddle and a bath and an early night.
Though I only now note that we had a UT trade of 1 share after hours and above the "offer" - so I would not be totally surprised to see that RNS tomorrow.
Well email, in truth I have nothing more to say than hasn't already been said many times over and if you think I am going to waste half an hour reading through 40 something emails of total conjecture, point scoring and other "noise", then sorry, but you can forget it. I have laid my stall out; do I believe the recent "comms" from the Tanzanian top brass? Yes though it is only a precursor to the "real deal". Would they say that it has been approved when it hasn't? No! Though that doesn't mean that all is now over the line - as emptyend sated last week, without written confirmation, firstly to ARA and then from ARA to AEX the BoD cannot release an RNS. Will it come? Yes, I believe so. When? Soon - though this is Tanzania so "soon" could mean a little longer than we might expect closer to home. If you were to ask me when I expect to see it, I would "guesstimate" end of next week or the beginning of the following after.
My holding is now "complete" so, do not read any more into this BUT I am now reverting to "HOLD" - simply because that is what I am doing....
How are your other 'investments' doing drewkyboy?
Have you thrown in the towel on Helium1 yet ?
Beacon has gone pear-shaped too I think ?
You can't even get that right drewkyboy.
I didn't say that I would sell up at 1.50p, I suggested that some could do worse than consider it.
When was the CPR commissioned ? Surely more than 2 months ago ??
Without it, I don't see the SP going anywhere.
Gazgirl, drewky, bigpot and perky ?
Well, well well...
The entire gang of four have logged in today.
Well u miss me or what?
Using his other ID?
Nevermind Rojo if true to your own words, you will be gone at 1.50 and that is likely to come the day of the RNS and maybe even tomorrow, so you won't have to worry yourself too much longer. The CPR will then be of no consequence to you.
For those sensible enough to build their holding, only a fool would expect a CPR in two months, when it took over twelve months for the 3D to be analysed in full.
Yes Jollyboy - the word 'potential' appears many times (too many times!).
I'm wanting a few actual facts and figures stated by an independent consultancy (hence the importance of a properly conducted CPR)
Honestly, if ARA said they'd found little green men living at Ruvuma you'd believe it.
91joyo ?
Answer 1. No far too early for that.
Answer 2. All the detail you need is in the ARA presentation on the Aminex website.
That should help you 😁
Weren't we expecting a CPR ?
and some detail from the 3D seismic would be useful...
Application was submitted in 2017 for a 25-year Development Licence to permit development and further appraisal of the Ntorya Field.
RPS Energy completed a Competent Person’s Report (CPR) for Aminex in 2018 and estimated a gross Pmean of 1.87 TCF gas-in-place with 763 BCF gross recoverable gas of 2C Contingent Resources associated with the Ntorya Discovery. In July 2018, the Company agreed a farm-out of a 50% operated interest in the PSA to ARA Petroleum Tanzania Limited (APT), a wholly owned subsidiary of ARA Petroleum Limited, itself an associate of Eclipse Investments LLC, who then owned just under 29% of the issued share capital of Aminex PLC. In return, the Company received $5 million and a carry of up to $35 million of its costs for its retained 25% interest in the development of the Ruvuma asset, equivalent to a carry on the first $140 million gross expenditure on the project. The farm-out completed and operatorship transferred to APT in October 2020. APT also acquired Scirocco Energy’s 25% interest in Ruvuma and now has a 75% interest.
29th February 2024 RNS
Ruvuma Seismic Update
· 3D seismic improves Ntorya gas field volumetrics and reveals enormous wider potential
· Operator's geomodelling significantly increases Ntorya GIIP to 3.45 Tcf
· 3D seismic reveals considerable upside for Mtwara Licence with total unrisked GIIP of 16.38 Tcf
Charles Santos, Executive Chairman of Aminex commented:
"Completion of the 3D seismic data interpretation is another important milestone for the Ntorya gas field development, and I am delighted that the results are so positive. The quality of the new 3D seismic dataset was excellent giving the JV partners the ability to map in detail the Ntorya gas discovery, refine volumetric estimates and provide the basis to locate future appraisal and development drilling targets. We are particularly excited by the significant potential gas volumes now identified in other untested structures within the licence area. To place these volumes in context, the Ntorya accumulation is potentially the largest onshore gas discovery in East Africa and, with the sizeable new exploration targets, should be much less expensive to exploit than offshore resources. Further announcements can be expected detailing a future programme of drilling and an associated schedule to commercialise these exciting new opportunities and add further value for all stakeholders."
https://www.lse.co.uk/rns/AEX/ruvuma-seismic-update-onc65upi3b8jp5q.html
From today's Tanzanian budget speech by the Energy Minister "Cabinet has approved the issuance of a license for the development of this Block where the procedures for the issuance of the license to TPDC on behalf of the investor (ARA Petroleum Company)"
Crusty’s opinion is worth more than Stockcheque’s, this is a ubiquitous fact, universally agreed by all in the know.
Rojo is a counterbalance to the Prozac crowd. Like the Joker to Batman, he wouldn’t need to exist were people not dileriously quoting £1 share prices and complaint about the share price going back down on rumours with not back up. This stock is acting exactly as it should, upswings on rumours, stock dump when there is no news. It’ll all come out in the wash and when a rumour is backed up the share price will stick and that will be the new plateau. Boringly predictable!
Bigpot - you probably mean prosciutto, not prosecco.
Watch the SP is my advice !
Kid you he’s not Prosecco,and what’s up rojo has Ufufuo hit a nerve after the drivel you posted earlier or was it Prosecco ????????
Thanks Bullfrog. Well found. I's all go as we suspected. RNS incoming after that.
Translated from https://www.parliament.go.tz/uploads/budgetspeeches/1713966417-Hotuba_ya_Bajeti_ya_Wizara_ya_Nishati_kwa_Mwaka_wa_Fedha_2024_2025.pdf
112. Honorable Speaker, this project involves development of natural gas discovered in Ntorya area in Ruvuma block. Until March, 2024, the works carried out include completing the interpretation of the 3D system seismic information collected in an area of 334.9 square kilometers and continuing with the preparation of repairs and
well tests for the Ntorya 1 and Ntorya 2 wells .
In addition, the Contractor is continuing with the purchase of the Chikumbi-1 well boring plant.
Likewise, the Cabinet has approved the issuance of a license for the development of this Block where the procedures for the issuance of the license to TPDC on behalf of the investor (ARA Petroleum Company) are
being completed.
113. Honorable Speaker, preparations for the construction of a pipeline to deliver gas to Ntorya
The Madimba gas processing plant is underway where the Environmental and Social Impact Assessment (ESIA) has been completed and the Engineering and Construction Lead Consultant is completing the
engineering feasibility study to enable the pipeline construction tender to be announced
"A founder of Ruvuma, the largest onshore gas project in Tanzania."
"Committed to energy security and Prosperity for the people of Tanzania"
"Fuelling Tanzania's economic development and bettering the lives of its people through natural gas"
"Bringing reliable and cost-effective energy faster and cleaner for decades to come"
All the PR noise say's it is happening. The last two paragraphs particularly could not get past the nomad if it weren't known to be happening, as it would be seen as blatantly misleading.
The RNS is surely on its way
Prosciutto wanted you to believe that the 3D seismic results were going to be terrible! I know!! This one is an absolute peach :-)
Prosciutto said (just one example!): "The 3D seismic interpretation is supposedly finished. So, why the delay with releasing the interpretation? Their thesis being that there will be a 'World Class' reservoir present. It is fairly easy to avoid a fraud but what isn't easy to avoid is the failed, honest efforts with a good target, with good people and with a good thought-out thesis. But what happens if their thesis is wrong? Is it possible they haven't found that 'World-Class' reservoir? ... mais oui. It is one thing being sanguine about the risk involved but what if there is no 'World-Class' reservoir present? Are you prepared to absorb a collapse in the risk- adjusted NPV?
Need I remind you of the results of the 3D seismic results that then followed? If you insist! :-) The headline figures were:
"Operator's geomodelling significantly increases Ntorya GIIP to 3.45 Tcf"
"3D seismic reveals considerable upside for Mtwara Licence with total unrisked GIIP of 16.38 Tcf"
According to Encyclopaedia Britannica, gas fields of 3 to 30 TCF are classified as “World-Class Giants”. Unquestionably World Class then. Better than that, a World Class Giant! This is significant. Encyclopaedia Britannica explains that “supergiants and world-class giants represent less than 1 percent of the world’s total known gas fields”
Lastly, let’s remind ourselves of what our leader, Charles Santos had to say about the 3D seismic results and next steps:
"We are particularly excited by the significant potential gas volumes now identified in other untested structures within the licence area. To place these volumes in context, the Ntorya accumulation is potentially the largest onshore gas discovery in East Africa and, with the sizeable new exploration targets, should be much less expensive to exploit than offshore resources. Further announcements can be expected detailing a future programme of drilling and an associated schedule to commercialise these exciting new opportunities and add further value for all stakeholders."