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I wouldn't say this was a transformational RNS but it's a good update of transformational things to come.
Late reported largest trade of the day so far from 8.13am a Buy of 1649000 at the highest price of the day 1.2p.
Seen it many times where transformational RNS lands - takes a few days for news to be soaked up - then sp goes on a steady climb - often doubling
7.5% is a rather disappointing reaction if this RNS is actually as positive as you guys think.
Let's hope it doesn't start to slip back eh ?
We received updates on all matters and complete clarity on progress and next steps.
That the seismic survey was able to optimise drill location and that a complete resource update is expected
Along with lots of other important updates
Entering the home stretch imo
"The Gas Sales Agreement ("GSA") in respect of the Ntorya Gas Field has now been agreed among the JV partners and the Tanzania Petroleum Development Corporation ("TPDC"). Signing of the GSA will take place upon approval by the Attorney General's Office."
"The Field Development Plan ("FDP") for the development of the Ntorya Area has now been approved by all parties."
"The Development Licence for the Ntorya Area has been approved by all relevant Tanzanian authorities and has been submitted to the Cabinet of Ministers for final authorisation."
"We are also pleased to report that APT is making great progress, including finalization of the GSA, FDP and the Development Licence"
So Cabinet of Ministers approving one, Attorney General's Office approving the other.
The above, plus the pipeline construction starting soon, tells me that the Government cannot wait for the SCIR 25% purchase to complete. How can they build a pipeline for a project that's not been signed off yet? In my view they cannot, so the signing will go ahead regardless of the SCIR sale status.
If SCIR deal was holding back our project the Government would just get the SCIR deal signed off today to make way for our project. But the SCIR deal appears to be fairly open ended, already moving the long stop date to end of August and could be extended again, but most importantly it is a deal that SCIR stated in RNS cannot legally be terminated, so it makes no difference how long it trundles on, it can't hold up the project as it's never going to be reneged on by either side, they have no way to legally renege on it, so just get on with our project and that deal will complete whenever it completes.
“the RNS gives absolute clarity on many things that the deceivers were trying to create doubt over.”
Spot on - that’s exactly what it has done.
Keep clutching those straws Aimster, you never know you might even get one someday.
Come on Haggis and Jolly, reel him in.
Wowzers
That’s one comprehensive and positive update
It's pretty simple. No signatures, no gas. Government need gas. So sign.
Aimster, what about the pipeworks recently delivered to APT for the CH1 well. Is this true or fake do you reckon ? Go on, have a guess !
Jolly … can we both agree that everything is just agreed but NOT approved.
Signatures in short order, imminent, etc. where have I heard that before?
Yawn...
What on earth are you getting excited about guys ?
More of the same old stuff.
I'm looking forward to prosciutto later.
I get the feeling aimster is only aiming to deceive.
Unfortunately for them the RNS gives absolute clarity on many things that the deceivers were trying to create doubt over.
Who to believe, the company issuing information via a regulatory news feed, or an anonymous keyboard warrior with no claims that can be verified? Hmmmmm!
This is progressing well towards the drill. A number of issues in final sign off with the Tanzanian Government. I believe as I have said before that AEX are wanting to get Government approval to complete the purchase of SCIR’s 25% before they drill. They have leverage at this point which they are using to good effect. It’s not mentioned but I am pretty sure the Government know it’s the Elephant in the room.
Well received RNS Up 7.5% and Number 12 on the Leaderboard.
should i even bother aimster, you only need one hand to count three more ticks and one two month delay.
are you blind or just being an ****?
the most important ones are the regulatory ones passed. gsa agreed. ffd agreed.
go to the back of the class and don't come back out untill you've grown up 🙄
Also it's ARA, a huge company with big money, big clout, and big suppliers, it's not the AEX of 5 or 10 years ago, a tiny small cap operating on a budget and trying to get a rig as cheaply as possible. The project is now being run by a professional with no corner cutting or begging for a cheap rig.
Ahh okay thanks guys thats a shame!
The HE1 rig doesn't sound like what ARA will want. It sounds old, had to be confirmed as still working, only seems good for 2000 deep.
ARA will need a big beefy modern rig capable of drilling through potentially very thick very high pressure gas zone. Likonde-1 had to be stopped because of the pressure, NT-1 they had to use higher mud weights to survive the pressure and that damaged the well bore so now it needs a workover. The last thing ARA want is to have any issues with the huge pressures the rig will encounter, so I expect them to get a more than capable rig that can handle it. I don't see the HE1 rig as being suitable.
Obviously optimising CH-1 has also caused a delay in signing a rig.
Why not No Aimster as well ?
BC 2504…. The HE1 drill doesn’t go deep enough
I get the impression APT have been holding off the rig contract until the Tanzanian authorities agree/sign the GSA, FDP, and development licence. Hopefully it's given them some clout to get a good GSA, and that now they have all agreements ready for signing they will move quite quickly to sign a rig.
Roger, yes, could be those long lead items and ARA clearing space for more. Seems odd to put stuff there when they have the old CH-1 pad and base camp to store stuff at, which will be closer to the new CH-1 pad than NT-1, so might still be pipeline equipment related.