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Any chance some kindly soul at the Agm can update this chat board with the good news tomorrow ? RoJo need not apply thanks
I think so but value others opinions
With this news today from SCIR I hope I am wrong that Ara are waiting for completion of the deal. It would be reasonable of them to wait, imho.
There may be a glimmer of light within today's RNS as it does contemplate payments being triggered faster under the deal because of progress on the ground and with the development. Which reads to me as though SCIR are not expecting Ara to wait for the deal before progressing. For what that is worth.
I agree totally I have never shared the opinion that the Scir completion would have any impact on ARA's plans or timings. They will end up with the 25% hook or by crook, so why sweat it?
Crusty, while SCIR could well end up with less than they had bargained for - that is pretty much an issue between them and the Tz tax people.
Given the lack of leverage that SCIR have over the Tz's, I doubt there will be much scope for negotiation. Certainly, I don't think ARA will see it in their interest to fight in the SCIR corner.
While it could delay our progress, it won't have any substantive effect on it, I think.
Thanks RoJo. I sense you are a step nearer the exit.
Tanz, I have to say that I have absolutely no desire to be anywhere near your 'crown jewels' let alone steal them.
More delays ?
Surely not ?
So much for the new "investment friendly" environment in Tanzania eh? No has changed it appears AEX got raped an pillaged by Tanz tax authorities on their disposal and it would appear that SCIR are about to get the same.... What is tat saying about Leopards and spots?
If, as many here have suggested (I disagree) further progress on Ntorya is contingent on the SCIR sale completing, it would appear that we could be waiting until the end of Q3 before it even starts, let alone finishes....
Scirocco and ARA Petroleum Tanzania (APT) have executed amendments to extend the longstop date of the proposed transaction from 30 June 2023 to 31 August 2023. Although Scirocco has continued to make progress with the Tanzanian Revenue Authority ("TRA") regarding obtaining tax clearance for the divestment of Ruvuma, Scirocco and its counterparty agreed it was prudent to extend the longstop date given this process is taking longer than expected.
https://www.londonstockexchange.com/news-article/SCIR/corporate-update/15971481
Umpteen IDs ?
You're totally wrong, but it's no surprise as you're wrong about everything else.
That is the way of keyboard warriors sadly, all the snipes are from behind screens and never face to face. No time to attend, but time to manage umpteen IDs on a daily basis. Still, if he keeps it up, he might get a job on the verify team. They like agendas
Well I think prosciutto's 'reality list' is very good. Much better than drewky's alternative effort.
It's a great shame that you can't see the validity and veracity.
Hey ho, I guess you are all too emotionally invested, not to mention nursing big losses.
Truth hurts eh guys ?
Whatever would be the point of attending the AGM ?
We won't learn anything new. We will be told the usual expectations and targets, and excuses for missing them.
One or two of you will stand up and criticise, but to no avail as you will be ignored as in previous AGMs.
Go ahead and waste your time if you wish. I've got better things to do.
Very Strange times and some may say we are being manipulated by Proscuitto and a pimp. Why ? Possibly a grudge with Ara or similar, but all intended to steal our 'Crown Jewels', the Ruvuma Acreage for next to nothing. The very reason I invested here so many, many years ago. So what's in their way ? We have an agreement that Ara et al are obliged to drill CH1 well, come what may. Thereafter, I would ask those much wiser (and younger) than yours truly to take things forward, asking for Ufofou in particular to kindly help protect our investment. Bless you for any help and guidance. Tanzania.
Lovely, what a nice thought an AGM without those two or is it just one, lol, I mean who really cares or gives a monkey. Lol . Maybe they'll arrange for some exciting news to break, prior to the meeting.
Well since the AGM has been mentioned you can be 100% assured of one thing.
1.0 There will be no RoJo in attendance
2.0 There will be no Prosci in attendance
3.0 There will be no ProsciRoJo in attendance or any other of the previous and or current user names ;0)
Seems like Prossie whatsit is on a misinformation campaign, but I wouldn't trust BBC to seek out the agenda because they have enough of their own.
However the only information that matters, is that which comes from official company sources as below. If that changes, I'll be happy to amend the list, but until then everything he and his author state is complete speculative nonsense.
First Gas still expected October and according to May RNS and the GSA and the FFD contracts are imminent."
The following expected during the interim period.
Pad Location decision - TICK ONE
AGM announcement imminent
NT2 flow test results
Scirrocco deal complete
3D results
Gas sales agreement
FFD sign off
25 year development licence
Ch1 pad construction
Rig contracted Spud date
Drilling of 3rd appraisal well
NT1 well workover
Pipeline completion
First Gas Production from NT2
All fully funded and all due this year!
Personally I speculate spud will take place a this year but after first gas. I believe they are waiting for a specific rig currently in a neighbouring country which is planned to be spudded around August time
Future:
Farm Out of Nyuni License.
Recent Addition with an unknown timeline
The government shows confidence in asking Aminex to Farm out rather than relinquish the Nyuni area as planned. Meanwhile neighbouring Orca continue with 3D seismic over Aminex prospect with their results due later this year helping to define Aminex position further on the license. Speculating that would put Orca in prime position for a farm in, but if significant finds are made, it may tempt ARA to come in on that license as well as Ruvuma.
6. Earnings per share is negative"
7. Cash flow per share is negative."
8. Working capital is negative."
9. Yield is zero per cent"
10. Prossywotsits reputation on anything Aminex minus 10 per cent. : )
The " Reality List" ...... not the silly list.
1. " Production by October is nothing more than a pipedream." 1. Prosciutto
" if the pipeline IS complete and operational by November 1st, I will sell up and never post here again, BUT you must agree that if it is NOT complete by then you will do the same." 1. RoJo
" Do you honestly believe those timelines will be hit?" 1. Crusty Pete
" I expect a delay of at least 6 months as I do not think the pipeline will be ready as soon as predicted. This will put additional pressure on liquidity that will require some sort of funding, equity or loan." 1. High Yield
2. Aminex requires some sort of funding, equity or loan. Contingent reserves don't qualify as appropriate loan collateral, so it will have to be equity. This massively obese structure is about to become grotesquely obese. Dilution tends to cause weakness in share price. The big unknown is, how far will the share price have to drop in order to entice the gullible to partake in the new dilution?
3. The KNDL seismic project timeline is delayed by at least a year. Orca Energy Group has US $93.1 million in cash / cash equivalent. It is a reasonable assumption that Orca Energy Group could be the KNDL farm-in partner. The delay of production from KNDL would be an annoyance for Orca Energy Group but, without that same cash cushion, any delay would be serious for Aminex.
4. ' going concern ' ...yes, but how much longer? The brick wall is getting closer.
5. A co-venturer could run down the clock a little longer to end up with the remaining 25% of Ruvuma for a song.
6. Earnings per share is negative
7. Cash flow per share is negative.
8. Working capital is negative.
9. Yield is zero per cent.
10. No 'sane' qualified investment advisor would dare give this a "BUY" rating.
ad infinitum
At the Annual Meeting, it will be interesting to hear how management plans to make a silk purse from a sow's ear. The challenges are formidable to say the least.
Own up RJ. Youi don't want the progress, do you ?
(watch out for a sardonic, slippery reply)
Communication has always been weak.
The SP is dropping, and will continue to do so until actual progress is made and items listed in the March update completed.
Want to pull more than their finger out,
Even it goes up 30 percent it only brings us up to where we were not too long ago.loads of news to come but as usual deaf silence,come on aex pull your fingers out.
Agreed CP.