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"nothing ever happens quickly..." ?
err...nothing ever happens.
BG, now we are talking about Tanzania, how many years have we been waiting? Nothing ever happens quickly even with ARA/Zubs onboard!
All I can say is that it will happen when it happens, and that advice is no use at all!!!!
Yes SQ320, but I'd be amazed if that lists anything new other than the date of the AGM.
Looking at my filtered posts - utter guff at a guess.
Able to login since lse updated the weekend, don't know if I've missed anything. : )
We are getting a lot of comments re ongoing streams of work - will be nice to see some progress backing that up.
Atb,
Northern
The next RNS will be in the next two weeks or so and it will have the date of the AGM, which has to be held before the end of June. Companies have to give a min 4 weeks notice of an AGM.
Yes, that's the silly list - do you have others ?
You chose not to respond to my question about the next RNS.
My view is that it won't be until August, and it will be full of excuses as to why everything is delayed or postponed.
Is this the one...
"Thanks for th elist Roger
First Gas still expected October and according to last weeks RNS the GSA and the FFD contracts are imminent.
The following expected during
Pad Location decision - TICK ONE
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!
Future:
Farm Out of Nyuni License.
Newly Added 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.
Never mind the waffle, all the above is from official sources."
That CPerkin is no fool.
Now look what you've done !
You've got other posters copying and pasting your silly list !
Next RNS at the end of the month ?
What makes you think that preacher ?
Thanks for th elist Roger
First Gas still expected October and according to last weeks RNS the GSA and the FFD contracts are imminent.
The following expected during
Pad Location decision - TICK ONE
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!
Future:
Farm Out of Nyuni License.
Newly Added 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.
Never mind the waffle, all the above is from official sources.
I forgot it was Wednesday. Short and sweet this week, must be running out of things to say.
Accounting 101
USD ( 000 )
Total Current Assets 7 127
Total Current Liabilities 9 917
Uh oh
This requires money just to remain a 'going concern'.
Are you prepared to throw good money after bad?
Keep a close eye on the Tanzanian Tax Assessments. These folks will want their money and Aminex simply can't pay the amount they owe. What you have to be concerned about is what the Tax Department is prepared to do to ensure payment. The Tax folks tend play hard ball. You had best hope they don't seize the company for non-payment.
Wentworth received a 30% premium to market when they elected to be bought out. Wentworth had significant production, significant cash flow and significant exploration acreage ... much better shape than Aminex. With no GSA, this 30% premium for Aminex would be a godsend gift and a very lucrative option if they can get it. Any further delays and that 30% premium could quickly become a 30% or more discount.
Found this, which may or may not have had a delaying effect on those tests. Reported 20th March in ALLafrica "Tanzania Meteorological Agency (TMA) has issued a warning for severe weather including heavy rains for five days over some areas of Dar es Salaam, Coast specifically in Mafia Isles, Lindi, and Mtwara regions. The rains are likely to affect some economic activities and localized floods. The TMA advises residents in the mentioned areas to get prepared."
I confidently expect news on that in the next RNS, (end of month) but would be disappointed if not. The key thing and big trigger for me is the GSA and FFD agreement
1.work over end of March,where is it.
Good list Roger.
Given that I have been here for over a decade it never fails to amaze me how the patience wears thin as the finish line is in sight. These are the hard yards!
First Gas still expected October and according to last weeks RNS the GSA and the FFD contracts are imminent.
The following expected during
Pad Location decision - TICK ONE
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!
Future:
Farm Out of Nyuni License.
Newly Added 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.
Never mind the waffle, all the above is from official sources.
I wonder what excitement awaits us this week ?
I can hardly wait...
Progress reports?
That's a novel idea.
No, you won't find any pipework tenders mate.
SCIR news needs to be sorted first, then we'll get progress updates. Friday RNS put out somewhat under the radar and nothing price sensitive, quite deliberate. Just my opinion. Haven't found any pipework tenders yet.
I thought the NT2 was going to start as stated in an earlier RNS at the end of March. Thought we would have had some news about this by now or at lease soon. Let's hope the other planned activities don't get plagued by delays as has happened here in the past.
Atb,
Northern
Thanks for that ICB888, I certainly missed that one. Definitely sounds as if things are progressing, albeit not as quickly as we'd like.
It seems investors missed last Friday’s RNS which was unfortunately released after the close on a Bank Holiday Weekend.
Here are the highlights which clearly support a higher share price:
“ Outlook:
• The operator of the Ruvuma PSA, ARA Petroleum Tanzania Limited ("APT") continues to progress operations at the Ntorya field, with the following planned for 2023:
o Two-week well testing programme on NT-2, utilising a mobile testing unit, principally to sample the gas and establish an accurate measurement of the gas composition, required for the design of in-field processing facilities and the export pipeline to the Madimba Gas Plant
o Conclusion of negotiations and execution of a Gas Sales Agreement
o Finalisation of terms for the construction of (i) an export pipeline from Ntorya to the Madimba Gas Plant to accommodate gas by October 2023; and (ii) in-field gas gathering and processing facilities
o Entering into a rig contract to (i) drill, test and complete the Chikumbi-1 well ("CH-1") as a gas producer; and (ii) workover and recomplete the NT-1 well as a gas producer
o Following the processing of 3D seismic data, an optimal well location has been determined for the CH-1 well
• APT has also submitted a near final Field Development Plan to the Tanzania Petroleum Development Corporation which, upon approval, will lead to the issuance of a Development Licence for the Ntorya field
• Orca Energy, though its subsidiary, Pan African Energy Tanzania, has commenced its 3D seismic acquisition programme over its Songo Songo licence which includes an incursion of 12.5km² over part of the Kiliwani North Development Licence ("KNDL") at no cost to the KNDL parties. The acquisition programme is expected to be completed by Q3 2023.”