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RJ you say "...back costs to pay in one form or another would they not?" Yes absolutely, in principal BUT reality dictates and the TPDC would be highly unlikely to dip into their, very empty, coffers; I would fully expect their contribution to historic and future costs to be funded from their share of future income streams. TW alluded to this back in July.
An FFD would be a combination of both. Although you develop the field, each drill is in fact an exploration and although the chances of hitting the target on now very high, no drill is guaranteed to produce.
At least, that is how I see it.
Yes Crusty that was my thinking too (I don't think they have the cash) but I had forgotten what TW had said.
Basically Umaz an Exploration license gives the holder the opportunity to go and find gas or other resources with the expectation that, once they find it and enough of it, they can then apply for permissions and terms agreed with the Tanzanian Agencies to "exploit it". Exploiting it requires whole raft of additional requirements and obligations - to agree a plan for a work programme that drills or otherwise extract the asset, an infrastructure to get it to market and planning permissions, compulsory purchase orders and compensation for people affected by it etc etc
For anyone interested, Tanzanian president appearing on TRT channel 513
Re, Turkie Conference, , future invest deals to be discussed tomorrow, nothing about energy though.
By the way RJ just to point out that NT2 would not have been an exploration well as NT1 effectively "found" the reserves that NT2 would be drilling into - NT2 was to be an appraisal well. When NT2 became CH1 (drilling into the Jurassic targets) it reverted to an Exploration Well as it was "exploring" a target that had yet to be discovered or proven to exist. Now that these targets are no longer being explored it will revert to an appraisal well. NT3, 4 all the way to #8 will be appraisal wells; they will be appraising what they already "know" to be there. Only once they go outside of the fan basin that they have "proven" will those drills revert to becoming exploration wells.
At least that is my understanding.
Sounds plausible. I expect all will be revealed in the upcoming news flow.
Sorry RJ obviously I meant when NT3 became CH1 !! ;0) Sorry.
The Albian MTC mass transportation complex prospect as highlighted on ARA`s website is what most excites me as it looks a huge prospect!!!!!
I noticed but knew what you meant π
All the required agencies have approved the licence and they have submitted to the cabinet for final approval. Signing a gas sales agreement with Tanzania Petroleum Development Corp. (TPDC) in April, APT reported the issue of the licence was imminent.
βThe authorities also expressed the importance of energy security for the country and its people. With this latest seismic data showing a significantly larger gas resource and with well matured plans to extract the gas for domestic use, we have every confidence of receiving the licence and progressing our work,β said Aminex.
Dkt. Doto Biteko is not just the Deputy Prime Minister, no, not just that, he is also the Minister for Energy, so if anyone knows the Licence has been granted, it is him, and he's the one that told the press.
How long from sign off to delivery to ARA is the only question.
...I think you've told us that Haggis (about 40 times).
This is Tanzania, there has to be a photoshoot. Say cheese π
Most likely Monday but watch out for an intraday
Looks like we're going to be getting morning tree shakes until the RNS drops. Cant imagine people want to be out for the weekend so I expect we will finish blue
Thinking of the ideal release time. π€
11am today could bring big movement and make news in the weekends financial press that will bring the herd for a massive rerate on Monday.
Any thoughts on best time?
Tbh as long as all the I&Ts are dotted and crossed I can wait.
Staying Jolly like Roger seems a good way to go here.
..And I have no problem staying long and strong here around now, but understand that this stock, like most others, will have its fair share of bedwetters involved too...
Free world that it - mostly/kinda - is, it's not for me to scorn anyone for bed wetting, even adults.
Well Jollyboy - you've got no choice other than to wait, and wait, and wait, and wait...
If they are doing a signing ceremony, from memory the last one (the GSA) kicked off the share around noon UK time...
I still don't care though ;). It is when not if.
...so sayeth poor old Under Water Eddie !
Were you not underwater needing 4p at one time RoJo?
Now it seems to be 2p so it seems you have been buying cheap on the sly π
I do not expect anything now until after the Energy show is complete largely because before we get an RNS and, as emptyend pointed out, ARA will need written confirmation of the 25 Year Dev license completion before ARA can release the news to AEX and AEX can release that RNS. With so many "prime movers" at that show/conference I suspect little will move until everyone is back "at their desks" - plus there is the issue of the RNS "approval" before release.
Though as Edgar says and I agree, it is only a question of when and not if we will get it. I am also sure that it will have a positive impact on the sp - though quite how much of an impact is likely to depend on what, if anything gets announced with it? As emptyend has pointed out it could come with a slough of additional activity or pointers to the timelines for such activity. Anything will help - with the possible exception of confirmation of the execution and extent of any uptake of the TPDC's back-in rights. That could have the effect of a considerable dilution.
Dr Biteko who also doubles as the Minister for Energy
According to him, the Tanzania Petroleum Development Corporation (TPDC) and its partners have secured a license to conduct natural gas exploration at the onshore Ntorya gas field in Mtwara region.