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my understanding is that all the existing licenses will be scrapped and a new license will be formed which will involve the tdpc zubs and aex as the operator. Can see it dragging out for months. Although jay did say that they expect the farm out to be completed second half of year so lots of ????
As regards to funding wouldn’t it be better to drill a well near kilwani south as it’s closer to the plant? Also ntyora will need 3 wells to warrant a pipeline so the tdpc will want that well drilled before the license is issued. Aex haven’t the cash to complete this fast enough but the zubs do
So where do you get the idea we will have a three way operation? The why I read TPDC suggested to apply for a completely new license rather than extend a previous one. I'm guessing may be for longevity reasons as I imagine any extension granted would be for a shorter period of time than would a completely new one. Personally TPDC recommending such things could be seen as a positive. It has already been clearly stated that they intend to drill this year and that drilling Ch1 is not reliant on the licence. So what in their statement tells you it's going to be 2019? You also say "ntyora will need 3 wells to warrant a pipeline so the tdpc will want that well drilled before the license is issued" well for one thing they already have two of them drilled and for another TPDC as we understand have already agreed the development licence and have recommended the application for government approval. I say that with conviction because it is a clause in agreement ment that TPDC have to approve all applications first. Therefore it is the redtape of governmental haggling that is the likely hold up and perhaps not that of the TPDC
The way things look one has to wonder whether it will happen this year. Lots of delays etc. Clearly I would like to see it happen but considering we haven’t had spud date yet let alone a rig contract I’m just being cautious and throwing some ideas out there. Maybe things will start to move rather quickly soon but I doubt it
I think we should wait until the AGM before putting out scary predictions willow. As I said last week when you tender to provide a service or do some work you price it up based on a time scale and you wouldn't commit yourself to a price this year and hold it to next. If the tender is sorted by end of June I think we will safely see a drill this year. August the earliest I would think but maybe Nov/Dec.
I need this to come good, all this lark about only put in what you can afford to lose, well I haven’t done that so come in jay in the words of delia ‘let’s be avin you’
Then do yourself a favour willow and stop looking for the worst in everything, it won't do your nerves any good
I’ll take that on board drewky. Seems aex and solo are getting hammered of late and it’s most unwelcoming. Can you hear that............. the winds of change
Extract taken from monsters university lol
An extension Drewky would apply from the date that the last one "expired" and so be half way through already as it is already over 18 months "out of date". More importantly the License concerned was an Exploration License whereas the more recent Ntorya License was an Appraisal License; the BoD have already stated that as the two areas are geologically joined and thereby, to all intents and purposes, inseparable they were looking to bring the two licenses into line. When new licenses are created the operator usually has to pay for the concession, so this "new" license might just be an excuse for the TPDC to get more money out of AEX; I am sure that AEX would like to flower it up as an extension and thereby avoid additional costs. Maybe they will get away with this one. Time will tell I guess. I personally would expect the Ntorya Development area to be separate from the other areas, whether that be one or two - so it will be interesting to see what it is that the Zubairs are looking to farm in to. One, two or all three licenses.
It seems Pete that whichever way we look at these things we always find more questions than answers. Hopefully the AGM will put us all right
If you were the Zubair Corporation / ARA what would you be looking to farm into: especially when the companies looking for a farm out are caught between a rock and a hard place.
At last yea's agm the board set a few priorities such as lodging the licence application, get a CPR completed, monetise N2 and drill N3, as it was then called. One and two have been sorted and we wait for the others. The thing is, Aminex can get its owm work done but anything that requires the TPDC or the Ministry of Energy to have an input is very dependent on the mood of those bodies. Who would have thought that 12 months on we are not much wiser about KN1. Yes, we are going to re-drill, but when? Or that we still don't know if we have sourced a rig or not for CH1. At the agm it will be difficult to pin down BH and JB on specifics, so questions will have to be detailed and direct. In any case, when push comes to shove, what's said at the agm can quickly be sidelined in favour of whatever the board deems necessary and preferable. I hope those who can attend will have pencils and questions sharpened. A board always has a certain amount of advantage over the holders in that they have information and thay have time to prepare answers to tricky questions. GLA
well as said before, i'm with the board and a'm expecting for the Mtwara PSA Licence to be extended and soon, and once granted (the Mtwara PSA licence) becomes the basic document for negotiations between foreign oil companies, the Government and the TPDC, in other words it is the essential document that allows all concerned to negotiate formulate a Development licence, It is the document that sets out the terms under which exploration and production can take place. prelims " The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised." "During 2016, Aminex received formal ministerial approval for a one-year extension to the Mtwara Licence, to January 2018 and expects to be granted a further extension to the Mtwara Licence. Although the Lindi Licence technically expired on 28 January 2017, negotiations are in progress. The Board had expected an extension to the Lindi Licence to be granted but subsequent discussions with the TPDC indicate the likelihood of being able to formalise an entirely new PSA in conjunction with the TPDC, which would enable further development and exploration to be carried out in conjunction with the Mtwara Licence area". Model Production Sharing Agreement (MPSA) "Tanzania's Model PSA serves as the basic document for negotiations between foreign oil companies, the Government and TPDC. It sets out the terms under which exploration and production can take place." Http://www.tpdc.co.tz/legalservice.php
I have to say, 2017 was like eating strawberries everyday. 2018 is like eating sawdust. Very boring year for the company to date.