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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.
Are you guys reading the same RNS? Still Jam tomorrow. No signatures. No CH-1 drill date and no more ticks on Jolly’s list.
Rojo will have a field day here when he wakes up.
SC as we were discussing last night and last week the image sequence showed something building up inside the NT1 compound
BW, good point on the 12 months ahead of schedule, I'd forgotten about that, as most probably have!
AEX raised enough cash to last all the way to end of 2024 and have cut costs to the bone, plus $35m carry to big production, funding certainly isn't a concern here.
Excellent RNS.. Lots to chew over
Not invested in AEX but am invested in HE1, another company drilling in Tanzania. Am I correct that AEX do not have a rig sorted for their well yet? He1 have just bought a drilling rig and announced this week so I am assuming they will be in contact with each other about lending this out. Hopefully would be beneficial for both companies!
This RNS represents solid progress on just about every front, the most important ones being the good news regarding all the key regulatory and analytical hurdles, ie. the GSA, the FDP, and the completion of 3D Seismic data processing.
Good news all round here then I would say - the few minor timetable tweaks mentioned in this RNS apparently aren't forecast to have any impact on the 12 month improvement to time to first production...
GLA!! :-)
All seems to be moving nicely, this is a big operation with many moving parts.
Wouldn't have used the word imminently. LTH will know what I mean :-)
A bit of slippage in timescales but encouraging 're the long lead items and the optimal choice for CH-1.
Fingers crossed for future progress. It sounds like the relationship between AT A and TPDC is working well.
Atb,
Northern
My inpresion as well clogs, suggest peeps slowly build up to the climax tho but folks will also play meanwhile GLA at the AGM today and wish I was there to share a wee dram/ale with some of you :o)
All sounds a bit casual and hopeful, but worth holding onto, IMHO.
Quick reaction before work is I read this as progress on all fronts.
Including massive progress on regulatory/licence issues, which are the main source of delay historically.
Slight change from 1st gas moving October 2023 to year end but that is better than the last RNS which talked about early 2024.
I'm looking forward to Mr Ham's post today. LOL
"APT recently received the first shipment of long lead items"
People need to start having full confidence in ARA, because they are demonstrating that they are on the ball.
I did say I expected a full operations update prior to the AGM and that AEX will have requested the info from ARA.
That is an exceptional update, blowing the deceivers rubbish claims into oblivion.
CH-1
"optimal target location"
"a much-improved well location."
As a production only well it should really be targeting the thickest interval which is about 4.5x the thickness of what NT-2 intersected, making it a potentially huge 80-100 mmscfd well. Those phrases suggest to me that is what they are doing.
GSA, FDP and Development Licence all approved with sign off imminent.
New well pad should be visible on Satellite, so if they don't announce it we will still know it's started and can asses it's location versus the seismic, by using the distance between NT-1, NT-2 and the original CH-1 pad as a guide.
RNS Number : 7053F
Aminex PLC
12 July
Ruvuma Operations Update
Aminex PLC, the oil and gas exploration and production company focused on Tanzania, is pleased to announce that operations on the Ruvuma PSC have continued to progress under the direction of the operator, ARA Petroleum Tanzania Limited ("APT"):
· Following analysis of the results of the initial 3D seismic processing and interpretation, the JV partners have chosen a new optimal target location of the Chikumbi-1 well ("CH-1"). The Tanzanian authorities have given provisional approval of the new CH-1 well pad location and final written approval is expected imminently.
· The full processing of the 3D seismic data is now complete. Given the vast volume of data acquired, interpretation is now due to be completed in Q4 2023, which may result in a full revision of gas reserve and resource potential for the field.
· A well-workover of the Ntorya-1 well ("NT-1"), to enable rapid tie-in to the gas production facilities and bring the well into early production requires the use of a drilling rig and remains scheduled to run after the drilling of CH-1.
· 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.
· The Tanzanian authorities have continued with the necessary workstreams to progress the construction of the export pipeline from Ntorya to the Madimba Gas Plant to accommodate gas, according to recent public reports, by December 2023.
· APT recently received the first shipment of long lead items, including tubulars, required for the spudding of the CH-1 well.
· The two-week well-testing programme on the Ntorya-2 well ("NT-2"), designed to provide additional information required for the design of in-field processing facilities, and originally scheduled for late March 2023, is now expected to run in the coming months.
As previously announced, the conclusion to the above workstreams decouples the spudding of CH-1 from first gas production and receipt of gas revenues. The re-defining and de-risking of the project materially advances first gas production, which is now expected at the end of 2023. A further announcement on drilling rig arrangements and timings will be made in due course.
Aminex, with a 25% non-operated interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the Company through to the commencement of commercial gas production from the Ntor
Everything moving along nicely. GSA agreed, Field Development agreed, CH-1 location optimised and chosen, 3D seismic material increase in reserves by Q4. Gas by end of the year.
Charles Santos, Executive Chairman of Aminex commented:
"Ruvuma is an important project for Tanzania requiring a broad technical engagement and multiple negotiations. We are very pleased that the Tanzanian authorities continue to prioritize our project, including supporting the accelerated production of gas and the building of a pipeline. We are also pleased to report that APT is making great progress, including finalization of the GSA, FDP and the Development Licence, and the identification of a much-improved well location. We expect additional progress in the coming months on the well-testing of NT-2, the spudding of CH-1 and the workover of NT-1. We also look forward to the completion of the 3D seismic interpretation by the fourth quarter of 2023.
· Following analysis of the results of the initial 3D seismic processing and interpretation, the JV partners have chosen a new optimal target location of the Chikumbi-1 well ("CH-1"). The Tanzanian authorities have given provisional approval of the new CH-1 well pad location and final written approval is expected imminently.
· The full processing of the 3D seismic data is now complete. Given the vast volume of data acquired, interpretation is now due to be completed in Q4 2023, which may result in a full revision of gas reserve and resource potential for the field.
· A well-workover of the Ntorya-1 well ("NT-1"), to enable rapid tie-in to the gas production facilities and bring the well into early production requires the use of a drilling rig and remains scheduled to run after the drilling of CH-1.
· 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.
· The Tanzanian authorities have continued with the necessary workstreams to progress the construction of the export pipeline from Ntorya to the Madimba Gas Plant to accommodate gas, according to recent public reports, by December 2023.
· APT recently received the first shipment of long lead items, including tubulars, required for the spudding of the CH-1 well.
· The two-week well-testing programme on the Ntorya-2 well ("NT-2"), designed to provide additional information required for the design of in-field processing facilities, and originally scheduled for late March 2023, is now expected to run in the coming months.
As previously announced, the conclusion to the above workstreams decouples the spudding of CH-1 from first gas production and receipt of gas revenues. The re-defining and de-risking of the project materially advances first gas production, which is now expected at the end of 2023. A further announcement on drilling rig arrangements and timings will be made in due course.
Aminex, with a 25% non-operated interest, is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya gas-field at zero cost to the Company.
Definitely some action SC, can see it much clearer as it builds up. Keepem coming
Plenty more NT-1 action has happened in the past 10 days if you compare the latest Satellite image with the previous one's. We got new imagery today and I've added it to the collection, plus a new green image which is pretty good at showing the differences too. The objects along the bottom right edge are increasing, so now it is a complete line with no gaps. Other things have changed too. If you are on a phone and can't see it clearly, download the image to your phone and then you can zoom in better.
https://ibb.co/8PP2GS7
What the Doomsters imply, the BOD with their special share deal don't want to see the share price rise ! Not a soul on this forum wants to look at the unused free carry that Mick Proscuitto avoids and whether if it is true, there is a legal obligation that CH1 has be drilled.
If any one on here is going could you please update on the meeting?
I will unfortunately miss it as I will be abroad on buisness this week.
Many thanks.
At least we've got prosciutto's next post to look forward to tomorrow :-)
Past performance and all that
I expect a nothing RNS follow by an AGM which confirms nothing new
At least I can’t be disappointed