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Sorry RJ obviously I meant when NT3 became CH1 !! ;0) Sorry.
Sounds plausible. I expect all will be revealed in the upcoming news flow.
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.
Re, Turkie Conference, , future invest deals to be discussed tomorrow, nothing about energy though.
For anyone interested, Tanzanian president appearing on TRT channel 513
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
Yes Crusty that was my thinking too (I don't think they have the cash) but I had forgotten what TW had said.
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.
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.
I also do hope so.
I am however a bit confused in the difference between the "Development vs Exploration" license. As mentioned in the GSA RNS "Aminex now anticipates early issue of the Development Licence which will allow the award of a rig contract and enable the drilling of Chikumbi-1 and the workover of Ntorya-1". The news article refers to exploration license "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."
I hope its just the translation error and TDPC has not partnered with someone else :-)
That's true crusty the decision whether to take up their back in rights have not yet been confirmed, however while those rights are available to them, I'm not surprised that they would class themselves as partners. Afterall the language trend these days seems to be that everyone is a stakeholder 😂
From recollection they have an option which they may or may not take up the full amount, something that will perhaps be clarified with the announcement, because they would have back costs to pay in one form or another would they not?
RJ you say "Ara and Aminex are in partnership with TPDC." - that presupposes that the TPDC have exercised their back-in rights to the Ntorya License (which has long been expected) but if so it has not been confirmed anywhere to my knowledge - maybe as part of the GSA but as no-one has seen it how would we know?
Ara and Aminex are in partnership with TPDC.
Ntorya is in the Mtwara region.
Ntorya are the names of the first drills NT1 & NT2
Aminex and ARA jointly hold the licence for the Ntorya area.
Ara and Aminex have been granted a GSA Gas Sales Agreement back in January with the Development licence to follow imminently.
Would the clown suggesting that the following excerpt from the speech doesn't apply to the above please enlighten everybody who and or what else it could possibly apply too?
The first English news confirms the translation "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." https://www.ippmedia.com/the-guardian/news/local-news/read/western-regions-to-be-linked-into-national-grid-next-fy-says-biteko-2024-04-17-101538
I have several qualification in investing and have had so for many years. I seriously doubt anyone as emotional as you are is a professional. If you are then you’re a bloody bad one.
As to why you’re chasing a company so hard in the hope of a ‘no comment’ response, only you will know. Must be something all your years of professionalism caught onto something I missed in mine 😂
I won’t reply to you again, I’m far too dense 😂
Oh, and by the way, 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.
Are you really that dense that you think you need to state that to someone that works in the finance industry and has been investing for decades??
All I would expect is a reply saying "we cannot comment on press speculation, anything we advise will be through RNS to the whole market", but I did not get that, I did not get anything.
And the fact I have told them about it in email GUARANTEES that they know about it, yet no RNS to deny it. That is far more important than any reply they could send me.
And they’re not going to respond to shareholder emails with news. This is known as INSIDER TRADING! 😂
Stockcheck. This is all obvious, calm down, God almighty, the uproar when they do actually release some news will be more newsworthy than the RNS itself! Penny stocks go
Up and down wildly on whispers for the same reason we are all invested already. No SP is going to stick on rumour when silence follows it.
Far too much emotions, all will work out as planed. Have a cup o’ tea and relax.
Oh, and by the way, 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.
SQ320,
Also, I emailed them and I bet several other shareholders did too. I didn't get a reply, but if what was stated in the press was known by them to not be the case, they would have issued an RNS advising the press speculation was not the case.
I got no reply to email and no RNS was issued to deny the statement made by the Deputy Prime Minister, meanwhile Aminex are all over Twitter telling the world how big Ntorya is.
Anyone that genuinely does not believe it, well, you need to get a grip on reality.
Of course it relates to ARA / Aminex, it clearly states NTORYA and LICENSE. The only companies with gas in Ntorya are ARA / Aminex!!!
The Licence approval in Parliament has to go through the Tanzania Government process of BEING ISSUED, to the operator, ARA Petroleum Tanzania, upon which the operator can then advise Aminex that IT HAS RECEIVED THE LICENSE.
Aminex cannot RNS anything until it has been advised by the operator that the License is in in their possession.
We know Tanzania Government processes are slow, so this could take more than a day or two, but the significant posts by Aminex on it's Twitter account indicate they KNOW that it's on it's way, but as I say, they cannon STATE IT AS FACT until it becomes A FACT when ARA take possession of the Licence paperwork.
The PR company would get an earful from PIs if this were a rumour! Putting out Tweets on the same day strongly suggested that something had happened.
Nothing like a good"GENUINE RUMOUR".
Unfortunately the statements made are open to interpretation and do not specifically state that the 25 licence has been issued to AEX/ARA. I would imagine if this was signed sealed and delivered then AEX would have to issue an RNS.
Whilst I do hope we get the confirmation and good news soon, anyone that has worked in TZ knows that what TZ Govt Ministers say is not necessarily directly related to fact.
And more on the news today in Tanzania, this published today April 18, 2024. It has the same paragraph as yesterdays news but focuses more on the Electricity sector and supply. Clearly states the License has been granted.
https://timesmajira.co.tz/ahadi-ya-rais-samia-ya-kumaliza-mgao-wa-umeme-nchini-yatimizwa/
The last 3 RNS were issued at 7am, 2.49pm and 5pm. So the RNS could land literally at any moment of the day. Let’s hope some of the traders get caught out.