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Sorry that should be over the full 51m gross interval of gas-bearing sandstones not just the 25m.
BG If 78% of the flow was only over 2 meters of the 25 meters and it flowed @ 20 MMscf/d it begs the question on workover and clean up what would the flow be with the other 23 meters at full flow? Must be a lot of mud down that hole.
Not mentioning score-DYOR and goodnight
Sorry my daughter hijacking my iPad!
p.d. did Southend Utd mess up again?
Just read your earlier post. Inspiring to read. So much potential now! Roll on the good news! In consideration of the future of the share price I have the image of a Roy Lichenstein painting- WHAM!
Thanks again, Robbie. Genuinely excited about Aminex (again). Not a good state to make investment decisions in! Need to calm down.
Cheers Robbie. Sounds encouraging. My intention was alway holding until NT3 results. A pity it will have taken around three years of waiting since NT2, but I’m confident that CH-1 will be totally worth the wait !! It will be great if we can re enter NT2 next year too.
Sambo- All I’ve heard is that ARA have finished their talks with Tanz ref issues they had put forward.
I’m sure it will be our turn very soon for L update.
Aex are apparently sourcing long lead items.
I get the feeling that ara are going to throw everything at this with full backing from Tanz.
CH1/TN2/Spur
If it all comes together over the next 12 months aex are going to have a lot of income.
Now when NT2 was being done I got told it was going to be an absolute gusher until they had to mudd up.
I originally came in to this for NT3 after some info from a friend.
Exciting times are finally around the corner and I now have a very good holding.
Regards
Thanks Robbie and makes a lot of sense to understand exactly what they have in NT-2 and what the production flow rates could be, certainly if the spur is going to be fast.
yes agree, this from the EGM circular, RPS ENERGY ( COMPETENT PERSON’S REPORT)
http://admin.aminex-plc.com/uploadfiles/181207_%20EGM%20Circular%20(web%20version).pdf
I believe at least 25m was perforated at NT-2 prior to the well test, and reading the RPS Energy report on the results, makes you wonder, just what the flow rate would had been if it wasn't damaged by mudding up due to the high pressures.
" In addition, a PLT was run for the Ntorya-2 well which revealed 78% of the flow was coming from two metres on the upper part of the perforations (2,593 to 2,595 m MD) (Figure 5-9). The Operator attributes this to the ineffectiveness of the clean-up of the well, which prevented the whole interval from producing. The Operator expects a higher deliverability during development. However, RPS is only considering the deliverability demonstrated in the existing tests for this Report"
Hi Robbie, would not be surprising considering how much AEX stuffed it up and how compromised the flow rates were as a result. ARA have deep enough pockets to warrant re-entry..
Are you hearing any more re. CH-1 prep / timing?
Peeky, What about if they plan to sort out the spur pronto?
There’s a squeak NT2 may be re-entered
As they sort out licences for other companies they have been resolving payment disputes at the same time. They are trying to set up a whole new (fit for purpose) system here. A non-geological problem with frontier exploration! Nearly there.
Nice one! Thank you for the prompt reply.
Back to hibernation. Good luck!
Hi Kir, yes the Government made a claim and held back $7.6 million from the JV (More than the claim) so either way some money is due.
See half year report statement below from 30th Sept.
"Recent changes have provided us with some encouragement that progress can at last be made with respect to resolving the outstanding receivables of US$7.61 million for previous gas sales from KNDL and related interest. "
Hi cperkin
I am a long Aminex holder, but never had reason to post really as just hanging in there, with hope of seeing shareholder/Company growth.
Please could you kindly help me out with something I have been trying to find out via the RNS but not really found anything, so apologies if I missed it and was obvious.
Aminex is owed money from Killiwani well, but I am unsure what the VAT dispute is. Are TPDC claiming Aminex owes them money?
Any info is appreciated, Thanks
Must admit, I have no idea where this will land post licence and spud, all depends on what they find in the appraisal portion of the drill and of course the deeper Jurassic target, never mind the multi well FFD.
Need that licence and spud first.
bucklefern, just enjoy the rise,we all deserve it, o,, sorry you sold out,ha.ha,ha.
The point being Ufufuo that a 4x share price rise is meaningless as the difference in sp and the number of shares in each company means that any comparison is pointless. The reality is that one rose by far far more than the other in "real" terms - that is in terms of market capital; that fact that the sp rose by a similar multiple means nothing as they each started from totally different places.
But no matter - life is too short.
Solo late 2016 about 0.25p to over 0.8p. Aminex in same period just below 2p to over 7p. So both rose a little over 3 times. So “comparable gains” as I said. We could argue the toss about exact price points but then that would be missing the point ;-)
I stated “Obviously back then Kiliwani was still producing and so we are now weaker in that regard”
As though making a new point, you then point out “BUT we no longer have KN1”?
I do agree with your point about the effect on share price of time between events. Once we have the licence and with operations for Ruvuma in the hands of the well capitalised Omanis, there is reason to be optimistic in that regard.
Off to bed, so good night. Hopefully another blue day tomorrow :-)
* should have read "no longer have KN1 income..."
"Also, we now own less of Ruvuma...but holding 25% didn’t stop Solo achieving comparable gains to us the last time around."
This really does miss the point - Solo had 25% of Ruvuma whilst AEX had 75% - But Solo had only one quarter of AEX Market Cap, So NO Uhufuo Solo did NOT have comparable gains. AEX Market Cap rose by (Circa) £200m and Solo only £50 million....
Since ten we have the prospect of lower Jurassic targets and $5 million and $35 million "credit" BUT we no longer have KN1 and no longer have any cash in the bank and ho knows what the outcome of the PSA review will be and the effect of that on future income.
In my opinion these do not totally compensate for the loss of 50% of our Ruvuma prospect. However I do expect a good rise on the completion of your list of potential developments. A big factor though on the effect of these on the sp / MC will be the waiting time between them. A potential 6 month wait for C1 spud and any short term sp rise is unlikely to hold, in my view.
Hence the height of that potential short term rise will be dependent on the C1 spud date being in Dec/Jan. Do I expect that to happen? No more than 50:50 methinks.
Absolutely vike. Although this time I think we should rise to much greater and more sustainable highs than that time around. Back at the end 2017, before it was announced that the rig was on site for NT2, the share price in a similar place to where it is now. The share price rose to more than 7p during that drill. Two years of complete inactivity whilst Tanzania gets its house in order has seen the share price drift down to a mere fraction of what it was.
The NT2 rise was obviously driven by the fact the drill could start to prove basin model for Ruvuma and the fact that it was planned to be back to back with Ntorya 3 (now Chikumbi 1)...and the associated hype.
NT2 was a huge success (fixable damage related flow rates aside), resulting in a 12-fold increase in resource estimates over the 2015 CPR. So, this time we start our assault on new sp highs with that in our pocket. Obviously back then Kiliwani was still producing and so we are now weaker in that regard. Also, we now own less of Ruvuma...but holding 25% didn’t stop Solo achieving comparable gains to us the last time around.
So, from a similar sp starting point, we now have the prospect of:
1. The license being granted and completion of the farmout with the balance of $5m paid to Aminex
2. Chikumbi 1 spud date
3. Chikumbi 1 results
4. Tax dispute resolved. $3m net to Aminex
5. KN1 potential remediation and resumption of limited production. 6MMcf/d? Perforation of lower zone to potentially considerably increase production and longevity
6. Kiliwani South drill spud date
7. NT1, NT2 and CH1 connection to Madimba gas processing plant to establish early production system with min gross production of 40MMcf/d. The start of significant revenues. The rumour is that we should be able to produce at much higher rates.
8. 200sq km of 3D seismics over Ntorya development area, plus further 75sq km 3D seismics over Kiliwani and Nyuni. Imagine the CPR after that!
9. Kiliwani South drill
10. Likely 5-well field development programme
With the licence granted and Aminex comparatively flush with cash, we could see all of this happen in the next 12 to 18 months.
CH1 is now MUCH bigger and is dual target - when compared to NT3 as it was. With that in mind and the potential for OIL and a fully carried forward plan for Ruvuma (last time around, we had NT2 to look forward to but not the extensive forward plan we have now), not to mention the ever improving demand picture, there is every reason to believe that we will reach and then drive on through the share price highs of NT2.
10p party? Only for the very impatient ;-)
Looking at the charts, our steady sp movements over the last two months are looking eerily similar to those of Fall 2016, in the lead up to NT2. We've had spikes since, but nothing this supportive for such an extended period.