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"When exactly did Aminex last achieve something it set out to do ?"
Nobody know ?
Answer...Has it ever ?
Well I was wondering about mentioning the 3D seismic data !
err...like what happened ? Where is it ? Any chance of the results being shared ?
Surely the whole 3D project is not to be scrapped ?
When exactly did Aminex last achieve something it set out to do ?
It is quite obvious that the share price of aminex will rise from here , the thought that ara petroleum would invest millions on this huge gas field just to fail is just ridiculous and any new investors that take the time to read back through the rns since ara petroleum has been involved will also know that aminex 25% is worth many times its current share price . and if new investors also take the time to read back through certain doom and gloom posters on here will also see that they are just trying to get back in at a lower share price having sold on the recent high .
Prosciutto you wrote a thesis on Aminex? would i write on a BB if i wasnt invested in it?
2nd i would write negative if my intentions was to get there share to drop so i could buy more- i would talk like a professor to scare others, when the truth is they probably dont know the difference between a donkey and a mule?
why would anyone waste their time on a share if 1) they didnt want it to rise or 2) they want the price to decrese so they can top up.
GLA
Where the hell were you hiding when this was in the 1.40s?
What is your agenda - if people are not clever enough to see you only talk when the price si dropping then they shouldnt be trading?
if you think this share has no future why are you here?
too many liars on this board.. and i know where i start!
dont be fooled by the donkeys- ask yourself would they spend time from there precious life if it wasnt worth it?
Celebrated highlights of the week:
" I can also see a scenario where the zubairs clean up and shareholders get the crumbs" 1. Argus2
" I’ve been here for a good few years and plan to stay aboard. Even at the present price I’m still substantially down" 1. MCCO
= = = = = = = = =
Orca Energy Group has US $102.8 million in cash as reported in Q2 This would be of interest to Aminex because Orca Energy Group could assist with ....
A) Kiliwani North Development License. ... Orca Energy Group / East Coast actually tried to buy part of this in the past history but were denied.
Unfortunately, " delays continue to hamper the progress of the 3D seismic project ... ..... As a result, the Company is now reviewing its options regarding the way forward for this project" 1. Q2 Orca Energy Group. They may elect to scrap the entire 3D initiative.
B) Nyuni is a highly prospective but Aminex can't afford to smell it let alone explore it.
= = = = = = = =
Aminex: information straight from the source itself
Yield: 0.00%
Production 2022: NIL
Revenue 2022: NIL
Earnings per share 2022: US $ (0.10)
Shares issued: 4 211 million.
Cash per share: US $0.001
Working cap: Negative
Why shareholders are so enthralled with this company is rather bewildering. Over a long term, this company has been one of the worst oil & gas performers.
Two possible reasons for the mini uptick.
1) They may have found a solution similar to what Wentworth thought they had.
2) A massive, short position is created after the stock price is moved up. The holder of the short position approaches the company. They agree on a placement of a few hundred million shares at a significantly lower price. The shorts cover and the company may receive a few million dollars ... enough to prevent insolvency. Alternatively, Aminex could borrow some funds from the same folks that Scirocco borrowed from with the same result.
Scirocco is struggling with the transfer of license interest to APT which is slated to be completed by month end.
Wentworth is also struggling because of the uncertainty of them being acquired. There will be many disappointed shareholders if they slip back into the same predicament that Aminex is currently in.
Both Scirocco and Wentworth have recognized the hopelessness of it all.
Aminex may be fast approaching this same level of recognition and acknowledgement.
Carpe diem, search for a strategic alternative. Be hopeful of a 30% premium to market and hope to hell the takeover will secure regulatory approval.
Oh, and there it was gone. There is a god lol
Yes wonder were it went!?
Blink and you missed it.
Totally agree with you gas lady
LOL...
Althoigh if you're still expecting production this year, you'll certainly need it.
Let's hope you won't need divine intervention eh ?
God give me strength
Thank-you prosciutto !
I don't know what we'd do without your weekly words of sanity.
LOL..
Celebrated highlights of the week
" Except of course for that multitude of rampers and rainbow chasers that have been exhorting all and sundry for years that they need to buy now FOMO.....! The only reason that the majority of those have been long term holders is because they all got stuck on a spike or their own creation and have never been able to get out...." 1. Crusty Pete
"What I am not prepared to do is to fraudulently sing it's praises, and have no respect for your view that as a shareholder that is exactly what you think I should do. I give an objective assessment and (like it or not) I have been proven to be absolutely right ." RoJo
And another 'objective' assessment below.
= = = = = = = = = = = = = = = =
Facts: Comparative Peer Analysis
Yield
Scirocco 0.00% Aminex 0.00%
Wentworth postponed??? Orca Energy Group 7.5%
Production 2022
Scirocco NIL Aminex NIL
Wentworth 29.7 MMscf/d Orca Energy Group > 135 MMscf/d
Revenue 2022
Scirocco NIL Aminex NIL
Wentworth US $37.8 million Orca Energy Group US $118 million
Earnings per share 2022
Scirocco US $ (0.53) Aminex US $ (0.10)
Wentworth US $ (0.07) Orca Energy Group US $1.39
Shares issued.
Scirocco 900 million Aminex 4 211 million (grotesquely obese)
Wentworth 180 million Orca Energy Group 19.8 million
Cash per share:
Scirocco US $ 0.0003 Aminex US $0.001
Wentworth US $ 0.17 Orca Energy Group US $4.84
= = = = =
Aminex is hemorrhaging funds. The visibility in the marketplace here is extremely poor as demonstrated by the fact that Orca Energy Group is trading below its cash per share level. If one were to use the same metric on Aminex, then Aminex should be trading below US $0.001 (0.00078 Pound Sterling)
You can expect a delay beyond October 2023 for the highly anticipated, miniscule, decoupled, first-gas net production of 3.6 MMscf/d from Ntorya2. The pipeline to Madimba won't be completed by October. This should lead to a liquidity crisis and a subsequent capital raise. The acrid smell of dilution could be just around the corner.
What is holding up the interpretation of the 3D seismic? This is like a big black hole.
" So, if you feel you are in a black hole, don't give up. There is a way out " 1. Stephen Hawking.
The way out is to encourage the search for a strategic alternative. Be happy with a 30% premium to market and hope to hell the takeover will secure regulatory approval.
Thank-you as always prosciutto !
Thank-you prosciutto for your weekly dose of sanity.
Lol 😂
More LOL from the troll..
Celebrated highlights of the week
" What nonsense is this PoC ?" 1. RoJo
" We are also months away from the drill " 1. StockCheque
Evidence that reality has started to creep in.
= = = = = = = =
What exactly does Aminex NOT have?
Aminex is a company that does not have control over anything.
Aminex is a company that does not have any say or sway over anything.
Aminex is a company that does not have any production, cash flow, income, a dividend, time to spare or a signed GSA.
Aminex is a company that does not have a raison d'être.
etc.
What exactly does Aminex have?
Aminex does have a negative working capital.
Aminex does have millions of dollars' worth of tax assessments. pg 66 of Annual Report
etc.
= = = = = =
Comparative Analysis:
Wentworth is producing ~ 31.94% of 90 MMscf/d ~ = 28.7 MMscf/d. Wentworth has stalled
Orca Energy Group is producing ~ > 135 MMscf/d (including protected gas). Orca Energy Group has stalled.
Ruvuma's NT-2: (25% - TPDC back in = 21.25%. ) 21.25% of 17 MMscf/d = 3.61 MMscf/d. This miniscule decoupled first gas production won't get any traction whatsoever. Wentworth has seven times as much production. Orca Energy Group has thirty-seven times as much production.
In order for Aminex to match Mnazi Bay, Ruvuma would need to produce 90 / 0.2125 = 423 MMscf/d. In order for Aminex to match Orca Energy Group, Ruvuma would need to produce 135 / 0.2125 = 635 MMscf/d. The ' silly list' will likely include this projection in the next revision and some will undoubtedly believe it.
Aminex is walking on a financial tightrope. It is totally mystifying the amount of intrigue for this risky proposition.
Having said that, Aminex is not entirely hopeless. Two prospective bright spots for Aminex are Nyuni and KNDL.
From Orca Energy Group's 's point of view, the Kiliwani North Development License would be of interest to them. Orca Energy and Aminex are joined at the hip. Orca is covering the cost for 12.5 sq km of 3D seismic over the KNDL and that's about a US $1.57 million gift. Orca is obviously interested. The 3D seismic should pinpoint new structures and stratigraphic leads. This is shallow water and very close to a gas processing plant. Immediate access and no 35 km pipeline required. The drilling and the tie backs could be handled by Orca Energy Group.
" The [3D] incursion into the KNDL should provide valuable data to improve structural mapping and refine the prospectivity of the Kiliwani North and South structures " 1. Charles Santos
Orca Energy Group has ~ US $96.3 million in cash. They are skilled as an operator and intimately acquainted with the World Class ' SongoSongo' reservoir. Assuming the 3D seismic proves noteworthy, Aminex should entertain a farm out of their 63.8% of KNDL
Nyuni is highly prospective but it's totally out of reach for this financially distressed Aminex.
It will be a major challenge to get a KND
recent celebrated highlights
" i do find it somewhat surprising that with all this 'good news' and millions of income and tax exemptions that the sp is still languishing. " 1. rojo
" they have no knowledge of when they will be starting the groundwork for the pipeline nor if or who is contracted to build it " 1. crusty pete. thank you for your objective assessment of the agm, cp
" first gas still expected october " the 'silly list ' author. june 6th, 2023.
= = = = = = = =
they'll be lucky to start the gas pipeline by end of october.
what we have here is a globular cluster of excessive bureaucracy. another delay is possible.
tanz: no mick2020 here. he is a very perceptive man. he tried desperately, on several occasions, to save your financial ass at > 4p. he obviously failed to do so. wentworth was, and still is, a quantum-leap better shape than aminex. if that acquisition fails, wentworth will fall back into the same 'abyss of despair' where aminex currently resides.
= = = = = = = = = =
" we have successfully acquired the necessary funds via our equity placing in april 2022 to ensure our running costs are covered (before one-off and exceptional items) until receipt of revenues." 1. aex
dec 31st, 2022. annual report
current assets ... us $7.1 million
current liabilities ... us $9.9 million
this must have been a printing error! it clearly shows the current liabilities is larger than the current assets.
creative accounting 101 ... just ignore the balance sheet and hopefully, no one will notice.
= = = = = = = =
keeping the operator status for kndl, whilst not having a pot to **** in, would certainly be cause for a massive capital raise. this narrative just wouldn't work without massive dilution. the only reason you would even entertain this ridiculous idea is to prevent the cessation of salary emoluments. this company represents a redundant layer of bureaucracy with no raison d'être. this company is essentially acting as a shill. notice the preeminent spokesperson at the agm wasn't the ceo of aminex. could the comedian mr. bean, run this company just as effectively at a fraction of the cost?
scirocco, wentworth, orca energy, and maurel & prom ate all getting royally screwed over.
who is next in line to be royally screwed over?
bring an end to this status as an enslaved shill. encourage the search for a strategic alternative. be happy with a 30% premium to market and hope to hell the takeover will secure regulatory approval.
Celebrated highlights of the week
" Years not months StockCheque. lol " 1. Honest Tom
" Typically. there is a cloud right over NT-1 on today's Satellite view!" 1. StockCheque
Typically, there is a cloud of uncertainty over this entire company every day.
= = = = = = = = = =
Status:
Aminex has a negative working capital. This fact didn't make it onto the promotional 'silly list'. The 'Negative Working Capital' and the 'Free Carry' are mutually exclusive conditions. The ' Free Carry' isn't going to alter the fact that they don't have enough liquid assets (money) to pay for the short-term obligations.
What are the options?
1) Capital raise. This causes dilution along with share price weakness. This will tighten the noose around their neck.
2) Farm out part of the remaining 25% of Ruvuma. Becoming so eviscerated, they may as well call it quits.
3) Farm out of KNDL. This is the best option of the three, but approval / timing could become a serious issue.
= = = = = = =
re: Oil discussions
Forget about the oil. There is a reason why Tullow left. There was no commercial quantity of oil discovered at Likonde-1 which is just North of CH-1. APT is working on a GSA... the G stands for 'Gas' and not 'Oil'. 100% of the proceeds of any liquid condensates, currently produced by the co-venturers, go directly to TPDC and NOT to the co-venturer.
= = = = = = =
The acquisition of Wentworth may be at risk. The decline in WEN's share price is understandable. If the acquisition fails, Wentworth will revert back into its former 'abyss of despair' which Aminex currently occupies.
Tomorrow is a big day for the shareholders. They have an opportunity to converse with management. Your task is to find out if the emperor is wearing any clothes. The questions were designed to penetrate through the thin illusionary veneer. There is no copyright on the questions so feel free to ask them if Tanzania fails to do so.
Repeat of Questions
1) The dispute with the Tanzania Revenue Authority is ongoing. What's the plan to get free from this head lock?
2) The negative Working Capital requires attention. How big of a Capital raise are you working on?
3) The Scirocco deal has yet to obtain a 'Clearance Certificate'. Also, there has been no closure for a GSA, 25-year license or FFD. ARA knows very well that the only leverage they have is to stall. How long of a stall can Aminex afford to sustain?
4) Are you still on schedule for October gas production?
5) As a non-operator with no say, sway or control over anything, wouldn't the company be better off seeking a strategic alternative?
Encourage the takeover of Aminex.. Be happy with a 30% premium to market and hope to hell the takeover will secure regulatory approval.
Cont'd
The company has no raison d'être. Before it is too late, what you want to hear from management on July 13th, is the following .....
" We have come to the realization how difficult things are at present and thus we have opted to seek out a strategic alternative for the company. "