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The potential purchase has raised discussion elsewhere re costs and how it might be paid for.
Does anybody have any idea of the cost of buying a suitable rig against the hire of one?
With an original 8 drill plan which could be more following the 3D, depending on the finances it may make commercial sense to buy, especially knowing the difficulties of locating plant in country on an as and when basis and the hold ups that may cause.
With your reference to Crusty I suggest you are easily misled or deliberately trying to mislead. I saw that joking post myself. There's only one Crusty
Yarmy - An apidistra perhaps? That is an extremely boring plant.... They are quite cheap to purchase though and without a long lead time ;0)
Yes Roger, this forum is awash with people rationally debating and being polite. You old folk argue worse than the young folk. I’ll take being called young though, thank you.
Me too Crusty progress is what most of us want here. I do recall the chatter about Ara having their own rigs but I seen to remember somebody disproving that at the time. Whether they do now or not I wouldn't know. As I said I'm only going on the ministers words and it makes sense to me. If you remeber at the last AGM we established that the long items for Chikumbi were already there as the question was asked about them having a particular rig in mind. I think we will know soon enough now and we know the first phase is to test NT2 in the summer and then organise the plant required to extract and process the gas for the pipeline. Lot's for them to do over the next six months that's for sure and all of it news worthy
I hope its not a well boring plant!! Its been boring here for years.
I beg your pardon Mr Moi 🥺 Raging at Crusty? Do you not recognise a conversation between two grown ups debating the news before us?
I know the modern trend of the young is to say shut up, or put your fingers in your ears or wear dark glasses or deflect and call people names when somebody disagrees with you but us old gammons can cope with talking to each other.
Its not hard if you try. All you have to do is behave like you would if speaking face to face.
Mcap of £50m for a world class gas field and full carry to revenue. Doesn't make sense. The value about to be unlocked here is mind boggling.
Lazy lady boy
RJ, do you not think that APT will have access to their own rigs and equipment? Remember their background. I recall previous BoD stating that the NT2 well was extremely difficult as a result of te pressures involved but that APT had the equipment to overcome those problems (casings primarily). I don't doubt that they are well prepared to move once the Dev License is confirmed but I seriously doubt that they will be looking to "purchase" a rig. Moreover a vendor is hardly going to sit on their hands indefinitely waiting for ARA (or the Tanzanian Authorities) to get off the pot and buy a rig - if so they will have been waiting a bloody long time.
Anyway it is of little consequence; what ever way they do it I am not too worried, just looking forward to progress of any sort.
Moving up nicely 😊
A purchased rig makes sense. There is 16Tcf.
1.24 paid on H/L
1.17/1.24
atm
Crusty I tend to read what I see and not dismiss it without looking at the logic of it. As you know, Tanzania is a difficult place to hire rigs and equipment because of its remoteness, so it makes perfect sense to purchase a rig that can be used over and over during the FFD. It would prevent relying on others releasing their rigs on time. I was convinced the timing last year was screwed up by Invictus retaining the rig and in Ara's position, I would not want that to happen again. So it makes sense to me to be looking around for that deal. Of course if this is so, you can bet they will have been looking at availability for a long while now and only now can they look to sign contracts. It does not mean nothing has been done during this long wait.
If you fail to plan, you plan to fail. They are not stupid
RJ, I seriously would not read too much into that particular "translation" - "Purchase"? Mmmm not sure about that. MOreover it also says "continuing with the PURCHASE of the Chikumbi-1 well boring plant." - note "continuing" - really? If that were so it would seem that they have been "continuing" with that "purchase" for a very long time. More realistically they have been doing bugger all in that direction whilst awaiting confirmation of the 25 year dev license.
"Works carried out include completing the interpretation of the 3D system seismic information collected in an area of 334.9 square kilometres and continuing with the preparation of repairs and well tests for the Ntorya 1 and Ntorya 2 wells."
"In addition, the Contractor is continuing with the PURCHASE of the Chikumbi-1 well boring plant."
"Likewise, the Cabinet has approved the issuance of a license for the development of this Block where the procedures for the issuance of the license to TPDC on behalf of the investor (ARA Petroleum Company) are being completed."