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The point is, if there is a Jurassic play, it's a new concept that will be tested with the drill bit and could lead to further increases in GIIP or the first potential onshore oil discovery in Tanzania.
"Won't be long to wait on initial results before full interpretation." For APT and JV partners perhaps but for Shareholders?
You are assuming that they choose to publish initial results of course PoC. As I said earlier they never have previously.
Here's hoping for a change in approach.
I hope you are right but I would honestly doubt that BG; the Jurassic "target" is a wide ranging one and would need greater breadth and coverage of data in my view.
There is huge upside in the Jurassic target, yet to be tested/surveyed. Hopefully it shines out like a beacon and the 3D confirms a strong amplitude and structure. Won't be long to wait on initial results before full interpretation.
"and they are most certainly going to complete the seismics relating to the positioning and logistics of the CH1 drill first;"
yes, and they might at that time, be able to reveal the size of the jurassic target plus whether it might have oil potentual ?
Well it is true to say that AEX (or most importantly APT) might choose to reveal the results on a phased basis and they are most certainly going to complete the seismics relating to the positioning and logistics of the CH1 drill first; therefore we could conceivably see those in, what, February maybe? However it is not until they have completed the full seismic survey that they will have the information to reveal a new estimated resources figure for the whole basin and it is that, in my view, that will be needed to have a material and sustained impact on the sp and even then only if there is a significant increase in that estimated resources figure. Unless they choose to reveal the results on a phased basis I expect to be waiting until April for those. Will they release them on a phased basis? Maybe but then they never have previously. Then again it has always been AEX releasing seismic information previously and going forward it will be APT - will they adopt a different approach? I am sure that SCIR will want it released on a phased basis if the SCIR Board are true to their word regarding the negotiations on the sale of their 25%. I have my own view on that but only time will tell.
More importantly when do you think Crusty :o)
So PoC when can we expect that seismic interpretation? Before Christmas? ;0)
The sp won't make real gains until first phase of seismic is interpreted, although early indications on data quality and findings will be interesting and will create buying interest. Depending on your strategy, buying now will guarantee a low price with maximum upside, and there's the chance of Kiliwani development being approved and the well re-entered. The seismic may continue into the new year if weather permits. Early signs of large structures will be welcomed.
December Rain Alert
Southern Region (Ruvuma Region): Light to moderate rainfall activities are expected in some areas with reduction of rainfall activities expected during the fourth week of December, 2021.
Yet again Tanzania you totally miss the point - at no time do comment on whether the initiation of the Seismics is good news or bad news (I believe it is good news) but more the fact that we have been told by many on this board that initiation of the seismic programme would (along with a few other things) act as a catalyst for an sp rise.... whereas I suggested otherwise.
6 - 0 to Ufufo?? You mean that 6 people agreed with him - whereas 0 people agree with what? That the RNS has not brought any rise in the share price, nor has it attracted any BUY orders. And yet in manifestly hasn't - so Tanzania the fact that no-one agrees with it does not mean to say that it is wrong. And nor does the fact that 6 people agree with him in any way endorse your view that Charles Santos and the BoD are doing a fantastic job. It simply shows that 6 people are glad to see that things are moving. Fwiw I too am glad.
My posts are neither positive or negative Tanzania, nor indeed are they an expression of an opinion - they simply highlight the facts.
Furthermore I note that currently it is Ufufo 6 and Tanzania 0. What does that say about your opinion that "Charles Santos and the BoD are doing a fantastic job"? Actually Tanz nothing at all. It simply goes to prove that your interpretation of "scoring" is totally specious.
Not sure eliminating the negative is the wisest approach when investing money but each to their own :-)
But what IS holding the price back? There is tangible operational progress now. There is improvement in the political climate. Kiliwani money has been received. There is even albeit limited read across with Cove. We are free carried. And yet the price languishes…
Positive and negative thoughts very welcome.
My concern is that this remains a punters stock based on the next drill. And that the amount of selling that may invite from disgruntled long term holders will continue to exert downward pressure on the share price.
Well Crusty, 6-0 to Ufufo underwrites my view Charles Santos and his twopence happeny BOD are doing a truly excellent job.
Unlike your good self I'm still running with my revised golden oldie ballad, accentuate the positive, eliminate the negative.
a stampede
I see that the BUY orders are flooding in.... ;0)
BG, you surely know me better :-)
Personally I am just happy that stuff IS happening and the company is giving us regular updates.
"we will now see what impact that has on the sp"
don't hold your breath Crusty. : )
Hurrah!! A week late but hey, better late than never..... we will now see what impact that has on the sp eh?
Here's hoping :0)
Ruvuma Operations Update
Further to its announcement on 22 October 2021, Aminex is pleased to announce that the first phase of the 3D seismic project has commenced on the Ruvuma PSA in Tanzania.
ARA Petroleum Tanzania Limited ("APT") has confirmed that the seismic contractor commenced preparatory works as planned on 15 November 2021, has now established the GPS control points and survey equipment is being calibrated for ground staking. The Joint Venture expects line clearing and mobilisation of the camp to commence next week. The contractor is making good progress with the mobilisation of the necessary equipment with five vibroseis trucks now ready to be offloaded at the port of Dar es Salaam and the importation of the receivers is ongoing with the expectation that this will be completed next week.
The Joint Venture expects the contractor to be fully mobilised and to commence the survey on 15 December 2021 in line with the expected timetable. The first phase of seismic survey activity will continue until the weather permits and commence again once the rains have abated in late Q1 2022.
Charlie Santos, Executive Chairman of Aminex commented:
"We are delighted to provide this update on operations on the ground in Tanzania. The acquisition of a modern 3D survey over the target area including the Ntorya discovery is a significant step for the Joint Venture and, tied with the upcoming well, will further define this important Tanzanian gas resource."