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Hello Edward. or is it Private or Marshall Mathers?
buck, who's pumping and dumping
But Buckler, your talking Aminex down ! I simply cannot imagine the Government will have strung the Omani's out for so long just to kick them in the teeth with a bad deal. Think about it (in the morning).
Well Buckler, I'm really bewildered (as I guess others are) as to why you are here at all if you bought in at .07p and you feel AEX is a no hoper. Your negativity appears to be based on guessing the government will offer us a poor deal, or are there other reasons ? Enlighten us poor souls please. Looking back, it seems to me in the evenings your dialogue appears to be more free flowing, almost colourful but certainly full of angst. Why not try turning the coin over and looking at the other side tomorrow ?
I am sure I read somewhere an additional 5% or revenues was the bottom line , great for Tanzania and the gov in a run up to an election, but what terms are the majors agreeing in September?
If September is honoured then the bar is about to be set.
bucklerfern "it is highly likely the terms of any new agreement will be less in our favour than previous. A point not really engaged in by the members here."
Dr. David Mestres Ridge (Swala CEO) said: “Whilst we do not expect any significant or material changes to the PSA as a result of this review, "
https://swalaoilandgas.com/documents/Swala-declares-Force-Majeure-under-the-Kilosa-Kilombero-PSA.pdf
Swala Oil & Gas (Tanzania) plc (“Swala” or “the Company”) advises that the Kilosa-Kilombero JointVenturehasdeclared ForceMajeureundertheKilosa-KilomberoProductionSharingAgreement(“PSA”).In 2018 the Joint Venture resolved the issues of permitting that had prevented access to, and drilling operations in, the Kilosa-Kilombero area. In late 2018 the Joint Venture commenced the tendering process to select drilling contractors and teams.
InJanuary 2019 it selected a drilling team and started planning the 2019 drilling campaign. On the 30th January 2019 it was advised by the Ministry of Energy (MOE) that all mattersrelating to the licence extensionwouldbe notified to the Operator once the government hadconcluded a review of existing PSAs.
Licence extensions are now automatic under the 2015 Petroleum Act (“the Act”) and do not require separate confirmation. The process of reviewing the existing PSAs, which are themselves grandfathered underthe Act, is unclear. Until that process has been concluded, the Joint Venture does not have the basis to ascertain what impact –if any –it may have on the timing and approach to not only the exploration drilling but to any subsequent development that may follow a successful exploration campaign.
Dr. David Mestres Ridge (Swala CEO) said: “Whilst we do not expect any significant or material changes to the PSA as a result of this review, the overall impact is to delay investments until the process is resolved. Until such time, the PSA will remain in Force Majeure whilst the Joint Venture maintains a readiness to re-commence its drilling commitments once all issues are resolved.”
Any idea of potential mc on licence extension/transfer of ownership?
Bucklerfern I assume that you are still invested from around 0.7p ish.
I remember a couple of years ago when you bought in at around 3p and sold a few weeks later at 4p, just before the demise to where we are today. You posted that you had invested in AEX and also posted when you sold up with reasons. So I consider you to be a shrew investor and your posts to be extremely enlightening.
Exactly BG, still believe the bod sold out a drill too early, but like you say water under the bridge.
yes agree cperkin, anyway the past is the past, its where we are now that counts, and i'm now beginning to wonder, given all that we know, the PSA license review, the assets, CH-1, and the current share price, are we not looking at a golden opportunity, one of those rare occasions that you might count on one hand
Buck are you now s buyer of Aex?
A bit of Paranoia is healthy Bucks and you were quite right in your call down from the top, but you, me or any other poster ever gave a valid reason, no one happened to mention the contract review nor the PSA review.... At the height, they made a great appraisal drill, 12X Gross resources and I certainly expected a back to back drill as did many others.
Bottom line is the assets are much bigger than when I first invested here and the SP much lower, make of it what you will.
Have no doubt at all, Drewky is the main man who (together with Chris Perkins) has truly believed Aminex would succeed. Don't forget it was he who persuaded and cajoled Crusty into dropping the original, utter and stubborn opposition of the 'Transaction'. So many on here couldn't understand or accept AEX is a minnow in comparison with the like of the Omani's. Drewky was the one true one that agreed with the BOD and saw Aminex had to give ground to bring the Omani's on our side. Remember those mad times with Drewky fighting off the likes of Apache and Dunder !?! How right he was and some proof if ever needed, is surely the reason why suddenly we have a flock of new names gathering support for AEX. Still need to get Licence approval of course !
Hi Viking, if I remember correctly, Crusty said he will be back in September when there might be something to see.
It was a joke, but then Drewky did claim to have an inside track with the BOD and kept reposting that ridiculous list of unsubstantiated 'factoids' and was downright rude to many who sought to question his advice so "many a true work spoken in jest.......".
Anyway, I agree, a tide seems to have turned now so perhaps we will see some ROI. Long overdue.
Suggesting any link between the SP decline and Drewky posting is complete nonsense. The contract terms and PSA review is the cause of the wait and that with KN-1 dying are the reason the SP is where it is. Shame the BOD did not come clean about the contract review and the PSA review when it was announced in parliament.
Drewky's presence and continual over-optimism and shooting down of anyone being pragmatic seemed to coincide almost exactly with the SP decline so, nothing personal but I rather hope he may be away for a while.
A couple of the leading lights on this forum have not posted for a while. What's happening with Drewky and Pete?
VS