Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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So...
if they get their skates on and they begin with just the ch1 and surrounding area - process and analyse that - could they be able to report on the ch1 area by Xmas?
"the world will have moved on from gas and oil and they will have missed a golden opportunity to strengthen their economy."
or another way of looking at it, the era of abundant efficient and cheep energy source is behind us now, well maybe not for Tanzania. i don't know if i buy into this green energy malarkey, and i think the transition will be quite an awakening as we move forward, but one thing is for sure, nothing is for free.
Having held nearly 3m of these (and not sold) when they hit the heady heights of 7p in 2017 I will certainly attend a 10p party in the Shard should it ever reach that figure. 10p was my target price in 2017 and on paper with the assets AEX have, it was, I thought in 2017, achievable. However, I didn't account for the political shenanigans in Tanzania. Having put these shares in the bottom drawer for the last 4 years I'm pleased to see an awakening. I do think that some countries are their own worse enemies when it comes to developing their own natural resources. If Tanzania is not careful the world will have moved on from gas and oil and they will have missed a golden opportunity to strengthen their economy.
10p party 2022 location the shard dress blacktie date 16th december 2022
yes gaslady, and i think thats what the RNS says (" AGS will mobilise, weather permitting, and focus on the proposed location for the Chikumbi-1 well ("CH-1") to acquire as much data as possible before the start of the rainy season ")
"The acquisition will consist of approximately 338 km² of 3D seismic data focusing on the area of primary interest. AGS will mobilise, weather permitting, and focus on the proposed location for the Chikumbi-1 well ("CH-1") to acquire as much data as possible before the start of the rainy season with the programme re-commencing after that with no additional cost to the JV partners."
I would think they could sound the area around ch1 first, process, analyse and report while doing the other areas for later. What is below ch1 is primary spot of interest and is the main event to start with.
I would imagine Tanz that OilAnalyst would only become a shareholder if he/she could see a good chance of a profit within a maximum of a few months
I am no O&G person either but surely it makes sense to 3D in and around the small area of the current drill pad and analyse that first and concurrently whilst they deal with the rest of the 200 square kilometres ?
It's the appraisal and deeper exploration target that is CH1 and the Zubairs/ARA have already identified a further TCF of gas or oil from the 2D reprocessing.
Either way, events are moving fast now, Farmout complete, 2 year extension licence, agreed work programme and 3D mobilised or about to be and all importantly the tax dispute is resolved.
Finally after many years of waiting, it's getting exciting again!
The unanswered question, is Oil Analyst interested enough to become a shareholder if he hasn't already and bearing in mind the multiple acreage of interest.
Hi OilAnalyst, you sound as though you have industry knowledge that is greater than mine. You will see that I did have a basis for the things that I was saying could be possible. However, I freely admit that I do not work in oil and gas and do not claim to have in depth knowledge.
If you do - and I have no reason to think otherwise - then we should take your comments at face value. Thank you for your input to keep the conversation balanced.
To be fair to oil analyst...he/she talks alot sense and i dont expect the drill to be pulled forward if we hit annouced timelines of q3 2022 i would be happy
Ufufuo, take it as a fact that processing and interpreting a survey (different from acquisition) of the scale being acquired here and in a complex channel sand system, as is the geology here, will take many months. Even though we would all wish it be otherwise; It wont be done by Christmas. Any geophysicist or seismic contractor will tell you this.
Also take it as a fact that the rig will not be moved to location until the seismic interpretation has been done.
You are correct that long lead items will be ordered this year; they by definition need ordering a long time before drilling and usually a year before.
Hi OilAnalyst,
Not at all. I believe both points to be realistic and thereforetruthful.
POSSIBILITY OF SOME SEISMIC RESULTS BEFORE CHRISTMAS
I do not expect another RNS to say that the seismic has started. They said it would start early this month and I assume they would have advised if this was not the case. Also, they have stated that they are prioritising the area around CH1 to get results for that first. Furthermore, APT has contracted AGS to complete the 3D seismic. Only 2 months ago, AGS has announced that they have purchased Stryde nodes for seismic projects in the Middle East & Africa.
Based upon case study information available,it seems that seismic programmes can be completed much more quickly using this technology than in the past and with other systems. For example:
“In one project, RTS was able to shoot a city-based 3D study in just one month, versus the 6-10 months it would have once taken with cables. This is thanks to the flexibility of our nodal system but also the speed at which data can be processed once our nodes are harvested”.
https://www.strydefurther.com/resources/unlocking-geothermal-with-seismic-case-study
On your other point, please see the following extracts from the last Annual Report:
“In parallel to the 3D seismic survey, APT will commence with the contracting and procurement of the services for the Chikumbi-1 well”
And…
” APT plans to progress with securing the Long Lead Items during 2021, including the well head and rig.”
Hope that helps.
we had similar statements the past month or so re; resolving the late payments and how it would ("enable Tanzania to secure further investment and upstream gas development") so i wonder, who or what upstream gas development Charlie Santos is alluding to , i think it would be rather presumptuous of him to be referring to the LNG project and the relationship between the Gov a say the major oil gas company's, so i'm of the opinion he is hinting at the planed Nyuni 3D and a possible partner to farm-in and fund it ??
" The Company appreciates the TPDC's constructive approach to the negotiations and believes that both parties agree that these matters need to be resolved satisfactorily and swiftly to benefit the local gas industry and enable Tanzania to secure further investment and upstream gas development"
I think it is motre the fact that something is finally happening
Ufufuo, I think you know this is not true
The 3D seismic has yet to start and when its complete will take 4-6 months to process and interpret.
The rig will only be mobilized once this has completed.
The company has advised Q3 2022 from drilling (and this assumes that the seismic does start on schedule).
shareholders are all delighted to see things moving again in Tanzania, but lets please keep the commentary real.
Hi bigpat, let’s hope the market has had time to digest this latest bit of good news. So many positive implications.
Am looking forward to watching the share price in coming weeks. I think Nyuni license or agreement of commercial terms for Ruvuma will be next news.
Then news on rig mobilisation for CH1. Plan for Kiliwani and possible farmout news.
All possible this side of Christmas!
Another great find well done,all looking promising for signatures and terms to be finally agreed.