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That doesn't fill me with confidence......fecking shambles of a country!
Final extension to 15th October.
Aminex announces that the parties to the Ruvuma Farm-Out Agreement have, at Aminex's request, agreed to extend the long stop date for satisfaction of the remaining conditions to the Farm-Out from 30 September 2020 to 15 October 2020.
The Company notes that this is the ninth extension to the long stop date and has been advised by ARA Petroleum Tanzania Limited ("APT") that the long stop date will not be extended again. Consequently, if such Government approval is not obtained by 15 October 2020, APT will have the right to terminate the Farm-Out Agreement.
Boom or Bust on the 15th.
Shafted by this bunch of government sharks. No intention of approving this farm out absolute bloody disgrace.
An ultimatum to the Tanzanian government it seems to me, but would they care....unlikely, sadly. However, if a takeover is to happen what value per share are we looking at?
Absolutely disgraceful to of been strung along this whole time, furious.
Don't realistically see this happening now, and then where do we go from there.
Totally agree with cperkin.....Boom or bust on or before 15th October, faintest of hopes still remain I suppose.
"Such advance from ARA will be interest-bearing at a rate of 13.77% per annum and will be repayable upon written demand by ARA"
No chance we have all been strung along by this inept and corrupt government who all along have had no intention of granting the farm out despite getting everything that they have asked for. They will probably come up with some spurious reason for not granting the farm out and low behold after a certain amount of time one of their friends will take over the gas field and project with all the work and finance being done by others.
feck that left the building will keep my Solo shares just in case, strung on to the end shocking GLA !!!
Corporate criminality.
Also the election is at the end of October no chance of them granting a farm out before then. Bunch of crooks.
Nothing, as they have no value, just another African scam to add to the long long list of company’s that have set up in Africa, fleeced the shareholders of every last penny then walked away, just remember to note down all of those involved and avoid any company’s where you see they have involvement AIMHO of course
Extorted money out of Aminex to bring it to its knees.
IMO this is all designed to look like the Tanzanian authorities have squeezed the life out of the "foreign investors" and that the government has protected the local resource and did not allow easy money to be made. It will be all over the local press in a few days? When it happens...
"one of their friends will take over the gas field and project with all the work and finance being done by others."
but Aminex still holds the Ruvuma PSA license ? so ARA who now has rights over the assets can/will move take over Aminex/assets ?
Good chance both the Tanzania government and ARA are screwing Aminex over.
BLACK
OR
RED
:-D
well...they appear to have put their toe-capped boots on - about time
do you want this gas development (which will benefit your economy and your consumers) to happen or not?
crunch time
Hydrogen pleased to see you over here...ggp treating you well! :-D
Hydrogen - I have been wondering the same, if the Gov screws this down to a collapse, do we all, as shareholders have a right to bring a case against them?
Gazfemme, ma cherie.
Consider opening the Droopy Groupie gig with 'Slip-sliding away' ?
RJ..my pet
https://www.youtube.com/watch?v=Zv4JhrrTwx8
I think The Tanz government will get their arse moving. Otherwise there will be a lawsuit for not honouring the farmout . They would be liable for compensation of loss of earnings etc, not to mention the millions already paid.
I think they will get their backsides shifting - the Ruvuma Licence Extension having being Granted clearly shows and demonstrates intent
I assume ggp profits have made up for it!
I think we have to be very conscious they do business very differently to Australia...