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For our envious troll friends down the road
With Q1 24 revenues decreased by 18% It seems Orca now have to go through the same long process we have been through
"After 20 years of continuous production, natural gas deliverability from current producing wells and reservoir compartments in the Songo Songo field is declining."
NOTE: SUBJECT TOO
"Operationally, mobilization has commenced for the production logging program, targeting SS-3, SS-5, and SS-10, alongside with the planning of the well intervention for SS-7, subject to the availability of US dollars in Tanzania, contract agreements on the extension of the PGSA and contracting new gas sales from August 1, 2024. The success of these programs, coupled with other low-cost efficiency projects that are underway, are expected to maintain the Company's production levels, ensuring gas contracts are met.
As noted in our recent communications, this time remains a critical juncture for Orca, as we continue to strive towards agreeing to a framework and timeline for a license extension on the Songo Songo field. Orca has proven itself as a committed investor in Tanzania, and the extension of the license would allow the Company to plan for and execute a longer-term development solution, which enables Tanzania’s anticipated increased gas demands to be met for the foreseeable future, for the benefit of all stakeholders.” "
Old ham chops won't be happy perhaps they should sell for a 30% premium?
Nice to know our licence has been approved for issuance by the cabinet and expected to arrive any day soon. Due to the deadlines the Tanzanian government have put on building their own pipeline, I fully expect receipt of the Development licence prior to the AGM on 27th June
But why is there such a delay in handing over the licence when it was approved some time ago by the Government? I’m sorry, but I am a bit nervous
Don't trust anything Tanzania gov said..
MCCO "But why is there such a delay in handing over the licence when it was approved some time ago by the Government? I’m sorry, but I am a bit nervous"
scaredy-cat 🙂
Not sure why you are nervous about the licence. Their government has told you its been approved. There has been enough official news around it to support it so it's as simple as that.
As for not trusting the gov. I certainly wouldn't trust a joyo that one day speaks perfectly good english and the next can't string a sentence together. Whoops must he have forgot which ID he was logged into. 🙄
Johnnyflatearth!
The moon is made of cheese isn't it ?
You and me both mcco!
I imagine the environmental impact report will need to be completed before the development licence is signed.
"nervous" LOL!!
Tanzania Deputy Prime Minister: "The licence for Ntorya has been fully signed off"
ARA Pertoleum: "The licence has been fully signed off and the Government advise it WILL be issued IMMINENTLY"
Aminex: "awaiting issuance of the signed licence from the Ministry of Energy."
Aminex: "The approval by Tanzanian authorities for the Development Licence, including Cabinet sign-off, awaiting issuance of the signed licence from the Ministry of Energy"
Cut the 'nervous' BS please, we can all see it for what it is, baseless scaremongering negative spin.
Well said, this will have a much better day tomorrow ,and I really would not want to be out of this over this weekend , hold on to those golden tickets ,and when the licence lands this will be over two pence straight away and that is just for starters , seems like good support at this level , and think today was just the mms looking for some cheap shares ,good fortune to all holders .
After almost a 2 week run of daily blue there had to be bit of profiting..
FOMO Friday should get us going back north 😊
For the licence being issued, I would prefer to go by the RNS which says "very soon" agree tanzania timelines are not predictable, but if it was contingent on the environment study surly the RNS would have said once the study is complete
Agreed KirSin, that seems price sensitive, especially if it meant any sort of meaningful delay, and would have to be shared with the market.
In fairness to 91joyo, he realises his posting here has gotten that bad that he doesn't even use his second London South East login/handle to 'One Tick Rick' up - 'recommend' - his own posts here any more !!
Easy for me to sit patiently in hold mode here, as, hopefully, this rally is only just warming up
Good luck to all fellow holders here !