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The way things are going it is probably lucky we are suspended or we would be down around 1/1.5p by now. No doubt someone will redo the 'guess our return price?' Certainly will not be double figures like some were saying but will it be below where we were?
Things are going here there won’t be a gas demand,we’ll all be on salar by the time these deals are signed off or even at all.
I'm of the opinion that Solo can build irrespective of the licence dropping so that when/if it comes it will be the icing on the cake.
Quite agree steve, all the demand forecast is useless to SOLO without that licence!
Hi Chris.
Demand is all well and good. If the Tanzanian government don’t get it sorted there will be no companies that are prepared to meet that demand.
Still nothing on acquisition or helium ipo.
Worrying times as far as I am concerned.
Not wrong there trrime. I don't doubt they will complete these power generation plants but I do question the timescales they have set for production and the same for the Uganda/Kenya gas export pipeline along with the High Voltage supply to SADAC couries from Tanzania.
All supposed to happen around the same time!
Power plants and demand coming online in Tanzania 2020 to 2022 170 MMscf/d demand (KN-1 when producing was 15 MMscf/d)
2020 K-1 Ext 180 MW = 30.5 MMscf/d
2021 Somanga 300MW = 50 MMscf/d
2021 Mtwara 300MW = 50 MMscf/d
2022 Somanga 240 MW =40 MMscf/d
Where is the supply going to come from?
Spot Trime, for prime example over at least last 5years ,Edenville mining ,new power station ,new multi country connecting overhead power system working by 20/21 still a pipe dream ,this is a country driven by brown envelopes or nothing and to date greed is winning !! Someone should tell them 100%% of nothing is precisely that .
Some encouraging words in IPPmedia article this morning:
As part of its drive for economic growth, Tanzania has plans to expand its domestic gas pipeline network through its Natural Gas
Utilization Master Plan that would deliver supplies to five regions: Morogoro, Tanga, Dodoma, Kilimanjaro and Arusha.
This follows a feasibility study by JICA and THE NEXT STAGE IS IMPLEMENTATION OF THIS PLAN, phase by phase. The ultimate aim is TO SUPPLY ALL MREGIONS WITH NATURAL GAS, said Deputy Minister for Energy Subira Mgalu...
The Natural Gas Utilization Master Plan indicates that the government has drawn A NETWORK OF PIPELINES THROUGH WHICH THE ONSHORE BLOCKS WILL SUPPLY THE DOMESTIC MARKET.
The proposed network will be the basis for distribution of natural gas to the domestic market, bearing in mind that about two-thirds of the available area in Tanzania is yet to be explored AND THERE IS A GREAT PROBABILITY THAT COMPANIES ARE LIKELY TO DISCOVER MORE GAS IN ONSHORE BLOCKS
https://www.ippmedia.com/en/business/responding-domestic-needs-natural-gas
Thanks to Ufufuo @aex bb
Getting a little concerned with the lack of news on any front.
Basically we are a shell company with assets that at this moment in time are not worth much.
Blood on the street out there.
Not sure how much the reservoir damage from the heavy mud due to the very high pressure has impacted the flow rates from NT-2 matherdj? JB had mentioned significantly higher rates expected on a successful remediation and workover.
Maybe I should have started a new thread .
The strategy we are following is proven and correct cause of action. This thread has more chips than McCann's, is you get my drift
Regardless of what is possible from Ruvuma Tanz, I honestly think the board are trying to develop a progressive vehicle to move forward independent of this and I also appreciate that it won't come easy,
Ruvuma and H- one are both inherited from the NR days and the two they have decided to stick with ( possibly because they have no options, and while the negotiations with the dutch deal are taking longer than hoped, they are still going,
They have disposed of everything they can to clear the floor for the next stage of development,
All we know from knowledge is the credibility of the present board, the same people that took RRE from under 50p to where it is today,
Yes this suspension and lack of communication is frustrating and anoying but there comes a point where you have few choices and I choose to believe they can make this really happen,
Absolutely. I’d say they’ll get more than 20 from each well. That 140 a day target in the io report seems low. I’d hope for 80-100 from nt-1, 2 and ch-1 after workovers and a successful clean drill. I don’t know what can be achieved by a workover though. How much is nt-2’s damage is reversible?
Sorry 20 mmscf/d per well of course.
I was thinking along the same lines matherdj, 1 BCF per day is far beyond any current FFD plans @ around 20 mmscf/d for the 8 planned wells over Ruvuma. It says potential demand from Kenya and Uganda is 1 BCF per day, interpret it how you like, if the JV supply 10% of that it will be significant.
Tanzania won’t be able to supply 1 bcf per day imo. That slide on your tweet says the Kenya and Uganda’s gas demand will be 1 bcf per day in 4 years, not that Tanzania will supply that. Still a great slide showing plenty of demand to take what ruvuma produces.
Thanks Steve, current price is $3.27 PER mmscf/d I think?
If the TPDC forecast is anywhere near correct then that will all have to come from current wells/onshore development as offshore LNG is about 8 to 10 years away. Ruvuma would be emptied of all it's gas within 2 to 3 years based on the current 763 BCF 2C
Evening Chris.
If my maths is correct price about $1.87 per 1000 c ft so about $1.87 million a day.
Would be about £1.4 million a day or about £500 million a year.
Seems a bit high to me might have to check.
Evening steve, you have demonstrated you are good with numbers, so how much is 1 Billion cubic feet a day worth at current Well head prices as per KN-1?
https://twitter.com/cperkin99/status/1225436178607898625/photo/1
AA is real investor. Neil, me and you play with monopoly money, please do not criticise. News may, might possibly, could maybe imminent, that's all I'm saying.
"What difference does it make if the deal has fallen through, we have the capability of making other deals."
I simply cannot believe the above comment! TIME that is one difference! All the costs do not stop because trading is suspended. Are you ready to have another dilution of your shares to keep these people living in the way they have become accustomed to? I have been saying this for about three years! That is a long time and a lot of salaries (old bod AND new) and an awful lot of other costs. If you are happy with having your cash both tied up and worth less and less then you are in the wrong game trrime. I know things take time but that same excuse has been rolling along in different guises for YEARS! Also as ArielArrow points out the October interviews would look pointless - I would say they would look excruciatingly embarrassing!
Getting to the point where a bad deal is better than no deal?! Both parties want a deal, but suspect we want a lower price due to lower revenue.