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Skittish… just thinking that they may park the drill rig at Tai-1 until the drill pad at Tai-3 is completed.

Also maybe the possibility of testing the Rig out at Tai-1? Shallow depth? Even Lorna has mentioned the possibility of a 2nd drill.

KevinRound … I think this is the link you were referring to in your post.

https://www.linkedin.com/posts/iain-whyte-3628828_he1-activity-7084221470976962560-K92Y?utm_source=share&utm_medium=member_android

Hey Skittish do you also monitor any movements at Tai-1?

IMO Investors are waiting for confirmation of the Drill contractor.

With Tai-1, the SP was around 7p when the RNS was released announcing the Drill contractor. The SP started to rapidly increase from then.

Forget about the SP that will sort itself out. Someone mentioned GGE and flow rates earlier. The helium discovered by GGE had UPTO 1% Helium concentration. I know HE1 have measured upto 10% at the surface, but my question to the knowledgeable is what would be a good % helium concentration with a HE1 discovery?

Investinggoals …

The issue with the wet season is mobilisation of the Drill Rig over muddy ground. Once the drill is in place you can still drill in the wet season and obviously flow test.

With the current road infrastructure the wet season wouldn’t be any issue anyway.

Looks like an RNS in the morning

Sustain … it’s going to need more than one drill to move to production. IMO at least 3 in the same location.

There was mention last week on this BB of a potentially a Shallow drill before the main target drill. Was that at Tai-1a?

Just that Lorna mentioned in the interview with Zac, that they would give the Drill Rig a run out before moving to Tai-C well site in mid-August.

"$1m monthly income" That’s just for Aminex with NT-1 & NT-2 at FULL capacity.

That’s how I understood it Pete. “NT1, NT2 and CH-1 expected to produce 70-75 MMcfd between them”

My Rumuma gas requirement calculations doesn’t take into account is any drop-off from Songo or Mnazi Bay.

Does anyone know the timeline for expected drop-off?

Question for AGM attendees. Do they intend to drill CH-1 first or complete NT-1 work over?

Just asking as NT-2 alone should meet requirements for first half of 2024.

Just another point, I assume the 140MMcfd is a limitation of the pipeline diameter? If so an additional pipeline required by 2028.

Just sharing some quick calculations. Any comments welcome.

Tanzania Current Gas supply capacity at 240 MMcfd (Songo and Mnazi Bay)

Anticipated requirements of 380 MMcfd by 2028 (5 years)

140/5 = 28 MMcfd per year increase

So Ruvuma for additional capacity:

2024 = 28 MMcfd

2025 = 56 MMcfd

2026 = 84 MMcfd

2027 = 112 MMcfd

2028 = 140 MMcfd

Seems TPDC taking 15% back-in so Aminex now at 21.25%

Gas Price at $4 so:

AEX 2024 28 x 0.2125 = 5.95 MMcfd (say for 320 days) = £7.6M per year

AEX 2025 = £15.2M

AEX 2026 = £22.8M

AEX 2027 = £30.4M

AEX 2028 = £38M

NT1, NT2 and CH-1 expected to produce 70-75 MMcfd between them, so then expect at least 2 additional wells for 2026 production.

Current Market Cap just under £50M at just over 1p per share

How much of $140M budget being spent up to First Gas? Probably less than $40m!!

What happened to Multi-Drill Program?

Drilling of any additional wells likely being paid for from gas revenue.

Will ARA pay AEX cash from the remainder of the $35M from their revenue or use the money for AEX contribution to drilling additional Wells?

Roger… done and worn the attendance AGM tee shirt. Doesn’t mean diddly squat. I remember the Scirocco AGM just before the One Dyas deal. Came out the meeting feeling great, met my son who worked for the BoE and had lunch at Fenchurch St restaurant (highly recommend) and look what happened after. Big lesson learned. DO NOT get emotionally attached to a share!!

With regards to Drewky, nobody hates him, it’s just banter. Most other investors saw the writing on the wall. He didn’t, as he was so emotionally involved. He even created the unofficial Aminex website.

Anyway see you back at the HE1 BB, the rampers having a field day there, earlier discussing £5 a share lol. I thought about posting some sanity there, but as I’m approaching a 1 bag there, I feel in a good mood.

Thanks Pete. We can always rely on your posts for neutral factual information. Cheers.

Just one additional question. Is Drewky RogerJolly?

Haggis .. all we need now is a Timeline Gantt chart for each of those milestones like MOST other companies would provide.

For those touting CH-1 drill for the end of 2023, here’s a reminder of the timelines for NT-2 back in 2016.

2016 - NT2 Drill RNS with AEX as the OPERATOR

1 Aug - Civil work for the Ntorya-2 appraisal well has commenced and it is expected that the well pad will be completed within 10 weeks.

23 Sept - Rig contractor signed off for NT-2 drill

18 Oct - Civil works for NT-2 well site complete and mobilising Caroil 2 rig. Spud late Q4, drill expected to take between 45-60 days

5 Dec - Caroil 2 rig independently inspected.

19 Dec - Caroil 2 rig formally accepted by company. Spud is expected next few days.

21 Dec - Spudding NT-2

9 Jan - Drill status & schedule update.

6 Feb - NT-2 results 51m gas

27 Feb - Further update and Flow testing to commence

24 April - Flow test results : Flow rate 17 mmcf/d on 40/64 choke

I hope there’s a Presentation RNS later this morning. We are owed an update, especially on the FDP and I would like to see a forward looking gas requirement graph.

SQ320 … do you not know the difference between a GSA and FDP? Totally separate items. I expect they will get an update on the FDP at tomorrow’s AGM if only by word of mouth.