Member Info for Aimster

We need confirmation that CH-1 location has not changed. The market does not like unknowns. NT2 took up to 10 weeks to construct the Drill Pad, so at the moment if CH-1 location does change, we may still be on track for a November Spud date.

BG .. “confirm the final drilling location of the Chikumbi-1 ("CH-1") well BEFORE THE END of August. ”

“APT has recently received the first batch of field seismic data and expects to have processed and interpreted sufficient data to confirm the final drilling location of the Chikumbi-1 ("CH-1") well before the end of August. ”
Last day of August today so need that RNS tomorrow!

So another Back-to-back drill possible and in less than 6 years I hope.

The SP has been floating around just under 3p for the last 2 weeks. I can’t imagine there are that many PIs selling before Serenity spud in less than 3 weeks, Is it still the IIs from their 1p placing price? Answers on a post card.

ICB …. IMO we will not get a resource upgrade until post CH-1 drill. There’s no point. What we will get is confirmation of the location of CH-1 (hopefully in the next week or so) and then the drill contractor. If CH-1 has to be relocated it could take up to 10 weeks to build a new drill pad (ref; NT2)

There are a few dreamers on here today.
“TBH right now im starting to think 20p is possible come the end of 24/25 and all 8 wells in production.”
20p !!!! Nearly a billion MC. Where are all your customers comings from? Lol . Look at Wentworth’s MC and currently meeting customer demand.

Just checking dates for NT2

Mon, 1st Aug 2016 07:00
RNS Number : 7602F
Aminex PLC
01 August 2016
 
“Within the licence, civil work for the Ntorya-2 appraisal well has commenced and it is expected that the well pad will be completed within 10 weeks.”

Fri, 23rd Sep 2016 07:01
RNS Number : 6139K
Aminex PLC
23 September 2016

“Aminex is pleased to announce that it has executed a rig contract for the drilling of the Ntorya-2 appraisal well in the Ruvuma basin. The Caroil 2 drilling rig is currently on the Ntorya 1 well pad and preparations are underway to mobilize the rig and equipment to the Ntorya 2 pad, which is 1500m away. The contract is for one firm well with an option for a second well.” - Remember the Back-to-Back Drill

SPUD Date 21 Dec 2016

Cutting it close for a November Spud if CH-1 has to relocate. Need an RNS soon.

NT-2 spud date was announced 3 weeks before the actual spud, after Caroil 2 inspection was complete so don’t expect confirmation on a spud date.
For now we need CH-1 location confirmation and details on the drill contractor.

Apologies Patch13

Looks like Patch13 dropped a smelly and then cleared off.

VHB….. you seem to be posting like a 6 year old.
I asked for comments on Oddie’s throw away comment of greater than a 50% CoS for the drill. I can now assume as the drill is an appraisal drill that the CoS is for standalone commercialisation.
Again thanks Tony.

Thanks Tony...... Just found a post on the ADV BB from Jan 22 (posted by garyn)
"They have found oil and intersected part of the target reservoir, but the issue is likely that I'd be amazed if it is commercial (based on the analogous properties it probably shares with Buffalo-7 - that flowed at 4,000bopd prior to water cut increasing to a level where the field was abandoned in 2004). They need to hit the reservoir top much higher up and give the sort of oil pay - somewhere around the 50m level probably - that had been found on the historic drills that had produced the larger flow rates. To make the field attractive to debt investors, given the Capex required for further appraisal and development, the results here needed to be substantially better. It isn't a 'duster' (you wouldn't expect it to be as the reservoir is a known one!) but given what has been announced so far is unlikely to be commercial. All in my opinion of course."

Hi Patch -- Can you please elaborate on Advanced Energy Drill. Was it Exploration or Appraisal? Was the Cos with regards to commercialisation?

Anyone have any comments on the greater than 50% CoS for the drill?. Seems low for an appraisal drill.

Seems to be low volume with Spud LESS THAN 3 weeks away (if they stick to the drill schedule).

Tick-up

I would be surprised if the SP dropped below 6p. Less than 10% profit of the placing price.

Keith is this the calculation you mentioned?
360x7.8 + 60x5.5 = 3138
3138 ÷ 420 = 7.4 difference in share price being 0.4 pence
Where does the 420 come from?
The calculation should be to retain the same Market Cap. 308m x 7.8p = £24m
Then £24m divided by 353m = 6.8p

So 45m new shares coming to market tomorrow (12.7%) with 15m shares moving from tight hands to possibly loose hands. The share price was 7.8p before placing announcement so you would expect the SP to be around 6.8p (12.7% less) now. The big question is how many of those new shares are in 10% ers hands? Could keep the SP down until Spud announcement.