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shes certainly trying
All small AT trades
Now down to 7.20 bid
Anyone one know the timeline for the drill ?
This board had become a circus.
Chris sock oil bloke has his strategy fair play jog on enjoy.
I have mine and it’s holding for a long time yet
This board has gone to shxt
Apologies I meant farm out
Not sure how the SP will react to this. Yes there are positives but also further delays on the GSA now ‘possibly’ middle of next year.
We ll see
TIDMAEX
RNS Number : 3752N
Aminex PLC
24 September 2019
24 September 2019
Aminex plc
("Aminex" or "the Company")
Ruvuma Farm-Out Update and Acceleration of Drilling Operations
Aminex is pleased to announce that all the conditions precedent within the control of Aminex and ARA Petroleum LLC ("ARA") detailed in the Ruvuma farm-out agreement ("Farm-Out") have been satisfied. The Company and ARA have seen positive movements in Tanzania with the government actively resolving several long-standing issues with other operators in country. These positive movements provide confidence to the Company and ARA who are now prepared to further advance certain pre-drilling operations for the Chikumbi-1 well. The Company and ARA will advance works so that drilling of the well can commence as soon as practicable following the satisfaction of the remaining conditions precedent, which are the granting of the Mtwara licence extension and government approval for the transfer of interest and operatorship. Furthermore, Aminex is pleased to announce:
-- Aminex and ARA have signed a binding heads of terms, whereby ARA has agreed to provide a $3 million advance in instalments to the Company, ahead of Completion of the Farm-Out ("Advance"), which provides the Company with financial flexibility pending Completion. The parties will agree and sign a fully termed agreement as soon as possible;
-- The Advance will be offset against the first tranche of the Cash Consideration payable to Aminex on
Completion of the Farm-out;
-- The second tranche of the Cash Consideration of $2 million, which was initially due to the Company 180 days after Completion, will now be payable to the Company upon Completion;
-- The Long Stop Date for Completion of the Farm-Out has been extended to 30 June 2020. While the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out, this demonstrates both parties' commitment to the transaction;
-- If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing
secured loan, repayable by 30 June 2021.
Aminex Chairman John Bell commented:
"ARA is suitably encouraged by the ongoing discussions with the Tanzanian authorities to accelerate the planning and preparation for the spud of Chikumbi-1. Furthermore, these advanced payments demonstrate a commitment to this excellent asset, which when on production will play an important role in meeting domestic demand for gas from the people and businesses of Tanzania and a possible international market through export arrangements with neighbouring countries. Alongside our partner ARA, we continue to work towards completion of the Ruvuma Farm-Out, and are proactively engaged with the Tanzanian authorities to obtain the outstanding approvals and licence extension."
ARA Petroleum LLC CEO Sultan Al-Ghaithi commented:
"We are encouraged by the ongoing discussions with the Tanzanian a
Half year report
Union Jack remains debt free and our cash balance stands in excess of GBP2.8 million as at
20 September 2019.
Half year report
Someones been loading up 100K, 150k and 250K buys all delayed
climbing again, an easy 10 - 20% to be had for the brave
followed by a 300k buy
£180k buy !!
315000 at 0.5695
24% up
Heavy buying
14% up
RNS Number : 4240L
Aminex PLC
06 September 2019
6 September 2019
Aminex plc
("Aminex" or "the Company")
DIRECTORATE CHANGES
Aminex is pleased to announce the appointment of Mr Robert Ambrose, as a Non-Executive Director of the Company with immediate effect. Mr Ambrose will replace Mr Sultan Al-Ghaithi, who steps down as a Non-Executive Director, also with immediate effect.
Mr Ambrose is the Chief Operating Officer of The Zubair Corporation's Energy & Logistics Division. He has a Petroleum Engineering Masters from Imperial College, London, and a Mechanical Engineering Honours Degree from Brunel University in the UK. He has over 30 years' experience in the oil and gas industry, from downstream to upstream, covering many aspects of the supply chain and has experience in and held senior management roles involving the reservoir, well construction and production both onshore & offshore. Mr Ambrose joined The Zubair Group in 2001.
Under the terms of the Shareholder and Relationship Agreement dated 8 July 2016, Eclipse Investments LLC ("Eclipse") has the right to appoint two directors to the Aminex Board. Along with Mr Ola Fjeld, Mr Ambrose is a representative director appointed by Eclipse.
Mr Ambrose will be proposed for election by shareholders at the next General Meeting of the Company.
Aminex confirms that there are no matters requiring disclosure in respect of this appointment under paragraph LR9.6.13R of the Listing Rules of the Financial Conduct Authority.
Aminex Chairman John Bell commented:
"We warmly welcome Robert Ambrose to the Board of Aminex and look forward to working with him as we, first, seek to complete the Ruvuma Farm-Out transaction and then progress development of the Ruvuma project as soon as possible. Robert's breadth and depth of experience across the industry will be of great benefit to the Company.
On behalf of the Board, we thank Sultan for his contribution to the Company over the last two years and wish him well for the future."
Excellent Mix
UK Regulatory (RNS & others)
TIDMECHO
RNS Number : 9708K
Echo Energy PLC
03 September 2019
3 September 2019
Echo Energy
("Echo" or the "Company")
Tapi Aike Update
Echo Energy, the Latin American-focused upstream oil and gas company, announces an update on its upcoming Tapi Aike drilling programme.
Echo Energy and Compan i a General de Combustibles S.A. ("CGC" or the "Operator") continue to progress the processing of the 3D seismic survey acquired across the Tapi Aike block in 2019. In the eastern portion of 3D survey area, the Chiripa Oeste, five areas have now been selected for surface location permits and an environmental impact assessment ("EIA") covering these locations has been submitted to the provincial authorities.
Following completion of the currently ongoing seismic analysis, one of these five locations will be selected to drill the La Vanguardia x-1 well, the first well of a proposed four well Tapi Aike exploration drilling programme. It is currently anticipated that the La Vanguardia x-1 will be drilled to an approximate depth of 3,000 metres using the Petreven H-205 rig. Subsurface interpretation continues and the La Vanguardia x-1 well location and well design will be finalised once this analysis has been completed. The well currently remains on course to be spud in Q4 2019.
In the western cube, the Travesia de Arriba, processing of the 3D seismic data continues. Based on preliminary data, five broad areas have been selected in which to initiate environmental studies and commence surface permitting.
Martin Hull, Echo Energy's Chief Executive, commented:
"I am pleased to report that we continue to make good progress as we prepare for the start of the Tapi Aike drilling campaign. The La Vanguardia x-1 well will be the first of a proposed four well drilling programme on the Tapi Aike asset, which has the potential to deliver material value for the Company and its shareholders. We look forward to providing further updates as we continue to refine the subsurface analysis of the basin and progress with drilling preparations."
For further information, please contact: