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Steady rise. today a few decent sized buys on the full ask 0.95.
Currently 7.1% up would be nice to see 1p ask before the close
My take is we have taken this on the chin to move things forward. Sensible move in my opinion will reduce delays and costs associated with that and also keep the SP up.
Lets get this deal done !!
TIDMAEX
RNS Number : 0387M
Aminex PLC
06 May 2020
6 May 2020
Aminex plc
("Aminex" or "the Company")
Ruvuma Farm-Out Update
As previously announced by the Company:
-- The Board and management have been focused on satisfying the various conditions precedent for completion of the Ruvuma Farm-Out.
-- As part of the ongoing process to obtain Tanzanian Government approval, the Company, with the support of its Tanzanian tax adviser, has been in discussions with the Tanzania Revenue Authority ("TRA") regarding any taxes payable on the Farm-Out.
-- All taxes must be paid before the TRA can grant the necessary Tax Clearance Certificate which is a legal requirement to enable the Minister of Energy to approve the Farm-out. The TRA's assessment of the Capital Gains Tax ("CGT") on the Farm-Out was US$2.2 million.
-- The Board decided that although it disagreed with the basis for the CGT calculation, following a period of intensive discussions with the TRA to reduce the CGT, to avoid further potential significant delays, it was in the best interests of the Company to accept this CGT charge in order to expedite completion of the Farm-Out, which delivers significant value to Aminex and its shareholders.
-- The Company entered into a non-binding heads of terms with ARA Petroleum LLC ("ARA") to provide a further advance of US$2 million ("the Loan") to enable payment of the monies due to the TRA, which will be repaid to ARA from the consideration due on completion of the Farm-Out.
-- The Farm-Out will see the Company carried for up to US$35 million of its share of costs associated with the development of the Ntorya Gas Field, effectively carrying the Company through to material gas production in Tanzania. On completion of the Farm-Out, the Company is due US$5 million cash consideration and will also receive US$1.97 million in back costs payable in six monthly instalments.
The Company is pleased to announce that it has signed a fully termed binding agreement with ARA for the Loan ("Agreement"). The Loan will be interest-bearing and will be repaid from the consideration due on completion of the Farm-out or from any other available sources of funding. If completion of the Farm-out has not occurred by 30 June 2020, the Loan becomes repayable and the Company will be required to grant security over the Loan to ARA. Aminex has drawn down to date US$2.33 million from the US$3 million funding arrangement put in place with ARA in November 2019, which is also repayable from the consideration due on completion of the Farm-Out.
Upon receipt of the Loan, the Company's Tanzanian subsidiary, Ndovu Resources Limited ("Ndovu"), will pay the CGT bill. The TRA has confirmed that, on receipt of the CGT plus the stamp duty payable by ARA Petroleum Tanzania Limited ("APT"), it will issue the Tax Clearance Certificate to the Company and the Ministry of Energy, which will allow the Minister to grant approval of the assignment of the 50% intere
At 0.45 might of had something to do with the sp
Someone needed their £32k back I wonder what they paid for them
01/05/2020 4:28pm
UK Regulatory (RNS & others)
Aminex (LSE:AEX)
Intraday Stock Chart
Friday 1 May 2020
TIDMAEX
RNS Number : 7195L
Aminex PLC
01 May 2020
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name JOHN BELL
---------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status DIRECTOR
--------------------- --------------------------------------------------
b) Initial Notification INITIAL NOTIFICATION
Amendment
--------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name AMINEX PLC
--------------------- --------------------------------------------------
b) LEI 635400CSEBJAYPUUFC95
--------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-------------------------------------------------------------------------
a) Description ORDINARY SHARES OF EUR0.001 EACH
of the financial
instrument,
type of
instrument
Identification IE0003073255
code
--------------------- --------------------------------------------------
b) Nature of GRANT OF NOMINAL VALUE OPTIONS OVER ORDINARY
the transaction SHARES
--------------------- --------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) EUR0.001 65,000,000
-----------
--------------------- --------------------------------------------------
d) Aggregated
information
- Aggregated NOT APPLICABLE
volume
- Price
--------------------- --------------------------------------------------
e) Date of the
transaction 1 MAY 2020
--------------------- --------------------------------------------------
f) Place of the
transaction
LON
0.95 paid
30/04/2020 11:18am
UK Regulatory (RNS & others)
Aminex (LSE:AEX)
Intraday Stock Chart
Thursday 30 April 2020
Click Here for more Aminex Charts.
TIDMAEX
RNS Number : 4971L
Aminex PLC
30 April 2020
30 April 2020
AMINEX PLC
FINAL RESULTS for year ended 31 december 2019 and ANNUAL REPORT
Aminex PLC ('Aminex' or the 'Company') is pleased to announce its audited financial results for the year ended 31 December 2019.
Highlights
Outlook:
-- Mtwara Licence extension granted for one year, satisfying one of the last remaining conditions precedent to the Farm-Out transaction with ARA Petroleum Tanzania Limited ("APT")
-- Implemented further cost reduction initiatives expected to realise additional savings of around 25% on top of the cost reductions achieved in 2019 with current expenditure expected to be around 50% of 2018 levels
-- Company is right sizing and right skilling as it transitions from operator to non-operator of its key asset, focussed on strategic growth and consolidation opportunities
During 2019:
-- Funding agreement signed with ARA Petroleum LLC which advanced US$3 million cash consideration, in installments, pending completion of the Ruvuma PSA Farm-Out
-- Equity issue of US$2.2 million, after transaction expenses, successfully completed
-- 30% cost savings achieved in 2019 on like-for-like gross administrative expenses
-- Loss for the year of US$15.2 million, of which US$12.3 million is due to non-cash impairments (2018: loss of US$48.5 million, of which US$43.8 million is due to non-cash impairments)
-- APT and Aminex agreed to accelerate pre-drilling and seismic activities in Ruvuma
-- Submission with the Ministry of Energy for the Nyuni Area PSA to be granted a Second Extension Period with amended work commitments
The Annual Report may be viewed on the Company's website www.aminex-plc.com by clicking on the following link:
Aminex PLC Annual Report 2019
The Company will announce details of the Annual General Meeting in due course, noting the UK and Irish Governments' respective 'Stay at Home' measures introduced to deal with the COVID-19 pandemic, including the prohibition of public gatherings of more than two people .
Paper copies of the Annual Report together with the Notice of Annual General Meeting, including the Form of Proxy, will be mailed shortly to those shareholders who have elected to receive paper copies.
The Chairman's Statement and Chief Executive's Report from the Annual Report follow below:
Chairman's Statement
Dear Shareholder,
Introduction
We live in unprecedented and challenging times; COVID-19 has had a huge impact across the oil and gas industry and, coupled with the recent dispute over oil production volumes between Saudi Arabia and Russia, has led to a very significant drop in oil and gas prices. Our operations in Tanzania are essentially protected from such movements due to current zero production and a f
come on lets have a penny
back to the 0.14's soon.
fairly sure look at the time of the trade
£35K punt for someone
At last ....
make that 7.3%
380 ask
up we go
solid buying
TR1
Just a thought but maybe its the market in general ?? ..........
RNS Number : 6521J
Echo Energy PLC
15 April 2020
15 April 2020
Echo Energy plc
("Echo" or "the Company")
Argentina Operational Update
Santa Cruz Sur monthly cash outflows reduced by 50%
Echo Energy, the Latin American focused upstream oil and gas company, provides a further update on production and operations, and on progress in relation to cost reduction and cash management initiatives to ensure cash flow positive operations at Santa Cruz Sur and substantially reduce costs at the corporate level.
Production and Operational Update
Daily production and operations in the field continue with delivery of produced gas to customers continuing without interruption. Production over the period from 1 November 2019 to 10 April 2020 reached an aggregate of 393,254 barrels of oil equivalent (boe) net to Echo (including 88,728 barrels (bbls) of oil and
condensate and 1, 827 million standard cubic feet (mmscf) of gas).
As a response to prevailing oil prices and the Company's expectation of achieving higher gas prices moving into the southern hemisphere autumn and winter, the Company and its partners in Santa Cruz Sur have decided to focus field operations on the production of gas and, as part of this initiative, ten producing oil wells have been temporarily shut in, reducing gross oil production by approximately 130 bbl of oil per day in the first instance. Shutting in oil wells that have low associated gas will enable resources in the field to focus on gas production and will also assist in managing ongoing monthly cash costs. The temporarily shut in oil wells can be brought back online in around five days when global oil prices recover.
To further preserve value, and as a result of progress made in reducing operating costs at Santa Cruz Sur, the Company confirms that of the 25,813 bbls of oil (net to Echo) currently held in storage, it now intends to sell only approximately 13,200 bbls of oil (net to Echo) in the mid-April cargo, holding the remaining 12,613 bbls of oil in field storage tanks with the intention of selling these barrels at a later date.
Cost Reduction and Cash Management
Substantial progress has been made with cost reduction initiatives in the Santa Cruz Sur assets as a response to prevailing commodity prices. At the end of April 2020 the Company and its partners expect to have reduced monthly operating cash outflows at Santa Cruz Sur by 50% over 2019 levels through substantial cost reductions of ongoing operations and deferments or cancelation of non essential activities in the current environment whilst maintaining safe and sustainable operations.
Additionally, the Company and its partners are pleased to confirm an agreement to extend an existing gas contract, for further two months until 30 June 2020, with a key customer covering a peak volume in June 2020 of 4.77 mmscfd. The extension secures advantageous pricing of US$ 4.2 per mmbtu (calculated with the official exchange rate of the Gov
https://uk.advfn.com/p.php?pid=nmona&article=82218190
RESOURCE UPGRADE
They re getting nada, but they wanted the change of control payment extended to the end of the year.....so they might get something if a deal is done.
Disgraceful