Member Info for blackgold00

"Anyway, I'm emailing the company to ask for clarification, anything I'm advised I will post here."

StockCheque, what is Knights email contact. Thanks

Well Crusty, it just doesn't make any sense what you're saying, or should I say what you're saying that the Board member said, are you sure you haven't miss quoted or understood him. Which board member was it anyway??

Crusty "Sorry BG I have no details on that."

Well that's a shame Crusty 🙂

Crusty, in oil and gas, there a big difference between the classification from resource to reserves and the reasons for doing it.

https://en.m.wikipedia.org/wiki/Oil_and_gas_reserves_and_resource_quantification#:~:text=Resources%20are%20re%2Dclassified%20as,within%20a%20recommended%20five%20years.

"Potential subsurface oil and gas accumulations identified during exploration are classified and reported as prospective resources. Resources are re-classified as reserves following appraisal, at the point when a sufficient accumulation of commercial oil and/or gas are proven by drilling, with authorized and funded development plans to begin production within a recommended five years.[3] Reserve estimates are required by authorities and companies, and are primarily made to support operational or investment decision-making by companies or organisations involved in the business of developing and producing oil and gas. Reserve volumes are necessary to determine the financial status of the company, which may be obliged to report those estimates to shareholders and "resource holders"[c] at the various stages of resource maturation."

And this still the official line of ARA, from their 3D Seismic report 29 Feb 2024,

("Contingent Resources will be matured to Reserves upon formal development approval." )

Of course to have resources transferred to reserves needs to be done by an independent assessment valuer, a CPR. so I'm still expecting news on the (Competence Person's Report) until I hear officially

Executive summary

"Development activities are ongoing, and the first gas production is targeting up to 60 MMscf/day from Ntorya￾1, Ntorya-2, and Chikumbi-1 via a new spur line from Ntorya to the Madimba Gas Processing Facility and

onward through the existing 36” gas pipeline to industrial customers in Dar es Salaam. Tanzanian authorities

have indicated that the spur line will be completed by the first half of 2025."

"(Contingent Resources will be matured to Reserves upon formal development approval. ) Further successful

appraisal and development wells are expected to significantly increase production, commensurate with the

enlarged gas volumes."

Ah, OK Crusty, but this is the official line, with no mention of re-drilling. ??

"· Re-enter and repair a tubular leak in NT-1 to enable the well to be safely completed as a gas producer."

Or are you suggesting a side-track well into a thicker section of the sandstone. You know they were planning a side-track well before they decided on NT-2 yes interesting.

Crusty "and that is the reason that NT1 is being "re-drilled"  "

Re-drilled, now that is interesting Crusty, what do you mean by re-drilled, as there was only 3 metres of net pay at NT-1, are you suggesting in another location??

And this from last years half year results

September 2023

"We are pleased to report that all activities on Ruvuma continue to progress under the efforts of the operator, ARA Petroleum Tanzania Limited. We look forward to receiving a revised CPR based on the high-quality data achieved from the acquisition of the Ruvuma 3D seismic survey that will permit a complete revision of gas reserve and resource potential;"

And this was RNS 29 Feb 2024, and that's over a year after the Tanzanian Government had already (committed) to building the spur pipeline. So for a member of the BOD to state the CPR is not happening now, seems a bit out of place, if not out of time as we've been told RPS has been engaged for sometime now, 9 months??

"RPS has been engaged to undertake a revision of their 2018 CPR to support the initial Field Development Plan. The study is likely to focus on a much narrower area of the reservoir, surrounding the two existing wells and CH-1 location that will be targeted for initial production, with the aim of defining preliminary 1P and 2P reserve estimates."

Thanks Crusty, yes I expect one or two will be contacting Knights to find out the official position regarding ARA commissioning the CPR

This from ARA

(Revised Resource Potential – Post 3D Seismic )

February 2024

1. Executive summary, Page 3.

"Contingent Resources will be matured to Reserves upon formal development approval. Further successful appraisal and development wells are expected to significantly increase production, commensurate with the enlarged gas volumes."

Crusty, "Oh and for those that were wondering, there will be no CPR. The original requirement for a CPR was at the request of the TPDC to justify, or provide sufficient confidence, for them to commit to the Pipeline build. Over time, the TPDC received the comfort and confidence that they needed and the requirement fell away; which then meant that a CPR was no longer considered necessary."

Crusty, I think thats a crucial bit of news, how did you come by this revelation, was it part of the AGM presentation/questions and answers, or from talking in person to board member at the end of the meeting. Thanks in advance

Crusty." If so, the capacity of the pipeline (140 mscfd) will very soon be exceeded with the drilling of subsequent wells. "

Crusty did the BOD confirm the size/diameter of the pipeline TPDC are laying, 1ft or 2ft ?? as it seems to me the possessing plant can be easily extended where as the pipeline would have to be completely re-done.

And thanks for confirming TPDC 15% back-in rights.

RoJo ". I have a portfolio of in excess of 50 stocks "

And over 95% of your posts are here deramping, lol, you are a strange one RoJo, you're becoming more and more transparent. 🙂

Yes StockCheque, I'm thinking we'll get an operation update tomorrow morning, like last year, the day before the AGM. It gives people time to take the info in. 🙂

"I'm here, watching and reading the ramping"

Yes I expect you are Skinwalker. Lol 😂

"cleaning the toilets in that boiler room"

That's about the level RoJo has stooped to 🙂

"You haven't understood anything I've posted yet."

I think he has rojo, I think we all understand what you're trying to say. 🙂

Yes an absolute plonker, a fictitious character making fictitious claims, trying to sound smart, all to influence the uninitiated, so i don't think he gives what we think. Yes there's some strange characters out there lol 🙂

Oh, they'll be back, after morphing into their next unearthly form. 😱😱😈😈👹👹