Member Info for blackgold00

no we don't, Goldilocks is just right, not to hot but definitely not to cold just what we need.

hmm, not sure RoJo, she hasn't quite got the move ?

SQ, yes i was thinking along the same lines after i realized, could well had been someone's confidant : )

sorry, confident

2 million share buy ? someone's confidant

that's my shout as well cperking, i'm still sticking with announcement before the election, hoping and praying anyway : )

its all about the asset RoJo, all that lovely on-shore cheap accessible energy, that's what it's all about. is there a song there : )

RoJo "Nobody wants oil anymore Mather."

i dont think you can say that RoJo, supply/demand might be a bit out of sink at the mo hence lower price but i think you'll find liquid fuels consumption is now at about 90 mmbpd.

https://www.eia.gov/outlooks/steo/report/global_oil.php

cperkin, "All current 8 planned wells in Ruvuma would only provide 15% of the capacity"

yes, though i suppose they must be thinking, that at some stage, 10 years +, the off-shore gas will come into play ?

"BG, based on the comments from Orca, they’re still reviewing which PSAs they may look to renegotiate,"

peking, they only have the one PSA. The (Songo Songo PSA)

yes, i go along with a lot of that vike1, WEN has no apatite for risk, why should they, they are siting very comfortably and in these uncertain times, my guess is they will only consider a share of Ntorya if they can get it for a song.

plus Orca needs assurance that their psa license will be renewed when it expirers 2026. i think it interesting Jay Lyons has been appointed interim CEO and not forgetting Linda Beal is a NED, i still have a hunch something going on in background.

https://orcaenergygroup.com/wp-content/uploads/2020/01/Material-Change-Report-1-Strategic-Review-Results-Authorization-of-SIB_9992159_7.pdf

"Under the Songo Songo PSA, we currently have the right to produce and, together with TPDC, market and
sell all gas in the Songo Songo Block in excess of the Protected Gas requirements, referred to as "Additional
Gas", until the Songo Songo license (the "Songo Songo License") expires in October 2026. Our current
contractual obligations related to Protected Gas end July 31, 2024 at which time all gas produced will be
Additional Gas unless otherwise agreed through contract revisions. We have the right under the Songo
Songo PSA to request TPDC to obtain an extension to the Songo Songo License. If accepted, an extension
of the Songo Songo License may require negotiations on the Songo Songo PSA and new contractual
arrangements with the TPDC and the Government of Tanzania ("GoT") to continue to produce and market
natural gas from the Songo Songo License. Such extensions may, in the view of the GoT, be required on
new, as of yet unknown, terms and we cannot assure you that we will decide to enter any such new
arrangements, if available, or that our own attempts to amend the Songo Songo PSA might be accepted.
We understand that the GoT is currently reviewing for a potential renegotiation, the terms of all existing
licenses and related production sharing agreements in Tanzania. For each of our petroleum contracts,
including the Songo Songo PSA, we cannot assure you that any renewals or extensions will be granted or
whether any new agreements will be available on commercially reasonable terms, or, in some cases, at all. "

edgar "The alternative view is that both companies dont need growth elsewhere because they can see how Tanzania is shaping up."

yes agree, but both companies, need to discover additional reserves if they want to fuel that growth.

"So you keep saying BG..."

well, only since 19 May

"The Tax Clearance Certificate has now been submitted to the Tanzania Petroleum Development Corporation ("TPDC") to be forwarded to the Ministry of Energy. The Company has now completed all the requirements to allow the Minister to grant approval of the assignment of the 50% interest in the Ruvuma PSA to APT, the final remaining condition to completion of the Farm-Out."

just one signature RoJo and its out of the mud

yes edgar, without the excess gas that Ntorya will provide them, the new gas powered plants would not even be being considered. yes its Ntorya gas that will be driving new future gas projects for the next 10 years or until new discovery's or/if/when the (off-shore gas) comes ashore ?

"He mentioned several other projects in pipeline, with their expected power production capacity in brackets including Rusumo power project (80MW), Mlongo project (14MW), Kakono waterfalls in Misenyi to (87MW), Kinyerezi II gas power plant (248MW), and Kinyerezi I (325MW).

"He stated that his government will also use natural gas in Mtwara to produce 300MW in the region, Somanga Fungu gas plant in Lindi (330MW), Kinyerezi III (600MW) and Kinyerezi IV (300MW)."

double yawn

"IMO. The Tanz gov want to build the pipeline from Ruvuma to Madimba gas plant and probably want a large split in gas sales in their favour, "

well there is a cost to build the pipe-line $20 million plus, going by slide 13 of 2018 presentation, though i cant see that as hindering negotiations or preventing the Farm-out signoff at this stage of the Ntorya development, but maybe later on and after the CH-1 well is drilled and the 3D seismic information gathered/interpreted in preparation for the development license application.
2018 presentation slide 13
http://admin.aminex-plc.com/uploadfiles/Corporate%20Presentation%20Oct%202018.pdf

Ruvuma Licence Extension Granted
https://www.lse.co.uk/rns/AEX/ruvuma-licence-extension-granted-dfdvdbo7dvtru40.html

"The extension, which was applied for in late 2017, is valid for one year. Under the terms of the extension the Company, through the Ruvuma PSA Joint Venture, is committed to perform the following works during the extension period:"

· Acquire 200 square kilometres (surface coverage) of 3D seismic (min. expenditure of US$7 million)"

· Drill the Chikumbi-1 exploration well (min. expenditure of US$15 million)"

· Complete the negotiation of the Gas Terms for the Ruvuma PSA with the Tanzania Petroleum Development Corporation"

· Using the data gathered from Chikumbi-1 and the seismic acquisition, prepare and submit an application for a Development Licence for the Ntorya Location area."

lol : )

"whisper. I'm afraid it's not looking too good for this month "

whisper, why is that Northern, do you know something that we don't know ?