Member Info for blackgold00

"with the aim of defining preliminary 1P and 2P reserve estimates."

Ah right, so the 1p reserves are those already proved up by NT-1 and NT-2 and the 2p reserves, are the estimates that CH-1 are set to prove up, 2p the probable reserves.

"1P reserves" = proven reserves (both proved developed reserves + proved undeveloped reserves). "2P reserves" = 1P (proven reserves) + probable reserves, hence "proved AND probable."

I can get rid of the vid that's no problem, it's all the other adds that keep popping up. Telegram is so much easier

Ii don't think my phone can cope, is there anything I can do about it, apart from nor bothering to post here🤪

They said it somewhere, can't find it at the moment, but this from SPE.org

"However, reserves must still be categorized according to the specific criteria of the SPE/WPC definitions and therefore proved reserves will be limited to those quantities that are commercial under current economic conditions, while probable and possible reserves may be based on future economic conditions. In general, quantities should not be classified as reserves unless there is an expectation that the accumulation will be developed and placed on production within a reasonable timeframe."

"so why are we still waiting?"

They needed the development licence to be issued first before the 3.45 mmcf giip which is currently classed as resource can be transferred to 1p 2p reserves. Ie the Ntorya development was certain

"Maybe without the CH1 results there is little worth publishing, the 3.45TCF is contingent on the CH1 results for confirmation? "

No Crusty, the 3.45 tcf of gas, is for just NT-1 and 2 NT-2 referred to as unit 1 and Unit 2.

CH-1 "aims to unlock further additional potential

in a third shallower sand unit (Unit 3)."

"The reservoir in the Ntorya Discovery is likely defined by at least two, and possibly three to four main episodes of reservoir bearing submarine gravity flows through the Late Albian, two of which have been proven in Ntorya-1 and Ntorya-2

and referred to as “Unit 1” and “Unit 2” sands."

"The current volumetric estimate includes only

the two main reservoir units, Unit 1 and Unit 2, within the high confidence 75km² area. The near-term planned

drilling of Chikumbi-1, highlighted as CH-1 in Figure 3 and Figure 4 aims to unlock further additional potential

in a third shallower sand unit (Unit 3)."

Sorry that should had been

I suppose, don't know for sure, but 3.45 tcf giip of resource with an estimated 80% recoverable factor would give a reserves of 2.76 Tcf of gas , or somethinglike that. ??

(What is the difference between resources and reserves in oil?)

"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."

Yes, I read somewhere that once the development licence is issued, ( ie route to market is assured) then RPS can transfer resource GIIP into 1P and 2P reserves.

The thing is, the gas already proved up in the (high confidence zone) by NT-1 and NT-2 and now 3D seismic already total 3.45 TCF of GIIP, is plenty to be getting on with.

I suppose, don't know for sure, but 3.45 tcf giip of reserves with an estimated 80% recoverable factor would give a resource of 2.76 Tcf of gas , or somethinglike that. ??

And like you say, post CH-1, figures would then be reassessed?

Now the development licence has been granted, RPS can publish/make known their preliminary 1P and 2P reserve estimates. ???

"With the aim of defining preliminary 1P and 2P reserve estimates."

from 3d seismic RNS

"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."

There you go Tanz

"Aminex also advises that its Annual General Meeting will be held at 10.30 am on 27 June 2024 at The Geological Society, Burlington House, Piccadilly, London W1J 0BG."

No Tanzania, the 27th i think it is, of June

He has a somewhat inflated ego on him, I don't know where some get it from. Lol

Is Frank the fella that got the interview with scirocco ?

Yes he was, and yes it was rather cringe worthy wasn't it. Lol

Sink, Tap, plug

Yes Frank, I really don't think you've done yourself any favours today.

" Are you a liar or an idiot?"

Or both.

Boom boom 😀

Yes, and the commet in the AR, would seem to suggest they already have the rig, as there's no mention of contracting a drilling rig, but just contracting a rig operator??

"with the following planned for 2024, upon receipt of the Development Licence:"

"o  Contract a rig operator to undertake the drilling of the Chikumbi-1 appraisal well and, if successful, to complete the well as a gas producer."

Then when CH-1 is drilled, and if successful in proving up the (shallower sand unit (Unit 3) then a potential further 4.5 TCF reclassified by RPS from resource into reserves. Yes all mind bogling figures

"Furthermore, the new 3D seismic images a possibly even larger area of gas charged reservoir sandstones, beyond the high confidence area established by the new seismic inversion modelling. This provides for potential additional prospective gas volumes associated with the Cretaceous age sand units tested in NT-1 and NT-2 (Units 1 and 2) and for the possible existence of an as yet undrilled shallower sand unit (Unit 3), to be tested by the forthcoming Chikumbi-1 (CH-1) appraisal well later in the year. An upside aggregated GIIP volume for the Ntorya accumulation based on a success case in multiple stacked sands at CH-1, is estimated by APT to be up to 7.95 Tcf (approximated to a mean unrisked P10 GIIP)."

Crusty the 3.45 Tcf in the (high confidence area), thats the area associated with the reservoir sandstone encountered at NT-1 and NT-2. So 3.45 tcf which has already been proved up by two wells NT-1 and NT-2 but also now by the 3 D seismic which has more clearly defined those volumes.

As I'm understanding it once development licence is issued then RPS Energy will not only be confirming the volume/figures but will be reclassifing them from resource into 1p 2p reserves, which should effect the means by which Aminex is valued.

"The interpretation of the 3D seismic has been completed by the Ruvuma PSA operator, ARA Petroleum Tanzania (APT). Seismic inversion geomodelling, undertaken in collaboration with Ikon Geoscience, has defined a high confidence area with a revised in-place volumetric estimate for the Ntorya gas discovery. A most-likely (approximating to P50) estimate of 3.45 trillion cubic feet (Tcf) of Gas Initially In Place (GIIP) is now believed to be potentially connected to the reservoir sandstones encountered in the Ntorya-1 (NT-1) and Ntorya-2 (NT-2) discovery wells. This revised Ntorya volume represents a substantial increase to the published P50 GIIP of 1.64 Tcf estimated by RPS Energy (RPS) in their February 2018 Competent Person's Report (CPR)."