Member Info for blackgold00

Tuesday afternoon, i don't care anymore

i know i'm stuffed full of shares

thanks for that cperkin, yes that make a lot more sense, and as far as i understand it, the 2020 work-program has yet to be accepted or approved by the TPDC yet. anyway CP, one way or another, News has got to break soon.

spot the obvious mistake, I meant the CH-1 drill, sorry

"Also.. They state they are funded for the firm budget.. Is that Fully funded?"

well i don't know that they are gaslady, it seems a bit contradictory their statement today, i mean if they only have £1,063,872 for their 2019 year-end cash unless there is a separate fund some where, they are going to be hard pushed to fund their share of the KN-1 well. ??

"The Company has sufficient cash to support its operations in its current state to the end of Q1 2021 and remains funded for its share of the firm budget for its Tanzanian operations, capital programme and strategy"

hi Krayzie, well, i'm thinking the same or should i say hoping, but i'm also thinking along with the announcement, will come a considerable up-date on the progress towards the 2020 work-program CH-1 and the 3D/2D seismic

Solo
"and remains funded for its share of the firm budget for its Tanzanian operations,"

it seems Solo are not calculating that APT?AEX is seeking "(to move the contingent elements of the previously approved 2020 Work Programme and Budget into the firm budget for the year)" which of course they can and will, as ("Under the terms of the JOA, approval from two parties holding at least a 65% participating interest in the licence will be required to move those elements into the firm budget. After completion of the Farm-Out, APT will hold 50% and Aminex will hold 25%")

AEX RNS 25th Feb 2020

"APT and Aminex have agreed, subject to the requirements of the Ruvuma PSA and Joint Operating Agreement ("JOA"), that upon completion of the Farm-Out and the transfer of operatorship to APT, to request approval from the Joint Venture and the Tanzanian authorities to move the contingent elements of the previously approved 2020 Work Programme and Budget into the firm budget for the year. The intention would be for the seismic acquisition to form part of the immediate work programme and no longer be contingent upon the award of a Ntorya Development Licence. Under the terms of the JOA, approval from two parties holding at least a 65% participating interest in the licence will be required to move those elements into the firm budget. After completion of the Farm-Out, APT will hold 50% and Aminex will hold 25%"

"The Company can report unaudited 2019 year-end cash of £1,063,872, nil debt and an outstanding receivable position of £1,259,768"

are those receivable's that from the KN-1 gas ?

"If Solo cannot keep up their end of the bargain APT and AEX get the 25% for nothing!! They won't be holding things up for Solo discussions."

well, you're absolutely right there Crusty, and that might be the way APT are playing it, but it could also be the case that APT does not want a third party, possibly a larger company coming in on the scene, and would rather come to an agreement with Solo. all speculation Crusty but that's what i enjoy, anyway we are going to find out soon enough : )

well i don't know about position, just trying to make sense of things, Solo have to, either farm out or down their 25% share to an out-side company or to APT, or raise money in the near future to fund the Ntorya developments. so i'm guessing there is a lot of talks going on in the back-ground.

Crusty, all that is needed now is the signature from the (Minister of Energy) the TPDC and PURA have been onboard from the start. i'm just thinking it would be a good time now to tie up Solo's 25% before drilling and seismic expenditure have to start to be realized.

" just another Tanzanian Govt based delay"

don't you think if that is the case, and that, there was a good chance that the F/O approval could be delayed beyond June, then don't you think, Aminex would notify us of a possible extension by now ?

and still no extension, i can't help but feel this is all about Solo's 25% ?

no joeltg, the last time it was announced a good month, prier to the 6 month extension, and the time before that it was as i postedabove

yes you could be right there Crusty

this they announced last year 19th July when the longstop was due to end 31st July. so still hopeful

"Aminex announces that all parties to the previously announced Ruvuma farm-out agreement ("Farm-Out") intend to extend the longstop date to 31 October 2019 should it be required. Whilst acknowledging that completion of the Farm-Out is taking longer than anticipated, due to an ongoing review of active Production Sharing Agreements by Tanzania's Attorney General's Office, the Company and ARA Petroleum Tanzania Limited ("APT") remain actively engaged with the Government of Tanzania to close out the remaining conditions. The Company will make a further announcement if or when the longstop date has been formally extended."

i do get the feeling AEX/APT know its in the bag and that it will be announced on time, or else i would had thought, they would have announced a pre-statement by now, regarding their intentions if the ministry of energy has not granted the farm-out by the 30th June. ?

someone feels positive.

well hopefully the news that Farm-out is complete ? but if no approval has been given by the ministry of energy then i guess they will have to issue an extension of the long-stop, or then again if they think for what ever reason the approval is taking too long or has complication's, then what about, a surprise offer by Zubrai's to take over Aminex who is now in the legal processions of the license extension or maybe merging Aminex with APT ? not a clue really but i think we well hear something this coming week. : )

i cant deny that RoJo. 10 years, bloody hell