Member Info for blackgold00

yes cperkin, that does seem to be their intent

AR
"Aminex has completed an updated well design for the Chikumbi-1 exploration well and has redesigned a significantly larger 3D seismic programme than was originally planned. The changes to the seismic programme reflect the requirements and intent of our farm-in partner, and future operator, to gather all of the information required during the early stages of their involvement in the project in order to rapidly progress to full-field development and thereby, early cashflow from the Ntorya gas field"

yes that does make sense matherdj, and agree, I think next week is going to be quite telling

the thing is it would seem, that Solo can not contest the newly proposed increased work program and might there-fore be more ready to seek an agreement.

RNS 25 February 2020
" 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%"

possibly cperkin, we know these talk could very well be taking place right now, with the Tanzanian authorities and Solo, and might very well lead to discussions regards Solo's 25% holding

25 February 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. "

"After completion of the Farm-Out, APT will hold 50% and Aminex will hold 25%. Assuming that approvals under the JOA and PSA are granted, the firm budget will then include the drilling of the Chikumbi-1 well and the acquisition of an extensive 3D and 2D seismic survey. The total value of the contingent elements proposed to be reclassified to firm is currently budgeted at approximately US$40million (gross)"

yes Sambo12, that's why I emphasized technically or legally, but in reality we know and they know the farm-out is essential.

technically, the granting of the licence is wholly Aminex's as the current operator, the 50% farm-out to APT is a complete separate issue. technically

"isn't it squeaky (not sticky)

Frank knows what he meant, sticky bun time. yummy

"I wonder what the hold up is this time?"

Solo playing hard ball ? : )

unprofessional ?

well, as things stand, they did managed to get the Capital Gains Tax out of Aminex, (the profit), for Farming down part of the Ruvuma license, without that is, Aminex completing and actually farming down. so i'd say they're very professional. lol

yes thank for that, i knew APT/AEX upgraded the road going into the CH-1 site and assumed that was the reason the drill is not dependent on the dry seasons. but didn't realize Dangote had built a road into the area adjacent to the drill site, i can not see it on google maps as of yet so wonder where that info came from Crusty. thanks in advance

and of course covid-19 could be influencing the AGM date ?

sorry that should had been the (11th July 2018)

" I would rather just get a date and quickly than dither along waiting for any material news"

well yes . they could do that, couldn't they and generally their AGMs are held May/June, the last time it was held July was on the 12th 2018 and that meeting was accompanied by the (Transformational Ruvuma Farm-Out) RNS on same day , coincidence or what. either way, time will tell

"One more time - nothing in Tanzania is that predictable."

yes agree, so those with the rose tinted spectacles might this time be right : )

yes thanks joeltg, i'm pretty sure its all in the bag, but I do have a hunch, that APT and maybe AEX are talking with Solo to get some kind of agreement in place before the F/O announcement which might well have accompanying it the immediate work-program, that Solo are eligible for 25%.

"board are working tirelessly to get the farmout over the line,"

but I didn't think there was anything left for the board to do ?

please don't all ring at once : )

yes well, short termers/traders and those of a nervous disposition maybe : )

o no RoJo, you don't mean something like another extension to the long-stop, Ahhh shock horror :

A/R
"The work programme for the Ntorya field will include the acquisition of new 3D seismic data, the drilling of Chikumbi-1 and is expected, with success, to include the drilling of multiple wells required for full-field development and related infield production infrastructure. Chikumbi-1 has been designed to delineate the Cretaceous Ntorya gas field and to test the deeper Jurassic ‘Chikumbi’ prospect to fulfil one of the outstanding exploration well obligations on the licence."