Member Info for blackgold00

gaslady, if i remember rightly the securities TPDC held over Kiliwani North was for that (each exploration well that didn't get drilled) TPDC would have a claim of 5% of Kiliwani North Development Licence with its production of course, and as there hasn't been any production for sometime and would therefor offer little if any security, so maybe then, therein lies the dispute?

" I'm guessing the dilution by way of a shared partner will not happen"

yes i don't know how they would do it but cant imagine they would want to dilute their own share/value. though i have a sneaky feeling that some kind of merger has been going on for some time and often thought what the appointment of our good lady Linda Beal was all about, as she is also Non-Executive Director at Orca, like i said Orca certainly has the cash flow

https://orcaexploration.com/about-orca/directors/

i posted this some time back gaslady

I wonder if that now the Ruvuma licence extension has been granted and the new work program agreed, might this not mean that the former securities the Government held over the Kiliwani North Development Licence have been rescinded, and that any reason or justification government officials have had for holding back payment of the $6.7 million of outstanding receivables have ceased, making them now liable to pay. I think maybe Aminex was alluding to this in there Feb update RNS.

25 February 2020
Kiliwani Gas Receivables

"Aminex is in discussion with the Tanzanian government authorities to secure payment of the outstanding receivables owed for gas sales from the Kiliwani North gas field that amount to approximately US$6.7 million (gross) excluding interest. This is finally being progressed after the return of senior government officials who have recognised their obligations and are making efforts to resolve the matter. A meeting has been scheduled and we hope to be in a position to update shareholders soon."

03 February 2014
AMINEX PLC
FORMAL ADDENDUM TO RUVUMA PRODUCTION SHARING AGREEMENT

"The Addendum allows for the remaining obligations under the First Extension Period to be completed in the Second Extension Period, as previously announced by the company on 30 May 2013. The amended agreement requires four wells to be drilled by the end of 2016. In conjunction with the amended obligations to the Ruvuma PSA, the Company has granted TPDC (Tanzanian Petroleum Development Corporation) and the Government certain securities over Kiliwani North Development Licence on a sliding scale basis. As each of the wells is drilled the security reduces and when all four wells are drilled the Government and TPDC will no longer have any further security over the Kiliwani North Development Licence."

yes exciting times, but i do wonder about the arranged marriage and who they have planed to partner Aminex up with? Orca i think stands out like a sore thumb. lots of cash flow, but not to much upside from here

i dont think so mj

"After completion of the Farm-Out, APT will hold 50% and Aminex will hold 25%."

"How would you feel about that?"

I feel, really not bad, no, i'v had a couple more whisky's and now i'm feeling pretty good. You know and I know, we now have, (now the licence has been renewed) a very valuable asset, all we can do is let them exploit it. I'M sure things will become clearer in the days ahead. who said it was easy to make money?

well I really don't know, if he wasn't deliberately trying to take the share price down, then he must be thinking, what the hell have I done. lol, just had a couple whisky's, and you know what, its going to be just fine.

can I have another guess Crusty

what a load of drilling junkies we are.

all is forgiven

yep beginning to think alone the same lines any deal would only be sold to share holders if there was an increase to current share price. so maybe sp was getting to close to what might be being agreed

that's to easy cp, o dear I feel like I want to cry

why did he have to do that video? 0.85 at close of play is my guess : (

will yes maybe, but just had a thought, what about Orca ? good production at Songo Songo and I believe they might have some issues with their PSA, so maybe room to help one another with support of TPDC. also which one of our lovely directors is on the board of Orca, yes that's right Linda Beal. 2+2= ?

https://orcaexploration.com/about-orca/directors/

well I was partnering up Wentworth and Solo, hmm but who would that leave for us.

who would had thought we'd get so excited getting to 1p

movement ?

yes, selling into strength, they seem desperate with what we know is coming down the line. o well

late reported 5 million transaction last thing yesterday, fair chunky, Majedie ?

it would be nice to see it break through 1p today gaslady, not sure though, anyway don't fancy my wooly hat, but i'm pretty sure as we move into next week, that the 1p will only be able to be viewed in the rear view mirror : )