Member Info for blackgold00

so the $3 million advance is being paid in instalments to the Company, so is that X amount each month ?

24 September 2019
" Aminex and ARA have signed a binding heads of terms, whereby ARA has agreed to provide a $3 million advance in instalments to the Company, ahead of Completion of the Farm-Out ("Advance"), which provides the Company with financial flexibility pending Completion. The parties will agree and sign a fully termed agreement as soon as possible;"

6 November 2019
· " The Company will shortly commence receiving advance payments of up to $3 million against the cash consideration due on completion of the Ruvuma Farm-Out; "

I mean, at this stage, what else can we do

Tom Mackay
"We thank shareholders for their continued confidence in the project and patience during this time of internal government reform. We look forward to updating the market as and when progress is made."

Ntorya Project Update
"The Company has prepared and is in the process of receiving approval from the appropriate authorities to proceed for securing the services required to drill the Chikumbi-1 well. The Company is confident that it will pass another significant milestone in progressing the Chikumbi-1 exploration well."
"APT is preparing to become functional in country having taken on offices and staff accommodation in Dar-es-Salaam. The Company, with APT, has met with various local contractors as part of the pre-project assessment of locally available services."

" Upon submission of the PSA Review report to parliament,"

well if anyone knows the working's of the Tanzania parliament then we might know beforehand when the submission will be placed/heard

hopefully we'll hear something regards PSA in next weeks results, fingers crossed

"The PSA reviews are due to be published later in 2020 "

I hope that's not the back end of 2020, as if that is the case and the PSA's are not resolved before end of June's backstop cut off, then I think Aminex and APT needs make public Farm-out intentions, as soon as that becomes apparent.

yes cperkin, good to see there's still some still have faith in the oil market and yes the East African Crude Oil Pipeline is good news where no doubt the tanz Gov will want to seize the opportunity to progress gas sells to Uganda, and so look to build the gas pipe-line along side.

yes, and i wonder what assets the loan would be secured against and would there be any value by then, that is if the license has not been granted ?

i wonder if they still "do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out"

"The Long Stop Date for Completion of the Farm-Out has been extended to 30 June 2020. While the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out, this demonstrates both parties' commitment to the transaction;"

· " If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing secured loan, repayable by 30 June 2021."

no, thanks fjones, i'm fine in that regard, though I am excited in a strange sort of way, these are unprecedented times, don't you think.

yes highroller, the oversupply is temporary, but no one knows at the moment, how long this temporary period will last or what adjustments are needed to rebalance the supply and demand, but, for the here and now, thoes colossal debts that have funded oil companies exploration etc needs to be addressed some-how?

" without doubt the game is far bigger than AEX." yes and Aminex in my mind, being out-side and in a way shielded from the affects of the international oil/gas arena, are still in with a chance to have licence and farm-out completed .

https://www.nytimes.com/2020/03/20/business/energy-environment/coronavirus-oil-companies-debt.html?auth=login-email&login=email

https://www.youtube.com/watch?v=wQuXDvA8l24&feature=youtu.be

hi john

https://www.lse.co.uk/rns/AEX/ruvuma-farm-out-update-and-acceleration-of-drilling-bflse1bukuazcay.html
· The Long Stop Date for Completion of the Farm-Out has been extended to 30 June 2020. While the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out, this demonstrates both parties' commitment to the transaction;

· If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing secured loan, repayable by 30 June 2021.

i'm thinking that APT will be negotiating with Solo regarding the new proposed 2020 Work Programme ie; for (the seismic acquisition to form part of the immediate work programme), and whether that might lead to an agreeable offer being made for part or all of Solo's 25 % share of Ruvuma PSA??

"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"

a deal in the making? my money is on some kind of agreement with Solo's Ruvuma stake.

sorry that should have read, (then it would most likely be)

hi dunder, keeping well and safe I hope, the most likely conclusion is, if there is any news leaking from the good ship Solo, then I would most likely be related to their Tanzanian assets

Tanzania
Solo Mon, 2nd Mar RNS
"The Board is encouraged by the continued positive statements by the operator, Aminex, and its prospective farm-in partner, APT, and the apparent progress being made with the Government of Tanzania towards resolution of the outstanding licence renewal. "
"The Company continues to see a consistent level of unsolicited interest in its Tanzanian natural gas assets. Within the last 18 months, a number of expressions of interest have been received, alongside direct approaches, each of which was explored, but found at the time, not to be considered in the best interest of shareholders."
"As a result, the Board has determined that the most appropriate course of action is to run a formal process to explore value realisation options for the assets including, but not limited to, the sale of Solo's interests in the certain, or all, of its Tanzanian assets. In particular, the Board is confident in the inherent value of its 25% interest in the Ruvuma asset and will consider reasonable offers that reflect the quality of the asset and its significant upside potential. A formal dataroom has been established and the Company intends to launch a formal process in the course of the next week 7-10 days. Further updates will be provided as and when appropriate."

goodness me 55018, have you not seen the share price of all the other oil/gas company's

"News by the end of April anyone?"

well Northern, the AR is due end of April, but whether there's going to be any real news, we can only hope and pray for : )

yes matherdj, I'd be up for that when we eventually come out the other side. On my night shift at the moment, but wow what a beautiful day, with the sun shinning brightly but also feeling so calm and still, reminds me of when I was a child back in the 60s, with not much traffic on the roads nor planes in the sky.

"USA and UK big money stimulus "

yes maybe a bit of a bounce, but, that ever growing debt driven system, is reliant on a delusion, that you can have eternally expanding economy's on a finite planet, I think, has just hit the buffers of reality. yesterday has gone, welcome to the new tomorrow.