Member Info for blackgold00

i think they are referring to the (PSA licence review) completing

from 2019 HALF-YEARLY REPORT

"Recent changes have provided us with some encouragement that progress can at last be made with respect to resolving the outstanding receivables of US$7.61 million for previous gas sales from KNDL and related interest."

also it is not absolutely definite yet, that the licence and work program will be excepted/agreed. so i guess no one can claim anything officially yet

"The Company has submitted the 2020 Work Programme and Budget for the Ruvuma PSA to the government for approval. The programme is contingent on the approval of various licence matters "

but when would Solo have to pay their share, up-front or as money is spent throughout the year?

i'm pretty sure licence/farm-out is all agreed bar the "various licence matters "

"The Company has submitted the 2020 Work Programme and Budget for the Ruvuma PSA to the government for approval. The programme is contingent on the approval of various licence matters "

i think the Market is undecided and trying to work out when the CH-1 spud might be, but look out RoJo when confirmation of rig contract and spud date drops, it could be sooner than the market thinks and a bit of a stampede

so CH-1 Jurassic is one exploration well then a second after the 2D seismic maybe on the Namisange ?

not so much now waiting on license extension but on a few detailed issues, and i wonder what they might be? as i understand it the Mtwara PSA extension was going to be for just one year and with two commitment wells, but after the last update and re; ("the acquisition of approximately 450 line km of 2D seismic over the remainder of the contract area to identify other leads and prospects") which i belive is the first time we've heard of 2D, makes me think the one of those (various licence matters) are a request for a two year extension (min), so seismic can take place 2020 and the second exploration well can happen the following year or there after.

"The Company has submitted the 2020 Work Programme and Budget for the Ruvuma PSA to the government for approval. The programme is contingent on the approval of various licence matters "

i know it has been a long frustrating wait for us all to see things start to move, but from a business point of view, ARA has laid out no real money yet, and now plan to spend $40 million 2020 on Ntryoa first development phase and its gas production looks set to take up and satisfy the growing gas demand of Tanzania. good timing maybe

"As previously announced, both APT and the Company have seen recent positive movements in Tanzania with respect to the general business environment, growing demand for natural gas consumption "

"It has been excuse after excuse from Aminex and delay upon delay from the Tanzanian authorities."

or something to do with the PSA review maybe mj152

thanks matherdj, sounds reasonable to me, so if no a spud at the end of Dec beginning of Jan, we might get one end of Jan or Feb or even March

yes all very positive and looking further ahead, "the acquisition of approximately 450 line km of 2D seismic over the remainder of the contract area to identify other leads and prospects" should give us a better handle on the Namisange prospect. oil anyone ? : )

from the 05 December 2016 Operational Update just prier to spuding NT-2

"Additionally, the Company has now completed all necessary civil works for the subsequent Ntorya-3 wellsite. Ntorya-3, which will be located approximately 5 kilometers from the Ntorya-1 discovery well, is expected to be drilled following Ntorya-2 but the programme may vary depending on the results at Ntorya-2. Ntorya-3 was identified based on 2D seismic acquired in 2014 and is further up-dip from Ntorya-1 and Ntorya-2. The well is expected to test the thickest part of the Cretaceous channel complex."

going by the satellite images of NT-1/2 and CH-1 sites, are they here talking of a different location for CH-1 or are they further enhancing the existing CH-1 site and access road, so they can get the rig on site and spud during the wetter season of maybe Feb-April.

"it has been agreed to fast-track select Chikumbi-1 "pre-drill" activities including construction of an access road to the Chikumbi-1 wellsite, construction of the drilling surface location,

"Rig owners in the loop? They’ll just want paying."

yes they will, so they will want a contract and will play ball with the situation ARA presents.

i'm on my nights tonight, if you want to leave it there thats fine

i

sorry forgot this bit from RNS
"Alongside our partner ARA, we continue to work towards completion of the Ruvuma Farm-Out, and are proactively engaged with the Tanzanian authorities to obtain the outstanding approvals and licence extension."

depends where the rig is now matherdj, and how optimistic ARA are in getting the license any time soon, they are in the know as negotiations are ongoing, so all concerned are in the loop, rig owners and so on.

what i'm saying is ARA must be pretty sure the licence is coming in the next week or so, if not i guess its a next summer spud.

matherdj, i can't see how we can have the rig confirmation without first the confirmation of licence/farm-out.

"The Company and ARA will advance works so that drilling of the well can commence as soon as practicable following the satisfaction of the remaining conditions precedent,which are the granting of the Mtwara licence extension and government approval for the transfer of interest and operatorship"

the other thing is ARA must had been very confidant at that time re; " discussions with the Tanzanian authorities" for them to secure a contract for a drilling rig, they must know the licence/farm-out is in the bag, just the rubber stamping or something.

when we all read ARA Petroleum statement back in Sept, did anyone think that when they said planing for the early spud of CH-1 that they were referring to the summer of 2020 as the earliest ? no because that did not make sense and as 3 and half months seemed plenty of time to prepare. “We are encouraged by the ongoing discussions with the Tanzanian authorities to be able to accelerate the planning for the early spud of the Chikumbi-1well, through the tendering of services, ordering of long lead items and securing a contract for a drilling rig."