Member Info for blackgold00

well, I think i'm ok in that regard, I was able to persuade my good wife to then persuade me to buy some more shares at the last lows, she's very happy at the moment. : )

thanks for sharing Frank, i'm guessing we will hear the news first from Aminex/ARA re; (granting of licence extension) well before any news paper.

well, going by the statement in that article of "ongoing activities in Ntorya in Ruvuma basin Mtwara region" plus the RNS re;(Acceleration of Drilling Operations ), then I for one will not be surprised, if/when in the next week or two we get an RNS confirming that the drilling rig is secured and potential spud date.

"may well have no choice if we don`t have the Licence by June "

going by the conference there's not much chance of that, pluss ( Farm-Out Update & Acceleration of Drilling) RNS states

"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

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.

yes could be Robbie, but then, there is the question of Solo's 25% funding of the full development project

"IF you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:"

yes totally agree cprkin, the political landscape or legislation's now emerging will give the confidence for both the oil gas exploration company's to invest and Tanzania to grow the gas infrastructure

ah, the phantom RNS

why am I seeing that there's an RNS

" near future"/"will shortly conclude" i'm thinking weeks rather than months

"We have recently seen positive movements in Tanzania that suggest the review process is coming to a conclusion and the approval processes will be unlocked in the near future and these movements provide us with encouragement that the long awaited farm-out of Ruvuma ("the Farm-Out") and the Ntorya Field appraisal and development project with ARA Petroleum Tanzania Limited ("APT") will shortly conclude."

and this bit I think they are referring to the progress of the PSA review ? which will enable them to resolve the outstanding receivables of US$7.61 million

"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. "

yes thanks Robbie, and I cant imagine that ARA and Sakson have not been in and are still in close communication regarding suitable rig availability

Sultan Al-Ghaithi commented:
"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-1 well, through the tendering of services, ordering of long lead items and securing a contract for a drilling rig".

yes, I think you might have there Ro Jo : )

I wouldn't wait to long making up your mind RoJo, if that is, you're thinking of getting in or buying more at the current sp level

Sultan Al-Ghaithi commented:
"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-1 well, through the tendering of services, ordering of long lead items and securing a contract for a drilling rig".

Yes agree, they are expecting it to be signed off by end of Oct

no

yes thanks Robbie and it wouldn't surprise me, and as Aminex say in there A/R, they are "well-placed to commence preparation activities for a Chikumbi drilling campaign to delineate the Ntorya gas field and to test the deeper Jurassic Chikumbi prospect"

"While awaiting the Mtwara Licence extension to be granted, Aminex has progressed the drilling programme for Chikumbi-1 and has designed and received early environmental approvals for a 3D seismic programme over the Ntorya development. The Company also ran a competitive tender for a drilling rig and selected Sakson drilling to drill Chikumbi-1. The Company is well-placed to commence preparation activities for a Chikumbi drilling campaign to delineate the Ntorya gas field and to test the deeper Jurassic Chikumbi prospect"

yes nearly there but not quite , my brackets

"Regarding field operational activities, the slickline and pressure monitoring campaigns continue and the Company is engaged in regular dialogue with M&P, the Operator, in relation to the optimal production strategies for the asset. (Following the ongoing Production Sharing Agreement ("PSA") reviews,) the Partners will look to secure a licence extension beyond 2031 to allow the joint venture to unlock the material prospective resources remaining in the concession."

yes agree, but as I understand it there will be a sharing of staff resource between Aminex and APT, though and i'm thinking now that the Zubair's have got plans for Aminex

hi MAX, Eclipes can only appoint two directors, so I guess them replacing Mr Sultan Al-Ghaithi by Mr Ambrose at this time, and given Ambrose qualifications would seem to suggest he has been brought in to help take Aminex forward into the development and production phase.

"Under the terms of the Shareholder and Relationship Agreement dated 8 July 2016, Eclipse Investments LLC ("Eclipse") has the right to appoint two directors to the Aminex Board. Along with Mr Ola Fjeld, Mr Ambrose is a representative director appointed by Eclipse."

"Mr Ambrose is the Chief Operating Officer of The Zubair Corporation's Energy & Logistics Division. He has a Petroleum Engineering Masters from Imperial College, London, and a Mechanical Engineering Honours Degree from Brunel University in the UK. He has over 30 years' experience in the oil and gas industry, from downstream to upstream, covering many aspects of the supply chain and has experience in and held senior management roles involving the reservoir, well construction and production both onshore & offshore."