Member Info for blackgold00

also, I think they deserve full marks for this

"During the latter part of 2017 and into early 2018, Aminex built the case and put forth a proposal for a new delineation well. While progressing the technical merit of the new location, the team identified a deeper Jurassic-aged prospect underlying the Ntorya gas field. The prospect was named the Chikumbi prospect and the Chikumbi-1 well has been reclassified as an exploration well."

yes Drewky, I'm inclined to agree, drilling CH-1 soon after granting of licence

"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."

Drewky, "the licence should come with the gas terms & GSA attached to it,"

Drewky, that is the development licence, not the Mtwara PSA extension licence ? thanks

"The application for the Ntorya Development Licence was submitted in September 2017 and award is pending negotiation of gas terms and a gas sales agreement. During 2018 we were notified by the Tanzanian authorities that a gas negotiating team has been formed and we look forward to conducting negotiations with them in 2019."

this is going to be a big, potentially a very big development, obviously the Zubair's and the Tanzanian Gov, need the agreements to be in place also fair and workable.

yes, from where we are now, that is, from the very depths of despair, it don't think it would take much positive news : )

recovery, please

Crusty, Ntorya 2P resources will not become 2P reserves until we have the pipeline and GSA " in the bag"

yes thats right Crusty, once development approval/licence granted ect. but we have still been told the size of Ntorya as they understand now, that is from the NT-1 / 2 wells plus seismic, roll on CH-1, I think our friend mick is going to enjoy that one : )

mick, 1) "Aminex will hold a smaller stake in a smaller field then Wentworth"

that can't be right, Ntorya is larger even without the Jurassic target ?

Wentworth CPR
https://wentplc.com/operations/tanzania/

"The Company has recently commissioned an RPS Canada Competent Persons Report (“CPR”) evaluation of the Mnazi Bay field’s reserves which has resulted in gross 2P reserves of 482 Bscf of gas, with 100 Bscf of net attributable 2P reserves to Wentworth Resources (with an effective date 31 December 2018)."

and Aminex (Competent Persons Report 05 February 2018 )

https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Results-of-Competent-Persons-Report/76629781

"Ntorya 2C gross Contingent Resources: increased to 762.8 BCF after the results of the Ntorya-2 well (approximately 11 times increase from 2015 CPR). This comprises 80.6 BCF of Contingent Resources "Development Pending" from a three well development and 682.2 BCF of Contingent Resources "Development Unclarified" (see Appendix for full range of Contingent Resources) "

fjones, "but it is the case whether they feel it worth the risk at this current time with the way the contract is eg (NOT SIGNED)"

they already have a signed (Gas Sales Agreement) licence, to sale KN-1 gas. so what is the hold up?

mick, "Given that TPDC is by law obliged to also take a 25% stake in the project ,"

half year results
"Under the terms of the Ruvuma PSA, after the grant of a development plan, the TPDC may elect to contribute up to 15% of development costs in order to obtain a participating interest of 15% in production and revenues."

yes, but the have just raised £1.85 million and for what little cost to perforate the lower zone? compared to the potential production of xxxxmmcfd, it seems a no brainer. COS? well always a risk, but they have the well logs that indicates the gas is there.
No I think KN-1 is being held up or dragged out for some other reason, is it because of the back dated payments disputes? or could it be something else, I've often wondered that it might well suit the Zubair's and strengthen their hand during the development licence negotiations, if they did not make available to the Tanz Gov further increase of gas supply at this time during the negotiations. ??

Yes the tembo well cost them dearly, aex results next week now i guess?

thanks hardnose

yes, they still expect one to be issued, but maybe with just two names on it ?

yes, "they still expect one to be issued" but maybe with just two names on it?

Drewky, do you not wonder whether the Zubair's might be interested in Solo's share of Ruvuma?

yes does make you wonder,
from todays RNS
"The Board has made good progress against the key objectives outlined at the AGM in August 2018, with the focus on the monetisation of the Company's position in key assets, and notably the divestment of its interest in the Horse Hill development and of PEDL331 on the Isle of Wight both to UK Oil and Gas plc. This work has been conducted in parallel with the Board's ongoing efforts to achieve returns from our core projects: the Ruvuma and Kiliwani North assets."

Corporate & Operational Update 11th Feb
· "Ruvuma monetisation options being reviewed: the Company has received a number of unsolicited indicative approaches by industry counterparties regarding its 25 per cent interest in the Ruvuma Gas Development project which the Company continues to review."

just like Brexit, lol. I'm not arguing with you again Crusty : )

sorry rose

ross tinted glasses, i'm not sure, but i'm now getting the feeling that the F/O (maybe with a caveat) will complete by end of month. but i'm defiantly not sure about Brexit : ) lol