Member Info for blackgold00

yes cperkin, and I have a feeling that these assurances re( licence extension) came from the same meeting

FAQ update Jan 14th
What is the latest on a licence extension on Mtwara?

"The Company has been assured by relevant government authorities that the extension is forthcoming and will update the markets once formalised."

I have often thought that as the Mtwara licence extension is initially for just one year, then why would they want it issued until they are ready and have the approvals of the development plan and assurance's of gas offtake. why put the farm-out / development money upfront and then wait a considerable time for gas sales and a return. I think it is beginning to all come together now and that the Mtwara licence extension is a given when required.

from 7 Feb RNS
" Following approval of the Farm-Out by shareholders of the Company on 4 January 2019, the executive management teams of ARA Petroleum Tanzania Limited and Ndovu Resources Limited have met with officials from the Tanzanian Government who reiterated their support for an accelerated development programme to fast track gas production."

yes, they do state if its applicable then it could be waived

"the Farm-Out Agreement is conditional upon a number of matters being either satisfied or (where applicable) waived, including"

page 21
http://admin.aminex-plc.com/uploadfiles/181207_%20EGM%20Circular%20(web%20version).pdf

2. Conditions precedent
The Farm-Out Agreement is conditional upon a number of matters being either satisfied or (where applicable) waived, including:

• approvals by the Tanzanian Government and by Solo Oil of the transfers of the Assigned Interest and of the operatorship under the JOA to the Farmee;

• any other third party consents and approvals required under the documents being obtained in respect of the transfer of the Assigned Interest;

• the Mtwara Licence being granted in a form satisfactory to both Ndovu and the Farmee;

• the shareholders of the Company passing a resolution in general meeting to approve the sale by Ndovu of the Assigned Interest to the Farmee;

• there being no material failures (within the Ruvuma Area) to comply with applicable environmental laws/regulations or good oilfield practices relating to environmental matters identified in any environmental assessment/baseline study undertaken by a firm of suitably qualified and experienced environmental consultants for the Farmee; and

• any operational agreements being transferred to the Farmee or terminated at no cost to the Farmee.

it strikes me, as far as Aminex and its info sharing policy goes, they are behaving more and more as a private company would/might, a bit like (ARA Petroleum Tanzania Limited) maybe ?

life ? only just

maybe the EU commission will pull a rabbit out of the hat, now I wonder what rabbit that would be then Crusty? a second referendum so they can try and overturn the result of the first. these guys are not straight

plus mick, the Ntorya could be just the start, there's also the deeper Jurassic plays and Namisange and that's just the Ruvuma.

I thinking slide 8 shows that they could not increase production beyond the Q4 rate and with KN-1 down, it was then that the TPDC was forced into the temporary deal with Orca, which I don't doubt they are paying more for Orca's gas than Wentworth's.

thanks cperkin, well it looks like the Mnazi Bay field has plateaued now, whether these new operations can tweak that or help maintain the current levels, we'll wait and see.

there's a new presentation out
https://wentplc.com/wp-content/uploads/2019/02/2019-02-13-IRpack-V1.2.pdf

"And yet it is all going to change radically overnight and just because little ol' Aminex needs it to...? "

well, its not about little old Aminex really, its about the influential Zubair's and the potentially rather large development of Ntorya.

"Well I disagree BG - the 25 Year Development License I am told is a totally parallel and unconnected process to the License Extension"

Crusty, the processes of departments to issue development licence or PSA licence are all governed by the Tanzanian Natural Gas Utilization Master Plan, so even the different departments will have the same aim.

https://aminexunofficial.blogspot.com/2017/06/2016-tanzania-final-draft-natural-gas.html

EXECUTIVE SUMMARY
"Natural Gas Utilization Master Plan (NGUMP) is an integral part of the strategy for the implementation of the National Energy Policy, 2015 regarding the utilization of the resources, the improvement of infrastructures and human capital development in Tanzania. The Government envisages coordinated utilization of gas on the basis of NGUMP, and that to the extent possible, detailed technical and economic analysis should guide selection of the best project for implementation that will address mutual interest of the Nation and investors. NGUMP is a strategic document promoting inter-sectoral coordination in the design and implementation of natural gas development activities."

"Even at the EGM JB intimated that they may yet get progress on the 25 Dev License before the License Extension but that doesn't help anything unless the Farm-Out goes through."

mumbled thinking there I think Crusty, as I see it, the 1 year licence extension and farm-out goes hand in hand though I am beginning to think that all might have be waiting on (as you have previously said) the 25 Dev License/gas demand growth curve.

"Support for an accelerated development programme is one thing, the action on many fronts is another; and those dominoes will not fall without that License...."

development programme/licence extension??? you talk as though these government departments are seperate and unconected, but in fact they are part and parcil of the same Government to serve and administer the same aims.

I think the farm-out or the timing for completion is on track or thereabouts, and likewise the 1 year licence extension, but I've often thought, as far as the Zubair's would be concerned why would they want to release funds and put their money upfront for CH-1 and the EPS until that is, they are assured that the gas demand growth is sufficient to take xxx tcfpd of Ntorya gas. not good business I think, having spent all that money on the EPS and then have it lying idle

7 February 2019
" Following approval of the Farm-Out by shareholders of the Company on 4 January 2019, the executive management teams of ARA Petroleum Tanzania Limited and Ndovu Resources Limited have met with officials from the Tanzanian Government who reiterated their support for an accelerated development programme to fast track gas production"

yes, must admit I don't feel overly clever myself at the moment, but then again if the news comes as we hope in the weeks ahead, we could be looking more like geniuses. so peckers up

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AEX&ArticleCode=xowjvo6q&ArticleHeadline=Senior_Appointments__Corporate_Acquisition

Jay Bhattacherjee and Philip Thompson currently own approximately 90% of Canyon and will therefore become material shareholders in Aminex upon conclusion of this transaction. Except in limited circumstances they have agreed not to sell any of their consideration shares for a period of one year from the completion of these arrangements.
Â
Brian Hall, currently Acting Executive Chairman of Aminex, proposes to resume the position of Non-Executive Chairman upon these arrangements becoming effective. He has been a Non-Executive Director of Canyon since 2012 and also owns 191,667 shares in Canyon, being approximately a 1% interest.

http://www.orcaexploration.com/pdfs/OEG_presentation_22_2_19.pdf

yes I think we have had many adverse feelings and experiences,over the years, which might or could be termed as Aminexious maybe a place could be found in the dictionary for this phenomenon : )

"Jean-Claude Juncker complains of 'Brexit fatigue"

he doesn't know the meaning of the word. lol

i don't know what's been more frustrating, Brexit or Ruvuma Aminexit