Member Info for blackgold00

was that 2x2 million trade (buy) at end of the day

"I do not see any reason for thinking that APT would not allow Solo the benefit of the cost savings;"

yes maybe Crusty, but still only wondering, why should Solo benefit from any cost savings, that will arrive from the Aminex Zubair F/O deal and the financial strength that will enable the APT to batch drill, Solo being no part of the farm-out?

"Therefore Solo will have to fund their share of another drill ($5 million?)"

yes, just wondering, the discount that APT can achieve by batch drilling and that will be past on to Aminex through the F/O, will not necessarily apply to Solo, so maybe the Zubair/APT might have some leverage to negotiate a deal with Solo, if it so wishes.

"I will be very interested to see what they get for it"

yes, and it will be interesting to see who is interested in purchasing part or all of Solo's 25% share, Zubair's? anyone

"Chikumbi-1, which will be drilled to a total true vertical depth of 3,485m, will fulfil one of two remaining exploration commitment wells"

so if Chikumbi-1 deep Jurassic target fulfills one of the exploration commitment wells, what (as of yet unannounced ) exploration well will fulfill the second commitment well? another Jurassic target whilst drilling the Ntorya development wells or the Nanisange prospect ? all exiting stuff what ever

yes Crusty, it must be 12 months/1 year, from the date of the extension, or else it has already expired again. lol

("The Company expects the extension to be for 1 year with an option to extend the term by a further 2 years")

So I guess APT will want to hit the ground running when the Mtwara extension arrives, so as to carry out the work commitments ?

from circular
"Ndovu has applied for an extension to the Mtwara Licence and the Board has been given a reasonable assurance from the Ministry of Energy for Tanzania of a favourable outcome before completion of the Transaction. The Company expects the extension to be for 1 year with an option to extend the term by a further 2 years"

3,770,684,843

7th Feb
"The Company continues to progress its farm-out agreement with the Zubair Corporation over its Ruvuma PSA ("the Farm-Out"), where it will be potentially fully carried through to full field development with meaningful cashflow. 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."

couple of points dunder, at the time of the NT-2 results, we were already under the strong influence of the Zubair's having a 30% interest, so no doubt they would had been behind the direction and course Aminex took from there. Also because of the large projected size of Ntorya that was being revealed by the NT-2 well the decision was taken to apply for a development licence which must have took considerable resource.

In my mind at that time, the necessity was not to prove up more gas but to get what gas was discovered, developed (EPS), plus I also think they have been able to use the NT-3/ Chikumbi well as leverage during the licence's negotiations.

yes dunder, I don't think it dawned on then, that the impermeable layer was there until Aug of last year, or there about, I suppose they were wondering why the gas was dwindling, first thinking it being compartmentalised then with water increasing and knowing they had a gross sixty metres gas interval, so trying to make sense of it all by referring to the KN-1 logs they then identify the impermeable layer separating the upper and lower zones. I think, maybe, who knows, fingers crossed, perforating the lower zone works : )

https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Tanzania-Gas-Discovery/25301902

"KN-1 has intersected a substantial gas column in Lower Cretaceous sandstones,
the same reservoir that produces gas commercially in the neighbouring
Songo-Songo gas field. Electric logging has been completed and formation
pressures taken which confirm the presence of gas over a gross interval of
approximately sixty metres. This vertical well was drilled to a depth of 2030
metres (6,687 ft), ahead of schedule."

about 1:15 in, note his apparent loss of words

https://www.youtube.com/watch?v=QQhhGwR4TZo

"you will have to be patient.."

O dear, not another 10 years

"everyone likes nice new discounted shares at the bottom of the market don't they?"

yes they sure do Crusty, so hopefully fingers and toes crossed, its onwards and upwards from here. : )

you might have something there drewky, but off out now to find some slabs fore path, catch you later,

yes not a bad article

‘I think the resources sector generally is getting more attractive and there is more optimism than there has been over the last few years. Within this space, Aminex offers an exciting portfolio with plenty of production development and exploration opportunities as well as a good farm-out deal that is signed and in motion and is going to bring meaningful development and cashflow."

Drewky, gas sits on top of water, as the gas is drawn off and or pressure reduced the water will rise and flood the well. is my basic understanding.

yes dunder, all would depend it would seem, on the impermeable layer that separates the lower zone from the upper and provide the barrier from the water ingress as slide 17 demonstrates. and as it states the lower zone could have virgin pressure. but like you say all educated assumptions from Aminex

just for info

https://info.drillinginfo.com/well-completion-101-part-2-well-perforation/

i'm now guessing the top perforated zone needs to be plugged to stop water ingress, before perforating lower zone

yeas interesting cperkin, top guns? Is it the top of that diagonal line, like you say, Hey ho, wait and see as per usual.

you're the expert dunder, tell me what should be, can be done. thanks : )