Member Info for blackgold00

"Bg00 I think you'll find they can probably do what they want but I doubt they'd do too much to negatively impact their initial investment in Aex now? I would imagine a lot of negotiations going in the background with regard to zubs future investment in Tanz linked to guaranteed stable supply"

I certainly agree with you there Dunder

: ) lol

" as a lot of shorters and mm's read these boards and base all their decisions on what's posted here!!"

yes agree

"but if the Zubairs pull out of the contract for whatever reason then AEX is left without a paddle and skint"

yes agree, but the deal wasn't done in the pub with just a handshake but is done with legally binding commitments

"Aminex is pleased to announce that its wholly-owned subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement ("Farm-Out") with The Zubair Corporation"

Crusty, just incase you are still in any doubt whether the CH-1 well, will or can be drilled without the Mtwara extension, then this from the F/O circular makes it clear. So the facts are, if the Tanzanian Gov want the CH-1 well drilled then they need to issue the Mtwara licence extension, so the ball is firmly in their court, and in my mind seems that this will be the next domino to fall if they want things to start moving, and I agree with Drewky it could come at any time now. : )

"Ndovu is actively engaged with the Tanzanian authorities and with third-party engineering firms on advanced well planning and drilling management for the Chikumbi-1 well, which is planned to be drilled as soon as operationally possible after receiving the grant of extension to the Mtwara Licence. Chikumbi-1 is being designed to test the deeper Jurassic sandstones, thereby fulfilling one of the exploration commitment wells on the Mtwara Licence"

you in advanced Crusty,

"but all those at the EGM were told there are no approvals and after having explained the background (3 months getting parts no approvals) "

well that's confusing Crusty, (there are no approvals) what are you saying that JB said, they are still waiting for an approval from TPDC to Perforate the Lower Zone, or there's no need for an approval ? thank

yes Drewky, that's how I see it as well, doesn't make any sense otherwise, they've (TPDC) have known about Perforating the Lower Zone for some time now, why have the permission from TPDC to fix the valve and do the testing of (plant etc.) without being able to carry out Perforating of Lower Zone.

Yes the CPR may have made a difference but also by then we had also already stopped producing an income from KN1 - I absolutely think that think was a major contributor to the change in "strategy"

yes agree

yes, I think all avenues were explored, but I do think it became apparent that the Ntorya potential started to emerge as being to big and to important for little old Aminex

10 July 2017Â
Appointment of io oil & gas consulting to Conduct Gas Development Study

"Gas from longer-term development of the field is expected to be supplied to the Natural Gas Pipeline and in conjunction with this Aminex is keen to implement solutions for early monetisation of Ntorya gas prior to full field development and construction of associated infrastructure. The Company may explore options to collaborate further in the future with io oil & gas consulting and to leverage Baker Hughes, a GE Company, and McDermott expertise in developing gas infrastructure in Tanzania."
Â
"The Company is in the process of applying for a 25-year development licence and is working directly with the Tanzanian Government to fast-track gas production for the benefit of the Company's shareholders and the Tanzanian national economy."

" the Ntorya wells would be "self funding" after C1. That is, drill C1 (NT3), await production from NT1,2 & 3 and then use that income to fund NT4, income from NT4 to fund 5 etc."

yes Crusty I remember, but what I think took all by surprise and changed the dynamics of the Ntorya development and no doubt influenced the F/O was that until the results of NT-2 and then confirmed by the Feb 2018 CPR, no one realised how big and important Ntorya was be, to all concerned.

"Ntorya Pmean GIIP: increased to 1.87 TCF, 44% over previously reported management estimates of 1.3 TCF and a 12-fold increase over the 2015 CPR "

good posts from tournesol over at the other side this morning Dunder, don't you think. : )

"eliminating the positive - I get the feeling this is a dying thread, thank goodness."

Tanzania, the thread will bounce back once that licence extension drops, you won't see those neg heads for dust. yes agree gaslady ducks lining up and as Crusty noted from the EGM just how professional the BOD came across.

thanks for the feed back Drewky, every little helps at these times, and keep that source sweet : )

I don't know why Crusty is comparing Orca and M&P situation, with our licence extension.

yes, "Ntorya 3 is not dependent on a 25 year development licence"

Drewky, I could understand if you had actually started drilling and for what ever reason the licence had run out before completion it would be reasonable to assume you could complete the well, but when the licence has already lapsed, and needs an extension to be re-negotiated, then surely that's a different thing altogether. I think

Drewky, please show me where

"As you say it has always been maintained that we are able to drill CH-1 and lack of extension wouldn't impact the freedom to go ahead and drill."

hmm, well I don't know about that, no extension would amount to no valid licence, drilling without a licence? we know the farm-out is contingent on the extension.

Crusty" interestingly JB has stated in the past that we do not need a License Extension to drill C1 (NT3).... "

i don't think so Crusty, I think what was stated was that C-1 was not contingent on a development licence

what this means for KN-1 i'm not sure, but the processing plant that KN-1 supplied was idle, but is now producing ??