Member Info for blackgold00

that's it then, the Zubairs have it
,

the presentation just the same as Octobers. what excitement, lol

Crusty going to the EGM I guess ? he'll sock it to them

"Guessing there's nothing new then," I don't know about that, you might find a whole load of new encouragement in there : )

I was expecting a presentation of such at least, maybe just before EGM ?

oh, you're such a happy chappy Tarry

been on nights, just got up, ah share price up as well : )

Crusty, I think you are missing a very significant point

Crust, I think you are missing a very significant point

so you think the TPDC and the Tanzanian Gov't have little to no regard towards the Zubairs farm-out deal and the money they will be investing in the Ntorya gas development

crusty, after the vote tomorrow they, the Tanzanian Gov/Zubairs will have us in the bag. game over

Crusty, "I do not see that there is any great urgency or need on the part of the Tanzanian Govt to confirm the License Extension any time soon"

for what purpose Crusty, what would be the point, I mean how would that benefit them or indeed the Zubiars?

Crusty, just go to bed

ti says theChikumbi-1 well "fully carried"

"Notwithstanding this, the Chikumbi-1 well is expected to be an exploration well and would meet one of the exploration well commitments with the Company fully carried, reducing its exposure to its Participating Interest of the remaining exploration well"

no Crusty, the point I was making is that in the circular they said that ("should the Tanzanian Government or the TPDC include within the Mtwara Licence a work commitment to drill up to two exploration wells",) which indicates that the Mtwara drilling commitments hadn't been agreed at the time of publication.

where as in the operational update they state that the Chikumbi-1 ("will fulfil one of two remaining exploration commitment wells") which suggests that Aminex has now had it confirmed that the Mtwara licence will be issued/extended with drilling obligations to drill two exploration wells.

Crusty regarding "that would suggest that AEX have to carry 25% of the costs of C1 drill then?"

this is the following sentence of the same paragraph

"Notwithstanding this, the Chikumbi-1 well is expected to be an exploration well and would meet one of the exploration well commitments with the Company fully carried, reducing its exposure to its Participating Interest of the remaining exploration well.

should, (used to indicate what is probable.) so I don't think so Tarry : )

two small different words, (should and will) with very different meanings. so since the publication of the circular, has Aminex been told they have the Mtwara extension in the bag?

from circular 7 Dec, my brackets

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

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

"Pursuant to the Farm-Out Agreement, Ndovu has agreed that (should the Tanzanian Government or the TPDC include within the Mtwara Licence a work commitment to drill up to two exploration wells,) then the costs and expenses of such wells shall be borne in accordance with their respective Participating Interests and those costs and expenses shall not form part of the Carry"

from Operational Update 17 Dec

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 why did we have to wait for 6 months between the 'transformational' farm-out and EGM?"

i don't know Tarry, but it is going to be a big expensive development and no doubt a lot of nigosiations have taking place between Tanzanian Gov and Zubairs/Aminex, so i'm not supprised timelines/dates were extended, they have to get it right.

ill try again

"Even IF that were true you forget to mention one very small point and that is that it is ALL contingent on getting a License Extension and a Farm-Out by 31st March otherwise we are all in deep doo-doo"

don't be such a drama queen Crusty, I would say, as far as the Tanzanian Gov/Zubair's are concerned is, that once the Aminex EGM vote is done then that fulfills Aminex's legal commitment or obligation towards ratifying the F/O deal and then the TPDC/Zubair's have us in their bag. then I can see no reason that will benefit the Tanzanian Gov by not issuing the " License Extension and and allowing the Farm-Out ect ASAP.

"Even IF that were true you forget to mention one very small point and that is that it is ALL contingent on getting a License Extension and a Farm-Out by 31st March otherwise we are all in deep doo-doo"

don't be such a drama queen Crusty, I would say, as far as the Tanzanian Gov/Zubair's are concerned is, that once the Aminex EGM vote is done then that fulfills Aminex's legal commitment or obligation towards ratifying the F/O deal and then the TPDC/Zubair's have us in their bag. has been ratified at the EGM then they have us/Aminex in the bag. then I can see no reason that will benefit the Tanzanian Gov by not issuing the " License Extension and and allowing the Farm-Out ect