Member Info for blackgold00

back to sleep, lol, I've only just got back home from working my night shift. off to bed in a minute though. plus I've had a drop of amber nectar, so night night for now

hmmm, so what's left to talk about ?

I wouldn't base to much credence on a conversation with NR, but what I do know is,

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

"AEX committed to drilling Ntorya 3 in 2H18 subject to finding a suitable rig"

"The Company is committed to drilling CH-1 as part of the greater Ntorya Development area and is working with the Tanzanian Government and all JV partners to drill as soon as possible. The Company received numerous bids for its drilling tender and has shortlisted two companies with which it is negotiating."

"Extension over Mtwara licence area is supported by TPDC and PURA pending approval by ministry"

"The transaction is also subject to the grant of an extension to the Mtwara Licence, currently awaiting approval"

so as far as i can see, all is waiting on the Mtwara Licence extension, to start the ball rolling.

half year
"In the case of the Ruvuma PSA, Aminex has applied for an extension to the Mtwara Licence and is seeking a new production sharing agreement for the Lindi Licence. The terms of a new PSA for the Lindi Licence may be on less favourable terms than the existing PSA. Aminex has applied for a development licence for the Ntorya Prospect under the terms of the Ruvuma PSA. The grant of new licences or extensions to new licences are at the discretion of Tanzanian authorities. The TPDC holds security over up to 15% of profit share for the Kiliwani North Development Licence in the event that part or all of the work commitments under the terms of the Ruvuma PSA relating to either the Mtwara or Lindi Licences are not fulfilled."

"Mitigation - Aminex is committed to fulfilling its obligations and seeks extensions to licence periods and deferrals of or amendments to production sharing terms through negotiation with the TPDC in order to ensure that commitments are met even if not in the original timeframe expected. The Board believes that there is a reasonable expectation that Aminex will be able to obtain a licence extension to the Mtwara Licence, and obtain a new production sharing agreement for the Lindi Licence, based on discussions with the Tanzanian authorities. The Board also believes that Aminex will be granted a development licence for Ntorya, for which application was made in September 2017. Aminex intends to meet its commitments, with each exploration well drilled on the Ruvuma PSA reducing the TPDC's security over the Kiliwani North Development Licence"

there are/was/still obligations to drill three outstanding exploration wells on the Mtwara PSA licence, that the TPDC holds 15% of the KN development licence as security over, and no doubt that security the TPDC holds over KN development licence is/has been renegotiated.

"latest date for the circular to be announced in order to meet the aforementioned timescale for the EGM"

well, I think one thing is for sure now, if the circular DOES arrives on time and triggers EGM, then the chances of the farm-out deal being voted down by private investors must be next to zero. a bit like no-deal Brexit : )

cancelled or deleted? how does it work anyway, have you got so much time to act ?

yes I guess, but i'm sure the next dry season is not so long and like you say, going on past experience, it would seem they prefer to spud the wells at the start of the dry season at the end of Dec. still, time will tell, and not to much at that : )

3,425,143 says its a sell but sp has gone up ?

yes, and also "the Likonde-1 well was spudded at 7.30 hrs on 9 January 2010."

Aminex to Withdraw from Tanzania PSA

https://www.rigzone.com/news/oil_gas/a/110867/aminex_to_withdraw_from_tanzania_psa/

I believe we gave it up sometime ago. ?

"3D Seismic acquisition in West Songosongo and Mnazi Bay North Blocks"

I think you will find that Orca doesn't hold the (West Songosongo block), but is held by the TPDC.

SLIDE 5
orca presentation
http://www.orcaexploration.com/pdfs/2018_OEG_Presentation_April.pdf

http://tpdc.co.tz/activitymap.php

ORCA has a complicated PSA, they don't own the SS gas field as such, the don't own the gas well's either, they belong to Songas, Orca has the rights over certain gas produced over and above the Protected Gas. I have a feeling Songas doesn't want the SS gas field to supply the new TPDC gas plant encase it undermined the long-term supply of its own SS gas-plant.

ORCA NATURE OF OPERATIONS
"The Company’s principal operating asset is its interest in the Production Sharing Agreement (“PSA”) with the
Tanzanian Petroleum Development Corporation (“TPDC”) and the Government of Tanzania (“GoT”) in the
United Republic of Tanzania. This PSA covers the production and marketing of certain gas from the Songo
Songo Block offshore Tanzania.

"The PSA defines the gas produced from the Songo Songo field as “Protected Gas” and “Additional Gas”. The
Protected Gas is owned by TPDC and is sold under a 20-year gas agreement (until July 31, 2024) to Songas
Limited (“Songas”). Songas is the owner of the infrastructure that enables the gas to be treated and delivered
to Dar es Salaam, which includes a gas processing plant on Songo Songo Island.

"Songas utilizes the Protected Gas as feedstock for its gas turbine electricity generators at Ubungo and for
onward sale to customers. The Company receives no revenue for the Protected Gas delivered to Songas
and operates the original wells and gas processing plant on a ‘no gain no loss’ basis. Under the PSA, the
Company has the right to produce and market all gas in the Songo Songo Block in excess of the Protected
Gas requirements (“Additional Gas”) until the PSA expires in October 2026.

yes lol, Aminex not supplying, YET

translate
"The people are getting information from the TPDC band at the Coast Region Industrial Shows. TPDC is a major contributor to facilitating industrial economics by providing a source of energy source (natural gas). Vice President's Statement opens the exhibition"

"yes BG I appreciate ARA will be running the show so I said I hope they don't use the same drilling contractor."

ah, ok you're joking, i thought you were being serious. yes as if they would use the same contractor, and use the same, what was it, the Caral 6 rig.

"FFD is expected 2025 so while it's great that eventually we'll be generating $35m/year *IF* all goes to plan we should perhaps take any timescales from back-to-back Aminex with a pinch of salt."

lol Tarry, for a start the Zubair's will be the operator and in control of drilling and secondly I expect that the forward demand curve will be dictating the pace of development.

its not about being optimistic, its about whether you think the Circular with the updated CPR arrives in the next couple of week to announces EGM for end of Nov followed by end of year CH-1 spud. would 5p be optimistic then ?

yes cperkin, once news lands re; circular, licence extension, then the penny will drop and sentiment will change in a flash, as will the share price