Member Info for blackgold00

"So I am expecting a rise in sp - NOT the HUGE rise that you were predicting and NOT starting within (5) weeks but over the next 18 months (assuming delivery of successful C1 outcome)"

Crusty you are a star

"Bhattacherjee has had plenty of opportunities to demonstrate his integrity the most recent of which was to refuse or postpone his self awarded pay rise"
Tarry, JB must be pretty confident of the F/O being completed then.

well, as each day passes without news, so with every new day must the chance increase for that news

" They haven't even given their word to aminex by the sounds of it"

and what would that be worth, if JB was to say, TPDC has given me their word, lol i think, anyway maybe they have but there's no way JB could say publicly could he.

Tarry "If we had drilled back-to-back as intended"

that was never the case, it all depended on the results of the NT-2 well.

I can see the end of my rod keeps twitching, but it's knowing just when to strike : )

"it's basically bargain basement and for selling our soul and pi's down the river"

will let time be the judge of that

"Yes of course bg, there was a massive queue out of the door for o&g companies looking to farm in to these assets."

it all changed after NT-2

"Why do we need to wait for the licence extension again? After all it's not like we're commanding market rates for the 50% of 1.87TCF. We're only getting $5m and $35m carry and zero premium for having the licence in place."

The F/O deal was struck earlier in the year, but for what ever the reasons, will not be sealed until end of Nov. So just surmising, if the Mtwara PSA licence extension had already been granted it would have Aminex still holding their 75% interest and being a legally binding document over Ntorya and Aminex being a public company, could leave the important Ntorya assets venerable and in jeopardy of being taken out by a large unwelcomed outsider.

so maybe from TPDC and Zubair's perspective it suits them, that is until all is signed and sealed, to have Aminex/Ntorya assets in a state of untouchable limbo. they are all working in concert protecting their interests

give it a couple months Tarry and we might, stranger things have happened : )

"Well we didn't have to wait too long to be back down at 1.50"

hmm, well someone just paid 1.6 for 500,000

" the extension over the Mtwara licence is supported by the TPDC and PURA pending approval by ministry"

we know who the TPDC are, but what are the roles for PURA?

http://pura.go.tz/content/roles-and-functions

The major roles and functions of the Authority include:

Advising the Minister responsible for Petroleum affairs on-
promotion and bidding process for the award of Production Sharing Agreements or other contractual arrangement;

negotiation of production sharing agreements and other contractual arrangements; and

granting, renewing, suspending and cancelling of petroleum exploration license, development license and production permit;

i don't think it will be much longer now before news is released

Crusty, "Why did our BoD tell us that the EGM would be in September? Because they did not realise that the EGM needed to be contingent on the Extension? Or that they just told us that knowing that it was highly unlikely or indeed impossible to ever happen? That they thought the extension would be approved in September?"

been thinking on that Crusty, and maybe a valid explanation is, that the first we heard of the CH-1 well testing the Jurassic was Aug 23rd and the updated CPR that will accompany the F/O circular was in the H/Y results Sept 28th. So my thinking is the decision to test the Jurassic was the consequents of the Mtwara extension negotiations , which then occasioned the updated CPR, which would take time, hence the need to move the completion date to the end of Nov.

23 August 2018
https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Operational-Update/78123836
"The tendering process for a rig to drill Chikumbi-1 (CH-1) is now complete and the Company has received numerous bids. These bids are being evaluated on their technical and commercial merits. CH-1 is located updip from both the Ntorya-1 discovery well, which tested at rates of up to 20 MMcf/d with 139 bbls of condensate, and from the Ntorya-2 well which tested at a stabilised rate of approximately 17 MMcf/d. The well is expected to delineate the Ntorya gas field in a significantly thicker section of the Cretaceous reservoir system and (is also being planned to evaluate a potential deeper exploration target in the Jurassic formation)"

H/Y results
"A circular, incorporating an updated Competent Persons Report, will be made available prior to an extraordinary general meeting to approve the transaction"

"Since 2010, Tanzania has witnessed further exploration and discoveries of significant quantities of natural gas both on and off-shore"

since 2010, onshore ? well that can only be Ntorya, I think.

thanks StoneFold.

(About Oil & Gas Tanzania 2018)

"It is truly remarkable how East Africa, and specifically Tanzania has in a short period of time become the main focus of attention as a source of new global gas supply. Large amounts of foreign investments have been made in the Tanzanian Oil and Gas industry after its discovery. These investments have made East Africa the next lucrative market in the international scenario.
Since 2010, Tanzania has witnessed further exploration and discoveries of significant quantities of natural gas both on and off-shore"

" BUT that doesn't mean it will happen."

yes I can't disagree with that, but as speculating investors we try to establish the most probable outcome

"were here for the Kiliwani GSA."

yes, dragged on and on, but I don't think the urgency for KN-1 gas/GSA was so great at that time as M&P/Wentworth had up to 120mmcf/d ready to feed into the main pipeline as the demand was growing. But now regarding Ntorya gas, if the Tanzanian authority want the gas supply to be able to keep up with the projected gas demand growth curve, then they better get on with CH-1 to further appraise Notrya and implement the EPS.

"And for any of the reasons above the November date is no more assured than the September one proved top be"

given that all involved recognize the importance to get the CH-1 well spud by the end of this year, there must be an impetus for all involved to see that the F/O is concluded by end of Nov.

"pre - Ready, steady?"

I like that, yes agree and I think potentially we could get a stonker of an RNS or multiples in a very short space of time.

"and November 30th 2017 was a month away from the start of the 2017 dry season. Not sure what your point is though."

not a date picked out of thin air, but a period of time from the F-O announcement in July to allow for the F/O to complete, which we were informed, hopefully by end of Nov, obviously so the CH-1 well can then spud by the start of the dry season, end of Dec. and i'm sure all involved, the Tanzania's Gov etc are fully aware of the wather constraints and the importants of the CH-1 well.