Member Info for blackgold00

" and putting in a second pipeline"

i believe Crusty the pipe-line will be big enough to take the development to full production.

http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

slide 4
"Based on results of CH-1 and 3D seismic, construct pipeline to allow for maximum gas delivery"

i don't think they will be drilling NT-4/5/6/7/8 until they know the production level of CH-1 and NT-1/2 and not before the demand is there to buy the gas.

as i understand it, they are drilling CH-1, doing the 3D seismic and EPS, total gross spend $60m our share $15m, now the thing is as JB said in his interview, if CH-1 is a boomer of a well, and the EPS can produce far in excess of the 40 mmcf/d, then our out well will compensate us through their profit gas, and will make sure we get our $35m there. check it out 10 min in

http://www.lse.co.uk/media/exclusive-aminex-ceo-says-institutions-are-delighted-with-zubair-farm-out-terms.html

OG, carrying out 3D seismic then analyzing and bring NT-3/4 and 5/6 to be drill-ready status, will take time, possibly a year or more? plus if all the wells are drilled so soon, well the demand be there for all that gas.

Chrusty Pete, where did you here they were repositioning CH-1 well pad?

you don't know the Terry, if they are moving it.

yes, I see it as a bit like a litmus test, to the project.

"now the project is de-risked through the Zubairs investment and pledge to production"

yes, it will be interesting to see whether banks etc. will be willing to get involved and forthcoming with funds. yes Solo can now show a project with a clear route to monetisation.

" it seems NR is not aware of any move "

interesting, I think that's a question for Crusty Pete.

last night to do.

Aminex, Shares in Issue 3,643.46m and a MC £78.33m, with a $35m carry to full production.

solo, Shares in Issue 471.95m and a MC £10.85m, with no funding in place yet.

so just as a thought, if Solo could get a placing underway at it's current SP to raise $35m, they would need to increase their shares in issue by 1179.87m giving a total of 1651.82m and a market cap of ? and then being funded to full production. is that right ?

not according to Crusty pete

"Oh an GL the C1 location has moved slightly and the drill pad will now have to be rebuilt."

"I was still under the impression that C-1 was in the same spot?"

not according to Crusty pete

just think cperkin, if they had just gone ahead and drilled NT-3 with-out considering NT-2 results, then they could have screwed up big time, as we now know the well has been repositioned after re-working the seismic for Ntora

cperkin, i'v just got home from work, so not up early but just very late for bed.

dunder, wtgr ?

they made it clear, NT-3 was dependent on the NT-2 results, and the results of NT-2 were excellent, so much so they felt no need to spend further resource on NT-3 at that time but to commission a CPR on the gas now discovered IE; (Pmean GIIP of 1.87 TCF) and apply for the Development licence. NT-2 had proven up enough gas for them to apply for the Development licence and as we now know attract a Farm-in partner.

"It was indeed a tangible pivot point for investors and we all expected a back to back drill"

they made it clear, NT-3 was going to be dependent on the NT-2 results

05 December 2016 RNS
"Additionally, the Company has now completed all necessary civil works for the subsequent Ntorya-3 wellsite. Ntorya-3, which will be located approximately 5 kilometers from the Ntorya-1 discovery well, is expected to be drilled following Ntorya-2 but the programme may vary depending on the results at Ntorya-2"

bit of info re; Orca

SONGO SONGO DELIVERABILITY
"As at March 31, 2018 the Company had a well capacity of approximately 155 MMcfd, with the ability to expand
to 180 MMcfd with the tie-in of well SS-12 and the installation of refrigeration. The SS-12 well was successfully
completed in the first quarter of 2016 but is currently suspended awaiting tie-in. Production volumes are
currently limited to 102 MMcfd as the Company is only producing through the Songas infrastructure. The
Company’s productive capacity will increase significantly once the refrigeration is installed at the Songas gas
plant scheduled for completion in Q4 2018. Well SS-3 is currently suspended and well SS-4 has been shut-in;
it is the Company’s intention to undertake workovers on both the wells in the future subject to negotiations
with Songas, the owner of the wells".
"As at March 31, 2018 the SS-11 well is tied into both the Songas and the NNGIP infrastructure, however, gas
sales through the NNGIP are subject to finalizing a new gas sales agreement (“GSA”) with TPDC. The facilities
for the connection of the SS-10 well and the SS-12 well to the NNGIP infrastructure are available and can be
completed quickly when required. It is currently anticipated that the SS-12 well will be the first well dedicated
to the NNGIP infrastructure and SS-10 and SS-11 will be used as and when further volumes to the NNGIP are
contracted."

also, re; TPDC new Songo Songo processing plant, it would seem that for what ever reason, Orca/Songas can not or will not agree terms to supply gas from the Songo Songo gas field to TPDC new gas plant. maybe Songas don't want to jeopardize the long term supply to its own gas plant on the SS island.

as Ntorya is all sewn up, i'm guessing the next bit of activity from Aminex will be THE 3D seismic over the Kiliwani North and Kiliwani South structures to prove up drillable prospects and which will be in their price range/budget.

The other thing to bear in mind is that the TPDC new Songo Songo processing plant which cost many millions and has a capacity of 140 mmcf/d is now lying idle and will be the only plat with spare capacity. So i can't imagine TPDC is anything but in favor of Aminex in sourcing new gas.

prelims
"Aminex is planning to acquire 3D seismic over several areas on the shelf close to Songo Songo Island and these will include 3D seismic over the Kiliwani North and Kiliwani South structures. Kiliwani South is estimated by management to contain 57 BCF gross Pmean GIIP. As a result of the additional work required, the carrying cost of Kiliwani South has been reclassified to exploration and evaluation assets"

don't forget, majedie just loved the farm-out deal, and that's from the horses mouth : )