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"tournesol

"No! Its title is Ruvuma Farm-out. There are 18 slides.

"Here's more:

1. As I suspected (a few posts ago) there will be movement in headcount for AEX, some of their people will be moving to ARA. There will also be changes at head office.""

3. They have received tenders for the rig. I asked how long they would have it for and apparently ARA have operations nearby and they can let the rig go and get it back without problems."

4. They have ordered some long-lead items, I get the impression that the EGM won't hold things up."

5. I asked about the $ figures being quoted and whether there are taxes/royalties to be taken off. JB said something about negotiations with Tanz.gov and they won't go over that ground again. Perhaps someone else can fill me in."

6. The pipeline they are building will take them to FFD."

7. Slide 5 of this presentation is titled product forecasts, full field development (P50). It shows production of 40 mmscf/d starting in Jan 2020. But the scale is not clear as to when it risses to 100 and then 140. Looks like a couple of years."

i think it all happened last minuet

yes thanks Sambo.

"from over the over side"? strange language, i meant to say, from over the other side : )

from over the over side.

"They've handed out a presentation that I can't see on an RNS or a website. Anyway it adds a bit of flesh".

1. $12m p.a. of fully carried cashflow from the eps
2. Ruvuma capex to be paid from this
3. full field development looks like being ramped up to 100mmscf/d from 2022? and to 150 mmscf/d by 2024? (scale "is hard to decipher) Field lasts until 2049.

"They're about to start."

"Manic in not being at the AGM you will have missed the fact that Jay expressed what a massively un-envisaged kick in the teeth Kiliwani turned out to be. They certainly didn't expect it to have such a devastating effect and I felt he was being very genuine about that!"

Drewky, yes absolutely, and in my mind was/is pivotal to where we are today. i believe under those circumstances the deal the BOD was able to achieved must be seen as fair, in fact we could had been really screwed over, so i guess the parties involved in the negotiations must have had some honorable quality's about them.

well, if it is as grim as some here suggests, which is that TPDC has lost all confidence in Aminex to operate their remaining licences, KN development licence and the Nyuni PSA, then yes reduce those that the new situation would have made redundant. but we do not know that to be the case and is pure conjecture on the part of those that suggests it, but i would go further and say the opposite, and that the relationship between TPDC and Aminex is fine and given Aminex's size and financial constraints over the years, i believe have achieved something quite extraordinary for Tanzania in bringing Ntorya's large potentual to this stage, now to be developed.

Jay Bhattacherjee, CEO of Aminex said:
"With the Ntorya project carried to a minimum level of production it is now expected that the Company will be self-funded for further development. Aminex continues to develop its Kiliwani and Nyuni assets and is undertaking a review of other opportunities which will deliver robust shareholder returns."

good luck with that Tarry, but count me OUT.

does Likondi come into it? and i guess it would be handled by operator and spread pro rata.

what future value might be put on it? in the cretaceous targets 8 wells that can produce at aprox 40MMcf/d each = 320MMcf/d, hmm, 80 MMcf/d to Aminex, how big a potential turnover would that create.

" plus others have posted an annual income of $7Mill when the field is producing to the agreed level"

thats the minimum DAJS 40 MMcf/d, to kick off the EPS, and could be produced from just one well. Just think what an 8 well full field development could produce. and that is with out what might yet be discovered in the deeper Jurassic targets. there is alot to be absorbed from this deal yet.

dunder, with all the negativity at the moment anything positive can only help what ever we think personally, i really don't know what he has to say re; Aminex and his bucket. but as long as we don't kick it.

*Bucket list alert*
This week I have written the interim Bucket list which due to so much company news this week I intend to publish over the weekend so watch out for a blog then

more share buying from the BOD today, 459,623 and 465,346 ?

Crusty, have you bought back those shares? just asking : )

(they wouldn't need C1 to "come in"....)

what are you saying Crusty, is that the minimum 40 MMcf/d is them are taking into account the possibility of C-1 not finding gas. thats interesting, so the question is then, IF C/1 is successful what would be the expected production rate then?

I don't know why the minimum rate is set so low, typically at Songo Songo wells produce at 30-40 MMcf/d and we believe pressures at Ntorya are greater, so in my opinion (IF) the work program is the same as in the Feb presentation, (EPS envisages success at NT3 and some remediation work at NT1 and NT2) then i envisage a flow-rate far exceeding 40 MMcf/d.

The other thing, they are allowing previsions of $105 million and thats for the 75% so for a 100% would be $140 million. that seems one hell of a lot, to carry out the work needed, as per Feb report.

"EPS envisages success at NT3 and some remediation work at NT1 and NT2 with pipeline to Madimba gas plant"

maybe a side-track well at NT-1?

".it may even have been a condition in the TZ paperwork"

yes,i don't doubt that gaslady, i think Aminex came up against some harsh reality's, Ntorya is just to big and important to Tanzania, for the TPDC to have left operatorship with Aminex. i'm really not that surprised.

Crusty you said you had sold 90% of your share holding Agm day. can you confirm that please.

the reason i'm persevering here Crusty is that, we all know that we are motivated by self interest, and it seems to me that if you sold 90% at a higher price AGM day, then a price drop would be to your advantage. so your reasoning and posts could be heavily biased in favor to spread negativity to encourage further SP weakness.

Crusty you said you had sold 90% of your share holding Agm day. can you confirm that please.