Member Info for blackgold00

well i guess if this deal is as bad as some here make out and the TPDC has lost all confidence in Aminex to act as operater, then expect Majedie to start off-loading their 10% holding. Crusty you said you had sold 90% of your shares and now you say you hold more than Drewky, can you confirm you sold 90% of you holding Agm day. EE must sure be ****ed of with the deal as well, he hold 9 million shares.

this was Likonde drilling results back in 2010

RNS Number : 5838J
Aminex PLC
01 April 2010

LIKONDE-1 EXPLORATION WELL RESULT

Aminex PLC ("Aminex") reports that on 1 April Tullow Oil plc (Tullow) announced
that the Likonde-1 well, onshore Tanzania, had encountered thick sands with
hydrocarbon shows.

Likonde-1 is located in the Lindi Block in the Ruvuma Basin of Southern
Tanzania. The well was drilled to a total depth of 3,647 metres and results of
drilling, wireline logs and side-wall coring have shown that the well has
intersected two sandstone intervals of over 250 metres (820 feet) combined
thickness with evidence of residual oil and gas. Drilling had to be terminated
in the deepest objectives due to high gas influx.

" We drilled deeper and found gas although this was at Likonde not Ntorya."

no Tarry, we are talking the Ntorya gas discovery

27 February 2012

NTORYA-1 DRILLING UPDATE - GAS DISCOVERY

DISCOVERY EXTENDS THE RUVUMA BASIN GAS FAIRWAY ONSHORE

"Further to the Company's update on 15 February 2012, which reported strong gas shows in a good quality Cretaceous reservoir sand at a depth of 2,660 metres, the open hole has now been logged from total depth of 2,750 metres across the zone of interest. Electric logs show a gross sand interval of 25 metres between 2,660 metres and 2,685 metres with a 3 metre net gas bearing pay zone in sandstones with 20% porosity at the top and a 16.5 metre thick lower sandstone interval with further possible gas pay. Proving the presence of reservoired hydrocarbons in Cretaceous sands in Ntorya-1 opens up the potential for additional plays in thick Mesozoic sands encountered by Aminex and partners in the Likonde-1 well just 14 kilometres north of the Ntorya-1 well."

rns 07 February 2012

"The well was spudded on the 22 December 2011 and is now at a depth of 2500 metres. The targeted sandstone intervals were not encountered at the prognosed depths between 1,800 and 1,900 metres. Further drilling found sandstone intervals along with traces of gas below 2,300 metres. Wireline logs and check shot data will now be recorded to determine whether or not to drill further."

"The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north

Ndovu Resources Ltd (Aminex) 56.25% (operator)
Tullow Tanzania B.V. 25%
Solo Oil plc

rns 10 February 2012
"On the 7 February 2012 it was announced that the drilling had been temporarily suspended at a depth of 2,500 metres pending further evaluation. Intermediate logging and check shot data have been evaluated and it has been decided to continue drilling. An additional target has been identified on the seismic data at a depth of approximately 2,750 metres and the well will now be deepened to test that objective."

"Drilling operations have restarted and it is expected that the new target will be reached within a week.

"Tullow Tanzania B.V. has elected not to participate in the well deepening activities which will be undertaken by Ndovu Resources Limited (Aminex) and Solo Oil. Aminex and Solo Oil will be responsible for the cost of deepening the well in proportion of their respective interests."

i wonder where Aminex would be now if they hadn't carried on drilling.

.

"That same TPDC have so far resisted signing off on the Kiliwani remediation work over for well over a year. When do you think that they would signoff on a project to drill Kiliwani South and connect it to the Songo songo GPP with Aminex managing it?"

Crusty are you now saying that TPDC are now and have been deliberately preventing Aminex from progressing their Killwani development licence and the Nyuni PSA. That is extremely serious allegations, as it renders those assets worthless to Aminex and bounty oil as well. i wonder how you know this, and what you see as TPDC legal rights to pursue this coarse of action.

no problem there Oz, the Tanzy Government are dealing with they best chums now, (The Zubair Corporation )

" Establish an Early Production System to achieve accelerated first gas to a minimum gross rate of 40 MMcf/d"

hmm, minimum gross rate of 40 MMcf/d, I wonder what the maximum gross rate might be then, after a successful C-1 well, and the remediation work at the NT-1 and 2 wells. we never never did get to hear just how high the pressure was at NT-2. but i wouldn't mind betting the 3 wells combined potential is way more than the 40 MMcf/d minimum rate. And that just three wells, whats the full field development going to produce ?

"EPS envisages success at NT3 and some remediation work at NT1 and NT2"

" Longer term FFD proposed to be self funded from cashflow generated by production"

"You are deliberately hiding the original content of the thread by posting a new RE: thread every time."

Drewky, all i'm trying to do is to introduce new info into the debate to expand our understanding of our situation, but for what ever reasons, maybe mistrust or your perception of my motivations lead you to dismiss my comments out of hand, to the extent, i feel, you would prefer i didn't post at all. Dewky can i tell you that i have been reading posts and posting re Aminex since 2004 and i hope and feel i have built a reputation of being honest and straight.

"don't be a silly boy, run along!" Drewky, you are letting yourself down now.

what, i created confusion by adding a bit of factual info! Drewky you are a funny one : )

"and Gas lady further supported that with the links to the announcement made by Aminex that pre drilling CH1 has no bearing on whether a licence will be delivered or not." <br /><br />there you go again, that is unclear and not helpful to anybody new reading this, the quote from GL was( aex's tweet of Mar 1st "Ntorya 3 is not dependent on a 25 year development licence") that is the development licence and not the Mtwara PSA extension licence which will need to be granted.

and Drewky all i was trying to do was to add a bit of info into the discussion, thats all.

"Blackgold you have created an argument that did not exist. Gas lady is exactly right in that the company have made a statement on this "Accept it! The original conversation was about NT Development and it had nothing to do with KW until you tried to link it together."

Drewky, are you just trying to muddle things? there is no argument, what we are dealing with here is two separate licences, 1 the development licence which the NT-3 well is not dependent on, and 2 the Mtwara PSA licence which the NT-3 well is, why is that so difficult to grasp. but whether as CP suggests we get the development licence before the NT-3 well i wouldn't be so sure, but one thing i am sure of, is we do need that Mtwara PSA negotiated and extended before any further drilling can take place in Ruvuma.

yes gaslady, "Ntorya 3 is not dependent on a 25 year development licence" but we do need the Mtwara PSA extension before we can drill Ntorya-3. we can not operate in the area without it. it seems to me, every thing depends on it.

Drewky, before the development licence can be granted we need to drill C-1, before C-1 can be drilled we need the Mtwara PSA extended, the negotiations between TPDC/AEX to extend the Mtwara PSA must take into account the obligation by AEX to drill 4 wells and the security that TPDC has over KN-1 if not. it might be the case that now Aminex has conceded the Lindi PSA we might get the whole area of the Mtwara PSA extended, but it will be interesting to see what exploration drilling commitments will come with it, which i'm sure there will be.

"TBH I'm not even sure of the point you are making with regards to KW etc!"<br /><br />Drewky, the last Ruvuma extention, Aminex was obligated to drill 4 exploration wells over the two years and Aminex granted TPDC certain securities over the Kiliwani North Development Licence in assurance for the extension and drilling the 4 wells, which they have not fulfilled. and as i understand it, as Aminex/TPDC negotiate a further extension to the Mtwara PSA licence, the obligations to drill the 4 wells still stand and will be part of the negotiations. The commitments of the Ntorya appraisal area have been met, and the development licence should be granted and its area should fall with in the appraisal area. but when the Mtwara PSA extention is granted, i will be interested to see what the work commitments will be and indeed what the extended Mtwara area will be, ie whether we have had to concede any. <br /><br />03 February 2014 <br /><br />http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AEX&ArticleCode=kr92lfws&ArticleHeadline=FORMAL_ADDENDUM_TO_RUVUMA_PSA<br /><br />FORMAL ADDENDUM TO RUVUMA PRODUCTION SHARING AGREEMENT <br /><br />"Aminex PLC ("Aminex" or the "Company") is pleased to announce that a formal Addendum to the Ruvuma Production Sharing Agreement has been signed with the Tanzanian Minister of Energy and Mines.   <br /><br /> <br /><br />The Addendum allows for the remaining obligations under the First Extension Period to be completed in the Second Extension Period, as previously announced by the company on 30 May 2013.   The amended agreement requires four wells to be drilled by the end of 2016. In conjunction with the amended obligations to the Ruvuma PSA, the Company has granted TPDC (Tanzanian Petroleum Development Corporation) and the Government certain securities over Kiliwani North Development Licence on a sliding scale basis. As each of the wells is drilled the security reduces and when all four wells are drilled the Government and TPDC will no longer have any further security over the Kiliwani North Development Licence.  "

" but it's a clause in the PSA that they will get a licence when all criteria are fulfilledRuvuma Update and Loan Extensions"

as i see it, all criteria or (drilling obligations) have been met regards the (appraisal area), but the obligations of the Mtwara PSA Licence has not been met at lest not yet, which was to drill 4 exploration wells. the other consideration which from TPDC perception and no doubt forms part of the negotiations for a further Mtwara Licence extension is on a previous Ruvuma PSA extension, TPDC held certain guarantees with Aminex over KN-1, so that, if Aminex didn't drill the wells they would have to concede a certain % of KN-1 to TPDC, which i believe was about 25% for the 4 exploration wells not being drilled. but it now seems 25% of KN-1 is worth diddly squat, so no doubt TPDC will be looking for some new guarantee over a Mtwara Licence extension.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AEX&ArticleCode=9aw0bp4e&ArticleHeadline=Ruvuma_Update_and_Loan_Extensions

27 June 2016
Aminex PLC, an independent oil and gas production and development company premium-listed on the London Stock Exchange and primary-listed on the Irish Stock Exchange with operations in Tanzania, is pleased to announce that it has completed discussions with the Tanzanian Petroleum Development Corporation ('TPDC') in relation to extending the licence term for the Mtwara Licence of the Ruvuma Production Sharing Agreement ('Ruvuma PSA') which was due to expire late December 2016. A one-year extension has been approved by the TPDC, which is processing the extension for Ministerial approval and signature.

Furthermore, the Company has completed discussions with the TPDC with regards to transferring the drilling obligations in the northern Lindi Licence covered by the Ruvuma PSA into the southern Mtwara Licence, which includes the appraisal area for the Ntorya discovery. With the support of the TPDC, the transfer of the Lindi drilling obligations to the Mtwara licence area is also being processed for Ministerial approval and signing. Thereafter, the Company intends to drill the Ntorya-2 well to satisfy the appraisal drilling obligation and then to apply for a 25-year development licence subject to its success.

sounds like you want it both ways Crusty.

"Drewky? Much of it was justifiable in my view;"
" it was making statements and accusations"
"And yes, some of it was both incorrect and libelous"

"Ministerial approval was obtained for an extension to Mtwara to December 2017 and the operator has also applied for a further two-year extension which is expected to be approved in 2018. In order to focus the Joint Ventures resources on the development of the Ntorya gas field and its surrounding area it has now been agreed that the Lindi Licence will be relinquished and will become the subject of a future application for a new PSA by TPDC with the option of Aminex and Solo participation once terms have been agreed. There are no penalties for the relinquishment of Lindi and the Company believes that this decision to focus on Ntorya represents the most effective means to deploy resources, as it limits further exploration spending in favour of the appraisal and development of proven resources."

one other thing re; extending the development area into the Lindi licence, no doubt the results of the C-1 well and it's testing of the deeper Jurassic target could go a long way to establish a Jurassic play which gas was first discovered by the Likonde-1 well, and will help to determine the extent of the play. Ruvuma OPERATIONAL UPDATE 11 September 2014 http://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Ruvuma-Operational-Update/63550369 "The Likonde-1 well penetrated 97 metres of net sand with an average porosity of 17% within a 316 metre gross Lower Tertiary sand sequence with hydrocarbon shows and a deeper Jurassic zone, containing 250 metres of stacked sandstones with extensive oil and gas shows. The deeper sandstones were not logged at the time, as the well was prematurely terminated in the deepest objective at 3,647 metres due to the influx of high pressure gas."

"Kimosabi The TPDC have indeed supported the development licence application and it was they who suggested applying for brand new licences rather than renewing old ones" Drewky its only the Lindi licence that will be an entirely new PSA, they are expecting that the Mtwara Licence PSA to be extended. i think it interesting though when they say ("which would enable further development and exploration to be carried out in conjunction with the Mtwara Licence area" ) so it looks to me, they are expecting to extend the development area into the Lindi licence when it is granted. "The Ruvuma PSA originally comprised two licence areas: the Mtwara Licence and the Lindi Licence. During 2016, Aminex received formal ministerial approval for a one-year extension to the Mtwara Licence, to January 2018 and expects to be granted a further extension to the Mtwara Licence. Although the Lindi Licence technically expired on 28 January 2017, negotiations are in progress. The Board had expected an extension to the Lindi Licence to be granted but subsequent discussions with the TPDC indicate the likelihood of being able to formalise an entirely new PSA in conjunction with the TPDC, which would enable further development and exploration to be carried out in conjunction with the Mtwara Licence area."