Member Info for blackgold00

well i'v certainly got no more to add to this topic at this stage

thanks Manic, back to earth

"Are you just trying to be awkward BG or am I not being clear enough?" NO, not trying to be awkward at all. I just read your question again and will try and answer again, possibly the deeper Jurassic target would be classed as exploration be it oil or gas. the creations known Ntorya targets would be in my mind appraisal/development. Drewky where have they stated they are targeting oil in the Deeper target, I know there is a possibility but have they stated oil

"I accept there is an element of exploration in the oil target but for the sake of arguement can answers be given on the basis that we are drilling only for gas" i would say, you can't be sure of the target until you've drilled it. at work at mo

I would say be it oil or gas, drilling the as yet unknown Jurassic could be classed as exploration.

possibly the deeper Jurassic would be classed as exploration

way down low

With the Zubairs already owning just under 30% of Aminex, so that's 30% of the 75% share own by Aminex, so that's 22.5% share of Ruvuma to the Zubs. I think

yep that will do for today Drewky, and yes Max, go gently

yes all fair points Drewky, but this seems to be the way Aminex/BH has done their business over the years, blvn proposed deal, out of the blue, the initial Zubs deal, out of the blue, now the zubs farm-out, out of the blue. So without keeping the PI's in the link these deals came about. so to me they are the experts and me just the investor with limited knowledge that's wants to make money, so the sentiment and sp has moved up and down over time, but over the time i have come to trust them and their assets to deliver. i hope and pray : )

yes, but obviously it all depends on what one believes the motive was behind the tweet text. If you trust them you might see it as them wanting to send a message to reassure but if you have a lot of doubt in them, then you might see it as one to mislead, that things are better than they are in reality.

yes absolutely Crusty, filtering the message through Malcy Jay was probably able to express more than he could of than officially via rns. "Nature of deal is complex but good�

quite right cperkin, if you got trust in the board then what else do you want, they cant say anything until ready, and as Malcy said "Seems that there is no change of plan and that current deal is still in advanced stage but as always you can never be sure so nothing company can say right now"

"Well, the resulting ownership structure alone makes it a bit complex" yes vike, and it would help if they actually held a valid title deed for the Ruvuma PSA, : )

good old Malcolm, he knew that tweet was needed, "Nature of deal is complex but good" well i'm not surprised by it being complex, and i still believe in the board to bring about a good deal.

Advised by whom may i ask Pete

interesting Pete, i suppose the question is can an exploration/appraisal wells, as in NT-1 and NT-2 when they become part of the development, will they then be classed as development wells and warrant the TPDC the back cost of those if they chose to exercise their rights.

Drewky "Btw as I understand it if they take 15% then they have to contribute to get it" yes, but as i understand it, to the future development costs, not the past exploration/appraisal costs. "Under the terms of the Ruvuma PSA, after the grant of a development plan, the TPDC may elect to contribute 15% of development costs in order to obtain a participating interest of 15% in production and revenues.

not a new one for the Mtwara licence Drewky, they are hoping for an extension on that one but yes a new one for the Lindi "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. "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"

"Likonde-1 was drilled to an extended total depth of 3,647 metres, encountering over 250 metres of potential reservoir sands with evidence of crude oil from sidewall cores. Strong readings of natural gas were recorded through virtually the entire well bore and drilling had to be halted after a high influx of gas and high temperatures were encountered. The well is providing a wealth of data on this under-explored basin and strong encouragement for future drilling. However, Likonde-1 itself was not a commercial discovery and has now been plugged and abandoned."