Member Info for blackgold00

Drewky "reason why they are playing hard ball where we think that they will be insisting Ch1 being drilled before granting the licence" a couple of things come to mind when mulling over that, is the un-drilled commitment wells of the now expired Mtwara Licence, and the rights of TPDC for a 15% revenue interest for contribute 15% of development cost. so if CH-1 is drilled first and is classed as appraisal/exploration then maybe after the development licence is granted and the TPDC exercise their rights to gain a 15% interest in the development project they might not need to contribute to the cost of the CH-1 well, plus they don't take on the risk of that well. "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."

Drewky, you're up early, yes Ch-1 lower Jurassic target, well of coarse knowing what we know from NT-2 there's a possibility for oil, but i expect gas is uppermost in their minds when deciding that CH-1 would be drilled deeper and we remember JB comments that the Ntorya cretaceous is large but the Jurassic prospects could be even larger. remember what happened in the deeper section of the Licondi well, Tullow nearly lost the rig to the high pressure gas influx, blow-out ? but yes if oil is found it would certainly be a bonus for Tanzania as well as Aminex. all is good i think

yes Crusty not the best of words, what about saying (will not), but the fact that i say (so it seems to me) at the start of the sentence surly indicates i'm expressing my own opinion. will try again with (will not) Chrusty, i know we have our difference of opinion on whether the Farm-Out is or is not contingent on the Development license approval, i feel that this need not be or indeed should not be the big stumbling block that halts this important project that clearly is needed by all involved. Aminex state they "expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalized" it would seem then, that the F/O must be being negotiated with that view in mind, that is with no finalized development licence for sometime to come. plus we also know that the IO EPS is dependent on or it envisages success at NT3. so it also seems to me that the development licence will not be finalized until results of the Chikumbi-1 are known, which to me seem logical, you can't sign contracts for years supply of gas until supply and quantity is known.

They are NOT facts. To state that the Tanzanian Govt CAN NOT approve the Development License without AEX first drilling C1 is just nonsense what i said Crusty, was this,( "so it also seems to me that the development licence can not be finalized until results of the Chikumbi-1 are known") so now you want to misinterpret what i was trying to say. good day Crusty.

"The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised" , possibly until January 2020, "in parenthesis" Crusty, a digression or afterthought ? it seems right to me a comma and then further information of the same subject.

The sentence could have read "The Company expects to receive an extension to the Mtwara Licence during which time the development licence for Ntorya is expected to be finalised." that makes no sense Crusty, " during which time" what time, a day, a month, a year, how ambiguous is that. put it back where it belongs and read it as it is.

well i hope you're right Crusty, i would love to see the Development licence. but i can only read that sentence as it is, to me you are breaking basic rules reading it as you do and it doesn't make sense "The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised."

yes Drewky they are but i suppose the development licence when it is granted the Tanzy authority are assured of such quantity's and potential supply's of gas with the development so they can future plan Tanzania's energy growth.

Chrusty, i know we have our difference of opinion on whether the Farm-Out is or is not contingent on the Development license approval, i feel that this need not be or indeed should not be the big stumbling block that halts this important project that clearly is needed by all involved. Aminex state they "expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalized" it would seem then, that the F/O must be being negotiated with that view in mind, that is with no finalized development licence for sometime to come. plus we also know that the IO EPS is dependent on or it envisages success at NT3. so it also seems to me that the development licence can not be finalized until results of the Chikumbi-1 are known, which to me seem logical, you can't sign contracts for years supply of gas until supply and quantity is known. but saying all that, i'm sure they can come to an understanding in principle, and like i said before the granting of the Mtwara Licence PSA will give them the legal right to pursue development licence.

yes there's still time for things to fall into place, that is IF the F/O negotiations are successful, with Aminex the Zubs and the TPDC in conjunction to future commitments that will be applied to the Mtwara PSA Licence extension, plus commitments for a development licence being granted. So given the later date than usual of the AGM i see that as them giving enough time for these things to conclude. so i am thinking/hoping that we will see first the granting of the Mtwara PSA Licence extension in about 2 weeks, followed by farm-out details about a week or so later, which could well be accompanied or to follow soon after, news of securing the rig to drill Chikumbi-1, as i do note the tendering process for a rig is due to close during the current quarter and not at the end so could come at any time now. 9 April 2018 "The tendering process for a rig to drill Chikumbi-1 is due to close during the current quarter with an expected spud date later in the year "

well as said before, i'm with the board and a'm expecting for the Mtwara PSA Licence to be extended and soon, and once granted (the Mtwara PSA licence) becomes the basic document for negotiations between foreign oil companies, the Government and the TPDC, in other words it is the essential document that allows all concerned to negotiate formulate a Development licence, It is the document that sets out the terms under which exploration and production can take place. prelims " The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised." "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". Model Production Sharing Agreement (MPSA) "Tanzania's Model PSA serves as the basic document for negotiations between foreign oil companies, the Government and TPDC. It sets out the terms under which exploration and production can take place." Http://www.tpdc.co.tz/legalservice.php

well, if all negotiations are successful and carried out in good faith, then i'm going to stick my neck out and say the Mtwara Licence extension will be granted with-in or there about two weeks with the farm-out announcement following about a week later. here's hoping anyway prelims " The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised" Ruvuma Operationl Update 9th April "The Company continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Zubair Corporation, as announced on 21 March 2018. --" The forthcoming well, formerly designated Ntorya-3, has been renamed Chikumbi-1 at the request of the Tanzanian Government. The well is targeting the same reservoir tested in Ntorya-1 and in Ntorya-2 in an updip position and will also be testing a deeper target. The proposed total depth is approximately 3,400 metres. --" The tendering process for a rig to drill Chikumbi-1 is due to close during the current quarter with an expected spud date later in the year, exact timing of which will be dependent on rig availability. --" The National Environment Management Council (NEMC) has approved the Environmental Impact Assessment (EIA) status for the acquisition of further 2D and 3D seismic data over the Ruvuma Production Sharing Agreement acreage, focusing on the Ntorya discovery area.

So there's still plenty of time for things to fall into place, nearly a month ?

i heard a podcast some months ago where a director stated that the Mnazi Bay 5 wells could produce as much as 130 mmcfd but only for a short period of time, no doubt i think he meant producing any longer would jeopardize the wells integrity

yes, Orca at present supplying the Songas old processing plant which has a max of 102mmcfd, so Orca's 50 mmcfd gas supplest will have to go through TPDC new processing plant, but they have not agreed terms yet which seems to be a bit of a sticking point. my brackets page 14 Http://www.orcaexploration.com/pdfs/2017_Orca-Q4_full.pdf "As at December 31, 2017 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) and TPDC resolving some technical issues associated with the design of its facility. 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 and 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."

Leaflessclover, as of Orca's last results, they have not yet agreed with the TPDC to sell Songo Songo gas into TPDC new gas processing plant. Orca is still only supplying gas into the old Songas processing plant which has a max capacity of 102mmcfd i believe.

CP as i understand it tpdc do not pay for for the exploration or appraisal wells just the development wells/pipe-line. Now i might have that wrong, this is only light discussing. About TPDC "Tanzania Petroleum Development Corporation (TPDC) is the National Oil Company of Tanzania through which the Ministry of Energy and Minerals implements its petroleum exploration and development policies" they are all part of the same body

fully aware CP, that TPDC are not the authority thats grants the Development license and not sweating. but the H/Y report states. "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"

I suppose as things stand it seams to make sense for the TPDC to have Aminex drill the C-1 well first which might be classed as a exploration/appraisal well, before the granting of the development licence, after which they can then exercise their rights to participate in 15% the development costs to receive 15% of the production. with-out having to contribute towards the C-1 cost first. 2017 H/Y results ("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") even though they were behind Aminex and supported the development licence application. 2017 H/Y results "A development plan has been submitted and application made to the Ministry of Energy and Minerals for a 25-year development licence for the Ntorya area, which is supported by the TPDC"

i thought i read it somewhere http://admin.aminex-plc.com/uploadfiles/170519_AGM%202017%20Proxy%20Votes.pdf 8 To authorise the Company to convene a general meeting on 14 days� notice