Member Info for blackgold00

i was wondering, how much notice would need to be given prier the AGM, I was thinking it could be as little as two weeks? so it still them up to June 27th to complete F/O negotiations and then make public ready for AGM. also rig tendering process closes end of this month. Still hoping for things to all line up 9th Apral 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, exact timing of which will be dependent on rig availability"

can't agree more, unrestrained greed

Crusty, not sure of my way around here, are you talking about my home email, if you are then i'v just updated my LSE email address, so send again

Crusty, i thought we were having a good debate, that's all

Crusty, i don't think the "Farm-Out" is dependent on the Development License, but is dependent on the extension of the Mtwara Licence PSA. from which, in all reasonableness the Development Licence will be granted. http://tpdc.co.tz/legalservice.php 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. Although the terms - which are internationally competitive -mirror closely those incorporated in earlier PSA's concluded in Tanzania, the Government's flexible approach allows for the negotiation of the important issues (such as Area, Work Program and Economic terms etc.) within the framework of production sharing arrangements. The Government's objective is to negotiate terms with the oil industry which are fair and balanced, bearing in mind the usual risks associated with exploration and the State's legitimate desire for revenues as owner of a depleting, non-renewable, natural resource.The Government seeks to encourage the development of small and marginal discoveries; obtain a higher share of profits from the more attractive fields, and satisfy national objectives such as the transfer of petroleum skills and the acquisition of more data. The following is a brief summary of some of the key terms in Tanzania's Model PSA;-

yes Drewky, Ntorya 3 is not dependent on a 25 year development licence, but i think maybe, the 25 year development licence is dependent on Ntorya 3 or its outcome

Crusty, "Moreover those license extensions have yet to be negotiated and quite how they will be cut and which of these the Zubaiirs will be farming in to has yet to be determined" it would seem to me that Aminex/Zubaiirs are preparing the farm-out initially on receiving confirmation of the extension to the Mtwara Licence PSA in-which all the appraisal licence lies and will allow them to drill the C-1 well. the development licence well then follow alongside them pursuing the application for an entirely new production sharing agreement over the Lind area. "Aminex has been reviewing different funding options and is currently working on a farm-out of part of the Group's interest in the Ruvuma PSA to an affiliate of the Zubair Corporation, as previously announced. 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. Aminex is also pursuing the TPDC's recommendation to apply for an entirely new production sharing agreement over the Lindi area where the current licence expired in January 2017 and for which the Company has been negotiating an extension or renewal terms"

the farm-out events to unfold something similar and to the time-scale as those when the Zubs first bought into Aminex via the placing. which was first confirmation on 27 June 2016 the Mtwara Licence extension then 08 July 2016 announcement of Placing and Open Offer, which was followed by the EGM on the 2 August 2016. so i think we still have plenty of time for events to fall into line and for the farm-out to be concluded at the AGM.

keep up the hard work dunder, well for me its a beautiful day and i'm off to a beautiful place heading up to exmoor for the day. i'll tune in later : )

yes irishmouse, thats how i see it

as far as i understand it the Zubs don't get a vote

i don't think that read right " i haven't seen any real evidence as yet that would lead me to believe other than the Aminex board are basically an honest bunch."

yes lastthrow agree, feather one's nest, its a possibility, they certainly wouldn't be the first or last, and i remember well the AFREN saga. but i haven't seen any real evidence as yet to lead me to believe that the Aminex board are basically an honest bunch. Though with this view in mind, how or where do you see NRs Solo and its 25% of Ntorya coming into play on this grand scheme of Zubair/TPDC take all.

if you are right lastthrow, that we the share holders are going to be shafted, then, its inconceivable to think that it is JB colluding alone, whilst he is under the gazing eyes of all board members (NEDs included) who are not just privy to a lot more of the info than us mere mortals, but also have considerable personal skin in the game to lose them self's. so either they are all a bunch of rats or the predicament that Aminex and its low share price finds its self at the moment can be alternatively explained.

the thing is that after the higher than expected results of the NT-2 well, the goal posts of the NT-3/C-1 well then moved.

yes matherdj, agree with that

yes cperkin, thats how i read it, "We expect to Conclude this Agreement early in the second half of 2018" ("The AGM will be held in London on 11 July 2018") of course nothing is certain, but the AGM is being held uncharacteristically late. Anyway if not, it should still be early in the second half and i believe they can call a general meting in 14 days.

nothing for certain lastthrow, but just getting know the board over the years and how they operate,( keeping the cards tight to there chests), plus the date of the AGM was set a good month or so latter than previous years, i believe to give time for the F/O negotiations to complete and then be concluded and voted on at the AGM, also BH states in the AR "work is in progress on a farm-out of a part interest in the Ruvuma PSA, with the aim of accelerating development of the Ntorya discoveries. We expect to conclude this agreement, which is subject among other conditions to shareholder approval, early in the second half of 2018." but who knows for sure, as Crusty says time will tell : )

lastthrow, you might be feeling completely different in a couple of weeks

ah thanks vike1, very good, well i'm not surprised and was expecting maybe a bigger alteration and a new well-site, after the remodeling, but it still sounds like they have done their homework, good stuff