Member Info for blackgold00

"Managed to claw it's way back to 1p I see."

Oh, what a shame rojo 🙂😀

RoJo, so how much is your investment worth now then? So when did you buy, ten plus years ago, and you're still here, gosh, you must have put an absolute fortune in. RoJo, that makes no sense, we all make mistakes, you must learn to let it go andmove on, for your own sanity.

Baloney

"The issue is whether it can be extracted and brought to market at a cost that allows it to be sold for profit."

The issue? Lol, have a look at Wentworth/Orca's accounts 🙂

Yes agree, its good news that the TPDC are moving the pipeline project forward, which of course the Ntorya development is dependent, we can now expect development/GSA ect licences to be issued forthwith, so that ARA can start progressing the Ntorya development to first gas in Union with the completion of the pipeline to the processing plant.

Crusty Slide 7, You can see Likonde leads in orange and with the southeastern up-dip lead reaching as far as what was going to be the CH-1 site.

http://admin.aminex-plc.com/uploadfiles/Aminex%20AGM%20-%20May%202017.pdf

"Semantics BG, Likonde 1 is NOT in the Mtwara licnse area and Likonde 1 was chosen as the "optimal" drill location for that prospect. "

What's semantics got to do with it, we're not talking about the Likonde well, that was just a shot in the dark, but what the well revealed, (the potential Likonde leads), and in particular the (southeastern arm Likonde Updip Lead" )

"(Table 6-3). Given the proximity to the Ntorya field, RPS recommend reviewing the location of the

planned Chikumbi-1 well to ensure a confident test of the southeastern arm Likonde Updip Lead."

"We no longer have the Lindi License that Likonde sits in...."

Look at the map, and you'll see that the Likonde prospect goes into the Mtwara Licence appraisal area under the Cretaceous, so yes we do have the Likonde prospect.

The Ruvuma PSA, as I understand, covers the same area as that of the appraisal and is just about twice the size as the area covered by the seismic survey.

License Area Size: 766.76 sq.km

https://www.pura.go.tz/pages/ruvuma

Yes Roger, also I would keep a look out for any movement regards TPDC contracting out the work to build the gas pipeline from Ntorya to the processing plant, which of course needs to be inplace before any gas can be sold to the TPDC

Good comments from greyingsurfer re RNS, from ADVFN

greyingsurfer

"Partial Killiwani 3D was of zero current relevance, and only possibly of future relevance if it showed something they could get someone to farm into. Of no relevance to Ruvumna, where the action is."

"What it does do is postpone some likely mid term potential production from Orca, so if of any relevance it makes Ruvuma gas even more critical to Tanzania."

Roger, the thing is the GSA between (Songas Ltd) and the (Tanzania Portland Cement Company Ltd) are between twp private companies, whereas ARA/AEX GSA is being negotiated with the Tanzania government, so the talks are not connected.

"Discussions are ongoing with Songas Limited (“Songas”) and Tanzania Portland Cement Company Ltd (“TPCLC”) to negotiate new commercial terms under the gas agreement between the Company, Songas and TPCLC (the “Gas Agreement”) from August 1, 2024 to supply the volumes which are currently despatched as PG."

This will all come together when the time is right

"· The relevant Tanzanian Authorities have approved the Development Licence for the Ntorya Area and, as required by law, it is with the Cabinet of Ministers for final approval. The issuance of the Development Licence significantly de-risks the project, locking in the development of Ruvuma for twenty-five years."

Also note, the % holders and operator of the licence has been updated. No more SCIR

ONSHORE BLOCK: RUVUMA

OPERATOR:

ARA Petroleum Tanzania Limited (75%)

OTHER CONTRACTING PARTIES:

Ndovu Resources Ltd (25%)

License Area Size:

766.76 sq.km

PSA Signed Date:

29th October 2005

Yes, I think the development licence could be granted anytime now, it looks like Pura is in need of it to be granted so it can update the Ruvuma PSA which expired back in August and needs a new extension. for those that haven't seen this from Pura.

https://www.pura.go.tz/pages/ruvuma

Ruvuma PSA

Current License Phase:

Exploration – applied and awaiting Development License

STATUS OF OPERATIONS

The Operator has completed interpretation of 3D Seismic data and currently preparation of drilling Chikumbi-1 well is ongoing including mobilization of Long Lead Items and procurement of the drill rig. Further, pre-development activities are underway including preparation of wells workovers towards commencement of production of natural gas

"I've never posted on telegram"

Yeh right, and nor on ADVFN. Lol

Yes Tanzs, I think he's a wee bit peed off after being kicked off Telegram. Lol

"These Conditions include, inter alia, (i) consent from the Minister responsible for petroleum affairs in Tanzania under the Petroleum Act 2015 (the "Act") and any other applicable laws; (ii) the waiver of any right of first refusal or pre-emption right to which by the Tanzania Petroleum Development Corporation is entitled in respect of the Mnazi Bay asset; and (iii) approval from the Tanzanian Fair Competition Commission ("FCC"), in each case on terms satisfactory to M&P, acting reasonably."

"On 11 July 2023, Wentworth was notified that the FCC has issued a decision notice that application for FCC approval shall not be determined at this time and that this application will be marked closed by the FCC."

Https://www.lse.co.uk/rns/WEN/update-on-offer-from-maurel-prom-ltet2neczcjnxc4.html

I thought the bid for Wentworth was unlikely to succeed, when is the long-stop date ?