Member Info for blackgold00

Yes, what a pong, just right then as you turned funny that. 😃😄

Yes poor old bojo, lol

Not fly RoJo, not yet. : )

Yes well AA, I am happy for the transaction to complete, and for the Ntorya project to now move forward.

In any case its very good news for ARA and AEX Ann the Ntorya project now going forward 🙂

Yes, well Speculating is a perfect form of knowing lol

🙂🙂

If there isn't a CGT issue then why was the extension needed ?

If there is a CGT issue, it should be made public

"Can you post an excerpt from a Scirocco RNS where they detail the dispute on the Ruvuma sale."

No that's the problem, and the (long-stop) clock is running out

This from Aminex prior to completion of their Farm-Out

6th May 2020

"As part of the ongoing process to obtain Tanzanian Government approval, the Company, with the support of its Tanzanian tax adviser, has been in discussions with the Tanzania Revenue Authority ("TRA") regarding any taxes payable on the Farm-Out.

· "All taxes must be paid before the TRA can grant the necessary Tax Clearance Certificate which is a legal requirement to enable the Minister of Energy to approve the Farm-out. The TRA's assessment of the Capital Gains Tax ("CGT") on the Farm-Out was US$2.2 million.

· The Board decided that although it disagreed with the basis for the CGT calculation, following a period of intensive discussions with the TRA to reduce the CGT, to avoid further potential significant delays, it was in the best interests of the Company to accept this CGT charge in order to expedite completion of the Farm-Out, which delivers significant value to Aminex and its shareholders:

25 May

"Scirocco and ARA Petroleum Tanzania (APT) have executed amendments to extend the longstop date of the proposed transaction from 30 June 2023 to 31 August 2023. Although Scirocco has continued to make progress with the Tanzanian Revenue Authority ("TRA") regarding obtaining tax clearance for the divestment of Ruvuma, Scirocco and its counterparty agreed it was prudent to extend the longstop date given this process is taking longer than expected. Based on dialogue with local authorities to date, the Board is confident of achieving completion of the divestment within this extended timeline, though Shareholders should be aware, as previously announced, that completion cannot be guaranteed."

Is there a pong around here : )

Loads of share price enhancing coming I wonder if there announcement is or will be tied in with the issuing of the new extended Ruvuma licence and its work programme, that is due in a week or so ??

("CH-1"). The Tanzanian authorities have given provisional approval of the new CH-1 well pad location and final written approval is expected imminently."

Signing of the GSA will take place upon approval by the Attorney General's Office."

· The Field Development Plan ("FDP") for the development of the Ntorya Area has now been approved by all parties."

· The Development Licence for the Ntorya Area has been approved by all relevant Tanzanian authorities and has been submitted to the Cabinet of Ministers for final authorisation."

And up again???

Yes, not long, news soon regarding the Ruvuma PSA extension due in the next couple of weeks, and that should lay out the works programme and maybe gas terms ?

That was, can complete

And if they do owe CGT then importantly it has to be paid before the transaction acanthus complete

Yes, the tanz tax authority says SCIR ones x amount of tax on the transaction, and SCIR says no we don't ?

"that doesn't mean that you take anything going"

Yes absolutely, we all live and learn by expireance : )