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Https://www.pura.go.tz/pages/ruvuma
Ruvuma
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
Effective Date (Initial Expl Period):
29th October 2005
First Exploration License:
3rd December 2012
Second Exploration License:
28th January 2014 – Second Period has been extended
License Effective Date:
15th August 2021
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 wouldn't be surprised Crusty if the TPDC are instergating their back-in rights to become part of the joint venture going forward. And of course we are still waiting on the Ruvuma PSA licence, which in itself is waiting on the development licence.
"Whilst APT awaits award of the Ntorya Development Licence from the Tanzanian authorities, securing the assets for development for at least 25 years with provision for further extension, the Operator continues to work on multiple work-streams to commercialise the discovery on behalf of the joint venture (JV) partners and contribute towards Tanzania's energy security. Upon receipt of the Development Licence, APT will:"
· Contract a rig operator to undertake the drilling of the CH-1 appraisal well to further derisk the asset and, if successful, complete as a gas producer."
· Re-enter and repair a tubular leak in NT-1 to enable the well to be safely completed as a gas producer."
· Undertake further testing on NT-2, currently suspended as a gas producer, using a mobile test unit, to refine the design of in-field gas processing facilities."
· Continue to support the Tanzanian authorities in the early construction of a spur gas pipeline from Ntorya to the Madimba Gas Plant to accommodate gas extraction from the field."
I'm surprised you don't know 🙂
"Aminex now anticipates early issue of the Development Licence which will allow the award of a rig contract and enable the drilling of Chikumbi-1 and the workover of Ntorya-1. The testing of Ntorya-2 is now scheduled for mid-year using an in-country mobile test unit."
The mind boggles. lol
"Furthermore, the new 3D seismic images a possibly even larger area of gas charged reservoir sandstones, beyond the high confidence area established by the new seismic inversion modelling. This provides for potential additional prospective gas volumes associated with the Cretaceous age sand units tested in NT-1 and NT-2 (Units 1 and 2) and for the possible existence of an as yet undrilled shallower sand unit (Unit 3), to be tested by the forthcoming Chikumbi-1 (CH-1) appraisal well later in the year. An upside aggregated GIIP volume for the Ntorya accumulation based on a success case in multiple stacked sands at CH-1, is estimated by APT to be up to 7.95 Tcf (approximated to a mean unrisked P10 GIIP)."
"I agree we won’t see 15p this year- we were more likely to see 3p plus"
"But with momentum and media coverage maybe we see 5p"
Yeh, and maybe when the CH-1 gets drilling, with its potential to upgrade the resource by another 3 tcf of gas, the shares could even surpass 5p by quite a bit. How many TCF of gas do you need to get the market buzzing. Lol
"although five posts in 26 minutes indicates it can also make somebody's bum get twitchy and that's before the beer 🤣"
And on a Sunday, lol.
"...and one thing is certain - they didn't get 'filthy rich' by investing in Aminex !"
Lol, not yet
RoJo, We are in the instant computerised telecommunication age. Cornwall is just fine, and now with the tremendous resource upgrade and the development licence incoming, ARA and AEX has a lot of messaging to get across. Yes let's see how share price performed from here. 🙂
Rojo, "All the good ones in the UK are in London. This one is in Cornwall 😂"
Yes, beautiful Cornwall what a better lovely place to be, truly inspiring. and also, (lost rojo ) is where so many of those "filthy rich" Londoners chose their second homes. 🙂
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"It would seem that ARA and AEX also started to believe that AEX had become the next WEN....!! ;0)"
No Crusty, they just waited for the story that they will tell, to be complete. Now with the 3D seismic reveling a world class asset, and with the development licence incoming. What a story they have to tell. Saves us a job anyway 🙂
If I was you, I would read all past rns of maybe years past, to understand the risks and prospects
RoJo "Have you taken leave of your senses ?"
No, he's taken leave of he1 🙂
No TL2, it wouldn't be up to the job for drilling the CH-1 well they are expecting extremely high pressures
It will arrive Crusty, sooner or later, it will arrive
Yes CH-1 is going to be one of the biggest well for a long time. So much upside
Yes, roll on CH-1, a potential doubling of reserves, from 3.75 to 7 tcf. The mind boggles. 🙂
He1 market cap of £70 million with no resource proven.
Aminex market cap of £36 million with gosh, how many Tcf of gas proven. Try and work that out. Lol