Member Info for blackgold00

Tanzania desperately need gas ?

and all for a gross $30.8 million spend, $7.5 million net to AEX, for a share of 60 mmscfd production, 15 mmscfd net to AEX. How much is that worth to Aminex ?

it all looks quite positive to me : )

·" APT and the Tanzania Petroleum Development Corporation ("TPDC") are in advanced negotiations to accelerate gas production from the Ntorya gasfield. The proposal, following the successful drilling of CH-1, is to utilise the newly drilled well and the existing suspended gas producers, Ntorya-1 ("NT-1") and Ntorya-2 ("NT-2"). This is expected to lead to gas production and receipt of production revenues in early 2024, almost 12 months earlier than originally envisaged. "

· The acceleration of production through the initial three wells is strongly supported by the Tanzanian authorities and is based on the following:"

o Commitment by the TPDC to construct a 30 km pipeline as soon as possible to tie the Ntorya gasfield into the existing Madimba processing and pumping station."

o The incorporation of three producing wells - CH-1, NT-2 and NT-1, the latter of which will be worked-over after the drilling of CH-1 to repair a minor leak in the casing string."

o The three wells are expected to produce at least 60 mmscfd in aggregate."

o " The estimated gross capital budget for 2023, which has been approved by the joint venture partners, is US$30.8 million, includes the processing and interpretation of the 3D seismic data, drilling and testing of CH-1, re-entry and work-over of NT-1, together with the purchase of the necessary manifold, flowlines, fiscal meters and hook-up system to facilitate early production."

"Not looking good guys and gal..."

well the shareprice wouldn't suggest that

so US$30.8 million gross spend to get us to production, aex is going to have a lot of funds to play with. loads of money : )

A tick up for you Rellik : )

That's OK then

Rellik, I don't disagree, it just sounds like too much, like easy money to me. Lol. We will see, not to long now : )

" if there is a delay the price will drop "
yes, but by how much and by how long, and then again, if there is no delay and the spud is said to be within weeks say, what would be the affect on the SP then ?

yes agree ICB, another thing they stress in the h/y report is they need the CH-1 drilling results along with the 3D seismic results to formulate the Ntorya development program, which is expected in the coming months. So CH-1 spud ASAP.
my brackets
"The 3D seismic survey is now 80% complete, (with the drilling and testing of Chikumbi-1 and the integration of the seismic and well results to formulate a Field Development Plan ("FDP") for the Ntorya gas-field expected in the coming months.) The 3D seismic acquisition effort is projected to be completed by the end of the first week of October 2022 and spudding of Chikumbi-1 remains on schedule for November 2022."

Also, they were very accurate with the timing of the 3D seismic completion
POST PERIOD END
·" Ruvuma 3D seismic full acquisition of data expected to be completed by 8 October 2022, with processing and interpretation continuing into early 2023"

· "Spudding of Chikumbi-1 remains on schedule for November 2022"

"I do have a feeling that we'll get news next week."

Hmm, I think alot of people have that feeling , I'm sorry Crusty if you don't feel it, maybe your antenna is broken. Lol : ) yes let's see what happens next week, all good fun ???? : )

and i don't think it will be to long now before we find out

yes, we will : )

"if a deadline has been set"
its not a deadline RoJo, it "remains on schedule"

no, nor would i be surprised as all past 3 wells were spud end of Dec beginning of Jan, but as they've said, "Spudding of Chikumbi-1 remains on schedule for November 2022, things could be different this time. Anyway, what's a month or two when you consider how long some of us have been here waiting. lol

i dont think we will get rig (mobilization news) i think it is, or will just happen, as we have been told already; long lead items have been secured. and reading this paragraph from the report, they clearly plan and want to have the Field Development Plan ("FDP") for the Ntorya gas-field formulated ASAP and presented in the coming months.

half year report, my brackets.
"Substantial progress has been made on Ruvuma: The 3D seismic survey is now 80% complete, with the drilling and testing of Chikumbi-1 and (the integration of the seismic and well results to formulate a Field Development Plan ("FDP") for the Ntorya gas-field expected in the coming months) . The 3D seismic acquisition effort is projected to be completed by the end of the first week of October 2022 and spudding of Chikumbi-1 remains on schedule for November 2022. The current operations represent a significant step towards monetising this extensive gas resource through production into existing infrastructure and transportation to established power and industrial markets in Tanzania."

" There was no suggestion that they would use CH1 for two targets."

are people getting muddled up with CH-1 Ntorya Cretaceous (appraisal target) and its Jurassic exploration target, ie 2 targets with the same well.

hmm, Buckets and spades, yes, that does fit in well with the dinky toys. lol

I'm inclined to agree, as i see it the last official report of the spud date was on the 30th of Sept, where reporting (POST PERIOD END) they stated,
·" Ruvuma 3D seismic full acquisition of data expected to be completed by 8 October 2022, with processing and interpretation continuing into early 2023"
· "Spudding of Chikumbi-1 remains on schedule for November 2022"
Well, we now know that the information that AEX had at the time of reporting (30th Sept) regarding the seismic completion, was extremely accurate and was completed as stated, so i see no reason to doubt the statement, that the "Spudding of Chikumbi-1 remains on schedule for November 2022"

ARA, are a lot further ahead of the seismic info curve than us, I fact they need to be If they are going to make decisions like drilling CH -1a/b back to back??