Member Info for blackgold00

the new 3D seismic should cover the Kiliwani south prospect ?

Bearskin, thats for your mate on the other side to munch through : )

Porkpie, with mustard, hmm yummy ??

welcome tick up : )

sorry, should have said, it was my brackets in the AEX paragraph.

Yes cperkin, WEN need a project that will deliver growth, or they will stagnate along with their sp, i can't help thinking these three objective statements, from these three company's, connect them
WEN
"The Company continues to explore and evaluate growth opportunities both within the Mnazi Bay licence and the greater geographical region to support increasing in-country demand for natural gas"
SCIR
"we are continuing with our ongoing discussions regarding possible farm-down and divestment options, "
AEX
"The Company can also report that our negotiations with the Tanzania Petroleum Development Corporation ("TPDC") have made substantial progress in seeking resolution of the outstanding payments for past gas sales from the Kiliwani North development licence. The Company appreciates the TPDC's constructive approach to the negotiations and believes that both parties agree that these matters need to be resolved satisfactorily and swiftly to benefit the local gas industry (and enable Tanzania to secure further investment and upstream gas development)."

they had the general PSA review, plus no doubt ARA would had ironed out any disagreements/concerns when they took over as operator of the license. But as far as i know the 15% back-in clause would still stand and not be negotiable.

"But would AEX still be carried to $35m, or would it be $35m minus 15% (-$5.25m = $29.75m )?"

yes, as i understand it, they would still be carried for $35m. The deal was in affect, Aminex sold ARA 50% of Ntorya for $40m, $5m cash and a $35m development carry. At the time the deal was done, the terms of the Ruvuma PSA would had been fully understood along with the TPDC 15% back in clause.

i can't imagine after a successful seismic report and a CH-1 drill, the TPDC not exercising their rights.

Well, we should hear soon enough, which way Scirocco are going, i wonder if they have started to receive the expected
seismic works Cash-Calls yet ? and another thing regarding the (joint ventures partners) respected % holdings, is that the TPDC has the right to back into the Ntorya development of up to 15% by funding the development of that % share, which of course would reduce each of the partners respected holding by 15%, so i wonder if that has a possible barring on ARA/AEX considerations, regarding SCIR 25% and their indications to possibly exit the Ntorya project ??

2nd Feb SCIR RNS OPS update
"As Scirocco moves towards these key operational milestones we are continuing with our ongoing discussions regarding possible farm-down and divestment options, while simultaneously progressing our funding options in the event that we retain 25% interest in Ruvuma at the time of the CH-1 well."

"Unless Aminex can Tap ARA know how into getting the issue resolved"

Well , i would had thought with the Zubair's holding nearly a third of Aminex and with complete control of ARA, that wouldn't be a problem and surly would be in their interest, and as we have just witnessed (via the placing) they are still in support of Aminex. yes, one big happy family.

"delighted if there were some movement and development over Kiliwani"

yes me too, though i guess in that regard, there would had been no reason, for them to have said so. so yes i'm a little bit puzzled, why now ?

bull, the thing is they could have got then even cheaper last year.

"BG, it's to cover their expenses as in G&A,"

yes, but they can't say anything else, but this has put them in a stronger financial position, and just maybe, (looking at the timing), something is afoot? some kind of resolution/agreement re; SCIR 25% of Ntorya, (which has to be resolved, (one way or another) soon, i believe.

Well, if SCIR was to relinquish their share of Ntorya, Aminex has the funds now to pay for that 8% of the 3D AND CH-1. ?

i don't think to many are expecting it in the 3Q now after the late start to the 3D.

"3.0 They relinquish it and give AEX and the Zubairs another 12.5% for free each,"

cperkin, no, SCIR 25% share would be distributed (pro rata) 2/3 to ARA and 1/3 to Aminex. yes AEX would then have to fund that extra 1/3 or 8.3%.

"Russian President Vladimir Putin has just said about gas contracts. Reuters report he said that he had signed a decree saying foreign buyers must pay in roubles for Russian gas from 1 April, and contracts would be halted if these payments were not made." ??

" $35m of "carry" is NOT worth $35m of cash."

well i dont know, it is when you have to find the cash to pay for the carry

one of the problems as i see it is, what ever the deal and who ever is involved, it will have to be vetted by, and no doubt, in the best (overall interest) of the TPDC/GOV ?