Member Info for blackgold00

certainly does, i wonder how the 3D seismic is doing, weather not to bad at Mtwara.

https://www.metoffice.gov.uk/weather/forecast/kyhtdk4pj#?date=2022-01-07

interesting edgar, though i fear SCIR, given their current financial commitments to the Ntorya project, could well be seen as vulnerable and more prone and to such activity.

i'm on the last of my12 hour night shift : (

pleasent dreams

yes i agree edgar, the current sp has blue sky potential, its as though the market is totally dismissing the prospective size/value and development of the Ntorya gas field. I'm sure they will cotton on soon enough.

i must admit that over the years, Aminex has served me up massive portions of the most humble of humble pie, though i have a feeling there is going to be something else on the menu this year : )

i don't know if RoJo has had a helping of humble pie before, he might find experience quite rewarding : )

good balanced post Ufufuo, we should hear something soonish re; the SCIR 25% Ntorya holding, which might put some floor value to that asset ?

Hopefully the same conditions apply for the Ruvuma 3D seismic. Merry Christmas one and all

HE1 RNS 20th Dec, my brackets
"On 16 November, Helium One commenced data acquisition of its 200 line kilometre Phase II 2D Seismic Campaign at Rukwa. (The campaign is ongoing with the late arrival of rains to Rukwa resulting in excellent ground conditions for data acquisition.)"
"As of 18 December, the company has completed 188.5 line kilometres, or 94% of the originally planned 200 line kilometer survey. Following encouraging early results, the Company has decided to extend the survey with an additional 20 line kilometres of 2D Seismic to secure additional data over promising targets"

on reflection, maybe AXA got a whiff of some up-coming cooperate action by Wentworth, that might not suet their current investment criteria and felt the need or was forced to exit. ??

so AXA Investment Managers have now sold out of WEN, I wonder why ?

well my take on Wentworth's recent management/board strengthening, is that they are seeking to take on an operational role, and is why i believe they are in talks with Aminex re; the 100% Nyuni license and possibly the KNDL which i think offers them that opportunity. plus given the increasing cash in hand being generated from they Mnazi Bay field, gives them the financial confidence to pursue such a venture, and it would seem they have a good relationship with the TPDC, which historically the same could not be said for Orca. ??

i agree Crusty, the strategy and transformation of the company that Aminex is now pursuing is not and bears no resemblance of Zubair's aspirations when they first invested in Aminex.

https://www.lse.co.uk/rns/AEX/placing-and-open-offer-j8wbyfixtphj57t.html

Ola Fjeld, COO ARA Petroleum (a division of The Zubair Corporation LLC) said: "We have known the Aminex management for some time now and believe that Aminex, with our support, can be rapidly built into a much larger oil and gas entity, in Tanzania and elsewhere. We are very pleased and excited to be associated with Aminex's management and its attractive asset portfolio. We will work closely with them to move the company forward."

I can't say i disagree with you there Crusty, though from the half year report the company made this statement.

"Aminex continues to focus on a non-operating strategy. The Board believes that this focus will allow it to ultimately improve shareholder value. Having successfully identified a farm-in partner on its key Ruvuma asset, the Company continues to actively seek various options for its other assets that will align with its strategy of reducing risk, securing investment and reducing costs."

"One other thing that has not been mentioned either is the (strong, in my mind) possibility that AEX will use the increase in market cap post CH1 drill to go to market for a Fund Raise; they missed that trick after NT2 and I doubt they would make that same mistake again"

possibly, but i think that will depend on any success they have in farming out the Nyuni and may be KNDL with it, which could relieve them of any further financial commitment ? I'm half expecting news in that regard soonish

I'm not saying this will be the GSA, but the (conclusion of the Gas Terms) will pave the way for the awarding of the GSA.

Extension of Ruvuma Licence
https://www.lse.co.uk/rns/AEX/extension-of-ruvuma-licence-ka1n7cuav93u4j5.html

"The operator, ARA Petroleum Tanzania Limited ("APT") secured the extension, which is valid for two years from 15 August 2021, and allows for the completion of the following:"
my brackets
· Acquisition of 200 square kilometres (surface coverage) of 3D seismic data
· Drilling of the Chikumbi-1 well
· (Conclusion of negotiations of the Gas Terms for the Ruvuma PSA.)

" it may well have hit 7+p intra year but I doubt that it will sustain it until December."

Crusty, the company is not where it was when they drilled the NT-2 well, which the SP at the time did sort of follow your price prediction above. the Ntorya project has moved so much closer towards monetization than it was back then, with license extensions and the farm-out providing the guaranteed development money. The 3D and the CH-1 well (hopefully) will provide the info and confirm the size and quality of the Ntorya resource. And then as we will be approaching 2023, the development/monetization of that resource will be looking the (on the not to distant horizon), plus the Jurassic target of CH- 1 has the potential to surprise the market.

Thunderbirds Are Go
https://www.youtube.com/watch?v=DaX4krPTeJs

yes the raised £1.85m was used to finance and reprocess the existing 2D seismic, and plan for the acquisition of new 3D seismic and the transition of Kiliwani South from a prospect to a drill ready target

https://www.lse.co.uk/rns/AEX/kiliwani-programme-acceleration-capital-raise-t89k3iqrqxwuy2g.html
7 February 2019
"The Company is pleased to announce that as it enters a period of operations it has raised approximately £1.85 million (approximately $2.40 million) before expenses through the issue of 127,226,781 new ordinary shares in the capital of Aminex (the "Placing") at a price of Stg 1.45p per share (the "Placing Shares").

"The board of Aminex has taken the strategic decision to seek funds to accelerate development over its Kiliwani North Development Licence ("Kiliwani") and Nyuni Area PSA ("Nyuni") to take advantage of depressed market conditions in the service industry. The net proceeds of the Placing will finance the reprocessing of the existing 2D seismic, to plan for the acquisition of new 3D seismic and to transition Kiliwani South from a prospect to a drill ready target (management estimates of 57 billion cubic feet gas initially in place). "

"Aminex have presented their 2022 work programme and costings for Kiliwani and Nyuni to TPDC and PURA and are awaiting approval. We await the result."

it would seem the work-program is supported by the TPDC and PURA, but is still negotiating with the Minister of Energy ?

this from the H/Y results
"In July 2019, Aminex submitted an application to the TPDC to enter the Second Extension Period of three years together with a request for an amendment to the work programme obligation for the licence area. The proposed number of blocks to be retained under the licence would reduce to five, from the current ten blocks under licence. Although the proposed amended work programme and associated commitment is being supported by the TPDC and PURA, the Company continues in negotiations with the Minister of Energy. "