Member Info for blackgold00

yes, and i think the negotiations and agreement, regarding the out-standing payments, is or has been connected with the negotiations of the Nyuni license extension/work-program. and i believe Aminex hinted at it by way of saying
( "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 ")
So hopefully now, news soon re; progress being made with the Nyuni license /work-program and a potential farm-in partner ect.

"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. "

well yes highland, it would be nice if AEX was in the position to go it alone, but as i see it, that would/could take 5+ years ? and be to long from the TPDC/Tanz Gov perspective, and they own the new SS processing plant with a capacity of 140 mmscfd that is all but lying idle, so i believe there is or will be an urgency for gas to be discovered to feed that processing plant.
The other thing is, Aminex holds 100% of the Nyuni license, and is in no position at the moment or indeed for sometime to fund a 3D seismic program and then, any following exploration wells which will not come without there risks. So i'm in agreement with the company that a farm-in/partner or what ever, is the way to proceed TO progress the Nyuni license. and i wouldn't be surprised at all, if a lot of M&A (activity negotiations ect) hasn't been going on with the Minister of Energy , whilst waiting on them to grant the (Nyuni license extension along with its work-program).

H/Y Report
"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"

yes Alcapone1, and i think you'll find that is the focus now is, as "the Company continues in negotiations with the Minister of Energy". To farm-out Nyuni, and now that the KN receivables have been resolved we are much closer to this happening.

H/Y Report
" 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."

"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."

Aminex remains focused on projects which will deliver commercial gas to the Tanzanian markets in the near term and Aminex believes the Nyuni Area acreage offers considerable upside exploration potential to complement the development projects at Ntorya and Kiliwani North. The proposed acreage to be retained generally lies in the shallow water areas adjacent to the Kiliwani North Development Licence, an area with existing gas infrastructure, which will require the acquisition of 3D seismic to move shallow water targets to drill ready status."

yes Cperkin, interesting, why would AGS stop the 3D seismic operations for the rainy season, (which must come at a cost to AGS), if there is no rain. I would had thought if they can carry on and complete it, they will.

"Join Eric Nuttall for his Ninepoint Energy Fund Market View as he explains why he thinks we are at the beginnings of a multi-year bull market for oil."

https://www.ninepoint.com/commentary/commentaries/2021/102021/eric-nuttall-october-market-view/?fbclid=IwAR09gKEnWn_fGIUmfo4htLBK-p9iHhxXBQLKa3MqDZr51evHFnMAfh5pCjc

Crusty, you are going to give yourself a headache, i think/believe they APT/ARA are, after a successful CH=1 drill will be to implementing a early production system (EPS) by the end of 2004, transforming AEX potential revenue and ability to fund future project.

yes Tanzy, he never does, he doesn't engage in debate, he hopes or thinks his one liners is enough, to influence the sp.

Well i think the current mcap of £27m mcap will be perceived as being bonkers in about a years time. " APT's revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf (8,236 Bcf unrisked), in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf (5,419 Bcf unrisked)"

RNS 22 October 2021 (Ruvuma Operations Update)
"The Ruvuma JV has approved the 2022 work programme and budget which is designed to meet all work obligations under the terms of the licence extension previously announced on 18 August 2021, and further advance the appraisal and de-risking of the existing gas discovery on the licence."

"The work programme will concentrate on shooting 3D seismic on the licence area and drilling the Chikumbi-1 well. The associated project budget for the 2022 work programme is approximately US$25 million and under the Farm-Out agreement completed with ARA Petroleum Tanzania Limited ("APT") in October 2020, Aminex is fully carried for its 25% participating share of an estimated US$6.25 million".

"APT, the operator, has confirmed that mobilisation of the seismic team has commenced, and the first phase of the seismic shoot will begin on 15 November 2021. The team will then complete the second phase of the seismic shoot in Q1 2022 after the Tanzanian rainy season. The Chikumbi-1 well is expected to commence drilling in Q3 2022."

"The seismic acquisition and subsequent interpretation will seek to refine and confirm the exploitable gas resources of the Ntorya field. As previously announced, through a re-interpretation of the existing 2D seismic dataset, APT's revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf (8,236 Bcf unrisked), in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf (5,419 Bcf unrisked)."

"oh, unless we get an update confirmation RNS for receivable monies re KN-1"

yes gaslady, it was announced on 15th OCT, so we should/could hear something 15th Nov or there about, as the TPDC is required to make the payment within 30 days of execution of the settlement agreement.

"The TPDC is required to make a payment of US$4.37 million to the Company within 30 days of execution of the settlement agreement. After distribution of JV partner shares of the gas sales and remittance of indirect taxes and export duties the Company will retain approximately US$1.85 million."

slide 12
http://admin.aminex-plc.com/uploadfiles/EGM%20Presentation%20Jan%202019_Final_long%20v1.pdf

yes Vike ($6.25M), I'm surprised at how low the seismic and CH1 drill costs are, so potentially if successful and also the work-overs of NT-1 and 2 are ok, then APT could/would have the gas for the (early production system), i wonder whether agreements have been reached with TPDC on who pays the costs of the 20 mile ? pipe-line to the processing plant.

Yes Ufufuo, i think so to, i didn't realise or had forgoten, that it was AGS that carried out the 2D seismic in Ruvuma 4 or 5 years ago, maybe more.

https://www.bus-ex.com/article/africa-geophysical-services-ags
"On the heels of its success in the basin, AGS is now in the process of mobilising for a contract it was recently awarded by Ndovu Resources, a wholly-owned local subsidiary of Aminex. This particular contract will see AGS carrying out 2D seismic over a distance of 890 kilometres, stretching down to the Mozambique border."

yes, that news would be excilant, and could mean Aminex being cash generative again reasonable soon, hmm, and to use Crusty's metaphor, "change the dial". on how the market currently values Aminex.

no, i wouldn't try to do that RoJo, i'm just curious to see what going to happen to SCIR 25% holding. considering their share of cost US$6.25 million for both the 3D seismic and CH-1, i would imagine that many of SCIR share holders would like to stay in the project, at lest for the drill.

well i'm pretty sure, now "that mobilisation of seismic team has commenced" the costs accrued by (Africa Geophysical Services Limited) to get the team and equipment on site and set up etc, would have to be paid by APT/ joint party, upfront and in advance, hence the start of the cash-calls, and i'm wondering regards SCIR recent RNS (Investment Facility - further closing of US$1,000,000) though they state differently, would help provide money to help fund their share of costs.

I have a feeling we are going to hear news fairly soon regarding the potentual sale of their 25% share of the Ruvuma PSA ??

no, not the short term traders, they want to make their money like yesterday, in out in out shake it all about. lol

yes well, the market works in a mysterious way RoJo : )

yes, it all looking very certain now, no room for the doubters now.

fjones, when you say, "he was saying it all been sorted with the drill company and it all amicable" who are you referring to, AEX or HE1 ?

you'll have to go look your self's ,lol i wonder if we're still using Sakson