Member Info for blackgold00

not for me

there's been just to many doubts and uncertainties over the years license extentions, farm-outs, Gov PSA reviews, etc etc etc. but one thing is becoming more and more certain Ntorya is big and the geology is great. and like Gaslady says as we get positive news like license extension 3D ect. then at some stage there will be a tiping point from the negative view of Aminex to the positive. here's hoping anyway, its been a long time coming : )

"We already have contingent resources of over 3 Trillion Bcf for goodness sake and yet a MC of £22m - "

yes Crusty, but that was from revised mapping of the 2D seismic, so it cant be that confident. The 3D seismic when compleated will add credence to those furgures and further de-risk Ntorya, yes a (mean risked recoverable gas resource) of 2 TCF, is ginormous, and that's just the Cretaceous, so i wonder what monster might be revieled by the 3D down in the Jurassic : )

i'm positive the 3D will be positive : )

Crusty "We might BG and we might not - indeed we might hear that we are NOT going to get paid on our outstanding invoices and that we have tried and failed to get a JV partner for Nyuni / Kiliwani or that the proposed work programme has not received necessary approvals"

well at lest the Nyuni extension and it's work-program is being supported by the TPDC, I'm sure it will come in Tanzania's time.

2019 AR
"The proposed amended work programme and associated commitment is being supported by the TPDC and awaits the approval of both the Petroleum Upstream Regulatory Authority (“PURA”) and the Minister of Energy. Aminex was advised to, and has submitted, a 2020 work programme and budget for the Nyuni Area PSA, assuming that the extension and amended work programme have been accepted. Aminex remains optimistic that the proposed extension and work programme will be accepted and approved in the near future."

Crusty i would say it is vitally important for the Tanzania Gov, to support an active exploration program to compliment its existing developing and producing gas assets, so as to maintain their growing domestic and planed export gas economy well into the future. Plus as i've stated before the TPDC has their new Songo Songo gas plant nearly lying idle waiting for gas to prosses.

last AR
"Even with the COVID crisis, there remains a significant and rising energy supply deficit in Tanzania, mainly when considered against growing demand, highlighting the importance of assets at different life cycles of their development like Kiliwani North, Ntorya and Nyuni."

then all should be fine then Crusty

well yes Crusty we might or we might not, but i think the probabilities of a positive outcome regarding those issues are growing day by day and pressure is building on the Tanzanian Gov to secure future supplies of gas.

"Even with the COVID crisis, there remains a significant and rising energy supply deficit in Tanzania, mainly when considered against growing demand, highlighting the importance of assets at different life cycles of their development like Kiliwani North, Ntorya and Nyuni. We would also note to shareholders that we are likely to be supplying gas domestically and are therefore less directly impacted by global commodity price weakness once in production."

plus we could be supprised and get news regards outstanding payments or even news re; Nyuni farm-in ?

"The Company continues to explore the opportunity through remedial work to restart production from our Kiliwani North well. We, therefore, continue to see value in Kiliwani North through a low-cost remedial work programme. However, no work can progress on Kiliwani North until resolution is reached on the Kiliwani North receivables. The Company continues to hold robust discussions with the Tanzania Petroleum Development Corporation ("TPDC") in seeking resolution of the outstanding payments for past gas sales from the Kiliwani North development licence. Both parties are aligned in the acknowledgement that these matters need to be resolved satisfactorily for the benefit of the local gas industry and to enable Tanzania to secure further investment and upstream gas development."

"Meanwhile, the Company, having applied for a 3-year extension of the Nyuni Area PSA with a revised work programme in 2019, continues to await a response from the Tanzanian authorities. The Nyuni Area is proximate to the Kiliwani North licence and consequently in an area of existing gas infrastructure. We see this as another opportunity to reduce risk by pursuing a consolidation with another operator in country or a farm-in partner to assist in the further development upon Completion of the Farm-Out."

"Aminex is pleased to announce that the Ruvuma joint venture has received an extension to its licence under the Ruvuma PSA from the Ministry of Energy of Tanzania."

"APT awaits approval from the Tanzanian authorities for the issue of the seismic acquisition contract."

Well i suppose the relevent authorities could not issue the ("seismic acquisition contract") untill or before the granting of the Ruvuma licence extension, so hopefuly now that can and will be issued. Also the fact that they've issued a two year extension this time, is reassuring.

"It is good news to see things progressing with the government. Seems the seismic area has been cut back from 450kms to 200kms."

yes agree with diddles, the 200 square kms is a minimum.

i have a feeling or i might have read somewhere or just assuming, that after the ch-1 well and providing successful, they will be going for an (early production system) with NT-1 and NT-2 PLUS the CH-1 well, which could well be a (barn-burner). plus could be in production with the 3 wells by, as stated by end of 2024.

read the RNS man.

The MM have to play their games, its what they do, MM, milking the market, tempting buy and sales.

i guess they needed the extension first before the Gov could give the go ahead for the 3D seismic ?

i dont think you'll be able to get in this cheap again

." It is still expected that acquisition will commence in the third quarter of 2021. Drilling of the Chikumbi-1 exploration and appraisal well is expected to commence early in the third quarter of 2022."

yes it looks like it could drag out over at HE1 for some time, you could have many years work there.

good answer : )

the thing is RoJo, if we all thought like you, none of us would be here, then what would you do with your life

Yes value will out, (it's only the question of time), but that then begs the other question, have you enough, lol ??

now that was funny RoJo