Member Info for blackgold00

"Look at how long the farmout took to complete."

yes, and look what happened when APT/ARA told them that the long stop date will not be extended again, and APT might terminate the Farm-Out Agreement ? we got action then pretty quick.

Aminex announces that the parties to the Ruvuma Farm-Out Agreement have, at Aminex's request, agreed to extend the long stop date for satisfaction of the remaining conditions to the Farm-Out from 30 September 2020 to 15 October 2020.

"Aminex remains hopeful that Tanzanian Government approval of the Farm-Out and transfer of operatorship will be obtained by 15 October 2020. The Company notes that this is the ninth extension to the long stop date and has been advised by ARA Petroleum Tanzania Limited ("APT") that the long stop date will not be extended again. Consequently, if such Government approval is not obtained by 15 October 2020, APT will have the right to terminate the Farm-Out Agreement."

well we know they are pursuing a consolidation with another operator, how far its progressed who knows?

"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."

i guess the approval from the Tanzanian authorities could come at any time.

"The tendering for the acquisition of 454 km2 3D seismic has been completed and the Operator awaits approval from the Tanzanian authorities for the issue of the seismic acquisition contract. It is expected that acquisition will now commence later in the third quarter of 2021. "

yes agree with that Crusty, and fingers crossed that it will be resolved soon.

"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. "

my understanding of the KN-1 GAS payment dispute, lies somewhere with-in the 2014 (FORMAL ADDENDUM TO RUVUMA PSA) agreement between Aminex and the Tanzania Gov, which i now believe is being sorted/concluded now that the Farn-out and license has or is been agreed.

Aminex PLC ("Aminex" or the "Company") is pleased to announce that a formal Addendum to the Ruvuma Production Sharing Agreement has been signed with the Tanzanian Minister of Energy and Mines.

https://www.lse.co.uk/rns/AEX/formal-addendum-to-ruvuma-psa-bsggk5z739g6rbv.html


"The Addendum allows for the remaining obligations under the First Extension Period to be completed in the Second Extension Period, as previously announced by the company on 30 May 2013. The amended agreement requires four wells to be drilled by the end of 2016. In conjunction with the amended obligations to the Ruvuma PSA, the Company has granted TPDC (Tanzanian Petroleum Development Corporation) and the Government certain securities over Kiliwani North Development Licence on a sliding scale basis. As each of the wells is drilled the security reduces and when all four wells are drilled the Government and TPDC will no longer have any further security over the Kiliwani North Development Licence."



Jay Bhattacherjee Aminex Chief Executive Officer commented:

"We are delighted to have received formal approval from the Government of Tanzania for the moving of our commitments to the Second Extension Period; it will allow us to accelerate our seismic programme over the Ruvuma PSA in order to identify high grade drill ready prospects."

Kiliwani North and Nyuni

"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."

yes agree Crusty, CH-1 is acknowledge to be much to big and important a well, to take any unnecessary chances, now looking at ("GIIP") for the Ntorya accumulation of 3,024 Bcf.

"their revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf, in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf, which will be appraised by the planned seismic and drilling programme."

yes, i agree, it sounds like the actual location of the CH-1 well, could/will be reviewed. when this well is eventually drilled i don't think the market well be able to control its self. lol

"The 3D seismic will be essential in optimally locating the Chikumbi-1 well to derive the most value in determining both reserve and development potential. "

Crusty, are you saying the Gov are getting a head of themselves

(Tanzania Energy Budget 2021/2022 document.)

Section 140: Beetle-1 mentioned.

140. "Mr. Speaker, For the year 2021/22 the Government through PURA will oversee the drilling of one exploration well (Chikumbi-1) in the Ruvuma nursery"

yes agree PageofCups, like the license extension and progress of 3D, especially as ("The new seismic will also deliver information that will be helpful in the final planning of the Chikumbi-1 well"). you know i cant help thinking that the license is already done and 3D taking place. now there's wishful thinking : )

thanks cperkin, yes all has to be moniterd though PURA, i'm sure we will hear somthing soon anough

oh well, maybe later today or else we'll have to contend with the dreaded Friday

will they get it done on time i wonder

"it now expects to report its 2020 Annual Report and Accounts in May 2021, rather than by 30 April 2021."

ah, fine StoneFold, yes interesting we'll see.

i don't think that will be a land-rig Stonefold

thanks StoneFold, i'm hoping things should start moving with APT 3D, now pipe-line signing is done. that is a long pipe-line that needs heating

a bit more new news ?

https://twitter.com/abdulsamadz

Ministry of Finance Tanzania
@mofURT
"The Construction and operation of a 24-inches underground pipeline to transport crude oil from an inlet flange at the kabale pumping station (PS1), in Hoima district, Uganda, to an export flange (Marine Storage Terminal (MST) at Chongoleani, Tanga, Tanzania is set to begin soon."

needed

thanks both, i don't know what quantaty of gas will be deeded to produce the electric to heat the Tanzy side pipe-line, but it has to be considrable, and as i understand it, there's no spare capassity at Song Songo or Manzy Bay ? so just leaves Ntorya, hopefully then, if they're signing 20th May, then some kind of agreement has been reached with TPDC and APT/ARA.

StoneFold, interesting, where did you get that from. thanks