Member Info for blackgold00

Crusty having gross general and administrative expenditure's cut to less than £1 million per annum, should help us get there.

Further Cost Reduction

"In 2021, the Company intends to reduce gross general and administrative costs by 30% from 2020 levels and an additional 25-30% reduction in 2022. By 2022, these efforts will reduce gross general and administrative expenditure (before one-off costs and exceptional items) to less than £1 million per annum, representing a 75% reduction from 2018 levels."

a few takers at these bargain bucket prices

list of what ?

nice to see you and the sun out today gaslady, its been a cold wet lonely winter, bloody old Aminex/lockdown, still the sun is shinning today and hopefully there's more to come. : )

"are you yet 100% sure that the scheduled Q1 2022 drill might not yet be further affected by delays in the License extension?"

excellent question Crusty, i don't know about 100% sure, but as i see it, all the nitty gritty's, that is all the issues that the Tanzanian Gov felt they had with the existing PSA were ironed out in the long winded (PSA review), hence the PSA extension with its work-program was granted, and we are now led to believe ARA are now speedily progressing the 3D seismic so as to start 2nd quarter, to align with the next available operational weather window.

so with the work commitments being fulfilled. and as i read the text from the RNS (Ruvuma Licence Extension Granted) "permissible under the current legislation" I would then say (Tanzania Gov not withstanding ) i'm pretty sure they have nothing to gain now by hindering Ntorya's progress, in fact i would say the opposite.

"It is acknowledged by all parties that the full work programme is unlikely to be completed during this extension period and the Company will therefore apply for an additional extension(s) as necessary and as permissible under the current legislation."

that is market value at present, but after the 3D seismic, and if it reveals what we hope fore then that value could change.

yes sort of agree Crusty, but if a company is now willing, to pay Scir $20m for their 25% share and with full knowledge another $35m will need to be spent on development cost, (all things being equal), then i would see that as further underpinning Ntorya potential market value.

yes maybe Aimster, but at some point (i think we can all agree) leading up to the CH-1 spud, a higher SP will be realized. i just feel that if Scir announces a deal for Ntorya that reflects a higher valuation than both the current share price's do, then that might well give confidence and influence investors (not traders) to get in sooner rather than later. i mean for the CH-1 spud and what its targeting at the end of the year, the SP is very depressed.

"$20 million readthrough valuation of Scirocco’s 25% "

well with SCIR M.C at £10m and AEX at £17m, and if SCIR were to secure $20 million for their share of Ntorya, how would that then (read/back/though) to Aminex's 25% share with the $35 million carry of the development costs ?

hopefully, if/when its announced, it will inject some certainty and confidence into the Ntorya project and move the share price to reflect a more reasonable valuation, prior, and leading up to the CH-1 spud. fingers crossed anyway : )

i wonder how that would

with what we know of the Tanzanian government there's no problems there then

https://www.energyvoice.com/oilandgas/africa/ep-africa/300856/scirocco-progress-tanzanian-carbon/amp/?__twitter_impression=true
"Reynolds was optimistic that a deal in Tanzania would be faster moving than the protracted Aminex arrangement. Scirocco’s planned sale is more straightforward, he said. However, the Tanzanian government would still need to give its approval."

dec 2021, hmm, not long now then MAX, that is going by the ( glacial time scale) of Aminex : )

yes, but the planning and acting out the end of year CH-1 spud might well be the dominant driver (in and when) the extension is granted.

" I suspect the licence will become a problem again in April"

oilriches, i dont see that being the case this time around when license is renewed.

for one, the main reason for the holdup last time round was the drawn out PSA review, plus the drilling commitments and work-program for the license is already agreed, so it should be just a formality. do i hear people laughing : )

https://www.lse.co.uk/rns/AEX/ruvuma-licence-extension-granted-dfdvdbo7dvtru40.html

my brackets
"It is acknowledged by all parties that the full work programme is unlikely to be completed during this extension period and the Company will therefore apply for an additional extension(s) as necessary and (as permissible under the current legislation)"

yes gaslady, all the potential stakeholders in play, know the long-term value and how desirable a share of the Ntoya assets would be. Yes lots of discussions/negotiations going on away from the public gaze, all to be reveled in its time.

yes, we need a bloody miracle

two bucklers

http://aminex-plc.com/BoardOfDirectorProfile.aspx

and looks like Aaron LeBlanc (Chief Operating Officer) is still there, part of the of management team. all in hibernation for a year or two or three, and some think that's the strategic initiative, i don't think so ?

http://aminex-plc.com/SeniorManagementProfile.aspx

mick

i couldn't have said it better myself mick

mick2020 "Good to see that Katherine is trying a little bit harder to promote the company these days. The problem remains the same though: there is no news whatsoever, all we do is waiting on an increase in gas demand. No news on a licence extension, no news on drilling plans, no news on growth and certainly no news on G&A cost reduction targets."

thats not funny mick, just think of all that long term production from Ntorya, you know you want a some.