Member Info for blackgold00

"Just wondering - now there is a new operator will they be in charge of this activity, or is that outside the scope of what the new operator will be doing"

No Northern, ARA/APT have only farmed into the Ruvuma license, the Nyuni license is 100% Aminex and the KN Development License is about 57% i think.

"didn't Aminex do a raise of capital to address the Killiwani North issue?"

yes Northern, this from the A/R

2019 Activity
In February, we took a strategic decision to complete a fundraising for US$2.36 million to accelerate development
over our Kiliwani North Development Licence and Nyuni Area PSA and take advantage of depressed market conditions in
the service industry whilst awaiting completion of the FarmOut. With this capital, we were able to reprocess existing 2D
seismic and plan for the acquisition of new 3D seismic over both the Kiliwani North Development Licence and the area
adjacent within the Nyuni Area PSA.
We continue to see value in Kiliwani operations and have looked into remedial work to restart production from our
Kiliwani North well. In August,

yes gaslady, and from the H/Y REPORT, (Aminex has prepared a perforation strategy for a lower zone) and if successful, would be a game changer for Aminex.

http://admin.aminex-plc.com/uploadfiles/Aminex%20PLC%202020%20Half-Yearly%20Financial%20Report.pdf

"Aminex undertook preliminary remedial work to repair the downhole safety valve in late 2018 which resulted in
the flow of a small volume of gas, to the gas facility, before the well quickly ceased flow, likely due to fluid buildup in the wellbore.
Aminex has prepared a perforation strategy for a lower zone within the reservoir and an alternative remedial work programme intended to establish fluid levels in the wellbore, reservoir pressure and to unload potential fluid using foam treatment.
The Company is working with the TPDC on agreed methods to handle wellbore fluids which will potentially be unloaded during operations on the well. Agreement and planning will be required prior to undertaking operations. "

and what about Charles Santos with his 33 years of experience in political and commercial negotiations, he must had been brought in for a reason.

"With those problems outsourced, what will our BoD do from now on? What initiatives? What's the strategy? Where do we go from here?? I'd like to see the thinking."

vike1, how the Nyuni/KN work program will be funded remains to be seen, but the see it as complementing Ntorya.

"Aminex believes the Nyuni Area acreage offers considerable upside exploration potential to complement the development projects at Ntorya and Kiliwani North"

H/Y report
"In order to benefit from economies of scale, the Company plans to acquire 3D seismic over part of the Kiliwani North Development Licence and multiple leads on the adjacent Company-held Nyuni Area acreage as part of the same programme. After processing and interpretation of the proposed 3D seismic data, Aminex expects to identify a potential side-track and new drilling locations on both the Kiliwani North and Kiliwani South structures with the intention, on the back of drilling success, to deliver near term gas to the Songo Songo Island Gas Processing Plant (“SSIGPP”).
"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 DevelopmentLicence which will require the acquisition of 3D seismic to move shallow water targets to drill ready status. The Company remains optimistic that the proposed extension and work programme will be accepted and approved in the near future"

just a bit of fun math

1 trillion / $3 per 1000 = $3 billion, wow thats a lot

"140 MCF per day per 20 years?"

whats that just over a trillion ?

"For what it's worth my guess on near future events is a AEX merger with WEN"

i guess we can throw (M&P) the operator of the Mnazi Bay gas field into the mix of suitable partners .

"So how is that any different from the position that has existed for the last three years BG"

Crusty, the difference is in your statement, in those 3 years gas demand has and continual to grow, and exporting gas is in the pipe-line, so we might think nothing has changed when in fact they have, and i'm pretty sure a lot is going on in the back ground, and we know the old SS plant is at capacity and the Ntorya gas will fill the southern TPDC gas processing plant of 210mmcfd, whilst their new SS gas plant is all but lying idle with no gas to fill it. and this in the face of the future gas growth. so yes things have changed. i think

the reason i say, it is in the TPDC interest to see the Nyuni/KN license progressed, is because of their new 140 mmcfd gas processing plant, where at present, only 20-30 mmcf is being processed, supplied by Orca from the Songo Songo gas field, all other gas from the gas field goes through the OLD Songo Songo plant which is now being upgraded to process 100mmsfd. that should serve all what the field can deliver. so for the TPDC to fill the new gas plant they are reliant on close proximity exploration/new discovery's ie; Nyuni/KN.

"The art here for AEX Highyield is "operating" capital - an income stream or cash on the balance sheet"

yes, if WEN can get a (price valuation) agreement with AEX, but the same applies to SCIR, and we know, that depending on circumstances every thing has its price.

once the Nyuni license and work-program is approved then AEX well have to fund 100% of that work-program which entail a lot of 3D, that will have a considerable cost, how much ? they haven't said yet, but must be $millions. so why would they throw so much at Nyuni if they weren't confidant it can be funded.

oh, and sorry bucklerfern for me posting, might i suggest you ignore it.

is. we have a good skilled negotiating team on the board now, and it is in the TPDC interest to see the Nyuni/KN license progressed.

i dont see a AEX merger with WEN either Maybe WEN and SCIR if the price is right, and i don't think we will hear anything re; the AEX marriage until the TPDC/Gov grants the Nyuni license extension and the WORK-PROGRAM is announced, then hopefully we will get to hear of our marriage partner.

O dear buckler, i'm sorry you feel like that, well you can't please them all.

i'll take that as a no then bf, thanks

yes i'm inclined to agree buckler, no point in spending money on a drill and then have it plugged up for a couple of years. when you say there is "something afoot corporate wise with AEX" is that just what we are all surmising or have you heard something more specific.

so what are you implying RoJo, that with all of the de-risking of the (license being granted and farm-out completed, with the work-program known/summitted) we should all now sell our shares ? hmm, you sell if you want to RoJo, but seems (with SP where it is) a little bit illogical to me.

from their 25 February 2020 RNS, states the 3D AND CH-1 was $40million (gross) so i guess $23 mil for the 3D sounds about right

"Assuming that approvals under the JOA and PSA are granted, the firm budget will then include the drilling of the Chikumbi-1 well and the acquisition of an extensive 3D and 2D seismic survey. The total value of the contingent elements proposed to be reclassified to firm is currently budgeted at approximately US$40million (gross), for which Aminex would be fully carried. The proposed 3D seismic survey, expected to cover approximately 500 km², would be the first onshore 3D seismic programme undertaken in Tanzania."