Member Info for blackgold00

Robert Ambrose did say, i think in the half year audio Q/A, the CH-1 well would spud end/beginning next year, providing the F/O had completed soon'ish, obviously it didn't. i the only one that heard that ?

edgar, though in saying that, reading RNS, they do plan in 2021 for "negotiations of the commercial terms for the development licence "and "to submit the FFD before the end of 2022" so maybe not such a large gap between wells ?

"The work programme and budget for 2020/2021 anticipates a gross JV expenditure of approximately $23 million, for which Aminex is fully carried for its 25% interest, and is expected to see the acquisition of the 3D seismic, pre-spud activities for the Chikumbi-1 well, (negotiations of the commercial terms for the development licence), and the application for a further 1-year licence extension. APT plans to spud the Chikumbi-1 well in Q1 2022 and to submit the FFD before the end of 2022."

thinking the same, but there would need to be a pause in drilling, after CH-1 and before the next well, the 3D interpretation might be known by then, but the development plan needs to be granted which is not being summitted until the end of 2022 ? Maybe they are still planning to share the rig after CH-1 and before development starts proper, as they have stated before.

" Aminex should not give anything away just for WEN's production when we have a carry to better production."

yes agree, we need funding in the short term, to get us to Ntorya production

but for how much cperkin ?

"Surely it is in their interest for AEX to go to the wall? Then they receive AEX's 25% "

well they already own 30% of that through their holding in AEX, plus they would lose all their interest in the KN development license and the Nyuni, where on both license an interesting 3D work program has been planed is awaiting approval from the TPDC, no, i think that is where are next bit of news is coming from, so why would Zubair want to give up that, makes no sense

but why would they have an issue with it?

only if it was given away too cheap. i don't see Aminex being i such a desperate situation as some here are thinking, all the time the Zubair's have their interest to look after, as it as their interest is our interest.

"If AEX are to jump into bed with their "sugar daddy" they will have to offer something in return - whatever that is will equate to a dilution in AEX shareholder value....."

well, i wonder what the Zubair's are thinking of Aminex, who hold a 30% interest and have total control of the board, would they like to see Aminex (sell out/dilute/farm-out/give away ) half of their share of Ntorya? i dont think so, its not like the Zubair's are desperate for funds is it.

Crusty, i guess the Farm-out took just to long to complete. and yes i'm not a happy chappy at the mo

"APT plans to spud the Chikumbi-1 well in Q1 2022 and to submit the FFD before the end of 2022."

you'll all feel a lot happier in 6 months time, and with them having sight of the 3D results, drilling CH-1 will be a lot less risky

"APT plans to spud the Chikumbi-1 well in Q1 2022 and to submit the FFD before the end of 2022."

you'll all feel a lot happier in 6 months time, with sight of the 3D, drilling CH-1 will be a lot less risky

whats another year, at lest they will get the chance to study the 3D before spuding

"BG, it was pretty clearly "in view" in 2017"

Crusty, let it go, no one is saying all hail BH, and of course we were all disappointed with the gas drying up at KN-1, due to what is now known of compartmentalization of the reservoir. and as for the back to back drilling, there was no need for it after the large quantities of gas that was discovered by NT-2, it was obvious that enough gas of the Ntorya prospect had been proved up for them to apply for a development license, which they did. Plus, who in their right mind after the high pressured experience of NT-2 would had then carried on and drilled NT-3/CH-1 with the same (under spec) Caroil-2 drilling rig? and especially as they were/are expecting CH-1 to have an even larger pay-zone.

Anyway my (clearer view) was mainly referring to the progressed Government PSA review, license extension/farm-out and the general gas demand growth in Tanzania, that has now brought the monetization of Aminex's Ntorya gas discovery a lot closer.

yes agree minnabo, Don’t look back in anger...., Aminex is a totally different vehicle, with a new well connected Board, who's prospects that have now matured to a point, that what once, laid around that corner, is now clearly coming into view.

Crusty, just read RNS 11th Jan 2017, i agree PT was selling into the NT-2 drilling/results

Crusty, i'm 90% in agreement, sorry that i picked up on a perceived inaccuracy that i agree is insignificant. the only thing i would say regards your last comment " neither of them "paid" much at all for their shares except by handing over their ownership of Canyon O&G to AEX - which was subsequently deemed to have no value at all! (Another fantastic venture completed BH" which i totally agree with, except, that Aminex at that time was at an all time low, with the US$8 million loan facility with the fund managed by Argo Capital "The loan facility carries a 12.5% coupon (rising to 15% per cent from 1 July 2013) and is repayable by 30 June 2014. It is secured by fixed and floating charges over the group's assets." to say the least BH was between a rock and a hard place. Crusty, we are where we are, and if BH hadn't done the deal with JB and PT when he did then who knows where we would be now ??

the date of that RNS is 9th march is a day after the well test results on 08 March 2017 i believe the share price at the time was had declined to 5p.

https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Successful-Ntorya-2-Well-Test/74039039

Crusty, i'm pretty sure, i think you'll find, Phil Thompson was not selling his share holding, on the way up to 7p( the spud and test results of NT-2) but didn't start selling until after farm-out announcement, (which i guess he didn't agree with) when share price was at 5p approx. he then continued selling on the way down.

hardnose, apart from the soothing words to Robbie, have you got any sound advice for Robbie regarding buying shares, especially (small caps) oil/gas ? like, only investing amounts of money that, 1. you can afford to leave and wait for developments to happen if you have to. 2. and ultimately if thing don't work out and you lose, it wont break your bank.

Aminex are expecting the Nyuni PSA extension and it's proposed (3D) work programme to be approved soon. Aminex are the operator of the Nyuni PSA and own 100% of the license, they are proposing a considerable 3D for Nyuni and in the north i believe they are going to cover, (what was called) the Pandi west prospect, that was first identified by Ophir using 3D, a large prospect that extended from their license into into the Nyuni. big plans i think, looking forward to hearing wedding bells ?
slide 8
http://admin.aminex-plc.com/uploadfiles/Aminex%20AGM%202019%20as%20presented.pdf

half year report
(Kiliwani North and Kiliwani South – Kiliwani North Development Licence (“KNDL”)
"As previously advised, the Company has identified the Kiliwani South prospect, estimated by management to
contain a mean 57 BCF un-risked GIIP. The prospect has been reviewed by RPS Energy Consultants Limited
(“RPS”) in their February 2018 CPR. Kiliwani South is accounted for as an exploration and evaluation asset."

"In preparation for acquiring 3D seismic over the licenced acreage, generally comprising the shallow-water areas
adjacent to Songo Songo Island, Aminex has completed, in 2019, the reprocessing of select 2D seismic data and
has incorporated the results into a remapping exercise which confirmed the interpretation of compartments in
Kiliwani North and the robustness of the Kiliwani South structure. 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”). "

Nyuni Area PSA
"In July 2019, Aminex submitted an application to the TPDC to enter the Second Extension Period of three years
together with a request for an amendment to the work programme obligation for the licence area. If successful, it
is expected that the number of blocks retained under the licence will reduce to five, from the current ten blocks
under licence. "
"The proposed amended work programme and associated commitment is being supported by the
TPDC. 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 which will require
the acquisition of 3D seismic to move shallow water targets to drill ready status."