Member Info for colinski

Strange time to make directorate change just before sign off . Did they jump or were they pushed ? .

Can’t understand what hold up is if all conditions of farm out are supposedly met. Are they trying to freeze Aex out? They’ve certainly dead locked them at kilwani, nothing moving there with a gas sales agreement wasting away . I was expecting the zubs to have more of an influence . So why grant the licence if you don’t plan to approve farm out . It don’t make sense !

Where’s the benefit from all that ‘acceleration’ they’ve been pulling salaries for ? Maybe Q1 2021 is a true reflection on their efforts to date

In Feb 2019 they raised £1.87 million to accelerate Kilwani North , I’ve heard nothing since , GSA is wasting away . Do we still have the cash? Doubt it !

Majedie must be selling at a loss too ? Probably lost confidence in anything happening soon

Solo up 20% + again , Aex up 0% again. Solo now above 1.00p , Aex 0.5p . What’s going on?

The LNG projects may be a way off now as the case for investment may not be so attractive to the big boys with the gas price so low . Plus I feel they’ve lost trust in the government due to their antics of late. The fact still remains that the government still have to develop the home market to support economic growth and service the needs of the people and developing industry. . ARA/Aex full field development plans are ready to go , so the government will wake to that fact eventually ... let’s hope it’s 2020. It’s the only game in town !

https://www.ippmedia.com/en/features/tanzania%E2%80%99s-natural-gas-sector-%C2%A0elusive-economic-game-changer

https://www.petroleum-economist.com/articles/midstream-downstream/lng/2020/tanzania-s-lng-hopes-on-a-knife-edge

Kilwani is an embarrassment ....£1.8m raised to accelerate development last February .. no feedback. Kn1 gathering cob webs, gas sales agreement just wasting away and no resolution of monies owed by tanzanian government...

Last feb we raised 1.8million ........
The board of Aminex has taken the strategic decision to seek funds to accelerate development over its Kiliwani North Development Licence ("Kiliwani") and Nyuni Area PSA ("Nyuni") to take advantage of depressed market conditions in the service industry. The net proceeds of the Placing will finance the reprocessing of the existing 2D seismic, to plan for the acquisition of new 3D seismic and to transition Kiliwani South from a prospect to a drill ready target (management estimates of 57 billion cubic feet gas initially in place).

Maybe the acceleration made them giddy ??

Are we entering takeover territory? Any idea the price we could expect?

29 July 2019

AMINEX PLC
("Aminex" or "the Company")

Ruvuma Farm-Out Update

Further to the Company's announcement on 19 July 2019, Aminex announces that all parties to the Ruvuma farm-out agreement have agreed to extend the longstop date for completion of the transaction to 31 October 2019.

Hopefully RNS means that AEX will start to fly within next 15 weeks max. News could still drop anytime .

Yes your probably right cp... when they mentioned a low cost solution I had hope. They need government approval again even for that so we’re back to square one.

On kilwani , we already have a license and GSA in place. I would hope for a positive update as they have a chance to focus whilst we wait for the farmout to be completed e.g.

• Pending government approvals, the Company has designed a relatively low-cost remediation project to unload fluid from the well and attempt to re-establish flow to the Songo Songo gas processing facility
• Equipment has been identified in the region and plans are in place to mobilize once approvals are in place

Aminex never mentioned this timeline in the recent AGM did they? . Can’t understand the solo logic there as the comment is only going to self harm . They could have said end of year, but instead chose to say Ist half of 2020. If it’s true, with Kn1 stand off continuing, let’s hope farm out gets sorted soon as a further kick of the can could be a kick too far .

There was no mention of the compressor or perforation in the brief for Kn1 remediation. Clearly there’s a stand off ... the Tanzanians ain’t paying, so Aminex ain’t supplying until this is settled. No licence, no payments ... tanzania should encourage investment not strangle the company to death.. After all, they need the gas to meet demand..

Schlumberger can facilitate a slickline perforation. Aren’t they the guys who fixed the valve at KN1? So why couldn’t you request both be done same time? Let’s face it , the money which has been lost due to dithering., would support a case for sponsoring a Schlumberger team direct. Or am I missing something ?

From 7p to 1p with the same back to back drill never ending story. Now it’s chikumbi or bust! I never thought we’d be in this situation . More fool me!