Member Info for cperkin

Translates to, they are all earning their wedge in the market one way or another and have not made a fortune yet themselves.

RNS with flow rates is all that counts. Sometime this week, & most probably before mid week imo.

GL

Small cap is awash with "commentators" who if they were all so brilliant and did not have "their" need for an angle to earn a wedge would probably be sitting on a beach awash with cash and not writing Blogs on small caps. (Not Malcy specific)

Plenty of opportunities between now and the drill results I expect.

I agree OG, in theory the renewal should be automatic now the contract and PSA reviews are completed. I don't see the point of selling before the CH-1 drill unless an offer is so good that enough of the large holders will vote for it.

Personally I am happy to wait till after the drill, its a relatively small expenditure with an upside ratio far above spend.

OSLO - Equinor has decided to write down the book value of its Tanzania LNG project (TLNG) on the company’s balance sheet by 982million USD. This will be reflected in adjusted earnings for EPI division in fourth quarter 2020 results to be reported on 10 February 2021.

https://www.worldoil.com/news/2021/1/29/equinor-writes-off-its-tanzania-lng-project?utm_source=hootsuite&utm_medium=&utm_term=&utm_content=&utm_campaign=

lol steve, could have been mine, although I need to put on a little weight and grow a big beard before I impersonate Malcy ;0

Hi steve, indeed. I don't see much point in getting into AEX much before the spud of CH-1, unless it falls below 0.4 and then I might start building a position.

The com's from the BOD here are next to useless in terms of confirming their position, the only good point they make is that they will happily hold through the drill on Ruvuma if no decent offer before.

What they are doing the rest of the time if anything is any ones guess.

"I have followed and supported Aminex for a very long time, indeed as some people said for a good deal longer than I should have. In December, when compiling the new Bucket List I decided that enough was enough and that given there would be no drilling until at least 2022 the best way to play Ruvuma would be via Scirocco."

https://www.malcysblog.com/2021/01/oil-price-zephyr-aminex-and-finally/

Good to know you are well. I don't expect much change whilst they have a licence in hand, if no extension forth coming in April then I would agree on a drift between 0.4 and 0.7, depending on the wait.

Hi OG, hope you are keeping well.

Oh no I was not suggesting that it was a milestone for any sale, only that nothing in terms of activity, ie the 3D will happen till the new extension is in place. In theory you are right it is a done deal but that was also the case last time with a subsequent 2.5 year wait. I understand that the road block has since been removed, but I count nothing as certain in Tanz in terms of timescales, once bitten and all that.

I think the return post C1 drill whilst waiting for the Zubairs to submit the FFD and 25 year development licence based on the 3D & Drill is the optimum sale point.

One of the key issues is that the asset value + the cost to production is beyond the capacity of most small AIM O&G at this stage V the risk.

All imo of course.

Afternoon steve. I still think they should take Ruvuma off the market till after theC1 drill in Jan next year. with any sale being multiples of the $20 million per 25% that AEX achieved but dependent on the 25 year development licence.

Meanwhile the wait continues as I don't see anything happening till after the licence extension due in April.

Meanwhile, plenty of other stocks to keep me occupied :)

What ever happened to colin (mrc/d) and holy? they had a lot to say the last few weeks but not a bean since.

Chart not looking so good, bumping along the consolidation line still, hey ho

Keep safe!

DD and finance deals for other AIM companies it seems steve.

To be fair, I don't expect to see such delays this time round although you can't rule it out, but now the contract review and PSA reviews are completed a FFD and GSA can be negotiated. In saying that the timing of the export gas pipeline + HV power distribution will likely set the pace.

Afternoon Colin. The 25 year development being the holy grail of course. Yes the appraisal licence extension for one year is required in April 21.

Mon, 23rd Nov 2020 07:00

"The JV has identified completion of the Full Field Development (FFD) plan as a primary and critical element required to progress the Ntorya project towards submission of an application for a 25-year development licence. A critical path in the project to develop the FFD and for making further investment decisions is to progress subsurface imaging of the internal reservoir"
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"

Of course an application was previously submitted by the then operator AEX based on a study completed by IO/Baker Hughes in 2017 based on a further 6 to 8 wells post CH1. The application never received any formal response as far as we are aware, best hope the Zubairs do better.

I don't expect the big lth holders would accept such a low ball offer as suggested by Thordons, it's less than shareholders have spent on the asset development to date. $10 mill for half would match the AEX deal that just concluded.

If no decent offer on the table by end of H2 then they might as well hold out and drill CH-1. I don't expect any further significant expenditure over the licence area till post the award of a 25 year development licence and then the value rockets.

https://www.rigzone.com/news/wire/biden_set_to_freeze_oil_leasing_on_federal_land-22-jan-2021-164404-article/?utm_source=GLOBAL_ENG&utm_medium=SM_TW&utm_campaign=FANS
President Joe Biden is poised to suspend the sale of oil and gas leases on federal land, which accounts for about 10% of U.S. supplies, according to four people familiar with the matter.

Would be good to see AA but like you say the BOD have gone so quiet on that front and not communicated if they have anything in the pipeline at all. At the time of the 1D deal they said they had 3 in the pipeline, but never mentioned it since.

I think end Q2 onwards it will start to get interesting with Ruvuma licence and H1 drilling. I am just not convince the BOD will deliver anything else before.

Completely agree AA. Unfortunately I don't see much happening here for the next few months. The Helium-1 SP is likely to drift lower between now and until spud in around May/June and I don't expect anything to happen over the main asset Ruvuma with the licence running out in April, hope for a timely extension this time round!

Back to sleep for a few months.

GL

Talking about BOD Jam tomorrow steve! The BOD have hardly covered themselves in glory with such bold claims and 0 delivery to their targets, 5000 Boepd within 3 years and 20,000 within 5.

It will be interesting to see how quickly the extension licence comes when it runs out in April, the last one year extension was applied for in 2017 and delivered in 2020.