Member Info for cperkin

Exactly GL, real news. Not sure how long the tender will be open for, a month? Or when they will realistically start work post tender (hopefully quickly) But I do know that some of the good posters here will be completely on top of the news via the normal Tanz sources:)

Exactly RJ, seems there are two main items to keep an eye out for.

1.0 The TPDC starting the pipeline

2.0 M&P progressing with the Rig and drilling.

Once these two are underway then the countdown of a few months can begin.

Actual info provided by M&P was

Preparations for the drilling of two production wells and one exploration well on the Mnazi Bay permit by early 2025  Well maintenance operations planned for June and July 2024

In the last AGM doc M&P were due to drill 2 development wells in Tanzania by 2025

Understood and many thanks for the clear update from the AGM Ufufuo, much appreciated.

Thank you all for the AGM updates. It was disappointing not to see any timelines confirmed in the AGM presentation, maybe my expectations were out of sync with everyone else?

Lots of gaps filled, just need to see some action followed up in an RNS.

@ Ufufuo, Crusty also explained that there ill not be a CPR (Something we were all waiting for and expecting around now) Can you also confirm this?

Interesting indeed! Yes BG, the SCIR board were hopeless.

Indeed, I got out as soon as they were selling the asset to the Zubairs for even less than Aminex did!

Anyway BG, appreciate any updates you get back from the BOD or Knights.

Thanks!

@ StockCheque, "Why don't you just wait for ARA to TELL you when it's all going to happen"

Well I could do that , but they have been telling us they were going to drill every year for the last few years so my guess seems about as good as theirs!!!

Anyway, lets see what you & BG get back from the official sources....

It's seems that since ARA are the operator, clean news flow has diminished massively with of course no real thought to AEX and the market. A revised CPR is not really needed now till post Ch1 and production, I would expect to see one around this time next year.

As for the list of items, I agree they are all required and the last page of the presentation lists,

Multiple significant near-term share value inflection points on Ntorya development:

1. construction of pipeline from Ntorya to Madimba

2. tie in of NT-2 for production

3. drilling of CH-1 in new optimal location

4. testing of CH-1 and completion

5. recompletion of NT-1 following work-over

6. revenue from first gas production

The doubt now is when are these going to happen, post pipeline start and for CH1 post NT2 tie in for production. I am not expecting a CH1 drill till 2025 now :(

Many thanks Crusty. So we await NT2 CO2 test for now and pipeline commencement before we get any material news.

Thanks Crusty, so no new CPR at this stage, in which case we take the ARA internal estimates for now.

Crusty, Roger or anyone else that was at the AGM

Did you get any details on the NT-2 well test, is this purely gas sampling and CO2 testing or will it be flowed for an extended period? I am trying to work out how news worthy it will be as it is not even listed at the end of the presentation under "Multiple significant near-term share value inflection points on Ntorya development:"?

Is this a commercial find? be answered with the drill bit and Extended testing.

We await Mobilisation.

GLA

Thanks CP and RJ, so pretty much seems to agree with my post/thoughts yesterday, no major action till the pipeline is in progress.

It is a relatively short pipeline @35Km. Did anyone give an estimate of the amount of time to lay it yesterday? I was guessing 3 months?

Will do, prob tomorrow Crusty, and thanks for the AGM feedback.

Well I was disappointed with the lack of firm timelines today, what they delivered was very broad. Seems to me that ARA maybe waiting for pipeline construction to start before launching development? Would seem sensible I guess.

Good new is that the BOD are still happy with the Funding facility to meet running costs to first gas, carry + loan.

When it gets into gear it should be a very good run.

Well each to their own, as a shareholder I expected an updated presentation, including the development plan.

Agreed Edgar, we should be expecting the 25 year development plan that was licence was awarded on and the time line for development ops

The first spud date will be the event that moves the needle in Q3 with the second spud not far behind.

I think the most likely buy out if any, would be the Zubair corporation via ARA Petroleum. They only need to buy another 1% odd in the open market to take them over 30% and initiate a reverse takeover.

How likely that is I have no clue, but it is always good to keep in mind a buy out value for the asset you partly own and the minimum you would except.

As for tomorrow, we need some meat on the bones in terms of timelines for readying the 2 existing wells for production, the drilling of the 3rd well, pipeline and CPR