Member Info for cperkin

Should see some info on the below in terms of development timelines/next steps, as per 1,2 3 &4 below.

The 25-year Development licence - Awarded

Gas sales agreement - Concluded

Size of the prize

3D Seismic was completed over 338 km2.

The 3D dataset has revealed, for the first time, considerable undrilled exploration potential within the broader licence area.

The new volumetric studies result in a total updated unrisked GIIP volume for the Mtwara Licence of 16.38 Tcf

Next Steps, note: 2 drills have already been successfully completed over the discovery. News expected on re-entry/work over mobilisation very soon

1.0 Re-enter and repair a tubular leak in NT-1 to enable the well to be safely completed as a gas producer.

2.0 Undertake further testing on NT-2, currently suspended as a gas producer, using a mobile test unit, to refine the design of in-field gas processing facilities.

3.0 Contract a rig operator to undertake the drilling of the CH-1 appraisal well to further derisk the asset and, if successful, complete as a gas producer.

4.0 Publish of updated independent CPR – expected soon.

Note: In Tandem the Taz Gov are building a gas pipeline to a nearby gas processing facility with sufficient spare capacity.

What about Funding?

Fully funded to production.

AEX previously farmed out the asset to a division of the Omani Zubair corporation.

AEX is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya field at zero cost to the Company.

AEX have a small loan agreed with the Operator (The facility is for $3 million, available for up to 24 months) to cover any G&A costs between now and expected production Mid 2024

That comes with a spud date I guess, NT1 & 2 to sort for production first?

Thanks in advance to the AGM-ers whom I hope will keep us updated on Thursday.

About to get underway.

GLA

Drilling and testing about commence.

GLA

Have fun!

Highlights

· Acquisition of a discovery with previously identified helium: Domal anticline with helium gas up to 1.3% Helium ("He") flowed to surface from two wells drilled adjacent to the Rudyard Project

· Contingent Resources1: of 484,000Mcf (0.48Bcf) He gross with in-situ value of >$250 million at helium price of $550/Mcf

· Additional upside: in untested Dry Creek Formation within the Rudyard Project

· Low acquisition cost: of $250k paid as $100k in cash and $150k in shares with an additional equity issue as introducer fee

· Expanded portfolio: Rudyard compliments the Company's Ingomar Dome Project with additional low-risk resources and second potential future production hub

· Existing infrastructure: assists low-cost development into commercial production

· Fully funded Q3 2024 appraisal drilling: rig and services will move to Rudyard immediately after completion of drilling at Ingomar Dome in Q3 2024

I completely agree Crusty, if posters here are telling us that they took the placing and have been given information that is not in the public domain and not available to all retail investors and this information is price sensitive then it is a clear breach of the regulation, never mind that its is just plainly wrong. Of course the Posters who have posted this statement may well just be lying. It's up to the company to be now be clear on this.

This could well smash 1p much quicker than I was expecting.....

"We are on track to commence the EWT early in Q3 and have commenced the mobilisation of equipment required to perform this work. The rig is currently hot stacked on the Itumbula West-1 well pad, where the well has been cased and suspended and to enable a quick re-entry. We plan to deepen the well by a further 100m-150m to intersect more fractures within the shallow section of Basement, prior to commencing the important phase of testing."

I am not suggesting that this will go up in a straight line over the next few sessions but I fully expect this to be over 1p before the next news drops.

Placing was for  1,600,000,000

Share volume last four days 2,279,379,369

The plonker has been de-ramping since 0.45p So absolutely 0 credibility... Must be Led by Donkeys or maybe just those that eat them ;)

Agreed Crusty, basic value based on your calculation = 0.9 to 0.95p I would expect to see over 1p by the time EWT is announced.

GL

They have been forward selling in 1 million + blocks, since at least since last Friday....

Vol. Sold 781,912,992

Sold Value £4.58m

Vol. Bought 946,476,686

Bought Value £5.58m

GLA

Yes Crusty I joined you and bought some at a similar price with the same expectation as you.

GLA

Just providing some balance :)

Once the flip flop and profits from HE1 return in the next few days & before the AGM ;)

The 25-year Development has been awarded. This allows development production & sales of gas for the next 25 years over the 338 km2 licence area. The largest onshore gas discovery in East Africa

Size of the prize

3D Seismic was completed over 338 km2.

The 3D dataset has revealed, for the first time, considerable undrilled exploration potential within the broader licence area.

The new volumetric studies result in a total updated unrisked GIIP volume for the Mtwara Licence of 16.38 Tcf

Next Steps, note: 2 drills have already been successfully completed over the discovery. News expected on re-entry/work over mobilisation very soon

1.0 Re-enter and repair a tubular leak in NT-1 to enable the well to be safely completed as a gas producer.

2.0 Undertake further testing on NT-2, currently suspended as a gas producer, using a mobile test unit, to refine the design of in-field gas processing facilities.

3.0 Contract a rig operator to undertake the drilling of the CH-1 appraisal well to further derisk the asset and, if successful, complete as a gas producer.

4.0 Publish of updated independent CPR – expected soon.

Note: In Tandem the Taz Gov are building a gas pipeline to a nearby gas processing facility with sufficient spare capacity.

What about Funding?

Fully funded to production.

AEX previously farmed out the asset to a division of the Omani Zubair corporation.

AEX is carried throughout the ongoing work programme to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the Company through to the commencement of commercial gas production from the Ntorya field at zero cost to the Company.

AEX have a small loan agreed with the Operator (The facility is for $3 million, available for up to 24 months) to cover any G&A costs between now and expected production Mid 2024

Agreed, the only one that beat it was a previous HE1 placing at over 90% discount. Yes I believe some of the shares are already forward sold (Small %) as the volume increased around 4 fold Friday and Monday compared to previous week. I expect to see more forward selling.

GL