Member Info for cperkin

That the Zubairs will walk away if the Gov say, let us get our election out the way and then we will see to your Farm-out? Will the 15th be the final curtain or simply the encore?

My belief, as posted many times before is that they appear to have little to offer other than wait for the Ruvuma Farmout conclusion.
We should know within the next 2 weeks with the 15th October deadline set by the Zubiar corp and I expect that will be the catalyst for name change and sale of solos 25% or part of.

Well art, Aminex already have been issued the extension licence and the current producers are being paid on time and have been all year, see Orca and WEN half year reports.

Maybe they smoked it all?

I assume, sometime post the 15th October FO decision and SCIR OT2, but only my opinion, no one here knows for sure.

Morning steve, we will juts have to wait and see. The JV still own the licence over the gas basin, but they will be right back to where they were 3 years ago after the NT-2 drill if the AEX/Zubair FO does not complete and with the Zubairs still owning almost 30% of AEX other options might be considered by them.

Well they have tried doing nothing other than what the Government ask for the last 3 years, a change of tact might bring results I suppose.

Only couple of weeks max of BB posts and various arguments before we find out ;0)

Not far off jagergard, boredom that is led by limited to non existent near term drilling upside. The stock market moves (where real money can be made) is mostly driven by sentiment that depends on a story, particularly @ this end of the market.
WEN are in a good position right now but need to diversify and build a story imo.

True dunder but what an investment advert for Tanzania.

I might need that Zubair donated ambulance over the next 2 weeks ;o)

Well if they don't sign it by the 15th I guess it wont go down well with the majors in relation to the gas export pipeline and or the FID for the $30 billion LNG project.

Tanzania would be surely considered a basket case and not investable.

Final extension to 15th October.

Aminex announces that the parties to the Ruvuma Farm-Out Agreement have, at Aminex's request, agreed to extend the long stop date for satisfaction of the remaining conditions to the Farm-Out from 30 September 2020 to 15 October 2020.

The Company notes that this is the ninth extension to the long stop date and has been advised by ARA Petroleum Tanzania Limited ("APT") that the long stop date will not be extended again. Consequently, if such Government approval is not obtained by 15 October 2020, APT will have the right to terminate the Farm-Out Agreement.

Boom or Bust on the 15th.

Aminex announces that the parties to the Ruvuma Farm-Out Agreement have, at Aminex's request, agreed to extend the long stop date for satisfaction of the remaining conditions to the Farm-Out from 30 September 2020 to 15 October 2020.

https://www.lse.co.uk/rns/AEX/ruvuma-farm-out-update-and-additional-funding-weyalni0nxq9oc5.html

+1 Crusty, the CH-1 drill potential upside V risk is very significant with further appraisal of the current gas discovery and that deeper additional TCF target.

Have to wait and see what deal is on the table post AEX FO.

Morning steve, completely agree. I was expecting the AEX RNS at 07:00, surprised they have not issued it yet?

Next questions post AEX/Zubair FO is who is buying solo's 25%, how much are they buying, all or part and or course for how much £££?

The Company has made significant progress on its Tanzanian asset sales process and extracting maximum value from the Ruvuma asset, which is key to delivering our broader strategy. The Company continues to await the completion of the Aminex / ARA Petroleum farmout ahead of the expected conclusion of its own process;

The Company has made significant progress on its Tanzanian asset sales process and extracting maximum value from the Ruvuma asset, which is key to delivering our broader strategy. The Company continues to await the completion of the Aminex / ARA Petroleum farmout ahead of the expected conclusion of its own process;

AF was already in place and JF & already bought his then large stake in the company, Mailing was promoted by AF and then subsequently...let go along with another of his South of the Equator buddies. 2018 shareholders meeting was the last time I met Mailing along with of course AF and JF.

Mailing did badly on that transactions for shares at a massively inflated price to todays UKOG SP, good job they dumped them quickly, Gusher my backside..... the only thing that gushed was the PR.

Yes Edgar at the full 140 MM/scfd =$40 Million (pending the new PSA terms) I was responding to Highland Matts $8 million for 40 MM/scfd when the presentation gave $12 Mill for 40MM/scfd, although under the new terms he might be closer, who knows?

AIM O&G is an expensive game, G&A could and should surely be reduced. However £11 Mill in the bank, probable drilling and production near term.

"$12 Mill PA at 40MMcfd of fully carried cash flow"
http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

Depends on the new PSA terms of course.