Member Info for cperkin

Looks like our friend in country is catching up with news.

"Another good News in the Oil & Gas Sector in Tanzania as #Solo Oil Plc, an Oil & Gas Investment company listed on the London Stock Exchange (AEX) has recently received their Mtwara Exploration Licence from the Ministry of Energy. Congrats to the Gov and investors"

https://twitter.com/abdulsamadz/status/1260224327779319817

Our friend in Country seems buoyant...

"Absolutely. This extension is incredibly encouraging as the asset is strategically and economically important for the country and value that can now be unlocked as a result of this extension, particularly where there is substantial regional demand for natural gas here"

https://twitter.com/abdulsamadz/status/1260218568404279296

"Absolutely. This extension is incredibly encouraging as the asset is strategically and economically important for the country and value that can now be unlocked as a result of this extension, particularly where there is substantial regional demand for natural gas here"

Worth reading the full thread.

https://twitter.com/abdulsamadz/status/1260218568404279296

With Tanzania you never really know Nelly for sure but I would guess within the next 7 to 14 days, but a guess is all it is.

Just waiting for the cheque for $2.2 mill to clear I should imagine Nelly, no point issuing the licence and then not approving the farmout imo.

I think its a fair proposition, the risk of a drill that is appraising the Ntorya gas discovery for the second time with the potential increase in the resource value, the 2nd drill increased gross by 12 times and then their is the lower Jurassic with an estimate of another TCF of gas and or the oil they have been searching for all along. I don't think a 5 to 10 fold increase in resource value is out of the question at all. So take circa $20 million now or spend $10 and get a $50 to $100 million valuation v $20 today.

Hi hex, a premium would be good as the rate paid to Aminex only covered the Exploration and appraisal costs, so all that risk taken and cost's recovered only in cash equivalent terms. One thing is likely if the sale wait till post C1, then I would expect any buyer to have to pay a huge premium to todays price.

Hi Tanzania, it's from earlier this year and Ufufuo has been invested here for many, many years and it probably one of the larger pi holders. :)

You can sell @ higher than the SP, never mind the BID, so the spread and SP reported is bull.

Thanks FL, drilling sometime in the second half of 2020....lets see.

Thanks BG so the Jurassic previously drilled with oil and gas shows but not in the current Ntorya licence area?

How long does a $2.2 mill cheque take to cash?

The Jurassic has a very low Geological COS as it's never been drilled on-shore as far as I know? NT-2 oil in the cuttings fits with the theory of hotel traps west and up-dip and C1 might deliver that elusive oil. Either way a double target drill in two Geological layers with one being gas appraisal is exciting.

Hope that cheque clears and they have progressed the preparation for spud.

Duran Duran were not in Barbarell Rojo, Durand Durand would be pointing his Positronic Ray at you for that one.

Hi Tanzania, we can only wait and see, I expect the Gov will take a little more than they did before but till the PSA terms are published and the GSA complete we will not know.

Time to dust down my Durand Durand outfit then GL ;)

sorry … or oil that should say.

Exactly Froglegs, then need to understand what they have in C1 both the cretaceous appraisal and the deeper Jurassic, another TCF as per the presentation of gas or Oil?

They Omanis did originally say 25 year development licence but then changed their minds for the farmout, C1 drill and 3D seismic. I guess they see the expenditure as low risk and the 25 year development licence a formality?

Not sure what you mean steve? the Aminex Zubair farm-out was dependent on the Licence extension that has just been issued, allowing the farm-out & C1 drill to go ahead. The 25 year development licence allows production from the complete field and the drilling of a further 5 wells as it stands.

Aw GL, I thought sure it was Tiptop. Well another memory error for me along with the fact it was Jules and not Drewky that attended the com's bod meetings.....oh it was all so many years ago!