Member Info for cperkin

The drill has two parts to it or two horizons Steve, it a multi layer drill.

1.0 An appraisal of the so far discovered and appraised 763 Billion Cubic Feet 2C - will they increase this number from this layer? I expect so myself.

2.0 An Exploration of the deeper and previously undrilled Jurassic - Target size given is 1 TCF although I believe the search for the oil west and up-dip should also be considered as the target as per Mike Rego & the oil in the cuttings at NT-1 & 2

The published Aminex cost was $15 million although it depends on what terms the Zubairs agree over the rig, including the duration and number of wells the Zubairs would like to drill back to back.

Solo Bod say fully funded so I assume it has been discussed?

reinforces the Bullish AEX RNS.

"This is clearly a positive update for Solo and its Ruvuma JV Partners and moves us a step closer to realising the core value of our material interest in this high quality asset. The positive movements in Tanzania referenced by Aminex and ARA enhance our confidence that the development licence extension will be forthcoming, enabling the JV Partners to recommence operational activity on the licence in the form of the much anticipated Chikumbi-1 well for which we are fully funded. We look forward to further updates from our partners in due course."

Nice response from solo via RNS and reinforces the Bullish AEX RNS.

"This is clearly a positive update for Solo and its Ruvuma JV Partners and moves us a step closer to realising the core value of our material interest in this high quality asset. The positive movements in Tanzania referenced by Aminex and ARA enhance our confidence that the development licence extension will be forthcoming, enabling the JV Partners to recommence operational activity on the licence in the form of the much anticipated Chikumbi-1 well for which we are fully funded. We look forward to further updates from our partners in due course."

https://www.lse.co.uk/rns/SOLO/ruvuma-update-8bstyw9xzy7hhdj.html

Still 10/10 for the improved writing style, use of English and the use of punctuation, it's like a different poster posting Frank J

Excellent news for Aminex this morning who tell the market that all conditions precedent within the control of Aminex and ARA have been satisfied and the companies have seen signs of the Government ‘actively’ resolving several long-standing issues with other operators in-country. Even better news for Aminex is that ARA have agreed to bring forward the $3m advance in installments ahead of completion of the farm-out which provides much needed flexibility to Aminex. The second tranche of $2m, initially due 180 days after the completion will now be paid on completion.
Aminex and ARA have had a number of meetings with the Tanzanian Government recently and they are reasonably confident that farm-out consent and payment might come quite soon. It has also been noted recently that neighbouring country Governments have been reaching out to Tanzania looking for the supply of gas which has been an important part of Tanzania’s state of mind.
I conclude that it would be unlikely to see ARA putting $3m into the pot if they didnt have the confidence that this deal is at long last about to get done, accordingly I am starting to get genuinely excited that the long wait by Aminex shareholders might just be coming to its end with the next stage of the process looming.
Solo Oil
As a modest footnote it should be worth noting that there is a positive read through for Solo in this process although they are clearly gearing up the rest of their business to minimise Tanzania although it would be a big plus.
https://www.malcysblog.com/2019/09/hurricane-rockrose-aminex-solo-serica/

Fari enough, an early spud gets my juices flowing.

“"We are encouraged by the ongoing discussions with the Tanzanian authorities to be able to accelerate the planning for the early spud of the Chikumbi-1 well”

AEX +22.5%

We most certainly will trrime, I must confess you are sounding a little like you are caught the wrong side of a trade, hope thats not the case.

AEX + 17% thus far.

Market likes it, AEX + 15% so far.

Solo has made another announcement this morning as it ‘strengthens the team with the appointment of an experienced CFO – Mrs Romina Mele-Cornish,and equally as experienced Doug Rycroft as COO’. Doug Rycroft is currently General Manager on secondment from Gneiss Energy so is already fully up to speed with the significant progress that has been made recently at Solo whilst Mrs Mele Cornish has an outstanding record in the oil sector.
These string of releases in recent weeks make me think that Solo might be gearing up for something big, after all these are all the essential building blocks for a company much bigger than is at present. I have had a number of requests from shareholders on social media in recent weeks wondering if anything was ever going to happen at Solo after the tumultuous launch some months ago, these snippets make me think that they should stay on for the ride, I can’t imagine that nothing is going to happen now, as promised then.

https://www.malcysblog.com/2019/09/solo-oil-amerisur-resources/

$ 3million cash seems pretty Tangible to me

Hi steve, people can read it and interpret it how they like.

For me it reads very positively, you don't prepare to drill if you don't think you are getting a licence anytime soon and the Zubairs are handing over $3 million now - why would that be?

You might want to add this steve

“the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out”

And I don't expect they are accelerating drill operations if they are not expecting the licence soon.

Fits nicely with the solo appointments announced yesterday - deal and drill ready.

Licence soon & end December spud looking more likely?

minex is pleased to announce that all the conditions precedent within the control of Aminex and ARA Petroleum LLC ("ARA") detailed in the Ruvuma farm-out agreement ("Farm-Out") have been satisfied. The Company and ARA have seen positive movements in Tanzania with the government actively resolving several long-standing issues with other operators in country. These positive movements provide confidence to the Company and ARA who are now prepared to further advance certain pre-drilling operations for the Chikumbi-1 well. The Company and ARA will advance works so that drilling of the well can commence as soon as practicable following the satisfaction of the remaining conditions precedent, which are the granting of the Mtwara licence extension and government approval for the transfer of interest and operatorship. Furthermore, Aminex is pleased to announce:
· Aminex and ARA have signed a binding heads of terms, whereby ARA has agreed to provide a $3 million advance in instalments to the Company, ahead of Completion of the Farm-Out ("Advance"), which provides the Company with financial flexibility pending Completion. The parties will agree and sign a fully termed agreement as soon as possible;

https://www.lse.co.uk/rns/AEX/ruvuma-farm-out-update-and-acceleration-of-drilling-bflse1bukuazcay.html

Bod own around 8% and will not be able to buy if in deal negotiations for asset.

Looks like they are deal and drill ready from a management standpoint.

As quack-ers as it might sound Mousey ;0) any drilling would be great to see here duck, ducks or duck not.

No idea if they will be there vike, you would of thought they might start using Twitter to communicate interesting and non price sensitive info like that....if only.

I am expecting the Gov to announce conclusion of the terms with the majors and signing of the deal for the $30 billion LNG project. I expect this will clear the way for the terms of the licence extensions that the other companies like AEX and SOLO are waiting for.

Hi Mousey, looking better and about to improve significantly thanks :)

Sad to see the SP here, the Geology looks sound, need the duck to line up and get drilling!

Good luck and -.-. --- -- . / --- -. / .- --- --- --. -.-.--

.... .. -- --- ..- ... . -.-- = Hi Mousey

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Think you might have Max wrong Frank, unless he knows something we don't and the licence was issued in March this year ;)