Member Info for cperkin

Hi Babel. We should have a much better idea on the licence once the Gov have completed the negotiations with Shell, Exxon, Equinor etc next month. Now to October is my idea for a deal but with 0 information outside of the strategy launch and the ARA it's impossible to put a finger on it, over to the BOD on that one!

I agree with Bucks and BG. In fact the contract review that has already been completed details most of the changes required for the PSA review. The Gov have set a deadline for this September for the main negotiations to be complete with Shell, Exxon, Equinor etc and I expect along with the completed contract review sets the framework for the PSA.

Who knows Froggy but a marginal field is exactly that, fine maybe at $100 a barrel, but at $70, $60, $50 or less?

My read on the Kiliwani remediations is,

1.0 Aminex are skint and have no money till the farmout is complete.
2.0 The PSA review does not impact the development licence rights but does impact the terms of production, taxes and royalties.

In conclusion I don't expect Kiliwani to progress till the licence is issued and the farmout complete as it provides the money to aminex + the terms of production and the Gov's cut.

If we don't hear soon then we will have to assume the sale has not gone ahead. Small potatoes anyway and they wont see any return on it unless they move it to production.
Bod deal and or licence are the main course, unfortunately the reef disposal is just a smudge on the menu in comparison.

Hi steve, no worries and if only it was linked to an asset acquisition, alas only a disposal with shares in the svp and a production royalty.

Hi steve, Froglegs posted the link some time ago.

In connection with the Letter Agreement, Reef and Levant have also executed a binding exclusivity agreement (the "Exclusivity Agreement") pursuant to which Reef has agreed not to enter into, directly or indirectly, any negotiations with respect to a commercial arrangement which is similar to or could reasonably expected to conflict with the Proposed Transaction, August 14, 2019.

https://www.marketscreener.com/news/Reef-Announces-Proposed-Transaction-with-Levant-Exploration-and-Production-Corp--28490368/

Ref Kej, got to be a shareholder anyway.

@Froggy, good point, the exclusivity agreement was till the 16th August, so last Friday. They can of course extend or close.

People often think the AGM will reveal something special, it is just a date though and anything material would have to be released via RNS and should not be held back. Not saying it won't, Aminex managed to announce the farmout deal on the day of their AGM so you never know for sure.
Anytime from 07:00 tomorrow to October is my target for a deal, my concern is that a deal and the licence come within days or only a few weeks of each other. Ideally I don't want suspension or even one on top of the other.

Seems that way.

Poor old Dawn, she takes all the flak, still it did this last week and finished flat before 5 straight days of rises.

Either way it ends up, wait for the end of day numbers.

Take it how you like Kejoglo, it's my opinion and it's about the share. Of course all you seem able to do is ***** about other people.

Says a lot more about you than me. Anyway how about the question you keep running away from, how long have you known about the PSA review?

All good thx Frank, even better once the sidetrack bit gets spinning.

2.27p

Maybe steve, no drilling there till end 2020/2021 it seems, they keep moving the date out further and further, Ntorya and it's current 32 million barrels to solo could well be in production by then.

6 to 8 months for a deal imo and after speaking to someone in the industry, they started in March so now to October would seem a fair expectation on deal delivery.

Think they should extend the data to October 3rd, only a few days and in line with when The Minister of Energy Dr Medard Kalemani to give updates on project plans

Interesting little piece in the New Scientist last week by Chris Ballentine from Oxford University talking about the Rukwa discovery. The interesting bit being that the study completed by Oxford university and used by Helium one was largely funded by Equinor, formally known as Statoil.

https://www.malcysblog.com/2019/08/oil-price-aminex-solo-predator-and-finally/

https://www.malcysblog.com/2019/08/oil-price-aminex-solo-predator-and-finally/

"rotting marine creatures of all descriptions"

Why yes of course, depending on which Geological formation you are looking at, but that is where Oil and Gas can be found.
I don't see why anyone should associate the new Bod with some underhand fraud as is being suggested by some, there is certainly 0 evidence I see being produced, just some vague suggestion that waiting for a GOV PSA review that is impacting all O&G companies in Tanzania is somehow linked to the Board of solo. If only they wielded such power!

The Bod need to deliver on their deal, I expect 6 to 8 months from strategy announcement so anytime from today and September/ October.

As for the licence I think everyone is well aware now of the PSA review and the next steps, staring with the Super majors/majors concluding next month which of course brings us back to how long have you known about the PSA negotiations Kejoglo?