Member Info for cperkin

Not worth the effort Frank, a dyslexic and someone on the autistic spectrum, amazing we can communicate at all ;) but yes I would be absolutely amazed and dumbfounded if no licence is issued to the JV, imagine the shock waves! Might as well stamp do not invest in Tanzania on their national flag.

Anyway whats so important about the 31st of October, you keep mentioning that date is there something specific supposed to happen, other than Brexit of course?

Blimey I must have missed all of that part of the conversation Frank. I have noticed your interpretation of events is always completely different from my own.

Anyway, news on the extension s expected around the 31st July and the Majors conclude negotiations (according to the Tanzanian Gov) in September. I agree though a week is a long time for a trader, but a small spec when it comes to O&G investments.

You might need to wait for the manipulative small trades to stop first Tanzania.

You might enjoy this if you have never listened to it Froggy. $27 Billion of Helium in the CPR

https://www.bbc.co.uk/sounds/play/w3cswgly

Good stuff and thanks for the links Froggy.

Among the areas that the GoT has given high priority in order to facilitate industrialisation include: (i) Provision of adequate electricity to all regional and district headquarters by connecting them to the national electricity grid (see Map 2). The supply of power to the grid will be increased and stabilised after connecting to the gas-to-electricity turbines in Dar-es-salaam and Mtwara and linking the country’s power system (including Ruvuma Region) to the Southern Africa Power Pool.

+ the 25 year development licence for parity Froggy :)

+1 stonefold

As a part of this process, it is expected that the special committee will engage with Swala Oil & Gas (Tanzania) plc ("Swala") related to its ongoing interest in acquiring the Company.

Dragging a bit that M&A

Thats the normal game these days Zib. The gap in production flow V test will be jumped on and hammered on the BB till they publish the stable and optimised flow rate in the weeks ahead post well clean up.

Interesting sea7, as Gneiss energy acted as the placing agent.

https://www.gneissenergy.com/gneiss-energy-acts-as-placing-agent-to-block-energy-plc-on-its-proposed-placing/

Thanks for the link Scratch & welcome back Jack(o), hope all is well!

Great post steve.

That and a licence + Helium-1 spud date +progress over the Kiliwani PSA would clinch it, now that would be a reversal, happy to just see one move for now!

Bod need to deliver the strategy and I agree ref their personal purchases, all of which link back to Gneiss. If solo is the main advert for what Gneiss can deliver in the aim the market then it better be good & worth the wait & none delivery would tell the market as much about Gneiss as it does solo.

No chance of an EGM before the AGM in August scratch, but I am in contact with BD quite regularly and the BOD will be getting all the questions at the AGM if not before.

Back to mushroom mode then till the end of this month and on the phone to them early next month if no update on the strategy published in week 1 August.

Sorry should add, 4 to 6 months not necessarily to close the deal but at least to have initial terms and initial DD complete.

Thats true steve NR certainly gave regular updates (or maybe some might say ramps) Those updates of course were all paid for by the good old shareholders. Definetly more transparency is required on the Gneiss fee. I do understand that the fees include the 2 last placings (The AAOG placing had a fee of £400,000 for one placing, so maybe not so far out after all, depending on what else they have done for the money. But as Ariel said, that is the question, we see the spend, we see the time going by and no positive output.

I think 4 to 6 months is a reasonable timeframe for a deal and 4 months have gone already, so where are they in the cycle?

I think I agree with both of you :)
On the one hand they can say very little, on the other they have not provided a substantial update since march on the strategy, yes the ARA contained some info but only much the same that was in the strategy launch in March.

What stage are that at in screening deals?
Have they selected any for complete DD and if so what stage are they at, first stage, final legal review?

An ideal time for an update/interview would be soon after the extension licence is RNS'd by AEX on or around the 31st and most probably confirming a 3 month extension to the longstop. Leaving it till the end of August and the AGM is unacceptable.

It's an error on this LSE site, same on other shares.

Enjoying the garden and sunshine and now off down the pub.

They have not officially given up off shore yet but have written it off in the books and yes Rak and solo both hold positions in the Killi North licence.

Have a good evening!

And from the ara

The Company has taken the decision to impair the Nyuni exploration assets by US$43.5 million against the carrying value. The focus of the Company remains its Ruvuma and Kiliwani assets and it will continue to pursue any operations within Nyuni that can be quickly monetised through production into the Songo Songo gas plant. Given the large capital exposure and long-term prospects of the Nyuni Area which could potentially require a LNG terminal, the Company is naturally focussing its resources on our other Tanzanian assets at this time.

Think that just about sums up Nyuni.

Hi Aimster, all good points.

The cash payment is as follows. US$3 million on completion and US$2 million 180 days thereafter, so Aminex will have $3 mill on day one. The monies owed by the TPDC as I understand it are from the same issues that have been highlighted in the completed Gov contract review and the ongoing PSA review, possible resolution on completion of the PSA review then?

I also have my doubts about Nyuni and will have to wait and see how this ongoing saga progresses, Crusty may be right on the farmout/RTO should the licence renewal be awarded, but it is surely so far off from drilling anyway that Ntorya should be in production by then and earning enough to fund any drills.

Ceratinly the Zubairs only need to buy a couple of % in the open market to instigate an RTO, no idea if it will ever happen and what they find at Ntorya with the 6 additional wells could be enough for the Zubairs to move in, especialy if they find the oil that they have been searching for all along since the Tullow days.

I am not realy looking much beyond Ntorya at this stage, never mind projecting whata will happen with Nyuni!