Member Info for cperkin

Solid looking asset base, solid operational execution required to realise full value.

How does the Government contract and PSA review that impacts all 11 companies with licences in Tanzania have an impact on your green light?

It's not specific to Aminex/ SOLO WEN, Pact etc

Fair enough, seems you are a lot more sure of that than the Aminex Bod and Sultan Al-Ghaithi with their "if or when an extension is required"

Either way the downside is an extension to the farmout and the upside a licence and completion of the farmout. We should know which in the next 7 to 10 working days

Juts pointing out that the current open market value for 2C gas resources based on a current deal is $80 million for 763 BCF 2C. BLOE have just over 600BCF 2C gas.

Based on current market offers for 2C gas resources (See AEX & SOLO- $80 million equivalent for 763 BCF) The 2C gas more than underpins the current mcap alone.

Morning BG, I agree.

So worst case is the Longstop is extended on or around the 31st July and best case is the licence is issued on or around the 31st July.

I wonder what the circulation for "Premium content" is post pay per view?

After sleeping on it I still find their choice of wording very strange with the extension "Should it be required"
"The Company will make a further announcement if or when the longstop date has been formally extended."
"content to further extend the longstop date to the Ruvuma farm-out agreement, should it be required"

Guess we will know in 7 working days, licence or extension.

https://www.lse.co.uk/rns/AEX/aminex-plc-ruvuma-farm-out-update--j8bgpzql2xkz9o9.html

Hi Crusty, hope all is well.

Yes that was my first thoughts, but on reading it back it does not seem to be the case, especially when you consider all the references,

After sleeping on it I still find their choice of wording very strange with the extension "Should it be required"
Guess we will know in 7 working days, licence or extension.

Sultan Al-Ghaithi, Chief Executive of Ara Petroleum LLC, said:
"We are similarly disappointed in the time it is taking to obtain approvals but continue to be encouraged by the positive response by the Tanzanian authorities to our future involvement in the Ntorya project and content to further extend the longstop date to the Ruvuma farm-out agreement, should it be required"

The right Geography and assets Zebbo but who knows?

Yes I agree, maybe 2021 earliest. Still licence and drill first and then they should have an asset valued at multiples of the current $20 million and ready for sale.

Will the Bod be filling the gap with a deal(s)?

cont..

"Aminex announces that all parties to the previously announced Ruvuma farm-out agreement ("Farm-Out") intend to extend the longstop date to 31 October 2019 should it be required."

"The principal conditions of the Farm-Out still to be met are the extension of the Mtwara Licence and approval by the Tanzanian Government of the transfer of the interest and operatorship."

No worries steve, lots of those pesky licences flying around over the years.

There are no licence restrictions and no commitments over the Kiliwani licence area that have to be met. The licence as you said runs to 2036, however what is stopping progress is AEX are skint + the PSA review also impacts the terms over both Ntorya and Kiliwani.

I am not even sure that Aminex will perf the lower layer ( I could be very wrong) but they are due to complete 2D reprocessing this month which suggests they are looking for the next well. It would not surprise me to see KN-1 plugged and abandoned.

The Gov PSA review imo seems to be crucial to unlock both the Mtwara licence (Ntorya ) and Kiliwani.

So the most important thing is the delivery of the extension licence = farmout = cash for Aminex and Kiliwani progressed + Chikumbi-1 spud etc.

From todays RNS.

I think you are confusing the licence areas steve, the 2036 licence is the production and devlopment licence over Kiliwani & Ntorya is the Mtwara licence area.

Exactly Froglegs, the licence extension has always been a condition of the longstop and the # of wells and commitments have to be agreed over the licence area.

Interesting that it's a shorter longstop period than the last one.

2 X price monitoring extensions issued
https://www.investegate.co.uk/aminex-plc--aex-/rns/second-price-monitoring-extn/201907191640401835G/

Very strange way to put it, suggesting that it might not, even the Zubairs said the same?

In my mind I was not expecting anything till post PSA review but maybe I am wrong?

It was exactly as expected for me and it's a great RNS imo, a bad RNS would be no extension and the Zubairs walking imo.

Like this bit though.....extend should it be required ;)

Aminex announces that all parties to the previously announced Ruvuma farm-out agreement ("Farm-Out") intend to extend the longstop date to 31 October 2019 should it be required....

https://www.lse.co.uk/rns/AEX/aminex-plc-ruvuma-farm-out-update--j8bgpzql2xkz9o9.html