Member Info for cperkin

Evening, watch out for the bop"E"d folks, even taken this into consideration if this new bod & management team deliver even only 50% of the 5000 equivalent per day then the company will certainly have been transformed.

In terms of timescales, yes the exec chairman has been in place since August however the full team only since December 19.

The question is will they deliver? on paper they have the credentials but delivery is everything & in saying that I recognise they have 0 influence with the Tanzanian Gov's current PSA negotiations ( see Swala post) so ignoring Ntorya, the deals they said they are going to deliver are the measure of the new team for me.

Delivery or time to sell....again.

New BOD, New management team, only been in position for a few months.

Give them a chance at least.

Yes I Know you tell us as many times as you can. Well you either should have got out earlier I guess, like 2 years ago @18.5p or hold. I hope the New bod deliver you your exit.

Either way, your money, your trade, your choice.

6 May 2019

SWALA DECLARES FORCE MAJEURE UNDER THE KILOSA KILOMBERO PSA

http://www.swalaoilandgas.com/documents/Swala-declares-Force-Majeure-under-the-Kilosa-Kilombero-PSA.pdf

Swala Oil & Gas (Tanzania) plc (“Swala” or “the Company”) advises that the Kilosa-Kilombero Joint Venture has declared Force Majeure under the Kilosa-Kilombero Production Sharing Agreement (“PSA”).

"In 2018 the Joint Venture resolved the issues of permitting that had prevented access to, and drilling operations in, the KilosaKilombero area. In late 2018 the Joint Venture commenced the tendering process to select drilling contractors and teams. In January 2019 it selected a drilling team and started planning the 2019 drilling campaign. On the 30th January 2019 it was advised by the Ministry of Energy (MOE) that all matters relating to the licence extension would be notified to the Operator once the government had concluded a review of existing PSAs"

Thx to BG

If you take the Swala comments and situation and read the links that have been posted here previously regarding the LNG negotiations I don't think that anyone has all that much sway over president Magufuli although I would guess the Zubairs have more than most.

Wait for the negotiations with the super majors and majors to be completed.

Sold, I have been buying what I can around this level Frank, large discount to the Zubairs price of 1.3p for almost 30% of the company. The new Gov negotiation team will surely complete the supers and Majors first is all I am thinking with regards to the 25 year licence, how much that should impact the extension licence? little you would have thought.

I am beginning to think that Aminex/Zubairs will not get a licence till the super majors and majors have concluded the terms of the upcoming LNG negotiatons as this may well dictate all terms for O&G operators and also dictate the time frames for domestic supply from offshore and so determining the onshore demand for the next 8 years or so.

Meanwhile, KN-1?

I find it's best if you don't believe then you cut your loses and move on.

YAWN (with caps)

Should have used some CAPS like a pro AA, maybe next time or SOON ;0)

Fully agree zeebo, the target is 5000 boped within 3 years, 500 to 1000 boped in year one would prove to the market that incremental delivery to 5000 is realistic and achievable and that the new BOD are capable of delivery against their stated targets.

Got to say, they only just raised, so in terms of the timing of the question, it seems extremely premature.

Like Crusty I think they have enough cash to operate nothing till 2020 and I fully expect the licence, thus the farmout and thus the first $3 million of the $5 million cash to be paid with the reminder $2 million within 180 days.

With the EPS and by the looks of the numbers the full field development to be covered by the $35 million carry to production, they may well not need to raise again ever.

I am expecting a deal (not closed) to be announced before the end of next month based on the below.

"H1’19 anticipated to be a period of key corporate and operational catalysts"

From low good enough 4 the self appointed ramp judge?

Thanks mick I thought they were all offshore or near shore. Still the question is even more valid then.

To be fair it has risen by 40% or there about this year, however there is too much uncertainty on timescales, Tanzania extension licence delivery is worth a bag but delivery date is completely unknown as is KN-1 perforation and as is the BODS delivery of a deal, although they suggest in the presentation first half of the year, so by end of next month.

No fixed expected dates = uncertainty and plenty of other rainbows to chase with spud dates and clearer expected deliveries on other aim shares.

Good luck!

Yes well done Frank, perhaps you could ask this little question in your reply.

Why is the work on KN-1 taking so long? you have indicated that it is equipment and Oil Field services that are causing the delay, yet WEN have just reported that the operator, M&P, has successfully completed a workover and pressure monitoring campaign involving slick-line operations on the Mnazi Bay wells. Thats 5 off shore wells, yet Aminex can not find the services to complete one Slickline perforation on shore?

Thanks

Could have been anytime over the last 8 months since the answers are exactly the same ;0)

Well played Frank, nothing new but confirmation once again.

Many thanks.

Nothing fast here!

Not sure realist is a good turn of phrase, what is real is the massive resources in the ground, discovered and appraised and wanted by a rather wealthy Omani conglomerate, what is real is that nothing will happen till a licence is issued.

Thanks for sharing reaction and bad new good news. The bad being that unless Helium-1 pull their finger out and sink some drills and convert to proven resources, they risk loosing their position of first mover advantage.

Good news that the same region (Rukwa) basin is independently being made ready to explore the huge Helium resources by another company, validating once again the potential of this asset to deliver large Helium resources in a market where demand is increasing and availability decreasing, leading to strong price increases.