Member Info for cperkin

Maybe it's the New Credible BOD and Management team? Maybe the huge assets in Tanzania? Maybe the strong current cash position of around £5 Million? or maybe the strategic direction the new bod have detailed?

Unfortunately not blue today though :(

Quite right though DYOR.

Haha Frank, not Aminex tweeting ;0)

https://twitter.com/tzpetroleum/status/1126466323930910725

https://tanzaniapetroleum.com/2019/05/09/aminex-current-status-on-its-drilling-project-in-tanzania/

"otherwise AEX board would of Tweeted that soon things will be moving forward"

If only Frank, the chance of them communicating something before it happens is a big fat 0% chance. You won't know till the RINS drops, the only prior warning would be a significant volume rally 24 to 48 hrs before....cough.

Watch out for the e =Equivalent in the boepd though, depends on the gas to oil mix and price. Ruvuma EPS with the first 3 wells would give solo 1777 of the initial 5000 boepd target.

Yes encouraging steve, we might even get back to the last placing price of 2.25p sometime soon?

That makes it 5 in a row.

HaHa you know I'm a muppet. Nice call on EQT by the way!

Quick, posting it again for another 13% up swing ;)

https://imgur.com/VoOCORF

*2 harmonics: Pink has hit zone to fulfil C
*Blue harmonic has 2 levels for D; by hitting upper yellow rec it has fulfilled reqts but as it has 2 levels, it *cld* still drop to lower yellow zone
*Suspect PRZ/confluence zone hit so now looking for reversal
*For pink harmonic to complete,needs to hit D (green rec)
*Targets for blue harmonic not yet given but this cld be ~5 bagger IF lows hold here; awaiting confirmation yet
*4hr t/f chart so **patience** required but will be rewarded if reversal is now imminent

AIMHO DYOR GLA:)

You may be right AA, certainly some volume pumping through but not much SP action?

Much appreciated Laks :)

I was assuming that a certain ex employee was perhaps needing some cash myself AA?

Going? 7.5p to 1p looks to me like it made it already.

March 8th 2017 - yes 2017!

Further to the Company's 6 February 2017 announcement, the well was drilled to a final total vertical depth of 2,795 metres. At 2,593 metres drilling depth, the well encountered a gross gas-bearing reservoir unit of approximately 51 metres. The reservoir section was associated with significant gas influx and pressure was much higher than expected.

According to wireline logs, Ntorya-2 encountered the equivalent reservoir section at approximately 74 metres higher than in the Ntorya-1 well. No formation water was produced during the test, leading Aminex to conclude that the Ntorya-1 and Ntorya-2 area contains a significant volume of gas in place. Ntorya-2 also encountered traces of oil in the gross reservoir interval and the Company is updating its basin model to determine the optimal drilling depths for Ntorya-3 and for future development wells.

Seems the rest of us ought not to bother posting then ;0)

Very glad to hear that AA :) 2 months of H-1 left.

From the March corporate presentation.

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

Have a lovely long weekend all!

Would like to see him take some of the profit from block and invest it in more solo shares, would demonstrate even stronger belief in their own strategy, although if they are close to closing some deals I don't suppose he can.

I was beginning to wonder the same thing matherdj, in saying that the appraisal licence first would be best so the Farmout and drill can get going whilst they negotiate the production terms.

As Drewky says, a positive change in process and confirms in reality that both licences are as holders believe going to be delivered.

From Aminex, note the change to pre negotiated GSA and not post drill and connection like in the case of the KN-1 well, so all negotiated upfront.

"The application for the Ntorya Development Licence was submitted in September 2017 and award is pending negotiation of gas terms and a gas sales agreement. During 2018 we were notified by the Tanzanian authorities that a gas negotiating team has been formed and we look forward to conducting negotiations with them in 2019."

Yes, given up guessing on when the Tanzanian Gov are going to issue the extension licence, never mind the 25 year development licence. Seems they have completely changed the process for the latter according to the Aminex EOY report. Where before you would get a licence and then eventually negotiate the terms and GSA (remember KN-1) now it's all rolled up together and all the details are formalised at the award of the licence. So at least once awarded there is no further negotiations required.

Morning BP Well at least it's NOT SOLO's pay roll although as a 13.8% holder we do bare indirectly some cost, but as a straight replacement, a Geologist MD for an drill develop and production MD, I know which I prefer.

Like I say if it means that actualy do something as in drill and develop this year than I am happy. If not then I will probably throw my toys out of the pram again.

Well it would be if the spread was not almost 15%!