Member Info for cperkin

Sort it out chaps, maybe high noon down the dog & Partridge?

I think there might be a few more interested in this years AGM Crusty, with the lack of fear over Covid and finally momentum and lots to talk about.

2023 AGM being what was expected in 2019/20/21 & 22 It will be good to see some old faces and who knows maybe a few new.

Not sure that's the case, the SCIR deal is legally binding regardless of any results published smudge.

I would of thought that the Zubairs would take some time reviewing the data and interpretation before making a call on where to drill?

Just a general overview from an article GL posted so not my words Aimster.

You are right though the 3D seismic was due to be available Mid march for the Zubairs, I wonder what they are seeing and if they will move the CH1 pad and if we will get some info month end/start April?

with some info.

A two-week well-testing program on the Ntorya-2 well (NT-2) has been designed and scheduled for late March 2023, utilizing a mobile testing unit, to provide additional information required for the design of in-field processing facilities and the export pipeline; in particular, an accurate measurement of the gas composition.
A well-workover of the Ntorya-1 well (NT-1), to enable rapid tie-in to the gas production facilities and bring the well into early production requires the use of a drilling rig and will run after the drilling of CH-1, which we expect later this year.
Advanced negotiations regarding a Gas Sales Agreement (GSA) in respect of the Ntorya Gas Field are ongoing with the Tanzania Petroleum Development Corporation (TPDC). It is expected that the GSA will be agreed and finalized shortly.
Tanzanian Authorities have actively engaged in substantial discussions with potential contractors for an export pipeline from Ntorya to the Madimba Gas Plant to accommodate gas by October 2023.
APT has held significant discussions with potential contractors for the construction of field processing/gathering facilities.
A near final Field Development Plan (FDP) has been submitted and is now with TPDC for final comments, which, upon approval, will lead to the issuance of a Development License for the Ntorya Area.
A request for a further extension of the Ruvuma license has been submitted, which is expected to be granted soon.

NT2 flowed at 17 MMscfd on previous testing, we will know next month exactly how well it flows & the composition.

RNS Number : 5799R
Aminex PLC
02 March 2023

A two-week well-testing programme on the Ntorya-2 well ("NT-2") has been designed and scheduled for late March 2023, utilising a mobile testing unit, to provide additional information required for the design of in-field processing facilities and the export pipeline; in particular, an accurate measurement of the gas composition.

These in theroy are the next 2 pieces

The results of the initial 3D seismic processing and interpretation, to optimise the target location of the CH-1 well at the Cretaceous reservoir level, will be available by mid-March

A two-week well-testing programme on the Ntorya-2 well ("NT-2") has been designed and scheduled for late March 2023

So we should get something around this month end/start.

Licence, GSA & FDP could drop at anytime.

"Are you suggesting that I go into hiding or change IDs? I don't!."

LMFAO

Stick me on Rhythm Guitar, I have played some of the same stages as the greats like the stones and Bob Dylan......

Just not at the same time they were there :)

So the consensus is a straight forward flow test of the well end March and a test of the Calorific content with the possibility of increasing flows from 17MMSCFD?

The NT2 flow rates are of course crucial, last test was 17 MMscfd although I seem to remember suggestions from the old BOD that they felt it could produce much higher and the Mud damage as a result of the very high pressures encountered restricted flow.

So are they just testing as is or completing remedial as well?

"A two-week well-testing programme on the Ntorya-2 well ("NT-2") has been designed and scheduled for late March 2023, utilising a mobile testing unit, to provide additional information required for the design of in-field processing facilities and the export pipeline; in particular, an accurate measurement of the gas composition."

Currently several million £ below current cash on hand.

Who cares anyway.

Will be very interesting to see the GSA arrive (as well as all the other news of course) but anything over $3 would be very positive as a base line, although I seem to remember it is also dependent then on the Calorific content .

Bring on the news flow.

Advanced negotiations regarding a Gas Sales Agreement (GSA) in respect of the Ntorya Gas Field are ongoing with the Tanzania Petroleum Development Corporation (TPDC). It is expected that the GSA will be agreed and finalized shortly.

Pt2

The successful conclusion to the above workstreams is expected to have the following impact on the Project:

The decoupling of the spudding of CH-1 from first gas production and receipt of gas revenues. APT continues discussions with rig contractors and is confident of rig availability. We will provide a further announcement on drilling rig arrangements in due course.
Accelerated production from Ntorya, strongly supported by the Tanzanian authorities, and which has now been brought forward twice from the original schedule.
The FDP and resulting Development License will be granted up to 18 months ahead of the original schedule with significant gas revenues to Aminex arising from production through NT-1, NT-2 and CH-1, once drilled and completed.
The full 3D seismic results will be available by mid-year and will permit a full revision of gas reserve and resource potential for the field.
Aminex, with a 25% non-operated interest, is carried throughout the ongoing work program to a maximum gross capital expenditure of $140 million ($35 million net to Aminex). The carry is expected to see the company through to the commencement of commercial gas production from the Ntorya gas-field at zero cost to Aminex.

Charles Santos, Executive Chairman of Aminex commented: “Today’s update demonstrates APT’s capacity, not only to run multiple critical negotiations and a significantly broader technical engagement but also its high level of confidence in the Project, fully supported by the Tanzanian authorities. Accelerated gas production, now targeted for October 2023, shifts the narrative of Ruvuma; it further de-risks the Project from a dependence on the spudding and outcome of CH-1 to a more anchored and broader development effort as we move toward early gas production.

“Such de-risking continues to honor the upside potential that will come from the drilling of CH-1, the 3D seismic interpretation and the full development of the field. As mentioned in our previous announcement, these developments are potential game-changers for all stakeholders in the Ruvuma development. Moreover, locking in the development license and halving the timeline for gas production and cash flow to the Company more than offsets the delay in spudding the CH-1 well. We thank APT and the Tanzanian authorities for their significant efforts in bringing the Project to fruition and look forward to providing a more detailed update to the market on completion of the current workstreams.”

A two-week well-testing program on the Ntorya-2 well (NT-2) has been designed and scheduled for late March 2023, utilizing a mobile testing unit, to provide additional information required for the design of in-field processing facilities and the export pipeline; in particular, an accurate measurement of the gas composition.
A well-workover of the Ntorya-1 well (NT-1), to enable rapid tie-in to the gas production facilities and bring the well into early production requires the use of a drilling rig and will run after the drilling of CH-1, which we expect later this year.
Advanced negotiations regarding a Gas Sales Agreement (GSA) in respect of the Ntorya Gas Field are ongoing with the Tanzania Petroleum Development Corporation (TPDC). It is expected that the GSA will be agreed and finalized shortly.
Tanzanian Authorities have actively engaged in substantial discussions with potential contractors for an export pipeline from Ntorya to the Madimba Gas Plant to accommodate gas by October 2023.
APT has held significant discussions with potential contractors for the construction of field processing/gathering facilities.
A near final Field Development Plan (FDP) has been submitted and is now with TPDC for final comments, which, upon approval, will lead to the issuance of a Development License for the Ntorya Area.
A request for a further extension of the Ruvuma license has been submitted, which is expected to be granted soon.

Thanks GL

https://www.petroleumafrica.com/chikumbi-1-spud-delayed-in-tanzania-ntorya-production-timeline-accelerated/

Wed should be interesting this week ;0)

HaHa

And Aimster, what happens to the remainder of the $35 million carry unspent?

Oh yes I remember
In the event that the minimum production target of 40 MMcf/d is achieved prior to Aminex's 25% interest having been carried for the full $35 million, APT will assign one quarter of its share of profit gas to pay the unspent Carry amount until the full $35 million is realised by Aminex

Moved my status to a buy based on almost continuous news flow from now to end of year and first revenues.

Seismic due Mid March.
2 week testing of NT2 late March.
NT1workover & and CH1 drill later this year.
GSA close to completion.
Pipeline ready October 23 for first gas production.
FDP submitted (Development licence)
Licence extension submitted

https://www.londonstockexchange.com/news-article/AEX/strategy-company-ops-update/15858276?

"Today's update demonstrates APT's capacity, not only to run multiple critical negotiations and a significantly broader technical engagement but also its high level of confidence in the Project, fully supported by the Tanzanian authorities. Accelerated gas production, now targeted for October 2023, shifts the narrative of Ruvuma; it further de-risks the Project from a dependence on the spudding and outcome of CH-1 to a more anchored and broader development effort as we move toward early gas production. Such de-risking continues to honour the upside potential that will come from the drilling of CH-1, the 3D seismic interpretation and the full development of the field. As mentioned in our previous announcement, these developments are potential game-changers for all stakeholders in the Ruvuma development. Moreover, locking in the development licence and halving the timeline for gas production and cash flow to the Company more than offsets the delay in spudding the CH-1 well. We thank APT and the Tanzanian authorities for their significant efforts in bringing the Project to fruition and look forward to providing a more detailed update to the market on completion of the current workstreams.