Member Info for cperkin

Blimey PJ!!!! All ready for a video :)

Hope you are keeping well!

MJ, that because the can't until they get the extension licence from the Government.

So do I steve, at least till after the C-1 drill and seismic.

25% of 126 million barrels of oil 2C is massive for a company with a market cap of £13 million and those are not Gross or prospective numbers but 2C.
The C-1 will likely add to that number bearing in mind the deeper additional exploration target of 150 million barrels of oil equivalent gross.

Don't forget the 3D seismic at the same time as the C-1 drill steve, so they will need the cash for both. If SOLO sell @1.92p then they make a 45% profit on UKOG and collect £4.5 million cash. Anything above 1.92p is an additional bonus.

http://aminex-plc.com/FAQ.aspx

Exactly Sambo, they are preparing for the C-1 drill and the development plan to production. The release today of the FAQ from Aminex confirms that out of the 6 rig tenders, they have shortlisted down to the last two.

I know UKOG'ers don't like it but the recoverable oil to date there is 1.1 million Barrels of oil V the 25% of 126 million recoverable equivalent in Ruvuma and both are expected to be in production around the same time, so for me it makes sense to sell the smaller project to fund the bigger one.

Now below the 3% threshold.

Yes Crusty, although it being Aminex I should probably add the term "Broadly On track" for KN-1 remediation and perforation of the lower zone, same applies to the farmout.

Yes no comment on the claim, regardless the Money that the TPDC owe aminex is in excess of the amount being claimed, but it would be nice to know either way, do submit the question.

A nice bit of communication at last. confirming that both the Farmout and KN-1 remediation is still on track and they seem very close to finishing the rig selection (pending licence of course)

Well done Aminex and not before time!

What is the status of drilling CH-1?
The Company is committed to drilling CH-1 as part of the greater Ntorya Development area and is working with the Tanzanian Government and all JV partners to drill as soon as possible. The Company received numerous bids for its drilling tender and has shortlisted two companies with which it is negotiating.

http://aminex-plc.com/FAQ.aspx

Seems they are also updating the CPR

When is the EGM for the farm out deal?
The Company is actively working on the Circular, which will include an updated CPR. Aminex expects that the EGM will be held prior to the end of November.

https://twitter.com/AminexPLC/status/1051763224549437440

AminexPLC
‏
A new Q&A section has been added to the Company website here http://aminex-plc.com/FAQ.aspx . If you would like to see more questions added, please email aminex@camarco.co.uk. #AEX

https://twitter.com/AminexPLC/status/1051763224549437440


AminexPLC
‏
A new Q&A section has been added to the Company website here http://aminex-plc.com/FAQ.aspx . If you would like to see more questions added, please email aminex@camarco.co.uk. #AEX

Yep, clocks ticking willow, they need to deliver the licence and circular within the next 4 weeks!

Sorry 60 times bigger recoverable resources to solo that should be.

Actualy solo has fallen 744% and UKOG fallen 600% since their previous highs so similar.

As for chalk and cheese, quite right when you look at the recoverable resources

UKOG Horse Hill 47% of 7 to 11 million barrels of oil with 10% recoverable = 1.1 or to UKOG, 0.5 million barrels of oil recoverable. As per their last RNS and the xodus report

SOLO 25% of 126 million barrels of oil 2C recoverable equivalent as per 2018 CPR - So over 30 times bigger.

That makes solos 2C resources across Ruvuma and IOW a total of 36 million barrels of oil recoverable equivalent.

25% of 126 illion barrels of OIL 2C equivalent @ Ruvuma
30% of 15.7 million barrels of oil 2C IOW

And all for a market cap of £13.5 million

Oh sorry dunder it must have been your usual insulting tone when discussing a subject that curved balled me.

I would say the binding Farmout agreement would be a pretty good start, not forgetting a production licence over Kiliwani. Ruvuma is not the only asset. Not that they need a loan anyway.

As for the licence, I agree if not delivered before the 2nd week of November, I would be concerned by the delay, but I am not now.

Seems like a sure way to ensure that no Western country would invest in Tanzanian and they can forget about their LNG project, world bank funding etc. Domestic fiscal suicide no less.

Dudner Since the JV still have the licence and Aminex already have a production licence in Tanzania and the fact the Tanzanian know that if they want their gas for production then a licence is required, seems reasonable and not madness as you suggest, you even said yourself that it was probable.

Aminex secured the Argo loan when they had much less in the way of assets and did not have a binding agreement such as the Farmout agreement. I admit they could not get a loan for $107 million to fund the development, but $5 million whilst waiting or the 40 million cash & carry, I think should be no problem at all, not that they currently need it.

So you seriously believe the licence is in danger of not being awarded then dunder, please explain and why.