Member Info for cperkin

Aminex notes yesterday's announcement from Scirocco Energy plc ("Scirocco") announcing (a) the exercise by ARA Petroleum Tanzania Limited ("APT") of its pre-emption rights with regards to Scirocco's proposed divestment of the Ruvuma asset ("Ruvuma") to Wentworth Resources plc and (b) the receipt of a letter from the Tanzania Petroleum Development Corporation ("TPDC") stating that the TPDC is considering exercising its statutory rights of first refusal in relation to Ruvuma.

The Company is very pleased that the operator of Ruvuma, APT, wishes to increase its participating interest in Ruvuma and that the TPDC is interested in having a participating interest in the asset, both confirming our long-held conviction in the quality of the Ruvuma asset. The Company's wholly owned subsidiary, Ndovu Resources Limited, does not intend to exercise its pre-emption rights under the Ruvuma joint operating agreement.

Charlie Santos, Executive Chairman of Aminex commented:

"We are delighted that there is so much interest in Ruvuma, signifying the importance of the development of this major asset to Tanzania."



https://www.londonstockexchange.com/news-article/AEX/ruvuma-psa/15539436

Sorry to hear about your other holding Crusty. I was thinking, maybe incorrectly that the % post TPDC back in would be very small for AEX and help maintain the 25% holding and with the deal being such a giveaway in cash terms with 50% coming post production it could be attractive.

Either way, happy to be in AEX and the Zubairs have played a blinder thanks to such a pathetic deal struck by SCIR and WEN.

So you think AEX are out of the picture for grabbing their pre-emption % Crusty? The deal looks so attractive to the buyer with 50% of the costs deferred till production

Guess we will find out very soon jd, on or before the 16th of July. Certainly like CP pointed out, ARA would benefit from offsetting any TPDC back in and the same could of course apply to AEX.

Looking at the RNS it turns out GEO might be right after all!!!

Drilling in November GEO.....

Seems you misinterpreted what I was referring to Hits, a bit of the old one eye perhaps caused by exhaustion from the full time job of continuously postings here and on ADVFN I expect, maybe take a break?

So what happens to production above the hedged amount as in "Hedge +" that I referred to?

Gas prices are obviously very healthy hedge+

Have a lovely weekend

"a target date for first gas export (ie sales) between the 7th and 12th July."

So by next Tuesday, should add + or - 20% for contingency either way.

GL

RNS Number : 4814Q
Angus Energy PLC
28 June 2022

"a target date for first gas export (ie sales) between the 7th and 12th July."

So day one tomorrow.

RNS Number : 4814Q
Angus Energy PLC
28 June 2022

https://youtu.be/ruTMp4_sy1E?t=43

Your country needs gas ANGS

https://www.ft.com/content/bd5a3c33-03bc-4434-8465-9d306b8885da?shareType=nongift

Well as it happens, here is some more up to date news With K Roe speaking at the Tanz Energy Congress, 3 – 4 August 2022 in Dar Es Salaam.

https://twitter.com/abdulsamadz/status/1544417646103388161

Will be very interesting to see first Quarter earnings post production and apply the relevant PE ratio to the cap.

Why they are tweeting something that happened in May is beyond me, but hey ho, FYI

At the Africa Energies Summit in May, our CEO Katherine Roe spoke with the
@ConnectFrontier
team, discussing Wentworth’s ongoing focus on producing low cost, reliable power for the people of Tanzania.

https://twitter.com/WenResources/status/1544347169376829440

“The world is now thinking about gas as it once thought about oil, and the essential role that gas plays in modern economies and the need for secure and diverse supply have become very visible.”

https://twitter.com/BloombergNRG/status/1544193357387337729

8th July, looks like an important date....

Good stuff MK, I will place the total of £2,132,000 for 4 years into my previous calculation.

Total Income £11,940,000
Loan repayment £1,220,000
AD plant £1,200,000
Missing £9,520,000
Gneiss payments £2,132,000
Missing £7,388,000

https://twitter.com/WenResources/status/1542801381681254405

See the games that have been played here, very common on these small caps. live and learn folks and well done to those that held their nerve/in the know.