Member Info for cperkin

Is it not possible for the Zubairs and Aminex to agree in principal and communicate the same based on the licence being supplied. It would even be possible to vote on the outline of the "In principal" deal at the AGM pending licence?

Morning PB, hope the little PB's are behaving ;) Totally agree, AIM is saturated with Rainbow chasing. The bottom line for me here is that the resources are proven, independently verified, a GE company completed an independent commercialisation development study which has been approved by the TPDC. The Government just need to sign it off and issue that 25 year development licence. Coupled with the fact that the Omani's have already poured Million of $ into Aminex and now are looking to do the same specifically for the Ruvuma asset that solo own 25% of tells me all I need to know. If it's good enough for them, then it's good enough for me. AEX - farmout + Licence and the drill tender closes at the end of this month. Good luck.

Many thanks for your views and history Crusty as a 2014 newbie, I was not aware of the Vendor agreement and did not realise that It could still be in place post BLV deal. I guess I was expecting a little more from NR and SOLO in that case but maybe explains the complete radio silence from both companies. C

Thanks Crusty. This is only relevant however if solo are involved in the Aminex Zubair farmout, which there is absolutely no indication that is the case as the deal is only applicable to Aminex 75%? I am not so convinced that the 25 year development licence is a requisite of the farmout talks although I agree that it very well maybe . As for NR and his ramblings, well the less said the better.

It would certainly have been great for the SP short term Drewky, however we would then have had to wait after for, funding, Basin model, CPR, licence application etc. At least the wait is almost over ;) It all depends if the expectation is for a 25 year development licence or a more simple licence extension I guess. Farmout - licence - rig contract....come on chaps!!!

I am a little more hopeful Drewky, if only based on the fact that the Tanzanian Gov are surely only going to be to happy to have the Zubairs provide more cash for Gas to power deliver. They certainly did not object to the Zubairs buying almost 30% of aminex in the summer of 2016. If they want the drill and gas, they need to issue a licence and approve the deal. I am still unclear on how this impacts the other PSA member though, but for sure, SOLO will not be complaining either!

Hi John, Crusty posted and noted the below, so the 21st June would be the last possible date to add to the AGM agenda. AEX only have to give 14 days notice of an AGM and hence, by extension, 14 days to add a new resolution to the existing AGM list. The 14 days does not include the day of the AGM itself nor the day of notification and it also has to allow another few days for Shareholders to receive the notification. Therefore 21 days would be the very maximum required notice period to add any new Farm-Out resolution, so maybe Monday 21st June June? It still remains to be seen if indeed we have any news on a Farmout by then of course....bl00dy hope so, but not guranteed due to the complexity and all the parties involved.

:) x

WHOOT! Morning Lak's and all, have a great day out there and a fantastic weekend!!!!

Well anyone holding must be betting you are completely wrong gaf. My opinion is that it is sat on the runway and waiting for the Aminex Farmout, licence + rig contract prior to take off. Good luck!

With the one thing we all agree on at least - with the very limited information available it is impossible to make any factual conclusion other than state your own opinion. Personally I do not expect that the 2 Zubair board Members, never mind the rest of them would let such dunder points go on at all. As stated previously hundreds of years combined experiance V some BB posters point of view is what it comes down to. (no offence meant, the same applies to us all) GLA

Hi Johnny, well I am here for the 2 TCF of gas - 25% of which is solo's as per the production sharing agreement (PSA) The other 75% is owned by the main listed company Aminex who are the operator. Aminex have a wealthy Omani cornerstone investor (own just under 30% of Aminex) who is currently in advanced stages of negotiating a Farm in deal into the PSA as per their recent RNS, this will provide an immediate and real cash valuation for solo's 25% and I am certaiin it will be higher than todays market cap here by some margin. Farmout @ aminex + Licence and the drill contract is due to be completed by the end of this month to sink the next drilll into the PSA where 5 TCF gross has been reported in the last CPR.

"Exactly what assets and at what company has he delivered this on" Well I would start with the 2TCF proven @ Ruvuma =0.5 TCF to SOLO = recoverable equivalent of 30 million barrels of oil. But hey thats just a fact, lets not that get in the way of anything..

Who knows PB, still wondering about the Aminex rise and activity this week, could there be a Farmout and or licence RNS on the way? Certainly getting bored with the wait.

Just hit the report button, the post is against LSE rules...�.if there's more IP trace and ban...yawn!

Many thanks to vike On a different note, this is an interesting story from the TZ M of Energy's website. It's in Swahili but essentially says that the World Bank has offered $1.4bn to TZ for development of its energy projects. That's a good sum for TZ. The agreement is due to be approved by the WB on June 18th. https://www.nishati.go.tz/wb-yatenga-dola-bilioni-1-4-kwa-ajili-ya-miradi-ya-nishati-nchini/

Yes agree, however one RNS declaring a licence and a farmout @ Aminex completely changes the fundamentals and thus the technical landscape completely. Thats the game right. AEX RNS 9th April - so 2 months ago now. "The Company continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Zubair Corporation, as announced on 21 March 2018. � The forthcoming well, formerly designated Ntorya-3, has been renamed Chikumbi-1 at the request of the Tanzanian Government. The well is targeting the same reservoir tested in Ntorya-1 and in Ntorya-2 in an updip position and will also be testing a deeper target. The proposed total depth is approximately 3,400 metres. � The tendering process for a rig to drill Chikumbi-1 is due to close during the current quarter with an expected spud date later in the year, exact timing of which will be dependent on rig availability."

Agree Crusty, hence Handcuff the BOD and wait for Operator delivery. GLA!

Hi bigp, 2 key issues that I see. 1.0 No licence for Ruvuma. neither an appraisal licence or development licence. 2.0 Aminex funding - currently in advanced negotiations with the Omanis. You could argue that hence $0 value is attributed to the 5 TCF gross and 2TCF proven. However the expectation is that both the licence and the Farmout will be delivered together, since you can't farm into nothing. So with a licence + a Farmout @ Aminex, which provides a cash value for solo's 25% then a re-rate is on the cards imo.

If it comes to it, a simple time stamped screen shot of current holdings should be sufficient proof, if required. Take each PI a few minutes and a little longer to collate and dump into a PDF file.