Member Info for cperkin

Thanks, so the probability of recovery and commercialisation, is it not much the same? I understand that the pipeline is required to move to 1P

I took it to mean as a result of the study by IO they have calculated an initial demand for the 3 wells for the 80 BCF hence the Ntorya pending V Ntorya Development Unclarified. My assumption might be wrong, but it seems logical. One for the AGM ;)

It was the 1C Crusty, maybe I missed it before? I assume the 80 2C is initial confirmed demand only as per the IO study?

Page 9 is interesting,Mtwara1 and 2 details 367.8 BCF 1C 763 BCF 2C 949.5 BCF 3C

http://admin.aminex-plc.com/uploadfiles/Aminex%20PLC%20Annual%20Report%202017.pdf

http://admin.aminex-plc.com/uploadfiles/Aminex%20PLC%20Annual%20Report%202017.pdf This one might be a better link.

http://admin.aminex-plc.com/uploadfiles/180430_Annual%20Report%202017%20and%20Notice%20of%20AGM.pdf

Lets hope so Mr J, PS your post on TZ charities, I gave a % from gains from SOLO & Aminex to TZ charities on the NT-2 drill and if it all comes good this time round with C1 then I think I will do the same again.

Oh and I meant to add, I was very happy with the news last week. Farm out progressing, KN-1 still producing and a plan to re-enter the well with the prospects of delivering from a larger reservoir and a cash & R balance that was little higher than I expected.

Everything in O&G takes ages and even longer when it involves Government approvals in UK or Tanzania.

Indeed,Farm out unlocks all the moving parts, how many $ millions for what % and are the Zubairs pushing for a licence to be delivered with any farm in proposal?

https://www.investegate.co.uk/nostra-terra-o--38-g-co--ntog-/rns/permian-basin---drilling-update/201804300700074604M/

https://www.investegate.co.uk/ironridge-resources--irr-/rns/drilling-commenced-at-ghana-lithium-project/201804300700054853M/

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 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 The National Environment Management Council (NEMC) has approved the Environmental Impact Assessment (EIA) status for the acquisition of further 2D and 3D seismic data over the Ruvuma Production Sharing Agreement acreage, focusing on the Ntorya discovery area. Leave only if you want to miss it.

Morning PB and all. Hope you all had a great weekend and good luck for the week ahead. Not going to be around so much the next few months, acting as Global director for a department...deep joy...not. Have fun!

Couldn't agree more. It is up to the BOD to strike a deal and together with the Zubairs, put it forward to the shareholders as a reccomended offer. Where Licences, fit into that equation may well be interesting.

For what it's worth, my thoughts and think I will stay and see how the Farmout unwinds. They spent NT-3 cash on the basin model, CPR, commerciality study and 25 year development licence application. The Farm out is the current front runner for providing the funding for the next drill, including the deeper liquids target and the development plan execution to monetise the assets through to self funded production. The dispute is over a minor sum, $2.73M one to keep an eye on but no one to panic over imo. The biggest risk is the Farm out, no Farm out then no money, but where would that leave the Zubairs?

Bit inconvenient that Farm out thingy & all those millions $ as is the rig contract & drill, oh well ;)

Think we are saying much the same thing Dunder, the point I was making was that the deal is more than just a straight $ value and immediate money in the bank when you take into consideration the full development plan & costs for the Ruvuma PSA/25 year development licence area.

Dunder, I was not suggesting a NPV/DCF/NAV?! just giving the example of what the farm in could mean in % expenditure for the drills and development ahead for the PSA post farm in with an example of 24% The NAV will also be greatly enhanced by the old chicken & Egg situation of 25 year development licence or not, Farm in price with and without or conditionaly?