Member Info for cperkin

Lets face it the Zubair Corp have already spent 10's of millions and intend to spend around another $107 million on the full field development, around 6 to 8 production wells across the fan based gas discovery.

The asset is both the issue and not the issue for SCIR, it is already very large for an on shore discovery (2 TCF recoverable) with an upside gross thus far of 8TCF. It seems the Government has given the Zubairs 18 months to get it into production and the issue for SCIR is exactly as it was when it was solo, how to fund such a large development.

Either they sell it before major development or they have to fund it all the way. The last published forecast production numbers show payback in the first 12 months.

Hi SVS all I can say is the existing Government (Still has a 4 year term to go) are very positive regards to gas to Energy and gas for export and the Energy minister has given an 18 month window for both Ntorya and Mbay to produce first gas/ more gas.
In terms of payment, M&P and WEN are getting paid on time and in full and have been for a couple of years now, the KN1 issue was a tax issue related to overseas earning from the last Government which thankfully has now been resolved. This was an important milestone "IF" Aminex and SCIR are to farmout/sell the asset.

The GSA is part of the already agreed work programme over Ntorya, however they will need that 25 year development licence as well as the 35km connection pipe to move to production to meet the Energy ministers Demands in the 18 month window.

The Zubairs are pouring in cash right now with the 3D and then the drill and they have already invested 10's of millions, looks like they are in to reap the large rewards to me. They have $billions of $ of gas already (at current GSA prices) even without CH1.

As always only time will tell but the next 18 months look very interesting for the Ntorya asset.

AEX BOD say they are looking to farm out Kiliwani and Nyuni. SCIR are saying they are looking to farm out or sell Ruvuma and Kiliwani.
AEX annual report.
Following completion of the Ruvuma Farm-Out, Aminex has
pivoted towards a non-operating strategy. The Board believes
that this pivot will allow it to ultimately improve shareholder
value. Having successfully identified a farm-in partner on its
key Ruvuma asset, the Company continues to actively seek
various options for its other assets that will align with its
strategy of reducing risk, securing investment and reducing
costs.

They both need a buyer.

A work programme was submitted with no acceptance from the Gov, but that was when AEX actually had the capability to deliver and operate, which now they do not. Chicken and egg unless they farm-down and hand over operator status to ANO

I should also add since AEX also transferred their staff, they also have no capability as an operator so unless the Zubairs or ANO moves in and takes over operatorship (farmdown) then they have no money and no skill set to deliver anything over Kiliwani.

Morning SVS. Yes the Zubairs own almost 30% of AEX and thus KN-1 but they did not farm into KN-1 like they did Ntorya, so no direct investment and as a result AEX have no money to develop the Kili licence area and drill KN south. So we currently have a stale mate.

I agree ref cash and if there is no reasonable expectation of a sale of both Ntorya and Kiliwani then the BOD need to communicate the funding plan.

On the GOV side we should expect to see the GSA and a 25 year development licence with no delays if they want gas within 18 months?

Well if the Gov want gas within 18 months then that GSA and 25 year development licence needs to be issued without any delays post CH1?

Blimey, if that's the deal you have negotiated then "Hats off" to you Rojo although I don't think you are completely safe after todays news.

Sounds like the Zubairs need to get their skates on after having been summoned and demanded :0)

I thought it was an interesting article to say the least despite the laughable "political rhetoric" After years of Government delays preventing development of said gas assets both here and @ WEN, all of a sudden the Energy minister "Summons" the owners (Operators?)

“Insufficient natural gas that could be transported to Dar es Salaam to fire the turbines in order to produce electricity that could significantly add to the national grid formed me to summoned owners of Mnazi bay and Ntorya wells. I have given them 18-month-ultimutam to increase production,” he said.

Sounds like the Zubiars need to get their skates on to me?

Lol prop, I wish. I have a wife m8 ;0)

A most ridiculous advertised spread of 40%, they trying to put people off?

Shame to see this below where it was when I very first bought some in 2016

+1 BF

Either they sell the asset or fund it, looks like Mrc's summer 2023 drill forecast looks way off at least :)

Many thanks Alph, very interesting.

“Insufficient natural gas that could be transported to Dar es Salaam to fire the turbines in order to produce electricity that could significantly add to the national grid formed me to summoned owners of Mnazi bay and Ntorya wells. I have given them 18-month-ultimutam to increase production,” he said.

On the Mtwara gas pipeline financed by a $1.2 billion loan from Export-Import Bank of China but underutilised by 27 percent, he said problems were with Mnazi Bay and Ntora well’s failure to produce sufficient natural gas.

“Insufficient natural gas that could be transported to Dar es Salaam to fire the turbines in order to produce electricity that could significantly add to the national grid formed me to summoned owners of Mnazi bay and Ntorya wells. I have given them 18-month-ultimutam to increase production,” he said.

https://www.thecitizen.co.tz/tanzania/news/why-tanesco-reassembling-is-necessary-3761092

Thanks to Alph on WEN

On the Mtwara gas pipeline financed by a $1.2 billion loan from Export-Import Bank of China but underutilised by 27 percent, he said problems were with Mnazi Bay and Ntora well’s failure to produce sufficient natural gas.

“Insufficient natural gas that could be transported to Dar es Salaam to fire the turbines in order to produce electricity that could significantly add to the national grid formed me to summoned owners of Mnazi bay and Ntorya wells. I have given them 18-month-ultimutam to increase production,” he said.

https://www.thecitizen.co.tz/tanzania/news/why-tanesco-reassembling-is-necessary-3761092

Thanks to Alph on WEN

No Mrc it does not it belongs to you, by far the top poster here, well at least in volume.

MatherdJ, I don't disagree and have boringly posted this endlessly. "Either they sell the asset or it will be significant dilution. "No one is saying any different, except Mrc who's current forecast is that the asset will be given away for free and there will not be a drill till 2023.

Of course matherdj. I have not been "bullish for rather a long time" Hence no Buy status on any of my posts. It all depends on your risk profile and as i probably the most useful saying on small caps. "never invest more than you are prepared to loose. "
However I think that you would agree that the market cap in any way reflects the amount of gas already found matherd?

25 % of 2 Trillion Cubic feet of gas is almost valued at nothing here. Hence my statement that value will no doubt out in the end.

This post will no doubt be deleted Monday Morning. Mr C deletes all the posts when he loses the argument and gets owned like a noob.

£15 to £20 million asset (Jam) on the books here & value will no doubt out in the end, unlike some of those never jam Aquais stocks, all mouth and no trousers IMO

Cluck Cluck

Cluck Cluck....

Hat eating fast approaches ;0)