Member Info for cperkin

Very true Maverick, once Magufuli was out the way and the new president inaugurated, all things O&G have accelerated massively.
Huge money coming into O&G Tanzania at the moment.

This week, new fund with part of $15 billion to be invested in gas assets in Tanzania (M&A)
$10 billion Uganda Tanzania Oil pipeline investment decision signed yesterday.
FID due for LNG $30 Billion

Meanwhile work on the Ntorya project for £D & Drilling this year all in progress.

Best outlook for 5 years in Tanzania for O&G

AIMVHO

Yes Relik, seems somewhat at odds v RNS RNS Number : 2667U 02 December 2021

"The Joint Venture expects the contractor to be fully mobilised and to commence the survey on 15 December 2021 in line with the expected timetable. The first phase of seismic survey activity will continue until the weather permits and commence again once the rains have abated in late Q1 2022."

You might of course be right Maverik but from my point of view by the time the 3D is complete and analysed, we will be only two or 3 months from the drill, so why sell then? unless it's a farm-down and carry to production of course.

Very Clear update.

Highlights.
Financial

In Q4 2021 the revenue received for the quarter by GGL totalled £300,352 (unaudited) supported by high power prices through the period. This compares to the same period in 2020 where revenue was £232,968 (unaudited). At current power price levels EBITDA for the first 12 months of EAG ownership is estimated to exceed £600,000 rather than the £470,000 guidance previously issued.

The seismic acquisition and subsequent interpretation will seek to refine and confirm the exploitable gas resources of the Ntorya field. Additionally the survey will provide greater clarity of the potential upside of the discovery as identified by the operator APT, through a re-interpretation of the existing 2D seismic dataset. APT's revised mapping and internal management estimates suggest a risked prospective gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf (gross basis, mean case), in multiple lobes to be tested, and a prospective, risked recoverable gas resource of 1,990 Bcf (gross basis, mean case); and
APT continue to progress with well planning for the CH-1 well with key contracting now being undertaken. The operator continues to target a Q3 spud.

As Scirocco moves towards these key operational milestones we are continuing with our ongoing discussions regarding possible farm-down and divestment options, while simultaneously progressing our funding options in the event that we retain 25% interest in Ruvuma at the time of the CH-1 well."

I believe the plan now is solarization of the EACOP pipeline.

The gas pipeline however would open up a huge export market at around the same time as FFD could be completed over Ntorya.

More details here
https://corporate.totalenergies.ug/news/uganda-tanzania-launch-lake-albert-resources-development-project

"Paris, February 1, 2022 – During a ceremony held in Kampala, in the presence of Yoweri Museveni, President of the Republic of Uganda, Philip Mpango, Vice-President of the United Republic of Tanzania, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and representatives of the China National Offshore Oil Corporation (CNOOC), the Uganda National Oil Company (UNOC) and the Tanzania Petroleum Development Corporation (TPDC), the Lake Albert Development Project partners announced the final investment decision and the launch of this major project representing a total investment of approximately $10 billion."

No but the Final investment decision has just been green lighted.

The EACOP corridor may be used as a return gas pipeline to supply gas for Uganda. This project is very important one for this region with USD 10bn that will boost our economy.

https://twitter.com/PAU_Uganda/status/1488479754701492229

Note the TPDC forecast 1BCF per day to supply Uganda and Kenya via export pipelines.

The EACOP corridor may be used as a return gas pipeline to supply gas for Uganda. This project is very important one for this region with USD 10bn that will boost our economy.
https://twitter.com/PAU_Uganda/status/1488479754701492229

Indecently the TPDC have forecast 1BCF per day to supply Uganda and Kenya with Natural gas via pipelines.

The EACOP corridor may be used as a return gas pipeline to supply gas for Uganda. This project is very important one for this region with USD 10bn that will boost our economy.

https://twitter.com/PAU_Uganda/status/1488479754701492229

Definitely would like to see SCIR in for the drill vike and a carry to production would be a perfect solution.

More interesting news today. The government of Qutar and Jenkins Energy Group are about to go on a $15bn spending spree of African gas assets.

Some key quotes from the article:

“the move, which is to invest in the huge but largely untapped gas reserves in Africa, will see Jeniks Energy Group leap frogged to a global gas investment firm”.

‘‘Some of the key areas of focus by the Qatar government Investment include the Gas Reserve Acquisition, Liquified natural Gas and LPG projects across the 11 countries of Africa – Nigeria, Ghana, Kenya, Republic of Congo, Guinea Equatorial, Senegal, Gabon, Angola and Tanzania.’’

I can’t see She’ll or Equinor wanting to sell any of the offshore asset now that things are finally progressing for them.

So, which huge and largely untapped gas reserves in Tanzania could they be interested in?

Link to the article:

https://leadership.ng/stakeholders-commend-energy-group-qatar-partnership

With thanks from Ufufuo from the AEX board, a copy of his post.

"Tanzania Ambassador looks to enhance cooperation with Qatar"

https://thepeninsulaqatar.com/article/30/01/2022/tanzania-ambassador-looks-to-enhance-cooperation-with-qatar

"Tanzania Ambassador looks to enhance cooperation with Qatar"

https://thepeninsulaqatar.com/article/30/01/2022/tanzania-ambassador-looks-to-enhance-cooperation-with-qatar

Welcome back PJ!

Bull again Dan, unfortunately I have never had an occasion to post an article (beyond the Zubair investment in AEX) ref a large cash investor in Tanzanian Gas assets, this is for sure a first and very timely.

Seems Tanzanian Gas is attracting some large investment interest, I expect to see some more serious M&A in Tanzania. I wonder how much of that $15 billion is earmarked for Tanzania gas assets?

Well there has as I have pointed out never been any confirmed timescales, beyond the contract, one of the issues I have with the arrangement but yes what with the article below, maybe there is some new cash loaded competition for assets in Tanzania. Makes you think if a bid came in now then it should be rejected.

https://leadership.ng/stakeholders-commend-energy-group-qatar-partnership

Nice to see you now seem to fully believe that the Gneiss will get £20 million for the asset, much better than your recent £0 forecast and statement Dan.

Interesting the article though, new cash coming into Tanzanian gas assets.
The government of Qutar and Jenkins Energy Group are about to go on a $15bn spending spree of African gas assets.
‘Some of the key areas of focus by the Qatar government Investment include the Gas Reserve Acquisition, Liquified natural Gas and LPG projects across the 11 countries of Africa – Nigeria, Ghana, Kenya, Republic of Congo, Guinea Equatorial, Senegal, Gabon, Angola and Tanzania.’’
https://leadership.ng/stakeholders-commend-energy-group-qatar-partnership

Anyone found Dan's lost plot yet? Just asking for a friend.

More interesting news today. The government of Qutar and Jenkins Energy Group are about to go on a $15bn spending spree of African gas assets.

Some key quotes from the article:

“the move, which is to invest in the huge but largely untapped gas reserves in Africa, will see Jeniks Energy Group leap frogged to a global gas investment firm”.

‘‘Some of the key areas of focus by the Qatar government Investment include the Gas Reserve Acquisition, Liquified natural Gas and LPG projects across the 11 countries of Africa – Nigeria, Ghana, Kenya, Republic of Congo, Guinea Equatorial, Senegal, Gabon, Angola and Tanzania.’’

I can’t see She’ll or Equinor wanting to sell any of the offshore asset now that things are finally progressing for them.

So, which huge and largely untapped gas reserves in Tanzania could they be interested in?

Link to the article:

https://leadership.ng/stakeholders-commend-energy-group-qatar-partnership

With thanks from Ufufuo from the AEX board.