Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Do bear in mind that most of those historic costs would have been incurred when AEX were the operator and 75% license owner - but what would TPDC be due to fund and as far back as when? NT1 & NT2? No idea.
Not sure about historic costs RJ but a good question - depends, perhaps, on when they were incurred?
Have to leave you now for a little while - out for lunch.
Keep that sp up!! ;0)
There was historically RJ (maybe BG would dig that reference out again) but, I suspect, based on what was said at the AGM it may have been renegotiated as part of the Ntorya GSA discussions. But even if not it was fixed previously at 15%. In any event my last post is still just a relevant, just substitute the numbers.
But RJ even if the $35m that is earmarked for Ntorya development was reduced by 20% ($7m) would uyou rather have that $7m in the bank (paid back from future incomes btw) but at the cost of 20% of those future income stream ($8m per annum)
$7m, in the bank (paid over time), versus $8m a year potentially for decades - which do you think will have the greater impact on the sp? I know the answer and so I suspect do you. Cash in the bank NEVER has much of an impact on the sp - annuity income in the form of "guaranteed" future incomes certainly does.
Well that last we heard "officially, a BG has pointed out, is 15% - BUT - as you may remember, when this was discussed at the last AGM, TW and Sultan stated that they were expecting 20% -perhaps included or clarified as part of the recent GSA.
But yes RJ whatever it is will affect both ARA and AEX pro-rata but a 20% dilution of assets is not to be sneezed at! Though I do not think it will stop the sp rise over coming months with successful completion of various milestones - simply moderate it.
Well jshute, I said that I would top up when the sp reached 1p and, when it did about two weeks ago, so I did.....
ICB you reference the FT/IC site - could you be a bit more specific - I would quite like to take a look at that.
Thanks
Not before the EWT - you heard it first from our own BoD....
Just offered 1.425p for 1,000,000
And SELLS at 1.4975
Indeed gents now 1.40 -1.50p with BUY trades at 1.48p
I do not expect anything now until after the Energy show is complete largely because before we get an RNS and, as emptyend pointed out, ARA will need written confirmation of the 25 Year Dev license completion before ARA can release the news to AEX and AEX can release that RNS. With so many "prime movers" at that show/conference I suspect little will move until everyone is back "at their desks" - plus there is the issue of the RNS "approval" before release.
Though as Edgar says and I agree, it is only a question of when and not if we will get it. I am also sure that it will have a positive impact on the sp - though quite how much of an impact is likely to depend on what, if anything gets announced with it? As emptyend has pointed out it could come with a slough of additional activity or pointers to the timelines for such activity. Anything will help - with the possible exception of confirmation of the execution and extent of any uptake of the TPDC's back-in rights. That could have the effect of a considerable dilution.
Sorry RJ obviously I meant when NT3 became CH1 !! ;0) Sorry.
By the way RJ just to point out that NT2 would not have been an exploration well as NT1 effectively "found" the reserves that NT2 would be drilling into - NT2 was to be an appraisal well. When NT2 became CH1 (drilling into the Jurassic targets) it reverted to an Exploration Well as it was "exploring" a target that had yet to be discovered or proven to exist. Now that these targets are no longer being explored it will revert to an appraisal well. NT3, 4 all the way to #8 will be appraisal wells; they will be appraising what they already "know" to be there. Only once they go outside of the fan basin that they have "proven" will those drills revert to becoming exploration wells.
At least that is my understanding.
Basically Umaz an Exploration license gives the holder the opportunity to go and find gas or other resources with the expectation that, once they find it and enough of it, they can then apply for permissions and terms agreed with the Tanzanian Agencies to "exploit it". Exploiting it requires whole raft of additional requirements and obligations - to agree a plan for a work programme that drills or otherwise extract the asset, an infrastructure to get it to market and planning permissions, compulsory purchase orders and compensation for people affected by it etc etc
RJ you say "...back costs to pay in one form or another would they not?" Yes absolutely, in principal BUT reality dictates and the TPDC would be highly unlikely to dip into their, very empty, coffers; I would fully expect their contribution to historic and future costs to be funded from their share of future income streams. TW alluded to this back in July.
RJ you say "Ara and Aminex are in partnership with TPDC." - that presupposes that the TPDC have exercised their back-in rights to the Ntorya License (which has long been expected) but if so it has not been confirmed anywhere to my knowledge - maybe as part of the GSA but as no-one has seen it how would we know?
I have not been following the board or the sp this morning but see that the sp had fallen below 1:00 on the bid. Thankfully now back up at 1.05 - 1.15p and with BUYS going through at 1.15p. I really hope we see this stabilise above 1.00p before the RNS comes out.
Yes emptyend, understood and accepted. We can but hope :0)
Any further information re future work programme and timings would of course be good news emptyend but the last we heard ARA had not even signed a rig contract, so to what extent that timing information is currently available is questionable methinks?