Member Info for CrustyPete

Just a mistake LO643898, nothing more - Hold it is.

Dear oh dear I am sorry I bothered to look in here this afternoon; those on LSE detractors on ADVFN are starting to have a point.....

Bye for now.

Aminex through their $35 million "carry" and the rest from Solo (though quite where they are getting it from is open to question....?)

What planet are you on Drewky? How on earth can you suggest that APT are investing $110 million in @little old Aminex@ - that is absolute and total nonsense! They have purchased a 50% Operational interest in the Ruvuma concession for $40 million of which $35 is carry and are investing an additional $70 million in the develoment of their own 50%.....

I recognise and understand your enthusiasm for Aminex and your obsessive rants against those who do not share your views; indeed I would not even criticise you for your recent tactics of endlessly and pointlessly posting lists of positive future events at every opportunity; however your statement above is just blatant propoganda and has zero basis in reality - it is a total and absolute misrepresentation of events Drewky APT have NOT invested $110 million in Aminex; their investment in Aminex ended when they bought their 29.9%. Everything since then is an investment in Ruvuma NOT Aminex.

Shameful.

And for your information I am not suggesting that anyone sells their Aminex - see my HOLD recommendation - I am simply suggesting that there is no reason to buy in immediately.

Yes I do take your point regarding IO commercial study but bear in mind that that plan was designed to coincide with Aminex's Development License application and made assumptions about EPS being required to fund subsequent drills, And is not, I would suggest, a production profile base upon natural demand for gas. Indeed the reason for the Zubair's intervention is to accelerate Aminex's original production profile and avoid the need for drill and await income before drilling the next. Aminex would have no capital to fund NT4, 5 and 6 until the EPS solution had provided sufficient income to cover the costs of further seismics and then subsquent drilling of wells, whereas the Zubairs do not have to wait....

I totally agree Mather dj - why would the Zubairs want to kill the goose that lays their golden eggs ? Aminex - the gift that just keeps giving.... ;0)

Take a look at the recent CERP deal - an "all share" acquisition...... If we see that long awaited Share Consolidation that may be a clue?

Yes it should more than cover the salary bill particularly if that is being reduced with transfer of personnel to ARA. Also sufficient to remediate KN1 if ever the TPDC sign off on the work programme but I am concerned that there is insufficient for such things as Seismics for Kiliwani and/or Nyuni with our further fund raising. And as for acquisition? Well....

matherdj, we don't actually know how much cash they currently have - the last set of figures were for year ending 31st December 2017 and showed $6m of cash and net cash receivables and I fully expect that figure to be considerably less after the expenditure on CPR, IO Commercial study and another 6 months of salaries at $2 million per annum...

We should be getting 1st Half year figures at sometime soon - probably to coincide with the EGM methinks. Indeed to answer irishmouse's earlier question it may be the half year report that is holding up the announcement of EGM date.

"The first 2 years only shows a demand of 40?" Really...? Not based on Leaflessclover's research, I believe I am right in saying it is up to 100-120 towards the end of 2020 and the Zubairs will have their gas proven up well in advance of the demand curve; that way it ensures that other producers cannot get in ahead of them.

"Yes the Zubairs may well speed up development depending on their plans and gas demand, they need C-1 drilled first though and the 3D + the 33km pipeline before they get any further ahead in the full field development plan."

I am not convinced of the statement above - I fully expect the Zubairs to drill at least one and probably two wells over and above C1 in 2019.... there will be plenty of spare capacity in the pipeline and at Madimba for gas over and above that produced at NT1,2 & C1 - unless C1 comes in at 80 MMscf/d which I think unlikely; possible but unlikely. More than enough room for more gas from NT4.

CP, I am sorry but you are missing one important point - it may take only $60 million to get to EPS and a mimimum of 40 MMscf/d BUT that is no guarantee that $60 million is all that will be spent over that same time period - the Zubairs are highly likely to decide to drill more wells after C1 and before EPS (between Q1 2019 and Q1 2020) and, if so, Solo will have to fork out for that too. Where will they get the funding for another 1-2-3-4 drills?

That presupposes CP that Aminex and UKOG are not grossly overvalued and due a major SP retrace.... ;0)

Besides which Solo have to fund their way to the C1 drill yet and certainly have no current means of seeing themselves through to EPS, particularly if the "spend" over that period is anything close to the allowed $140 million and not just the $60 million for EPS only.... whereas that is not an issue for Aminex. So will Solo still be in the game when Ntorya starts producing? Maybe but with a considerably reduced holding in my view - maybe 10%.

That said, I do agree with the principle even if not the 4X factor.....

Well Drewky you are definitely going to have to up your game if you are to reverse the downward trend - your current tactics don't seem to be cutting it... ;0)

Good luck all

Dear oh dear Drewky you are beginning to sound deranged........!

Only joking ;0)

Anyway I will leave the board in you safe hands one and all - off now, back on Monday.

Have a good weekend fellow Aminexers.

Certainly not bad news in my view. The only caveat being

"however, that these rates are not the long-term sustainable rates of production from the well on which commerciality will be based"..... so we still need to see these "commercial" rates before passing judgement methinks

Desperation indeed.

Whilst some of the items on the list could be contested I am more than happy to leave the list as a fair representation of coming events; the issue is though that none of these are likely to cause people to be buying Aminex now as all of them are several weeks, months or even years away......

Plenty of possible "upside" but plenty of time to sit, watch and wait.

Your list of positives may well be correct Drewky though some are certainly not a given. The major point though is that few, if any, are guaranteed to happen in 2018 so why oh why are they going to affect the shareprice any time soon.....?

Have you got an answer Drewky?

Simply repeating the same list over and over again will not address the question.

Your list of positives may well be correct Drewky though some are certainly not a given. The major point though is that few, if any, are guaranteed to happen in 2018 so why oh why are they going to affect the shareprice any time soon.....? We still don't even have a date for the EGM!

As I have been saying since the AGM, there is no reason to be buying AEX anytime soon. After that long awaited EGM maybe.

Is it "being delayed"? I don't think so irish - we have been forewarned that the EGM is likely to be in September and as BG quite rightly points out they only need to give two weeks notice; that leaves plenty of time for the announcement.

Besides which the later they leave the notification the fewer PI's are likely to be able to attend.