Member Info for CrustyPete

Resigned? No Steve, patient... It is a virtue so it is said

"One BOE is roughly equivalent to 5,800 cubic feet of natural gas or 58 CCF or 5.8 MCF" So the same in every case - so that being the case to compare I MMBOE between one producer and another really offers no great comparison at all, as one party might be earning considerbly more for their gas than the other. SDX has a reday market and is producing; Solo has no route to market and no agreed price for their gas. Until they do any direct comparison is virtually impossible though once we have NT3 and Dev license we will be better able to do so.

No cperkin I am sorry to corrcet you BUT SDX have 2P reserves of 13.5 MMBOE and NOT 2C and there lies the rub.... That is exactly the point and the reason that AEX and Solo should NOT be farming out until after NT3 and Development license - then and only then will those 31 MMBOE 2C resources become 2P reserves (I am taking your word for that figure as I never understand how MMBOE is worked out... as surely that is dependant on the varying value of the two ommodities and that will depend on price for the gas surely? ).

Bed and ISA cp? For �129k?? Think again...

Sorry I meant to say that the only reason that I am thinking "back to back" is that on recent volumes two sell trades of that value would have crushed the shareprice.....

Two trades at exactly the same price and value...? Odd. Back to back at the same price?

I will admit it is a "long shot" but they could have sold short on extended settlement? T25 maybe.....

I fully expect the offer to come in at a far lower figure $60 m or thereabouts - the point being that I would trust that neither the Aminex BoD nor the shareholders would accept anything lower. Though I fear I may be disappointed. I said here previously that I would say NO to anything below $75 million - however I now believe that the Development License is in the bag. How can anyone farm in to a licnese that doesn't yet exist? Hence I have now a reassessed my view and I think that the only "risk" that anyone would now suffer by buying in "early" is the risk of a failed NT3 drill and how mich is that worth? The pro rata cost of the NT3 drill and time delay and costs of NT4.... But with a COS of NT3 above 70% how much of a discount is that worth? Not much methinks. There are "pipeline" factors to consider but they would be more than offset by higher revenue. I hope and pray that the farm in doesn't happen but even a "low ball" unsuccessful offer would be good news if it valued Solo's 25% at $60 - 70 million. That is already several times the current market cap.

$100 million is my best guess and that is on the generous side; circa a 25% discount to a post Development License and NT3 Farm-out.....

Correct CP.... Dividend payment on completion of Ruvuma monetisation.

"simply laying a spur to the main pipeline seems over-simplistic." Yes indeed but any complications will add costs in terms of 10 - 25% but not "multiples". Moreover the increase in demand into 2019 increases significantly and I would expect the TPDC to be looking to plug Ntorya (NT1, 2 & 3) in to that increase within a 12 months period, maximum. NT4,5 6 and beyond will only be drilled as gas demand dictates.... Hence the importance of the NT3 drill to the commerciality of IO EPS study.

vike. "future cost requirements to develop the asset".... NT3 and pipeline and then what? The Ntorya field has ming been lauded as "self-fundin" ad with a possible combined daily flow rate of 100 MMscf/d so it should be. In fact probably enough there to self fund Ntorya and a few more things besides. All the more reason for Solo and AEX NOT to farm-out. Though as Christoff alluded to rarely does the MC directly correspond even closely to the NAV so the only way that Solo will ever see a direct correlation between the two is to sell it off and pass on the value to Shareholders in a "special dividend"....

It totally depends whether the purchaser is buying our Company or the Company's individual interests or assets? If they buy part of or all of Solo they will "inherit" all or a proportion of those assets. If they are buying individual assets (e.g. Solo's Ntorya 25%) Solo will take their cash and pass over ownership of the assets (in full or in part) to the purchaser.

Sorry willow, I am not trying to set a load of hares runnuing purely suggesting that we WIll see the EOY reports unless anything gets in the way to prevent it and the only thing might be Solo not being around at the time.

Yes John, assuming Solo is a going concern at the end of the quarter; we have an EOY report coming out in June and a date for the AGM in July. The question is more about what they will say.... Though I suspect that is not what you were meaning, in which case you need to be a little less facetious....

And we just got rid of 14.6% of our holding in Ntorya for $2 m. So I guess you are right trrime on that basis Ntorya is worth bugger all..... about $66m, so as an Aminex shareholder I shouldn't get my hopes up. :0)

What on earth are you talking about trrime?! I simply pointed out that as AEX's AGM as sooner than Solo's we will find out more about Tanzania without having to wait until the Solo AGM..... keep your hair on. I talk absolute rubbish? My opinions are just as valid as your own and after the rubbish and false information that you have fed this board over recent months I would suggest that to most observers my credibility might be somehat higher than yours. Buy anyway rubbish or not I will keep posting if only to annoy you..... :0) Look in the mirror trrime or keep your deramatory comments to yourself.

July, fjones it will seem like an eternity :0( Fortunately Aminex's AGM will be within the next 6 - 8 weeks, based on past performance. Hopefully most of the issues relating to Tanzania assets (H1 excepted) will become clearer.

I don't think NR has a clue in either direction......

Well he won't have much to say if he is speaking on the subject of "How to optimise the investment performance of a Portfolio Investment Company"