Member Info for Drewky

I knew Tom would listen Max when he asked me to drop him that presentation in the email. When he responded 14/7

"Many thanks for your communication, I have taken your comments on board and in the spirit which I am sure they are intended and will further discuss the matter with my fellow directors."

Best regards…Tom

Thank you Tom

Three now, that's twelve in a month along with nine RNS', at least three interviews I remember and a shareholder meeting.

You see they have been listening to the call for communication. It maybe not we are ultimately waiting for just yet but they are making an effort which is something everyone wanted.

Link to the official RNS http://admin.aminex-plc.com/uploadfiles/180823_Operational%20Update.pdf

And a list as long as your arm

5 TCF GIIP - for Ruvuma - Ntorya 1.9TCF GIIP - 368 BCF 1C - 763 BCF 2C & 1162 BCF 3C

io commercialisation study est. $143m spend to recover 3/4 tcf based on current gas price, $3.27/mcf is worth $25m to $35m cashflow per annum to Aminex from 2020 to 2049” "Fully covered"

FARM OUT - APT have committed to spending a possible $110milion on the full field development of the Ruvuma project which includes a committed spending of $40million to Aminex. $5m cash & balance $35million paid as full carry up to 40MMscf/d at which point any unspent remainder will be paid in cash from gas profits.

APT will acquire 50% of the Ruvuma project with Aminex retaining 25%. Solo Oil hold the remaining 25%

“APT will establish an early production system to achieve an accelerated first gas to a minimum a MINIMUM gross rate of 40MMscf/d by Qtr1 2020” representing full carry to minimum $10 to $12m p.a. cashflow “Not revenue – Free Cash”

"Much more expected! Not worth building a 30Km pipeline for just 40MMscf/d"

Adding the Solo share of costs $35m gives $140m total potential spend & brings full carry to profitability as per “io” projections

"Any further spending will be self-generated"

“Chikumbi-1 well pad is complete - planning to drill this year”

“Multiple Targets - Gas - Oil at the lower level - Oil shows found down dip at previous drill”

“Planned around same time” APT will acquire 3D seismic data over 200km2 to optimise drilling targets

Based on results of CH1 and 3D seismic APT will build a 33km pipeline to Mdimba gas plant to allow for maximum gas delivery “planned for 2019”

“Q1 2020 Monetisation to coincide with demand call”

“Plan” Drill CH1 alongside 3D & back with further 3 to 4 drills (possibly 2019)

Full field development is projected to 140mmcfd by mid 2020’s

“Kiliwani remediation with income stream planned to resume 2018”

Possible further drill at Kiliwani South

Nyuni – Plans for 3D seismic

Competitors running maximum capacity & demand forecast to outstrip supply 2019

TPDC have announced feasibility study for gas pipeline to supply Uganda

Malcy Comments "Excellent meeting, shareholders have nothing to fear, bucket list status assured”

"The Zubairs are putting $105m on the table, they wouldn't be doing this if they did not think it was worth a lot of money" ”It's in the bucket, it's for a good reason. The value of this asset is high!"
https://audioboom.com/posts/6959402-ascent-resources-ast-and-malcy-on-solo-wrl-aex-iog-amer-hur-genl

Everything in this list has been produced in good faith & to the best of my knowledge is factually correct & has been published or stated verbally by management with regards to time schedules etc. DYOR https://aminexunofficial.blogspot.com/

I'll not argue with that Pete. I'm happy to see it if only to give a few a boost to those who were beginning to sway towards the doubters but in all honesty there is nothing in it that we didn't already know.

For me the way forward is good and we are simply treading time waiting for the big kick off. Just like football, its kick off times are controlled from the outside. I think Sky need to decide which Super Sunday they wish to show the game.

I agree Sambo and I hope they don't but it's still something the Bod should be prepared for

Again more good research welloiled and a point well made.

Having that information may split some views and discussing that part further now would be futile until we know but if we were to get a further % then of course we would be liable for that % of costs though as we are on a free ride to $40m worth of costs it would just eat that up a little quicker but I would see a huge benefit to Aminex if the worse came to the worse for Solo

Edgar I'm the same, I don't have any wish to see harm come to Solo, it was NRs belief that we should drill deeper that helped put us where we are and they should see their reward.

I fear for them though and my talk of where the share goes is just in case they do default because if so I would like to think our Bod have that angle covered in this new deal.

There is another reason I don't want them to come to harm in that I believe there is a potential good investment over there but I've remained here because I feel it is safer. I always felt and still would like to take some of my profits from here and put it their way

Interesting welloiled thank you, although that assignment did come out in a relative split as was suggested as normal earlier, the mere fact that the title exists as an "assignment agreement" could mean that it is possible to write up that agreement as a result of negotiations. Before this farm out is in place as stands in default Aminex would gain the full 25% so I'd like to think they would have at least attempted to negotiate on the contingency. I would have at least tried. I think dunders point more likely but it would be interesting to have an answer if the question can be raised don't you think.

As I thought then, it is possible but as you say would not be normal. Tbh I'd be surprised if it come to that situation but I'm not up to speed with solos position. Thanks for answering

That would make sense dunder.

Asking another question. If as I suggested just that it might be possible for the new partners to have done a different deal would you say the original arrangements would have to stand or could a new deal be cut in such a way to allow what I suggested was a possibility?

Pete I don't wish to argue here but your are assuming the farm out contract allows that and that the deal is to hand things over as is. This farm out is a different deal and I would have hoped that Aminex have looked after themselves in that respect if they felt it was worth doing. Fact is we honestly don't know at this stage exactly how the cake will be sliced if that occurs.

It could all come back to Aminex giving us 50%, It could be split 50-50 or as you say could all go to the Zubs. You may find that out at the EGM if the question is put to them?

Random that is fine if you wish to poo poo the idea of doing due diligence but would you jump into bed unprotected with somebody without wanting to know if they are clean? I'm not trying to shut anybody up but as unlikely as it sounds it maybe true. Why would they be following my twitter posts? I don't know!

Its been said by others on here many times that the Zubs have maniuplated the price down here and are in cohorts with Jay in seeing the price low so we could take a low ball farm out, so if that is an acceptable case to destroy Jays cred then why cannot this be a possibility?

I'm not saying it is but when I do a deal I like to find out as much as I can about what I'm dealing with. How many HR departments now scour facebook before employing staff these days? It is really not as far fetched as you might think!

Noticed the smile Pete but still thought it worth answering.

You are right though, a break would do me good. I'm sharing my time whilst writing my manuals but I must not procrastinate. I should save that for tomorrow.

Smudger For what its worth I don't think it matters what Solo do. If and when the Zubs are ready to go Solo haven't got the wherewithal to stand their end then its possible they could be squeezed out.

I doubt very much they would be asked to stump up $35m in one hit anyway but if they don't fulfil then I assume their 25% falls back into Aminex hands in the first instance.

Sambo I believe you are right that we do have a good deal and we will see some decent rewards from this. You speak of positive posters and blue sky ambitions and I am most definitely one of those who believe that that is the case. Although profit expectations have had to be reduced based on the nature of the farm out it is in fact bringing things forward in that we have had a monetization target to go at now. So I personally see that as a swing and roundabout scenario!

My disagreement is on your points about being mislead and that is because I do not feel mislead in the slightest.

These are the reasons...

It was said that the find at NT2 would be tranformational for the country!
It was said it would be transformational for this company!

Everything I have seen so far tells me it will be for both so I don't have that feeling!

On your points about handling the government etc. They reported they had a good relationship with the TPDC and they had always had that as far as I am aware but the government changes and governments are goverments who do what they want to do, as you say we are in east africa and therefore playing perhaps by different rules. It was reported at one time that the Zubs met at Royal level to try and get things moving.

My biggest surprise is that people were expecting this dealing with the government to be an easy ride. They still have a PSA agreement in place which the government have to abide by but in that agreement it allows them to call the tune. All this information is freely available and this is partly why I don't understand the level of peoples anger.

As a final point let us think for a minute that TPDC maybe watching the views of the shareholders. I know they do to an extent because they follow and respond to my twitter posts but if you were their government and you were reading the fickle nature of the postings on here, would you not understand why they might be happier with a company at the head that can be sure of the financial support to progress to completion because quite frankly I would, if I had to rely on the kind of support shown on here in the last year.

Still we are where we are and I for one am looking forward to that rosy future :0))

Brian was there though wasn't he? He was the one steering the ship from inception I believe and at the end of the day the role of CEO is only to do the Bods bidding. Well that is what I have always understood.

I'll stick with what I say Pete, in that where we are now is a result of the things that were done in the past no matter how far back that past goes and every little thing along the way makes its own contribution

Hardnose, please don't lurk, do remain on the bb and discuss your points. I also call on those who used to post on these bbs to come back and have discussion. This bb used to be about the business and its future, don't let it have the life strangled out of it!

It's been difficult year for all involved but there is plenty of life in this old dog which will soon be given a new lease of life.

Could it be that the original decision to farm that out was one of those that dunder speaks of.... you know... one of those another fine mess you've got me into sort of decisions or was that in fact one of the early decisions that led us to where we ultimately are today with a fantastic asset from which we can all profit from.

I also seem to remember Tullow decided it wasn't for them but this Bod took the advice of Neil Ritson and decided to drill deeper. Of course that was another fine mess decision they took wasn't it!

You see, the thing is when you have an issue that rises it's ugly head, too many people lose their own heads and conveniently forget everything that led us to this point of opportunity.

These people made mistakes along the trail of course they did but you learn far more from mistakes than you do your successes and at the end of the day they have presented shareholders with a wonderful opportunity to make some real rewards

I find it a real shame that some of you want to hang draw and quarter them for that!

Very true Breeks the behaviour it is a total joke but you do not mention the names of the mudslingers who continue to attack me for having a positive view?

I am merely defending myself against the barrage I have faced since the AGM. Why have I had to do that? Because I simply don't agree with you and your fellow stock & board bashers.

I would willingly walk away from all that crepe and discuss things properly but they will not allow it. After the sad news at the weekend the first post of the night was to goad me followed by Apache with 5 out of 6 in 8 minute posts doing the same. You had a go and dunder had a go and I had said nothing for two days other than to post a memory post on the blog. So what did I say or do to deserve that behaviour?

Am I supposed to ignore all the shyte being thrown my way?

I ask genuine questions and they are avoided. Why? Is it simply because the things being said by some authors simply cannot be substantiated?

This board is a shambles right now and I am in a position of being ridiculed by certain people no matter what I say. I created a list and it was criticized. I changed the list and it was criticized. What do they want. Blood? and you are include in they.

You are all supposedly holders here and yet you talk the share as if on a financial suicide mission. You guys seriously need to look at yourselves in the mirror

Dunder how long are you going to pad away the question. You make claims but you are not prepared to substantiate them.

You are saying people should take notice of your 25+ years experience and yet you cannot answer me a simple question about what the Bod did to make the share price collapse back then? The question is and will still remain until you answer it!

Until then I will find you experience quite worthless because it doesn't tell me anything. It doesn't educate my lack of knowledge and all it does is make unsubstantiated attacks and snide remarks against me. If you want me to take you seriously come up with the answers I seek