Member Info for Drewky

That seems to be the way it is these days Dahmed I'm in exactly same position with AEX and PXOG as well as here and it seems if we don't get an RNS and 10% upward ReRate everyday people complain or sell up which both in themselves are self defeating. I prefer to look at the bigger picture GL

it is only 26 since Matt put the next drill into planning! Prior to that all plans would likely have been to work on bringing both back to back drills into production before pushing ahead. So firstly lets give Matt a heads up for putting preparation planning into place within 8 day's of the G8 failure Planning I assume involves deciding what type of rig is required, any additional equipment & supply requirements! From there it would involve tendering out for that equipment, sourcing supplies and the timing from there would all depend on availabilty. Now I don't know about anyone else but I certainly wouldn't be expecting a drill to be spudded until end of July/August onwards so anything sooner (and still a possibility) would be a bonus. Meanwhile we have flow results & production announcement to come in from the successful G6 drill so for me getting in now or topping up on this dip would be the right thing to do imo but as always DYOR

True BG but the point was to show Kimosabi that the TPDC were still supportive :0))

CP It wasn't incorrect the 90 days was for the minister to approve but as said below, he is only subject to that timeline once all criteria is met! Sadly that effectively left the door open for gamesmanship

Kimosabi The TPDC have indeed supported the development licence application and it was they who suggested applying for brand new licences rather than renewing old ones. So they are not against us as such! They want and need what we have in the near future but their brief will be to get what is best for the people of Tanzania so they will still play hard ball as and where they feel the need. The ninety day countdown was indeed put forward by myself as taken from the share agreement but I always stipulated as the document read, that within ninety days provided all criteria has been met, so the real question would be how many times the ball gets bounced backwards and forwards to get us into that situation and right now we don't know whether we are at 30 love, deuce, or advantage Tanzania. I suspect the latter!

The problem of perceived dented confidence comes from people who do not understand that any governmental process takes the time it takes, whatever that maybe! Ed can only ever give an expected timeline on such things and he would base that on what he has been told, while I feel the same frustration as everybody that is has not come through yet, I would hardly call that a failure of his and his Bod.

GL "multitude of things and relate directly to TPDC giving permissions" Please insert MANY after the word "and". Of course not all is down to the TPDC but the ministry have a hand in this too. I am not saying the Bod have done everything bang on, but in this situation there was no way that they were ever going to be in control of the timeline. The following are my thoughts only, on the possibilities of delay to KW caused by the TPDC & or Ministry. A few on here have been saying it is the fault of the Aminex Bod. The evidence is not there either way, but if anyone could give me a justifiable reason why our Bod would deliberately shoot itself in the foot and leave itself without cash I will listen because that to me just does not make sense! 1. We are likely being squeezed 2. TPDC want the disputed sum paying before allowing remedial work & they currently have enough gas for it not to be an issue for them 3. TPDC do not want to lower the pressures to a level required for compression to be a workable option 4. The ministry want us to drill before granting licence & committing to pipeline. Even if we could have remedied KW in the last month or two with the disputed figure to be sorted would we have got paid and if so how long before payments would begin? My concern (if sitting on the board) would be that if we spend all our money on this and cannot resolve the TPDC issues and return cashflows quickly enough then we would run the risk of running out of money! There is also the possibility that our remedial action could fail to produce viable results so that risk is higher! I think the farm out pretty much shows that we will run out if we don't get something done soon or at the least shows we do not have enough to follow through our plans through to profitability. As I said these are only some of the current thoughts floating my head as I circle the fish bowl but make of them what you will. I am merely trying to put reasoning behind it all and as said I see no reason at all for the Bod putting itself in what appears from the outside as a difficult position. Hard ball can be hard sometimes but someone will have to give ground sooner or later

and the same comment as last week and the week before that and the week......

Tarry you may be right on the likelihood of an EGM bolt on, although as with Vike, I'd have no problem with it but do you seriously think they have no plans put in place over KW? I think the delays there are down to a multitude of things and relate directly to TPDC giving permissions. My guess is that there is a lot of hard ball going on between all parties and because the stakes are so high they all want the biggest slice of the cake they can get. Personally I think we will know much more after the AGM but putting the spade into the ground could take until 3rd Qtr

And you've been trying to talk it down ever since! Self self self.

Well at this stage Mather I wouldn't like to say who will build and pay for the pipeline. Jay has taken at least two trips to China so who knows whether discussions took place on that front. But as you say and very importantly, the TPDC have supported the development plan based on pipeline after Ch1. It's been confirmed to me the application is in the hands of the ministry legislators by the TPDC themselves, so one more drill is definitely good enough for them. Of course the ministry may decide differently but TPDC are their expert advisors effectively acting like planning officers here recommending to committee

Mather Mick said he thinks that TPDC will demand that AEX drills more wells first (2-3 more wells?) and increases 1C volumes, before they will commit to investing in a pipeline..... So he seems to believe the independent experts are wrong and he is right The development plan has shown an 8" pipe will be commercially viable after drilling Ch1. So he appears to have greater knowledge than the experts and I'm trying to understand what he sees that they don't

Am I missing something? If there is going to be no increase why spend 15 to 20 million drilling it? What would be the point Mick?

Yes best wishes Capt.

I don't disagree Herts and it's always frustrating especially if under. On the timeline again I agree it would be nice to have but as I said before it's risky for Matt because any slight deviation and the markets punish you. Good luck I feel sure it will come good

Mick am I right in thinking you feel the independent CPR and commercial evaluations done by experts are not worth the paper they are written on?

Despair isn't the word for me. I could be much ruder! What part of a government controlling the time lines do you not understand? Don't bother to answer, no more conversations with you Dunder it's file 13 for you, I'll leave you to argue with yourself I'm sure you'll manage.

Not sure when you invested dahmed but I am showing a good return from last year's investment. In Matt's terms we have had a quiet month and after the failed drill and while we wait for results on the other I would expect some slippage. Nothing ever goes up in a straight line and traders help see to that during these quieter times but overall the virtues you were talking up only recently haven't changed and so there is nothing to panic about. If your comments are born of frustration then I understand but they won't change anything, we just have to wait and concentrate our minds on the good things we have

I think it is far more naive to place your money with people that you don't like, don't trust and think are incompetent in their jobs.

Dahmed you seem to have changed your tune in recent days, you have become very negative! Nothing has happened here to warrant such a change other than a few low volume days allowing some slippage as we wait for next news. If you believe in the share that shouldn't matter, if you don't you should get out. If you are doing a little rinse and repeat your change of view needs to be less obvious.