Member Info for Drewky

Found it.... https://aminexunofficial.blogspot.co.uk/2017/10/understanding-how-wells-are-drilled.html?m=0

Hi Vike check this out https://youtu.be/duToyzpZqos I do have something on the blog about it but not on lappy so this was easier to find :0))

Party party Irish? ;0))

Don't London buses come together :0))

There are also dishonest people in so called non corrupt countries

Very droll

Never say never Pete. Sweeteners don't always have to be made to individuals but in this case as the bod seem to see a computing error, I would imagine this can be resolved. At least they seem confident enough. I was thinking along the lines of the government applying the pressure for us to jump through hoops for the dev licence. Meanwhile I hope and expect our Bod will play similar hardball as in negotiations likes these, all sorts of games can be played! A the end of day though, I fully expect it will all to come out mutually beneficial.

or should I say via TPDC

+1 Pete but your last para. Like I said earlier I think there has be a game of brinkmanship going on and I even think maybe, just maybe, this disputed claim might be an attempt to apply pressure by TPDC. Strange it only came in on 11th April two days after they announced farm out discussions were in advanced talks. It might not be associated of course but I'm not sure I believe in coincidence!

I've had a thread removed. Not surprised some found it offensive enough to report although it was in jest but this guy cannot be serious about being a shareholder. I can't be reading that crap everyday when the sp doesn't go his own way, for all those I have ever called a moaner and whinger in the past, I take it all back, you have been beaten hands down in just a couple of weeks by this fella so file thirteen it is for him before I get myself banned. ;0))

Part two KW. In November the well head pressure had reduced to a point where it was lower than the minimum inlet pressure required by the plant and as a result the well was produced at fluctuating rates below 1.0 MMcfd. By mid-December 2017 the well head pressure had recovered sufficiently for the well to be put back on production with rates of up to approximately 9 MMcfd. NEGATIVE because the lowering of pressure was because output dropped below the inlet pressure and not so as to allow compression as I understood the reason to be. I am not sure our bod made this clear but I now fully understand why TPDC would be reluctant to agree to this! The Company has analysed production and pressure data acquired throughout 2017 and concluded that the well is probably draining a small portion of the greater Kiliwani North structure. The data also suggests that the well is showing signs of a slow recharge from elsewhere in the surrounding structure via leaky faults or baffles within the reservoir. The Company continues to investigate various options to increase production and recovery of resources from the well. RPS Energy (RPS) was engaged late in 2017 to compile an independent Competent Person's Report (CPR) on all Aminex's Tanzanian assets and this was finalised in February 2018. The new CPR assigned 1.94 BCF of 2P reserves remaining to be produced from the Kiliwani North-1 well. The Company continues to produce from its Kiliwani North-1 well at restricted rates while it seeks alternatives remediate the well. Due to inlet pressure limitations and fluid build-up in the wellbore, the well has been produced infrequently in order to maintain basic plant operations. NEGATIVE but not something we didn't know and another one negated by the following.... During 2018, the Company has undertaken a simulation study on the field and, based on a history match of past reservoir performance, the Company believes that an opportunity may exist to access unperforated reservoir capable of recovering additional gas volumes. Equipment required to conduct this work over has already been identified and pending further work on plant specifications and appropriate government approvals, the Company intends to re-enter the well. POSITIVE re-entry. RUVUMA. The Board had expected an extension to the Lindi Licence to be granted but subsequent discussions with the TPDC indicate the likelihood of being able to formalise an entirely new PSA in conjunction with the TPDC, which would enable further development and exploration to be carried out in conjunction with the Mtwara Licence area. POSITIVE looks like TPDC are encouraging further exploration. So at the end of the day I am very encouraged by todays release and just have the one niggle of uncertainty as to just when the dev licence will finally arrive. From this I am inclined to agree with Pete that it is looking more likely Chikumbi will be drilled first but hey ho 1.87tcf and potential oil guys and

My thoughts on the whole positive with a few negatives... Part one. 6.23 cash 2.7 net receivables. POSITIVE and as many have predicted. FARM OUT. We expect to conclude this agreement, which is subject among other conditions to shareholder approval, early in the second half of 2018.... The AGM will be held in London on 11 July 2018 POSITIVE delayed to allow completion. Planning to acquire 3D seismic, with the objective of fast-tracking potential development opportunities. Production from any discoveries in this area could be tied back to the Songo Songo Island Gas Processing Plant relatively quickly and economically. POSITIVE On 11 April 2018, Aminex received formal notification from the TPDC of certain claims amounting to US$5.97 million for liabilities arising on revenues from gas sales, of which Aminex's share is estimated to be $2.73 million. NEGATIVE however this is negated by the following outlook. Aminex has advised the TPDC that it does not accept the claims which include computational inaccuracies. No further provision has been made in the financial statements for the additional amounts claimed as the Directors believe the claims are without merit and are satisfied that the US$6.94 million included in trade receivables as owing from the TPDC will be fully recovered. POSITIVE. Aminex has been reviewing different funding options and is currently working on a farm-out of part of the Group's interest in the Ruvuma PSA to an affiliate of the Zubair Corporation, as previously announced. The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised. POSITIVE at first but the final sentance is NEGATIVE in that the dev licence could take until Jan 2020. I don't see that myself but the words used allows for it! The success of the Ntorya-2 appraisal well and the subsequent work on the basin model has led to a significant increase in the independently ascribed resources for Ntorya, which justifies Aminex's commitment to the region over the years. The resource potential should be commercially viable with increasing national demand in Tanzania coupled with the proximity of the National Gas Gathering System "enabling near-term production from the field". POSITIVE. Near term production. Early production options could provide revenues from Ntorya for the Group within the next two years UNSURE, I would have liked to have seen earlier revenues. Aminex is also seeking to expand cash-generating operations on the Kiliwani North Development Licence through the development of a newly-identified lead, Kiliwani South. If proved successful, this lead's proximity to the Songo Songo Island gas processing plant would enable the Company to generate revenues from two separate projects in Tanzania. POSITIVE The more revenue sources the better.

Not Really! It doesn't worry the directors... Aminex has advised the TPDC that it does not accept the claims which include computational inaccuracies. No further provision has been made in the financial statements for the additional amounts claimed as the Directors believe the claims are without merit and are satisfied that the US$6.94 million included in trade receivables as owing from the TPDC will be fully recovered.

Guys and gals I am sorry to say that I have to throw in the white hanky. No I'm not giving up on the share but needs must and sadly Jonah needs it to wipe away his tears. How many times did your mum tell you to keep out of the kitchen Jonah it is hot in there. You are going well over the top with your silly knee jerk reaction my friend. Slow down, read it all properly and let it sink in. You've been here 2 minutes and know diddly squat about what you've invested in. Prey god I never have to go on a ship with you. Jonah by name Jonah by nature you would talk a ship under the waves

My thoughts too Haggis a good possibility. No reason to delay the AGM two months otherwise

LT your views and opinions are equally as valid as anyone's and you have been here long enough for the full story. I do accept many of the criticism's you make of the bod but I also defend them for reasons of my own. I have served on a board and I know what it is like to have my hands tied behind my back. When I know what I want to say but simply cannot because of external negotiations or other outside influences. When I am hamstrung by companies that cannot meet the targets we have set! It was frustrating as hell at times and especially for me because I am naturally an impatient man on the whole! It was also difficult to face people you know and not be able to give them the full facts at the time. My call for patience is more pointing out the reality of our situation and that our Bod perhaps doesn't have the power to just plough through as we all so desperately want. I would hate for you to sell of more LT, I'd love nothing more than you to get your rewards here. I'm sure once these relevant agreements have been signed then we will be full steam ahead, I just feel this to the wire delay is for a reason

Fine by me Laks :0))

I wouldn't dispute that dunder as there are always possibilities and in fact that options amongst the many ideas and discussions we had over last summer. My main point being that whatever happens is requiring an extreme amount of patience because right now the speed of progress to some extent is out of out control. My fear here is that many shareholders are wanting to run before they are walking and I think they need to take a longer term view. I have every confidence it will fly when it gets approval but will it be Monday. We will see.

They certainly are here for all to see Taff "Not a company out there with a market cap of under 50 M with assets as good as ours, and that's not coming from me." Laks "Taff, I assume you meant mcap of 5M not 50M? ;)" I don't want to take sides here but as I said earlier Facts! Taff did not state this mcap was 50m. I'm damned sure anybody following this board regularly has seen that it was Matts statement because its be tweeted and posted on here many times. Nobody at any stage has inferred it is valued at 50m and everyone has agreed it was circa 5.6. What's the problem? It is all getting nit picky! Best for both to walk away and bury it!

I'll not go into everything Jonah but "what do you think the TDPC make of all this delays in fixing the problem" As far as I am aware everything we do has to be negotiated and agreed by TPDC so any delays will be down to the red tape with them as much as our own situation. If you read up, you will see that for compression to happen they TPDC would have to agree to a lowering of pressure. Point being they are hardly likely to be upset about something they have control over. I feel your point was contradictory to your other statement which I do agree with in that whatever happens will be done at the pace the TPDC and Tanzanian government wishes it to be. Let's face it we could find the biggest gas and oil field in the universe but if they are not ready to handle it what is the point. I'm afraid it is drip, drip, as it is required and that for us to profit, is going to require patience.