Member Info for Drewky

Yes Mather I am aware of that, thanks. I was pointing out earlier that I'd seen nothing to counter that since and the wording in the circular is strong enough that the licence will come before the farm-out is completed. If it isn't then it won't be until it is. Clearly stated government still in charge of the timeline, this I like because they are being clear who is calling the shots rather than relying on anticipated guidance dates from government. The true government answer is "When we are ready and not before"

Hi Jonah The circular is heavily weighted on the scare story side re the risks etc and for two reasons. One, many of the risks are genuine if we don't take the option things will be pretty grim. Two, The Bod are supporting it so they will want us to feel that we need to do it.

I believe we do too and I have little or no doubt that it will be voted through, so overall I don't really have fear other than obvious natural risks.

Tarry I both agree and disagree with your points

One you would expect me to defend the Bod and so I will but only in so far as it is the TPDC/Government that has backed them into a corner. But I do believe you may have a case that the reason the circular has come out before the licence may be down to the expectation they have given to us as a result of indication from the government.

Personally I have no expectation of the licence now until after the EGM but the wording seems strong enough to me to indicate it will come prior to the farm-out deal being completed however I hope you are proved right it would prove a nice pre-Christmas lift as we were all hoping for in this circular.

If you wished to put that motion forward I would support one that 2019 salaries revert back to those of 2017 pre rise based and justified on the tight cashflow situation that we will facing during 2019 as the reason for the resolution and additionally that the share value has significantly dropped.

I would not support it based purely on people thinking they are paid too much because the figure they did their rises on was based on an increased value which was the case at that time and much as people don't like it and disagreed with me, I personally cannot argue with them on that!

Right now I feel little has changed as we are no worse off than we were on Friday morning. In fact we might say we are better off because we now have the certainty of an EGM date following which around eleven weeks for the deal to be completed. Still much more to read!

Catch you later Pete busy myself. Event tonight! I'm puzzled though??? I haven't yet seen where it says the farm-out doesn't hinge on the licence being granted and as far as I am aware it still is one of those key events! I am extremley surprised the EGM is going ahead without that being already in place for without it, it will make the EGM a pointless exercise if it failed to come through?

In saying that, I do feel pretty confident from the language used that it will come through in time for the completion.

When all said and done as far as I've read so far nothing has really changed in regards to when, as we agree a drill might take place and if anything positive there is the benefit of the upgrading to 1.3tcf. I have some questions arising but no time to discuss right now

I think we all knew that though the a binding agreement was signed we were also notified it was conditional on certain events.

To my mind in theory at least, the binding stops the two parties from talking elsewhere and once the criteria is met then the deal should go through.

The company obviously can't guarantee it because some of the conditions i.e licence ext. granting is not in their hands.

Like I said not read in context yet but you are mostly likely right bearing in mind my support for you on the April onwards ch1

Can't recall myself about that maybe someone can confirm that one way or another

Haven't got to it yet Mather but do you see nothing in BGs post?

"There is a firm initial plan to produce through two existing wells and a third, new, well which Ndovu advise is planned for Q2 2019"

As said not read it in context yet but production Q2 doesn't sound like a kick in the teeth

Not happy that its is stated "currently implementing" rather than has implemented a program.

However having read the following...

"Key aspects of the Gas Sales Agreement include: take or pay provisions (meaning the TPDC purchase as much gas as can be delivered by the Kiliwani North-1 well),"

I'm sure we would all have been very happy with on initial agreement but it maybe the very reason we are being held back?

If TPDC currently have enough gas at the moment (I believe they do) why would they be in a hurry to get us back into production where they have to pay for what we produce whether they need it or not?

That therefore tells me a story and offers a perfectly logical explanation why we have not been allowed to go ahead. I may be wrong but I think there is merit in the thought.

Now I know some will scream bad management yet again but I very much doubt they would argue that a "take or pay" agreement was bad management even if it has bit us in the ass.

Just another point found. Still only got to page 11

Pete It has been admitted CH1 will take place as soon as reasonably practical after the completion which puts you bang on the money and April onwards unless it can be completed earlier.

Tarry I don't give a screw mate.

I'm raising points that we should discuss sensibly about our position. Throwing snowballs won't get anybody anywhere. We have to understand and discuss reality of where we are and where we are going. In less than a month we have to vote on it and I certainly have no intention of spending that month reading & arguing with people who have nothing more to offer than playing the blame game.

Your choice what you do but don't bother me with it I ain't interested. My money is too valuable

First Para relates to Mtwara ext.

"Board has been given a reasonable assurance from the Ministry of Energy for Tanzania of a favourable outcome before completion of the Transaction"

"Approval of the Ntorya Development Licence is neither a pre-condition for the Farm-Out Agreement nor is it necessary for the drilling of the Chikumbi-1 well"

Well Pete, I'm just sitting down to read it but if as people are saying it doesn't contain what I expected (to which I referred) then there will likely be another chance but equally with just three sells since RNS announcement I don't see a mad rush for the exit either.

I've seen people already saying this that and the other about what is missing and I will read for myself and take time over the weekend to digest it before I come to any conclusions.

http://admin.aminex-plc.com/uploadfiles/181207_%20EGM%20Circular%20(web%20version).pdf

Of course guys they should have written this in 2 minutes NOT!

Would you like to add a guarantee to that Wryape?

When the details come through I honestly don't see there being another chance and I'm personally looking towards a decent lift on Monday as I Expect (nice word) the detail may not come until late on.

Obviously I don't know the content but if it is what I expect then people might start to feel a little differently about just what they have in their hands

Seawolf. With Respect there has been an awful lot of shouting going on all morning about the RNS not coming and now it has which makes all that noise a little wasted don't you think?

Perhaps we could just wait and see now without all the drama? or will everyone keep allowing funny head to continue whipping up the storm and taking advantage of frustrated investers mood?

Guys and gals you have what you wanted it will be live today

No need for noise Specman just sitting waiting for the egg to land on the faces. It just did and as you can imagine I am very happy right now. Good luck to you fella enjoy your reading :0))

It is highly likely the final nod has only just come through, so now we await the uploading of the detail.

I expect there will be lots to take in so I hope people will study it and give it proper consideration before making rash judgements and jumping to conclusions.

BTW if funny head is watching, The Emperor has been on watch all day and has noticed the poor thing has been pining for him all morning. The Emperor would like a message to be conveyed on his behalf. "I'm safe and sound sweetheart don't worry about me xx"

"("Aminex" or the "Company") is today publishing a circular "

"The Circular will be available for inspection"