Member Info for Drewky

Of course you are right Tarry, how wrong of me to turn a positive into a positive while you seek to show as many negatives as you can.

They defaulted on their payments simple as that, that was not an Aminex decision and Aminex are not the only beneficiary! There are two further partners.

"The transferred interests include all rights and liabilities except that Bounty will, pursuant to the joint operating agreements, remain liable for its share of any outstanding work commitments and abandonment costs."

Also thanks for reminding us (again) of the obvious about cashflow as we wouldn't want anybody getting the idea this is a good thing for Aminex, woe betide anyone thinking it might be worth an investment.

We just gained 6+% Aminex's interests in the Kiliwani North Development Licence (which contains the Kiliwani North field and Kiliwani South prospect) and the offshore Nyuni Area PSA have therefore increased by 6.383% and 6.6667% respectively. Free gas

Well, if so that would be a worry for Solo not for Aminex. Statement of fact is that willow? Deliberately and are deliberately planning doing same to Solo? Just for your own personal sake I do hope so :0)) Also I'm not sure where the worry is with TPDC as in worst case scenario we would just pay the disputed sum, much, if not all of which has been held back from payments due to Aminex.

Can only manage 4% here at mo. Another two hours for the £3 seller to strike yet :0))

Investments keep coming - Mineral sands developer Strandline Resources has signed an offtake agreement to take all or pay

"The $30-million, two-million-tonne-a-year Fungoni project is expected to produce 302 300 t of saleable mineral sands product and could be delivered over the six-year mine life, generating life-of-mine revenues of $168.1-million."

http://www.miningweekly.com/article/strandline-signs-another-offtake-agreement-2018-10-03

I notice their gas demand growth since 2017 was 166%

Yes thanks HY it's music to my ears to have the demand confirmed by another source and the fact regular payments continue has to be good for us all.

Pete - I'm hoping (not expecting) the disputed sum will be agreed at the same time as the deal is done (I think it possible it may have been used as a little bargaining chip)

Remediation completion goes without saying

Should be seen as a good sign

"Given the consistency of payments received to date in 2018, the Company no longer intends to release monthly updates to the market. Such information will be included in regular Corporate and Operational activity RNS updates."

Kenya and Tanzania fear impact of sanctions, stop Tehran oil, gas imports

http://www.theeastafrican.co.ke/business/Kenya-Tanzania-fear-impact-of-sanctions-stop-Iran-oil-imports/2560-4783964-a8ocikz/index.html

Tanzania confident natural gas pipeline to Uganda will start in 2021

https://www.worldpipelines.com/project-news/28092018/tanzania-confident-natural-gas-pipeline-to-uganda-will-start-in-2021/

News on aquisition imminent he says but I'm still disappointed no mention of next drill so far. I'm sure it will come but surely while the oil price is high we should concentrate on getting what we have out of the ground I'm still going strong buy based on the low so at the moment

hardnose I have recognised your points and have said so and in doing so I have merely pointed out the basis of my calculation. As stated it was a full on maximum potential nothing more, nothing less.

Potential, means might be - If, means might be - I used the word IF three times and POTENTIAL once in my post - IF people chose to ignore that in their rush to criticise, I cannot control that.

BTW I do not aim that comment at you, as you have clearly made it a discussion between us rather than an attack
which is the way it should be.

IF, I had wings I might also fly but it doesn't mean I will, right now I have to go by car :0))

“Multiple Targets - 763bcf cretaceous 900bcf Jurassic Gas - Oil at the lower level - Oil shows found down dip at previous drill”

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

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 - Completion expected by end November APT committed to spending up to $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 to acquire 50% of the Ruvuma project with Aminex retaining 25%. Solo Oil hold remaining 25%

“APT will establish an early production system to achieve an accelerated first gas to 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!"

"Any further spending will be self-generated"

**“Chikumbi-1 well pad is complete - planning to drill this year” RIG TENDERING COMPLETE

“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 WORK UNDERWAY - FURTHER PERFORATION OF LOWER LEVEL EXPECTED COMPLETE BY CHRISTMAS https://www.youtube.com/watch?v=QQhhGwR4TZo

**Aim to bring drill ready target at Kiliwani South via 3D Seismic 2019 combining Nyuni licences to save costs & provide better Data Quality & Use.

Competitors running maximum capacity & demand forecast to outstrip supply 2019

**TPDC AGREEMENT SIGNED FOR PIPELINE CONSTRUCTION TO UGANDA (Aminex in pole position to supply)

Malcy Comments “Bucket list status assured” "It's in the bucket, it's for a good reason. The value of this asset is high!"

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

Quite right cp but of course its not worth investing in because might as well be totally worthless according to some.

Yes I understand much of that hardnose and I stated at the off what my figures were based on and there is absolutely nothing wrong with those figures which are based on the maximum potential of the full hit of oil coming out of the ground at todays prices.

If that were the case I would not be wrong would I?

Of course if people want to make a big issue of it because it doesn't suit them that's their problem. I have been clear about my figures and how they have been achieved.

Nearing target - Incoming tracer :0))

Hardnose, coming back again to the link I requested. Have just done a search and according to the Garb & Wood rule in ground valuation is also known as the 1/3 rule

https://petrowiki.org/Real_options_analysis

Hence the current in ground valuation per barrel would be $26.66 per barrel so your P90 SP value would add circa 80p and P10 would ad circa 8p

Now again, I've not done the SP equation and the above is based on your own figures

So Pete you because it is not in this recent presentation you choose to ignore the fact that that have publically stated they are targeting oil.

Now as far as I'm concerned they are the experts in the field and you are just a speculative investor like the rest of us but you seem to think you know better! You would have us believe that there is nothing but water down below and who knows maybe you are right but if they believe that, do you really think they would waste time and money targeting it?

It's called exploration for a reason and it is a gamble. They feel there is a high possibility of finding at least gas but are hopeful of liquids, it's as simple as that.

If it is just gas, I will be highly delighted but the experts believe there is a possibility of oil

Hardnose I wasn't aware of the in ground valuation being just $10 but I can see the possibility of your point because of real time fluctuations in price it maybe there is an inground valuation as such. Can you point a link to show me this please, so I may understand it better?

However at this point in time oil is circa $80 per barrel or was until recently.

I'm going on your own figures here because I haven't worked out what it may be in terms of share value but if you say the P90 is optimistic but worth 30p per share in ground at $10 then surely if oil comes out of the ground when the time comes, based at the current $80 dollars, then that would be 8x 30p = £2.40 per share would it not?

Equally on a P10 worth 3p at $10 inground then out of ground at $80 would = 24p per share? Still bloody marvellous eh?

All I am doing here is showing there is potential for a huge upside. We know what they are targeting and we know that the target is circa 900bcf which is undeniable. (My figures are not incorrect, they are showing a maximum potential circa recent price).

Any commercial amounts found in that potential pay zone, whether it gas or oil should prove to be a huge boost to the SP - The shear fact alone that the Jurassic level is an exploration part of the drill shows there is no guarantee but then when did investing in high risk O&G companies of any kind offer a guarantee. The potential is enormous and that's all I can say!

You are really are showing your true colours now Pete. You know damned well there was oil shows at NT2. You also know damned well that they are targeting liquids at the lower level. The truth must be really painful to throw your reputation away like this.

Do you want me to provide links to those too? Here you go...

Oils shows - Page 7 http://admin.aminex-plc.com/uploadfiles/20170307_Ntorya-2%20Appraisal%20Presentation.pdf

"To further appraise the Ntorya gas field and to test a deeper, potentially oil bearing, zone the operator has proposed a further well, Chikumbi-1 ("CH-1"), to be drilled in 2018."

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SOLO/13698390.html

You can't discredit the truth Pete, but you can discredit yourself and you continue to do so!

If you want to call the truth an advert, or ramping, then go ahead I will unashamedly advertise or ramp all day and all night! As long as it's the truth I have no concern.

The truth is the truth but opinion is worthless! - if it is oil or gas down there, it doesn't matter to me because it will still be worth a fortune! I don't care which it is and even without it what we have is still worth $40million per annum