Member Info for edgar222

Note to self. The licence is only the start. The licence is only the start. Repeat.

I confess to nervousness at the news of the Tz Govt re-opening the LNG negotiations. Essentially ripping up the agreements and seeking more from the investors. I note that the new minister (and deputy PM) is at the forefront of this. And he is the one we have been relying on (in the media) for the fact that our licence is approved.

Have been wondering if it was just me.

So the reason I am satisfied its all ok (I think) is that those media reports from the LNG issue suggest that it was the cabinet that sent the agreement back to be re-opened? Whereas the media reports relating to out licence suggest that cabinet has rubber stamped/approved the licence.

Am just setting this out so I can be corrected if anyone thinks I have this wrong.

Https://twitter.com/EdgarTwo2/status/1785626694646116352?t=vAk7zlYU_SdxFa5AcezXBg&s=19

Https://allafrica.com/stories/202404300162.html?utm_source=dlvr.it&utm_medium=twitter

"The Problem We Are Bordering on Oil,”

"Keep your words to work, the problem is that we are very close to oil, whoever has the power should work and do it if he knows that he has carried all Tanzanians," Deputy Prime Minister and Minister of Energy, Dr. Doto Biteko speaking at the fourth Conference on the Participation of Tanzanians in strategic projects and investment in the country held in Dar es Salaam."-Deputy Prime Minister and Minister of Energy Dotto Biteko"

Great spot, Page

Have bought more this morning. Last chance saloon for cheap golden tickets, IMHO.

Eclipse owns Ara Petroleum and just under 30% of Aminex.

So it is our Major, the operator of our field and our major investor giving a sub on preferential terms. More support. If evidence were needed of the continued intention to keep Aminex in existence, as opposed to taking us out, this is more of it.

Preferential because there is no repayment. The loan is set off against the farmout.

All good with me. Removes a doubt for the numpties out there.

Also all good with me is how much of our farmout carry is left. Future looks bright.

This could just be The week.

But remember. The licence is only the start. So much newsflow and re-rate to follow the licence.

Good luck

Https://x.com/memd_uganda/status/1783846124018675809?s=61&t=qBcoKadtpeaziPRqZIXyxg

I certainly agree, Roger, that the tweeting starting up again is not just coincidental. It started on the same day as the press reports of licence sign off. It does suggest they know its coming. The absence of an RNS gets more curious with each day. Maybe the Govt really is waiting for a ceremony? It can't be that Ara are not giving them information to put in the RNS, surely?

Am still hoping for an expanded multi-well plan! But licence, reserves/resources improvements, CH1, and announced workovers will do too.

Roger (and others)

Surely the important word in the recent press on twitter and elsewhere is "extraction".

A licence to explore is what we have had. A licence to extract (produce and develop) is what we want. The former is not news, the latter is.

If they are doing a signing ceremony, from memory the last one (the GSA) kicked off the share around noon UK time...

I still don't care though ;). It is when not if.

Cperkin

I remember 8 wells too. Got to be a chance they will keep going with the drillbit after CH1 and Ntorya workover and not pause?

Https://twitter.com/EdgarTwo2/status/1756620546773487845?t=I37GXfEOAdDfeIK56fYaeQ&s=19

Just let those numbers sink in....

"World Class Giant"

Https://twitter.com/EdgarTwo2/status/1780365652265423297?t=30FfD2mr8VKMZgdTprrSDQ&s=19

Wrong board sorry

Https://twitter.com/EdgarTwo2/status/1780365652265423297?t=30FfD2mr8VKMZgdTprrSDQ&s=19

Online translation app used

🤣

Hardnose

For any institution looking at Aminex the first question is what do they own, what are their assets?

At the moment the answer is nothing. Because of the licence. When the 25year licence is confirmed then ownership and asset status is confirmed and the value of the up to 16TCF can be applied. That won't happen in a day. It will take time. But every piece of news that shows the field is being brought to full development/production will allow the market to bring the price more into alignment with the real value. That (for me) is why the seismic update has not impacted yet. (Yet underlined).