Member Info for jackpack

I don't see how we would really benefit from joining with wentworth long term. I think long term we would be better off farming out our other tanz assets. Other than that we need to get away from tanz and diversify into activities in other countries to give a wider base of activities.

It was the success of the last drill that took it to over 7p and it was all the 8p share options that may have stopped it going up more thank goodness they have now all expired. Tip Top sadly got ill and I don't think he had anything to do with the rise and I don't think he is involved in shares now. I think the share price here could well go to 7p and beyond again lets be positive .

Hi Blackgold00 Both our 25% and share price should be in a much better place in 12 months time .Better to wait as we could find ourselves literally short changing ourselves

Hi Blackgold00 whilst I think farmout of one of our other assets or even a partnership for a specific project" yes "a merger at this moment with such a low share price is a very bad idea it would decimate aminex. Mergers are only a good idea from a position of strength and for us at a much better share price down the line. The zubs are good business people and yes we would all like to see them grow the aminex business. Therefore what are our areas of strength at the moment - stock market listings main market london and Ireland , share of large asset in tanz and possibilty to farm out other tanz assets. Part of the zub family of companies in all but name thus borrowing money to grow the business not the problem some would think. So specialize in exploration or BH I remember did rather well at one point from memory selling parts to the oil industry lots of possibilities. It will be interesting to here other posters idea's. Myself I think specialize in exploration with zub backing in one form or another .

HI VIKE1 I too am a subscriber of oilman jim's private blog . He has been saying for some time that he was watching aminex. For those who don't know he is a specialist in small oil and gas with an ever increasing following of investor's . He often suggest's positions over a number of months once is criteria is met usually with good results. This bodes well for aminex. On a different note I have noticed the number of negative posts this board is attracting of late and cannot make my mind up if its lockdown blues or some posters wanting a cheaper entry point

vike 1 - I agree whilst the zubs are specialists in developing already discovered assets they may well have either other divisions or know of companies associated with them that specialize in exploration . Our other assets are often down played however we have had small discoveries using poor seismics data that today would be considered outdated a lot has happened in the world of seismic's in the last five years . Indeed one reason the last drill was so successful was because they did some up to date localized seismic work and I seemed to think they moved the drill location about 100ft although could be wrong. Thus with good quality seismic's who knows what might be there given small find's already. Lets hope the seismic's end up covering some of our other assets.

The fact that the RNS OF 25TH FEB 2020 states it when it didn't really need to in my opinion say's a lot. The company also has various documentary evidence if my memory serves me correctly from questions at an AGM a couple of years ago and I got the impression that it was not disputed by the tanz govt it was more they were delaying payment.

Hi Matherdi
Apology accepted. To look at this from another point of view this is a 9 million debt owed by the tanz govt a sovereign state which according to the RNS of 25th. feb 2020 they have accepted they are liable to pay. They may not have the best credit rating in the world but it does accrue commercial rates of interest as stated. Whilst we may be lucky and get paid in the near future or we may have to wait until they get increase in revenue from gas sales etc. The point is aminex one way or another if necessary can borrow against it as it is accepted as owed by tan govt. I'm not saying the full amount but at least 2 or 3 million should be possible maybe more if required and the interest rate should be approx the same as that accrued by the tan govt thus if ever required we have access to finance.

Hi Matherdj
I am not new to aminex I have been here for over 12 years and have attended most AGM'S both in England and Ireland as other such as Irish Mouse, Crusty Pete , will tell you." THE DEBT HAS NOT BEEN WRITTEN OFF " you are wrong . It would be classed as a material event and at very least would have to issue an RNS. Aminex is a main market listed company. Tanz is a country with debts and limited income and they are always looking for inventive means to get money hence the capital gains bill which was in essence a means of getting a little money for allowing the farmout. If you look at post 's at about the time they asked for this money many posters thought we should have received the money they owed first or it should have come off what they owed. However the company wanted to get the farmout done so we paid.

If we assume interest now at about normal commercial interest rates this would take the amount due from 6.7 million to over 9 million . According to the RNS of 25th feb 2020 senior tanz government officials in discussions now agree their is an obligation to pay the amount due however have to date not paid. So how do ensure we get paid and the zubs (matherdj I was very tired last night thus I kept putting jubs or at least that's my excuse) who are about to spend vast sums of money on gas in tanz also get paid. The zubs are very good business people with some very astute people working for them evidence of which is how they have cut aminex's overheads. The most likely way in my limited experience would be a separate gas distribution company which they run and they pay the tanz gov from income received( in other words they are in charge of the money coming in ). The tanz gov debt to us is transferred to this new company and their debt is paid to us over time from their share of gas sales which would probably suit them rather than having to find the whole amount now. This would mean that if the zubs were to give us an advance the tanz gov would pay the interest ( although I would think that aminex would have at least one million left from the cash consideration of the farmout) Although I could be wrong on both points and will be interested to read other posters views.

Hi matherdi - read the RNS 25th feb 2020 we are still owed 6.7 million plus interest and they think we will get it at some point. Thus if required a loan against this if necessary from the jubs. After reading some of the other old RNS'S I am left in no doubt that the jubs may have thought we were paying too much for directors services and they seem to have been on a mission to rectify this. Also wonder if the strategic options could be APT farming into our other assets which we seem to forget about these days? It would really make sense given there background.

Well I'm told oilman jim was advocating waiting until after a potential placing before investing - no need to worry anymore . Personally I never thought there would be one. Remember our main shareholder is the jubs. Basically why borrow from someone else when you have other business's generating money . Also they like well run efficient business's they have over the years learned the lessons of not wasting money employing unnecessary staff and the benefits of good financial control of overheads. Aminex is not the first business they have bought into , they are experts in the field of buying into companies with proven resources and using their skills to develop them -" thats what they do" and they are very good at it. Why would they be interested in the short term share price they are interested in long term value that aminex will generate and its eventual large cash surplus through developing the asset and the advantage of the main market listing - its at that point they will look to grow aminex from cash reserves. In the meantime we have 3D seismic's to look forward to and its probably the biggest undertaken in that part of the world ,it will be interesting to see what is found and the share price may well go up as a result back into the pence.

Regrettable I see two options for frr (1) it continues but probable with massive dilution for existing shareholders with the promise of big returns down the line which I doubt I have never come across a company where small shareholders come out well in such a situation. But hopefully other poster know of some. (2) Frr is sold with the goodwill of shareholders possibly with the Fshg group taking a more active roll . Given the new fast approaching political situation which will give confidence to a multinational, the fact that with small ahareholder support will be a large plus and if frr were to involve a specialist for the sale whilst this would involve some work to make it happen we would all at least get our money back and hopefully a profit.

The experience of " Eyeball Tickler" as he says in is post is just the sort of thing that I have been trying to warn against in my previous posts. It is all very, well not wishing to upset the apple cart but it could be a big risk for us ordinary shareholders doing nothing, that we could end up with exactly that "NOTHING" and others making the money a few years down the line when they sell up. In recent days we seem to be hearing from the odd supposed secret source who seem to be saying we will come out well as shareholders are they to be believed ?? strange . Have I worried someone by pointing out that if we complain to authorities and courts we will be treated exactly the same as a US citizen or is it that they are worried that as a group we hold more shares than any director and what would happen if we wield our collective power I wonder.

For those interested our last share price before delisting was .2875p with a approx 16 billion shares which equates to approx a market cap of 46 million . I personally don't think we will be bought out or relisted . At best I think we will survive with our shareholding intact with promises of future share holder value. At worst if we are not careful we could be diluted to almost worthless with others in years to come making a lot of money from the sale of frr. Although I could be wrong we could get a buyer and for each penny per share they would only pay approx 160 million (even at .5p its only 80 million) very cheap for frr and its assets in the scale of things.

Why in your view mad punter does my post translate to action against frr. Check my posting history I have been here for a number of years and I think shareholders should have some sort of presence in negotiations even if it is only some form of consultations with our legal team ( with whom we seem to have very little contact) . We are at a point where it would be so easy for the interests of shareholders to be brushed under the carpet and shareholders ending up with next to nothing and too late to do anything about it. Is to some extent ZAZA worry and hence is legal action.

I am starting to worry about certain posters popping up every time any shareholder posts advocating shareholder action over the last two years. Why I wonder do certain posters want shareholders to stay silent do they have information that the rest of us shareholders do not or have they got a hidden agenda ( I can see that any holder of large short positions would want if frr came back to be as low as possible to limit the damage also would such as SH want to keep the price low for a variety of reasons ) . I cannot see how shareholders making themselves know can do any harm only good and if we are bought out it could make our shares worth more certainly not less !!! as everybody knows proactive shareholders are often treated better.

Thinking about it if ZAZA did not institute proceedings he would be a major shareholder with no idea what is going on or say in discussions - not a good position to be in very worrying if you have a lot of money tied up in frr. Should we shareholders take a leaf out of is book and at very least contact our new legal team and inform them of our shareholder group which can demonstrate large shareholder support. We have some very good people such as mole, oopsi, the old trout, devex who i'm sure could be most able at fighting for shareholder rights in any restructuring discussions. I think ZAZA may well be worried about been taken for a ride should the rest of us not be similarly worried. I think we are in the end game now and if BOD think we are a pushover as we have not really created any waves in over 2 years they may well think we are not important. By the way I'm told who had a little knowledge of US law that if we contact the judge in each of these cases he must ensure shareholders are treated fairly weather US shareholders or uk shareholders according to US law ( They cannot treat us differently to US citizens)

The big question is will we still be able to drill this year if we don't get the go ahead for a month or two given the weather in that area or will it be abandoned until next year . I confess I am new to this share and do not have the in depth knowledge that some posters have.

HI Irishmouse, last throw ,Crusty Pete and all the other long term shareholder I am still here and look in most days. Its been a testing year for virtually ever body on the planet and I can well imagine some of the posts from the captain if he were still with us . They certainly would have been interesting to say the least.

A VERY MERRY CHRISTMAS TO EVERYBODY

GRAHAM