Member Info for matherdj

Rubbish. If the well was 'fixed' they would have released flow rates. This is just an attempt at a sweetener. Glad to see that they have at least achieved something of late.

We were told that the system was all interlinked and not compartmentalised. Nt3 wont increase the size of the field by itself, just allow gas to be extracted. Nt3 is pretty much nailed on but ch1 is the target now and 8% cos.

'In place' not 'in please'

Drewky, the farmout cannot go through without the license in please. One of the conditions states

'The Farm-Out Agreement is conditional upon a number of matters being either satisfied or (where
applicable) waived, including:

the Mtwara Licence being granted in a form satisfactory to both Ndovu and the Farmee;'

Obviously the risk of a license not being granted is a lot bigger than just the farmout.

Hopefully end of August for results. They have plenty of time to get this through for the start of the next dry season (you'd think).

I'm on mobile too now dunder, but if you are asking if it specifically says the dev license isn't required then yes it does.

For the here and now I mean anyway.

License extension is the only thing I think Dunder not dev license. Also AEX will be liable for any claims relating to prior July (I think it was July).

"it has merely crystallised all our combined worst case scenarios"

I think I agree. I'm struggling to find anything positive from this.

The take or pay doesn't apply until the COD (commercial operations date) which was never declared (from memory).

I don't see what could be said that would be positive? No movement on kn1; 2.7m dispute still ongoing; no confirmed license; ch1 delayed to q2: EGM not till the new year and they're in a crap financial situation without the farmout after discovering huge amounts of gas whilst having millions in the bank at the time. Pat on the back to the BoD but a bigger one for whatever has really driven us here. You couldn't make it up.

Tarry, that's the development license not the extension which may have not be so assured until recently. but I do agree this seems to have been delayed more than needed. This really is a disappointment in so many ways.

There really is very little in their Drewky apart from warnings of what they wont be able to do if the deal doesn't go ahead. 1.3tcf in the lower target is the only positive and maybe the 1.2m cost for the seismic over Kilwani and nyuni shallow shelf. Lindi license not part of the farmout also. Why the wait to release this? Just doesn't make sense.

Great news but no license yet.

They've updated the website with the RNS news so a little strange they haven't published the circular details at the same time. Lets hope its up there today.

Not yet Dunder that I can see. It will be interesting to see what info is in there about the farmout but cant see it revealing much more than already known.

In the new year then. No other news by the looks of it. No surprise.

Not holding my breath for tomorrow. Pure speculation on my part but I would have assumed when telling us it would be this week he would have had some contingency in there which has already been used up. Suggests to me its slipped already from their expectations when making that statement. Lets see.

Chill pills or an RNS confirming the EGM Drewky? 2 days to go and no guarantees, just fingers crossed.

Certainly not happy crusty but for now there is not much that can be done. The farmout must go ahead or aminex is cafooked thanks to our current cash/income position. I'm surprised there has been nothing from majedie but I guess that would all be behind closed doors. Maybe after farmout something could be done about the bod but with the zubs having almost 30% of the vote it's almost impossible. I still see plenty of value here if it goes ahead but the upside has been hugely reduced and timing is of the essence.

Orca have had their problems and Wentworth haven't had to negotiate anything much in the last couple of years. Dyor.