Member Info for NorthernMagic

let down by bad management both in the past and currently. Do people think this is the case or is it events that have happened that have resulted in Aminex being in this current predicament? I suppose nothing can be done now but the current management like previous management aren't filling me with a great sense of enthusiasm and optimism.
When is the next scheduled event that the current management will provide us with an update - would be good to have any positive news at the moment from the company and what is happening re those millions that I believe the Tanzanian government owe Aminex?
Atb,
Northern

Fingers crossed for the converse outcome and a positive effect on the sp. Hopefully, we will get to know in the next 4 to 6 weeks.
Atb,
Northern

Do you mean 0.3p Safetyman?
Atb,
Northern

I notice the sp did a bit of a jump earlier in the day and then settled down towards the end of the day. Any particular reason? Couldn't see any news today.
Atb,
Northern

here. I think when it comes down to it you either think this is a decent company and worth investing in or you don't. You pays your money and make a choice. I cannot answer Brasso3s questions but I think there are a lot of companies who are not progressing forward like President are at the moment - especially in the year we've had. I'm just hoping they continue to do so. If not it's my choice whether to continue being invested or to take my money and invest elsewhere. As I always say dyor and imho.
Atb,
Northern

I'm afraid I cannot answer your question re the past decisions Brasso3 and appreciate lots of investors have lost money here. All I can say is that the current state of President and future - although with oil and gas companies it's always a risk, to me looks very promising.
As always though please dyor and all imho. Don't invest your hard earned money if you feel it's not going to be worth it.
Atb,
Northern

in President Energy's existing fields. Sounds very interesting and encouraging in terms of what AParky posted last week re the huge potential the fields in Argentina have as well as the upcoming exploration in Paraguay.
As always dyor and all imho.
Atb,
Northern

Ohmetoe - absolutely,
Seems odd that selling is happening at such low prices, you would think they would want to wait for higher prices to offload and make good profits but I don't know much about the selling strategies of large sellers. It's very frustrating that all the good work President are doing is being annulled by this selling.
Let's hope they can make good progress soon.
Atb,
Northern

Ohmetoe - absolutely,
Seems odd that selling is happening at such low prices, you would think they would want to wait for higher prices to offload and make good profits but I don't know much about the selling strategies of large sellers. It's very frustrating that all the good work President are doing is being annulled by this selling.
Let's hope they can make good progress soon.
Atb,
Northern

and interesting week. Possibly new news on further progress from President this week. Exciting times with all the progress in recent weeks. Here's hoping it continues.
Atb,
Northern

Probably a poor choice of phrase on my part. What I meant to say is he probably sees a 'marriage' as preferable in terms of funding rather than chasing the money owed from gas sales from Killiwani - but then we cannot really know as we aren't privvy to what they are currently doing.
Atb,
Northern

Totally agree Gaslady,
My gut feeling though is Robert Ambrose - not sure who is advising him sounds like he's following his own agenda looking for that 'marriage' but yes if we are owed the money and have a time gap to fill - I absolutely agree why wouldn't this be worth pursuing.
Atb,
Northern

Thanks for the info blackgold00,
Thought they had done a raise for the remedial work and thanks for clarifying that this sits outside the Ruvuma licence funding. I'm assuming there has been no update on this since - and this is one of my frustrations - only seem to be informed of the information they want to drip feed us. No sense of progress and I think the last presentation was last year. Also, I think Robert Ambrose has only given one interview. Not great PR and a few years ago - albeit under different management we were told this would improve. All we seem to have is a go between company the company that fields our questions - Camarco and we never seem to get real answers. Maybe it's just me but I do think we deserve more from the company.
Atb,
Northern

Yes, the this was a bit out of context - I was replying to blackgold00s earlier comment and the perforation strategy.
We never really seem to get to know where things are really up to with Killiwani North and how close, if at all they are to start generating some revenue again.
Atb,
Northern

Just wondering - now there is a new operator will they be in charge of this activity, or is that outside the scope of what the new operator will be doing - i.e. Aminex should be continuing with this. Also, didn't Aminex do a raise of capital to address the Killiwani North issue?
The frustrating thing now is how do we get answers to these kind of perfectly legitimate questions?
Atb,
Northern

Thanks anyway Aparky,
I honestly wasn't aware of this and is great to know of the potential. I'm not really sure where this fits into Presidents plans but it is great to know it's there.
There are some very odd valuations compared to potential at the moment, so hopefully as some of that potential starts to be realised we will see an increase in sp and market cap.
Atb,
Northern

Wow!!
This is amazing detail AParky - is it on the President Website. That's a huge amount of gas and a 10 times increase on the originally stated 14million barrels. I'm really surprised I haven't heard about this before from President and that lots of the emphasis is on Paraguay.
The only thing that seems tricky is the 25% chance of success - no idea how they get these measurements - but with increased knowledge and know how presumably President can improve on that. Success, on some level in this area would make President into a totally different company - and obviously has huge implications for the sp. Thanks so much for sharing the detail AParky.
Atb,
Northern

Hi AParky,
Thanks so much for the info provided. There's been a lot of drilling activity recently and I got myself a little confused thinking The LB-1001 development well was one of the big targets but I believe this is 6BCF of gas. Sounds like the bigger target with a P50 possible result of up to 14 million barrels of oil is the EVN-x1 well and associated structure - as they say in their RNS - where the structure as a whole could containbetween 5-14 Mmbbls of oil in place and between 11-26 Bcf of gas. At the upper end that's a fantastic result - even somewhere in the middle of the range that's a very good result. This latter well is in the Estancia Vieja field.
If the MDT is in Salta (Puesto Guardian Province)and owned by President and has another potential of 14million barrels then things are really beginning to stack up.
I also noticed so far for 2021 they have stated the following intention for drilling
Rio Negro, Argentina (3+ wells)
Salta, Argentina (2+ wells)
Paraguay (1 well)
Plus probably more workovers and other drilling if current drilling highlights further opportunities.
So, to me this continues to say that people aren't just getting what President are doing in Argentina and how big a year 2021 could be for them. Thanks again for drawaing my attention to MDT I wasn't aware of that potential.
Atb,
Northern

Two companies Aminex market cap £24m and President Energy market cap £31m.
Aminex has a fantastic resource but will not be starting to drill until early 2022(fingers crossed) and
President Energy - good assets current making good progress with bringing some of those assets on stream - oil and gas - and potential big exploration upside in Paraguay next year.
Which of the companies do you think will be worth more - in one years time and in two years time?
I suppose what I'm trying to say it just shows the difficulty of deciding which company to choose for a short to medium term gain.
Atb,
Northern

recently. Is there some potentially good news on its way?
Atb,
Northern