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The read across from Angus is a demonstration of how the gas market has changed, but the stock market is yet to catch up . Aminex has got to be the only company that's sitting on a huge gas discovery worth billions of dollars, with a fully funded partner, yet it's at it's lowest sp.

The seismic acquisition and subsequent interpretation will seek to refine and confirm the exploitable gas resources of the Ntorya field. As previously announced, through a re-interpretation of the existing 2D seismic dataset, APT's revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf (8,236 Bcf unrisked), in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf (5,419 Bcf unrisked).

The total unrisked GIIP at Ntorya is 8.236Bcf. Mean unrisked recoverable is 5.42Bcf and risked recoverable 1.990Bcf. I bet some of that 8.236 Bcf gets increased after the 3D seismic, or gets moved across into a higher mean unrisked recoverable than the 5.42Bcf, and a higher risked recoverable than the 1.990Bcf. I'd go for total unrisked GIIP of 10Tcf. Little indeed, Ha! Someone's in for some nasty indigestion it would seem.

I think Australian rules on well drilling commentary are different to the UK. Therefore, I think there will be announcements at each casing point. Imho.

Yeah, doesn't say much for Wentworth and it's prospects if they have to buy their own shares to support the sp., although it is a large dump of shares, but no one else wants them.

Share buy backs are not usually good. Usually a sign of defunct management and lack of ideas.
It would be good if we had some director buys here at Aminex.

Yep agree with that bg. We know Aminex are looking to farmout. A nice project for a partner. Do the 3D seismic and drill Kiliwani South. Wentworth could blow all their cash on buying Sciroccos' 25%, but is that too much money to be splurging in one go? Especially as they would then have to spend further on the upcoming operations. Maybe Nyuni is more attractive, by being in control, with a larger operated %, drill Kiliwani South and do the 3D seismic, and build a gas project that would self fund from Kiliwani South production.

We might get an RNS to say trucks on site and working.

3D seismic starts today. Early results in January confirming quality and definition of structures at the drill site. Should be fun.

oh, I get it all right. Lol

Come on guys. Get with it.
ARA are pumping $140M into Ntorya. How can that be a temporary strategy. Comedy gold. Lol

Aminex have assets that they can farmout to an operator. As for acquiring new assets. This is not part of their strategy unless it's with a partner who will be the operator.

I would just feed a few buys in gradually. If it goes down, you get in cheaper. If it goes up you'll make some profit on initial purchase. One things for sure, this will be going up next year. SP this time next year 7-10p

Shouldn't take long once they get going.

Alcapone1, I think the £250k was for opening the stuck valve, but this didn't allow the gas to flow due to water build up in the formation. Aminex raised £1.85m at 1.45p in a placing from the Zubairs, to re-perforate the well in the lower gas zone and work over the well to deal with the water. Still awaiting approval for the workover, which hopefully will be soon. I guess the £1.85m was used up in the meantime.

The Ministry of Energy took part in the work programme presentation as an observer. I guess they will approve any programme if it meets requirements or would have given their own opinion if not.

THE Petroleum Upstream Regulatory Authority (PURA) has kick-started a string of meetings with petroleum exploration and production companies operating in the country aimed at discussing companies’ work plans and budgets for the coming year. Through these meetings, the license holder (the Tanzania Petroleum Development Corporation – TPDC which is also the National Oil Company - NOC) and its partners (International Oil Companies – IOCs) are presenting the performance of the approved work plan and budget for the year 2021 and put forth the work plan and budget for the year 2022 for PURA’s approval.

Approval of the work plan and budget is one of the responsibilities conferred to PURA through section 12(2)(d) of the Petroleum Act, 2015. In addition, Regulation 32 through 39 of the Petroleum (Cost Recovery Accounting) Regulations, 2019 have put it succinctly clear the modalities of executing these annual work plans and budget meetings. The modalities cover a gamut from the establishment of the work plan and budget approval committee to the approval of the proposed work plan and budget.

Speaking at the opening of the first meeting held yesterday in Dar es Salaam, the chairperson of the approval committee Eng. Fabian Mwose from PURA explained that these meetings are crucial to both the Authority and companies since the parties get to dive deep into proposed activities thus bringing about a common understanding among them. “These meetings are fundamental in setting basis for monitoring of planned activities in the coming year. It is also an opportunity to discover implementation gap for the previous year and improve compliance in the subsequent year” Added Eng. Fabian.

This year’s meetings will see eight companies seeking the Authority’s approval of their plans, a critical step before implementing any activities in the subsequent year. These companies are Mourel and Prom Exploration Production T Ltd (Mnazi Bay and Bigwa Rufiji Mafia Blocks); PanAfrican Energy Tanzania Ltd (Songo Songo Block); Equinor Tanzania AS (Block 2); ARA Petroleum (Ruvuma Block); Swala Oil and Gas (Kilosa Kilombero Block); TPDC (Mnazi Bay North Block; Shell Exploration and Production Tanzania Limited (Block 1 & 4); Ndovu Resources Limited (Nyuni and Kiliwani North Blocks). The Ministry of Energy is taking part in these meetings as an observer and TPDC as a license holder, is a partner in every block and therefore appears in meetings for all blocks.

We don't know what was presented to TPDC and PURA, but clearly it will have been something that will be likely approved on the basis Aminex knows what work will be involved, the cost, and what it is that would meet approval, otherwise why present. The strategy Aminex presented is yet to be revealed.

Aminex have presented their 2022 work programme and costings for Kiliwani and Nyuni to TPDC and PURA and are awaiting approval. We await the result.

As with any oil and gas operations there is always that risk. However, it's clear there is an unperforated gas reservoir at KN-1. This is why Aminex may elect to bring in a partner to take part in KN-1 and do 3D seismic and drill KS-1. Options available.

The joker RNS that could come anytime is the Kiliwani North well receiving approval from TPDC for gas production. Does this fit their non operating strategy. Option of Kiliwani North being a sweetner to a farmout partner in return for conducting 3D seismic and drilling Kiliwani South.