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grsshaw, thanks again for your nuggets of research.
It's clear that TPDC are able to pay their invoices. Maybe WEN are just more robust about asking for payment, or TPDC feel they can just dismiss Aminex for whatever reason, perhaps because Aminex was producing less gas. Either way, we can only now assume payment will be coming now that Samia the new President has ordered ministries to pay unpaid invoices and encourage investment and business and not delay any longer.

Obviously if TPDC have a history of non payment for gas produced, then this causes a problem for future investments. Guarantees will need to be given for future payments of gas if ever investment is going to be secured and farmout partners come onboard. I guess this would require some robust conversations to pin down these uncertainties and guarantee an undertaking by TPDC.

You must factor in the time passed and then re-evaluate if Aminex are nearer or farther away from being paid the money they are owed. Based on time passed, one can justifiably say they are nearer to being paid. The robust conversations are not about whether the money will be paid, as this has already been acknowledged by TPDC, but more about what happens with future gas production and the guarantees needed that there won't be another non payment situation.

matherdj, feel free to have a cynical view. It's important to know what you base your postings on to help understand where your own assumptions come from and then decide if you are reading too much into things.

I believe that when the company says things, it is a reflection of their honest intentions and the situation. As in all cases, events can happen that get in the way of those intentions, which is always a risk and not as a result of anyone being dishonest. I hope you can see the difference, but feel free to have a cynical view.

matherdj, You might have guessed I have a cynical view of the backward looking posts on here.
As cynical as the stale, crusty and negative posts about Aminex. But, I do prefer to make forward looking observations based on actual news and what the company says, rather than historical events. I find it helps to keep a balance and keeps things real.

Blimey, next thing they'll have you try and believe is there's no plan for any 3D seismic, there's no increase in gas volumes to 3Tcf and there's no Chikumbi drill. You've gotta laugh.

grsshaw, thanks for your analysis. Lots of nuggets of information. To me the annual report and last update RNS indicates there is lots to look forward to. Plenty of work going on in the background that supports the wall of news that is building.

blackgold, My thinking exactly. A partner is just waiting for Aminex to receive the money they are owed from TPDC and TPDC are fully aware that if they want further investment and gas produced, then they need to pay their invoices, otherwise major oil and gas companies aren't going to invest. Expect this to be resolved soon and another farmout announced.

Robust discussions sounds juicy.

I personally think there is a farm-in partner for Nyuni and Killiwani South. The investment needed to do the 3D seismic and drill the wells will happen once TPDC pay the money they owe. This could be the reference to the hold up in further investment.

There is a reconciliation process ongoing over force majeure, delays in passing regulations and approval of environmental authority. Shareholders would be the first to criticise management if they did not protect funds and only pay for the time that they were able to conduct operations. Would you continue to pay rent on a property if you were unable to live in it. I don't think so.

Despite all the protestations from the Bahamas Government about not wanting oil drilling, it's pretty clear that they are willing to renew the licences provided fees are agreed and paid. For CEG it's a case of paying the fees so they get another three years of exploration and a farm-in partner to drill P#2. Very much odds on this will happen if all that is standing in the way of licence renewal are the outstanding licence fees, which CEG have budgeted and allowed for in past reporting. Just a case of both sides being happy.

High pressures in the lower cruise slows down logging and running production liner. Balancing the well while carry out operations is not easy, especially when oil and gas is forcing it's way to surface. At Saffron 1, the pressures were so great, extra heavy mud weight had to be used which slowed down drilling. Not using water based mud this time, so at least the drill bit will spin freely and the formation sands should not become clogged.

It's the work programme that's been approved. This includes drilling Chikumbi. The last approval needed for the work programme to begin is the approval of the tender for the 3D. This includes approving the contractor that will be carrying out the 3D. Could be any day as we're in Q3 now.

Did you not know that the Tanzanian Government have approved the drilling of Chikumbi in 2022. TPDC have also approved the work programme. The only thing we are waiting for is approval of the contractor to carry out the 3D which will kick start the work programme. We don't know when the tender was submitted for approval by APT but approval must be soon due to the 3D being acquired in Q3.

bigpat, Nice one. Definitely a buying opp at this price now the funding has been sorted which is a big plus and seems to have got overlooked. The reserve upgrade is massive. I expect it will get upgraded again in a few months. Steady incremental rises to come. When those on the sidelines realise the price is not slipping then they will have to get in higher which will keep pushing the price up. Steady and slow wins the race.

5.8m buy at 8:15am is on the money.

Aminex is way undervalued. Historically it's at it's low despite all the progress. As ever when news sinks in and people catch up that undervaluation will correct. It should be at least 1p. More like 2p. So plenty of upside is available before the real work of drilling. I think the 3D will give a huge boost. Just this being approved by the Tanzanian authorities will kick start things. As has been said the gas payments that are owed would be another kick start. Funded with no debt and a partner with deep pockets and a huge gas asset that's multi Tcf, in an area where gas is hot at the moment with massive investments going in by major oil companies and oil and gas pipelines being built. It's all going to catch up with people so get in now for big gains. Waiting a few months is easy with a rising sp. It's all to come.

You're forgetting that Aminex is sub 1p and way undervalued.