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3D seismic this quarter will be a catalyst. Upgrades in gas, multi tcf. 3D area 454km2. Huge.

https://www.proactiveinvestors.co.uk/companies/news/953849/aminex-says-tanzania-s-gas-sector-is-unlocking-953849.html

I wonder what it means for Scirocco and their sale. The value of their 25% just went up.

With funding agreed, there's no placing at 0.5p. Excellent.

Yes, someone pointed out the 2D seismic was 200km2 and the 3D seismic is 454km2, so expect further upgrades of gas in place greater than 3Tcf. Maybe 5-6Tcf. Seismic starting this quarter. Tendering completed and just waiting for approval from Tanzanian authority.

Charles Santos, Executive Chairman of Aminex, commented:

"APT, having taken over operatorship, has been actively progressing the Ntorya discovery towards a significant work programme in 2021/22. As part of this process, APT has independently mapped the Ntorya structure and share our excitement in the ultimate resource potential of the gas accumulation.

The 3D seismic will be essential in optimally locating the Chikumbi-1 well to derive the most value in determining both reserve and development potential. We believe that APT's operational strategy will optimise the potential of the asset and, with the new seismic, further verify the significant additional reserve potential identified by the Operator.

We eagerly await receipt of the 3D seismic dataset and to updating shareholders on further progress in due course."

APT say there is over 3Tcf with 1.9Tcf targeted by Chikumbi. That's double the Aminex estimate. The 3D seismic may show even bigger gas volumes in place.

The tendering for the acquisition of 454 km2 3D seismic has been completed and the Operator awaits approval from the Tanzanian authorities for the issue of the seismic acquisition contract. It is expected that acquisition will now commence later in the third quarter of 2021. The Chikumbi-1 exploration and appraisal well is now expected to commence drilling early in the third quarter of 2022. Assuming a successful outcome from the drilling of the Chikumbi-1 well, first gas from the project is anticipated to occur by the end of 2024.

In addition, APT has performed a re-interpretation of the existing 2D seismic dataset and considers the Ntorya gas reservoir to be the product of a stacked, high-energy, channelised sand system. Moreover, their revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf, in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf, which will be appraised by the planned seismic and drilling programme.

Good to see funding has been agreed for $1.7m.

Funding agreed with ARA Petroleum LLC for US$1.7 million to assist with working capital requirements of the Group.

Vike, that's why the sp is below 1p.

Sounding mouldy now.

Stale and crusty as ever.

So stale and crusty likes to deramp shares and then buys them.

Wait and see on the trades. Day is not finished yet. Expecting some buys at these prices.

Load up time.

Seem to remember a similar drop in sp before the farmout RNS.

They have set casing below the lower upper cruse to enable drilling of the lower cruse sands of 400ft which will be logged. TD probably reached at the weekend so log and flow test. Expect oil at the surface today tomorrow.

Why not look at the trades. Pretty obvious if you do.

Today, 24m buys v 8m sells. Says to anyone who can do maths there is keen buying. Stale and crusty.

The highlight is that someone is keen to buy.

There are 2 x 1m and a 2m sell, but the large buys are more interesting .

Another 8m and 3.1m buy trades reported late.