Member Info for PageofCups

It's the ease of doing business that the new President has ordered to change. This includes refunding disputed taxes by the Tanzanian revenue authority which has stifled business, and to pay outstanding invoices. The President is the polar opposite to John Magufuli in this regard. This is welcomed by businesses wanting to invest in Tanzania and the new ease of doing business will increase tax revenues for the Tanzania Government as a result.

5m shares bought 16 seconds after market opened this morning.

The new President of Tanzania wants to increase tax revenue from projects and investment in Tanzania. Gas production is a major contributor in that strategy. Ease of doing business is central to that.

I am expecting a wall of news in the 2H. These cheap shares won't hang around for long. A major work programme culminating in a drill in 6 months time. Just need the news on progress to get things started.

The Tanzanian Government have approved the budget for the drilling of Chikumbi in Jan 2022. As it's a yes from them, it means progress has been made in the background.

Strange behaviour from that one.

As the Ntorya asset gets developed through the work programme which Aminex has a full carry, the asset becomes more valuable. Hence, Scirocco are happy to fund their share of the programme and advance the asset until they realise value through production of gas or they agree a sale at a value that is acceptable. It's quite simple as everyone can see. Stale and crusty as usual.

What rubbish.

Come on stop being daft. Aminex own 25% and can sell it just like ScIrocco are doing. Stale and crusty as usual.

Please provide evidence of forfeiture. That's nonsense.

If they wanted, Aminex could sell 5% to ARA for $7m, if ARA wanted it.

CrustyPete. ARA do not get 25% of Aminex's share of revenue. It still belongs to Aminex. As I've said it's a carried asset worth $35m so Aminex would sell it to the highest bidder if ever they needed cash in the scenario of going 'bust'.

If Aminex goes' bust' then shareholders would lose out including the Zubairs. This will not happen though as Aminex have 25% of Ntorya with a free carry without Aminex having any debt secured against the asset. therefore it still belongs to Aminex. The obvious answer is that Aminex can't go bust as it will just sell it's 25% of Ntorya with the free carry valued at $35m. They would then use this cash to invest elsewhere or return it to shareholders.

It's going to cost the Zubairs more than £26m before they see a bean. More like £100m +
It's a lot of money in anyone's book.

Well, considering the Zubairs are going to spend $140m on Ntorya and have put money into Aminex at much higher share prices than today's, they so far have lost money. I believe they will want a return on their investment and to do that it's going to have to be many multiples from here considering the amount of money they have committed.

ARA own a significant holding in Aminex. Why would they not support their own interest in the company.? Weird to say they might not.

They have conserved cash and reduced admin costs to see the company through to drilling.

Is that not where the opportunity is with AEX? A beaten down valuation and poor sentiment that will turn. Get in before sentiment changes due to the scheduled work programme and drilling in 6 months.

When looking at other companies that are yet to discover any gas of significance, like HE1 or PRD, Mcaps of £148m and £38m respectively, AEX's Mcap of £22m is bonkers.

Second half is approaching fast when operations are scheduled to kick off. Awarding of 3D seismic contract and rig contract, with mobilisation of services in 2H for drilling in January. News on these anytime. Share price still on the floor for an already discovered gas field 1TCF onshore in a hot spot for gas projects.