Member Info for PageofCups

BPC are appraising the Lower Cruz with a thicker reservoir +300 feet of high quality sands down dip of approximately 11MMb of 2p oil recoverable with a NPV of circa $90m and a further 7 development wells with a target of 2p reserves at the end of 2021 of +10MMb net. This would unlock a further 9 other identified leads of equivalent size amounting to 200MMb prospective resource, with 2 prospects being drilled in 2021 and longer-term 2p reserve of 50MMb net, end of 2025.

It's well known that at 500 bopd production, overall operating costs in Trinidad and Tobago are approximately US$20 per barrel. Based on $40 per barrel oil price this would result in the Trinidad and Tobago business generating sufficient cashflow to cover the costs of its own operations. In the event of production increasing beyond 500bopd, and/or in the event of the oil price being greater than $40 per barrel, operations in Trinidad and Tobago would likely be in a position to generate surplus cash that can be deployed to other activities across BPC's business. dyor.

All clicking into place. Just need ARA to step up now and provide ops updates.

For licences to be extended APT will have to demonstrate it's commitment to it's obligations of the work programme, which means executing in a timely manner. APT can't just sit around waiting for licence extensions without doing nothing. They have to execute as per the terms of the licence of risk not fulfilling obligations. Obviously Aminex will be kept up to date on the progress APT is making. Certainly, Aminex will be having meetings with APT to discuss the work programme, costs and timings.

Was not a sale. It was a buy from this morning on the back of the RNS.

"even if APT are doling out contracts for the work programme with or without a License extension they are under no obligation to make it known to the AEX shareholders".

Crustypete, Surely if APT are spending money on the work programme or awarding contracts they need to let Aminex know to account for costs as part of the farmout.

23m buy yesterday was a signal. Todays RNS also a signal. Placing done, imo. Might be oversubscribed. Bizzells backing up further £10m at 8p.

23m trade makes sense now.

I guess they know the placing is in the bag to mobilise the rig.

The market gives zero valuation for the Ntorya gas and yet gives HE1 a value of £128m for nothing discovered. Shurly shome mishtake.

Just need the Zubairs to pull their finger out and start implementing the work programme. There is a lot to look forward to with the impetus in Tanzania after John Magufuli for fast tracking gas projects, and resolving any disputes around tax and money owed, bodes well for Aminex, along with the Ntorya asset that is much advanced and onshore and relatively low cost with ease of market access.

Bodes well for Ntorya gas. new pipeline to Kenya. Will need more gas production to fill it.
https://metricsafrica.com/2021/05/05/kenya-tanzania-agree-on-gas-pipeline-plans-2/

Look on the bright side, the oil price is up. WTI $66. All going to the bottom line. Good time to bring oil on production. World wide lockdown easing means oil will keep going higher. Farmout can be more attractive at higher oil prices. If oil goes to $80 things will get interesting.

The company has ~US$10 mm in cash (including ~US$3 mm from the convertible committed but yet to be received). The equity raise would add almost US$10 mm. This, along with cash generation from production in 2021 of ~US$3 mm, results in total cash resources of US$23 mm. This is enough to fund the firm activity programme (Saffron #2 and Suriname) of mm, the current financial liabilities of US$10-14 mm for the residual invoices associated with the Bahamas exploration well (which is higher than our earlier expectations of US$8-9 mm) and US$4 mm to Lombard Odier. In a success case at Saffron #2 and Suriname, BPC will probably be able to draw the remaining £10 mm/US$14 mm of its convertible facility and access
further debt to fund a US$9-14 mm follow-on development programme. The exact amount of funding will drive the size of the programme that could include further exploration drilling on the SW peninsula (US$6 mm for two wells) and further development drilling at the producing assets.

Anyone know if Eytan is answering questions from the proactive presentation?

https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2021/04/28113530/Auctus-BPC-27.04.2021.pdf

Yes, noticed a lot of buys showing as sells. MM's trying to fool people into selling so they can get some stock and sell higher on he move upwards.

It's about time this climbed over 1p. A lot of activity in the next few months for Aminex, culminating in a huge drill in January, which will be the making of a valuable company. Best to get in before the rest. Sub 1p is a bargain.

Moving now. Up 14%. Volume increasing.

Yes, undervalued here. People waking up though looking at the buys coming in.

HE1 £118m Mcap and not yet found any Helium. Aminex Mcap £27m with 1.87Tcft of gas and fully funded by a partner to drill and produce gas. HE1 overvalued or Aminex undervalued.