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Nope. To keep the licence they need to drill Chikumbi ASAP, whether Scirocco like it or not. If they can't come up with the cash then they may forfeit their interest.

Got to be the worst website I've ever seen. Tom Reynolds comes across as a fed up and disinterested. Very dour. Disappointing to say the least and nothing achieved. 1/10

Basically, non of the gas at Ntorya is priced in the share price yet.

https://www.investegate.co.uk/aminex-plc--aex-/rns/transformational-ruvuma-farm-out/201807111030033040U/

Blackgold, yes, equally ARA may not need to spend the full $140m to produce 140MMcft, in which case they make up the underspend by reimbursing Aminex through production until the full $35m is paid.

Dunderhead, that's exactly right. If ARA have not spent Aminex's full carry of $35m and they are producing 40MMcft, then ARA will pay Aminex out of production until Aminex realise $35m. Of course the full field development to 140MMcft ($140m) will see Aminexs' full carry of $35m relaised, but in the event there is not a full field development or something means Aminex do not get the full benefit of their $35m, then ARA make this up out of production revenue to Aminex.

This interview puts it very well.
https://www.youtube.com/embed/1K9G5iHNyEg

Establish an Early Production System to achieve accelerated first gas to a minimum gross rate of 40 MMcf/d (equivalent to approximately 6,700 bbls/d).

In the event that the minimum production target of 40 MMcf/d is achieved prior to Aminex's 25% interest having been carried for the full $35 million, APT will assign one quarter of its share of profit gas to pay the unspent Carry amount until the full $35 million is realised by Aminex.

The Board of Aminex believes that the Farm-Out will accelerate development of the Company's principal asset and substantially reduce project and other risks. The Company will retain a 25% interest in the Ruvuma PSA which includes Ntorya's 1.87 TCF (311 million boe) Pmean gas initially in place (2017 RPS Energy Consultants Limited report) and which is expected to be developed without the need for new funding by Aminex.

Not everyone understands gas figures and can't quantify this like they can with oil production figures. If we look at the the RPS reserves report, Ntorya GIIP of 1.87TCF, is 311 million boe. For early production from three wells of 40MMcft per day, this is equivalent to 6700boepd. 140MMcft for full field development which Aminex is carried for, is 23,100 boepd. Big numbers, even with 25%. Nyuni comes in at 4.8TCF equivalent to 800 million boe. Who wouldn't be interested in farming into Nyuni now gas development is the Tanzanian Governments main priority.

I would say you will get an update on KN-1 and the tax cash that is owed. Work can then start on getting KN-1 back into production and the 3D for Killiwani South and North aswell as Nyuni. This is something that Aminex can concentrate on. They have been in talks about the money that is owed and the Tanz government recognise that they owe this money. No doubt Mr Santos is pushing the necessary buttons so they can move forward with the work programme agreed..

Not even a tweet on the Aminex twitter page.

I think Mr Ambrose should do an interview, if only to say how pleased he is with the farmout and what the next steps are.

Production wells and exploration wells are designed differently. However Percy1 may be re-entered and completed as a producer later on.

I think once these parcels of sells are done then buying will begin to affect the sp. I would say most that have wanted to take profits already have. Majedie will be clear aswell anytime now. Will know when a run of buys start moving the price quickly.

Solo must have felt it's the right time to drop the name and announce they are now Scirocco. Prelude to game changing news and a new company.

I suspect if Solo are selling Ruvuma then they will get what they are asking for. The OneDyas gas deal needed 30m Euros, so expect similar if they are using Ruvuma cash for another acquisition. 2nd November is a Monday, so next week foe Aminex news, or possibly this week if they finalise handover, as it must be all about done. Middle of the day RNS most likely, just what day. Today, tomorrow. Next week.

I think some missed out on buying at 0.45-0.5p.
All I'm seeing are buys soaking up any drop. !m just gone in.

A lot of people talking this down. I wonder why? Could it be they want others to sell so they can buy in cheaper. I think so.

Why only now? Previous exploration licences in the 80's had expired due to oil being at $10 and oil majors not continuing with further exploration because it was not economical. Bahamas were largely forgotten about and no new licences issued until BPC showed up after tracking down all the previous well logs (5 wells) and cores which had been lost. Alan Burns, founder of BPC had an idea the basin held large oil deposits and asked the Bahamas Government if they could look for structures using modern seismic. The southern licences were granted as the most attractive from reprocessed legacy 2D seismic. That's when they found these huge mega structures and folds defined on the 3D. BPC had cornered the most prospective acreage and the Bahamas Government were not going to issue any more licences. In fact, BPC are the only ones that have exclusive access. They have further licence applications pending that are on trend with current structures. If anyone wants to find oil in the Bahamas, then they can only deal with BPC. But they aren't going to do deals on the cheap. Not with what they know.

Wouldn't be surprised ! !