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2.98p to buy a tiny amount 200 shares.

What are the mm's doing with a spread of 2.00/2.99?
They don't want buyers?

Safe to say if Darwin was discovered offshore Argentina then majors would be all over it. Makes you think dunnit. Opportunity here at Darwin is huge for any oil company.

Something to think about if Argentina finds oil offshore. Things will definitely hot up in the South Atlantic.

https://oilprice.com/Energy/Energy-General/Could-Argentina-Replicate-Brazils-Offshore-Oil-Boom.html

Haggis , thanks. Yes, I was wondering about two different gas sales in fact. One for domestic use, and one for export. Gas for export would at be a higher price. Just wondering if something is being agreed for gas to also be exported from Ntorya increasing the revenues for the Government. The wording in the Friday results is now talking about an export pipeline. First time I've heard the word export. I presume they are just calling it that and the gas is still for domestic use.

Yes I agree. It is interesting though that the pipelines are being constructed before CH-1. They have great confidence in the volumes of gas and the news on Friday drew attention to the mid year seismic results would be a catalyst, followed by a revision in the reserves, presumably upwards.

In order to construct the pipeline they were first going to drill CH-1 and test. Based on the results of CH-1 test and the 3D seismic, they were going to construct the pipeline(s) to allow for maximum gas delivery. They are now going straight into pipeline construction. My guess is, the results aren't needed as they know from the 3D that the gas is huge.

First gas in October.

From APT website.

APT immediately started planning the approximately 350 Sq Km seismic program and preparing for the drilling and testing of the new Chikumbi-1 well. The Ntorya discovery contains 1.8 Tcf of gas according to 3rd party CPR and has been proven by 2 wells both producing 20 MMSCF/d each during testing.

Once the 3D data and the new well has been drilled and analysed it is likely that APT will prepare a Field Development Plan (FDP) and after approval from the various authorities in Tanzania commence the development. There is ullage in nearby processing plants to allow for evacuation of significant volumes of gas. ARA Petroleum very much looks forward to working with the various bodies in Tanzania in an effort to mature this very promising asset at the earliest possible opportunity.

Can see on slide 9 the proposal twinned pipe 8" and 12".

http://admin.aminex-plc.com/uploadfiles/Corporate%20Presentation.pdf

Be interesting to see the pipe diameter and whether they construct a twin gas pipeline . Madimba gas plant capacity 210MMcft/d with about 100MMcft/d to be filled. Ntorya early production system has an 8" diameter pipe going to Madimba gas plant. Full field development has an additional 12" pipeline alongside. This 12 " pipe may spur into The Dar es Salaam 36" pipeline to Dar es Salaam, which has 784MMcft/d capacity. Be interesting if some of the Ntorya gas will get pumped into the 36" pipe for export., particularly if the gas volumes in Ntorya increase.

Revenue.

Aminex’s non-operating strategy has made it a stronger, more secure company with a low-cost base and an entirely
carried position on Ruvuma and is debt free. It provides a solid financialsituation untilthe commencementof cashflow
receipts from Ruvuma. Moreover, APT has reduced the time to cash flow receipts with an accelerated gas production
plan, which is strongly supported by the Tanzanian Government and aligned with its need for gas in the short and medium term. The success of this strategy is now in sight as it appears Ruvuma’s revenue will come significantly sooner
than our original projection.

Going to be a good Summer. When that rig gets booked and the updates from the 3D come in it's a one way upward move. To maximise profit means the earlier you get in the better. 100% from here this year. Then another 100% next year. Would say 4-5p easy in 12 months. £10k be worth £50k next year.

Friday's news not filtered through yet.

Are Navitas going to do a deal with BOR before any other major gets invoved?? They must be drooling over the economics of Darwin. They can improve those economics with the work they're doing at Sea Lion. Equipment, mobilisations, drilling etc, with BOR only needing 3 wells to first production.

RKH moving up. Strong investment in the North Falklands.
The real prize is the South Falklands with marine sands, higher production rates, fewer wells, and fast payback on Capex. Farmout needs to happen sooner rather than later. Where are you at BOR ?

Fertile environment for investment and deals with oilers that have assets or proven acreage. BP made a profit of £4Bn in the first quarter. Record cash looking for re-investment into new areas of growth. Longboat Energy doing a JV deal with JAPEX who are entering into Norwegian exploration with a $100m credit facility. Can't be long before BOR does it's own JV.

Probably deviate CH-1 well from original position. 3D is used for drillbit target.

Sounds like a lot of progress has been made and is about to be realised imminently. Just 1p, £40m Mcap for an asset about to be monetised and no debt no funding required. $35m of that valuation is the farmout carry. So hardly any valuation for the gas.. Cheap cheap cheap.

Will Mr Brimacombe get to 10% holdings? Can't be far off. Has he a plan for BOR to introduce finance partners through his connections? Maybe.