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Bit harsh to limit the dividend Caddy, I’ve been in here for nearly 4 years so by you’re suggestion I and many others of similar standing don't deserve any potential dividend?
Agreed Claza, like I said, onwards and upwards to the Spud. The proven resource here is huge and will probably increase in the CH1 drill, not to mention the deeper rather and potential oil.
After a ridiculously long wait, I’m looking forward to both this and Solo flying ????
Think they will move quickly Perks given the licence is only until April. Be great to have an operator that can give us a steady need flow and keep us updated, hoping for a Dec spud ????
"Aminex has announced that it has received Tanzanian Government approval for the farm-out to ARA Petroleum Tanzania (APT) and the company now anticipates completion within the next few days.
Robert Ambrose, Chief Executive of Aminex commented:
“We are delighted to finally receive Government approval of the Farm-Out and would like to thank all
agencies of the Tanzanian Government that were involved in the process. We would also like to thank ARA
Petroleum for its invaluable assistance and support in securing Government approval of the Farm-Out and
in advancing $5m to the Company over the past 12 months. We now look forward to completing the
transaction within the next few days and handing operatorship over to APT.”
It has not been possible to speak to the company today, they are, probably sensibly, waiting for completion and my numbers are still based on very historic data from the company. Having said that it will be well known that I have had the patience of Job on this deal going ahead and accordingly and having taken all other things into account can see a current target price for Aminex of 3p with more to come once the project valuation can be more accurately be taken into account. I’m very much looking forward to getting more numbers in the valuation as soon as Aminex start getting busy with the details."
"Aminex’s news yesterday has great read-through value for Solo, whose focus has been to seek value for its shareholders from the Ruvuma project long before the anticipated before the ONE-Dyas deal was even put in place. As it happened, that deal fell away and the trauma of this year has meant that the ‘Board continues to diligently seek opportunities to grow a sustainable investment business focused on cash generative energy assets’.
This news is very good for Solo, their 25% can be highly valued, as above I can realistically see a decent valuation in whichever value scenario, after all at a minimum this is 3/4 of a TCF of gas in a low capex area with good infrastructure already in place and a ready market at the end of the pipe. Whatever valuation is used, even at a pre-production, pre-development calculation there is now serious upside for Solo.
As someone said yesterday, Jon Fitzpatrick’s investment has just been dealt another ace, now that may be a bit rich and certainly I’m not sure they expected the journey to be like this but for the Solo team right now things are looking up, big time. I can see the shares heading towards the 5p level, after all the 2020 high must be beaten before long."
Solo own 25% of the Ruvuma Asset and Aminex (the operator) has just had the Farm-Out agreement signed off meaning that 75% is now funded to drill. Also opens the door for Solo to sell its 25% stake and move into the European markets.
BG do you think that means they are more likely to simply take over AEX?
I know its all speculation and the FO might still happen, just interested to learn how this works a bit more, not in a position to walk away now, whatever happens, I am seeing it through.
what is the likely outcome for AEX?
> We continue to hold the asset>
> Get back the money we paid in tax for the farm out?
> Continue to chase for the other monies owed?
> Look for a new JV partner?
> Start repaying ARA for their loans etc?
Is there still a glimmer of hope that this is recoverable without this particular FO or is AEX then dead in the water?