Member Info for randomaxe

ha ha, harsh!

Nice to see some more blue, hopefully get some good news soon to keep the momentum going...

Its all the imminent news....

Hopefully something has leaked, who knows. Did you see the RNS last week with some funding from zim gov? A positive sign things may start moving.

ACKER is looking to buy in again I see...

Definitely clears things up, got to wonder why they never included any of those details in the first RNS. They must be confident of progress soon to set those targets, hopefully we can hit the first one in the next couple of months.

Well said cperkin, the comms are always horrendous and its always one step forward two steps back with this bloody company!

Its worth a try at getting the numbers, the BOD are taking the ****. We've got a terrible deal in the farmout, that has taken literally years and still isnt completed, and now they're rewarding themselves. They've delivered nothing so far, we still don't know whats going on with KN1 but they've decided that they deserve to be rewarded? Greedy mofo's.

I've been invested in PREM for years and one word I wouldn't use to describe it is boring. If GR was going to close PREM and walk away with Circum or whatever then he would of done it a while ago, he's had plenty chances and has loaned money to PREM several times in the past. There's not much he can do while we wait for Zim government, and I say that as someone who has criticized him plenty in the past.

https://www.malcysblog.com/2020/04/oil-price-hurricane-aminex-solo-columbus/

Aminex
Aminex has announced that they have formally received extension of the Mtwara licence from the Ministry of Energy in Tanzania. This is one of the last remaining conditions required to close the farm-out to ARA which will lead to a $35m carry of its share and take the company to ‘material gas production in Tanzania’. This is a significant amount and for Aminex’s 25% WI the carry takes them to first gas and beyond.

This is a key milestone for the company for a ‘fabulous reserve base’ and is ‘pivotal’ giving a good line of sight for conditions precedent and direction of travel. It confirms recent views that the Government in Tanzania are taking a more positive line and that energy needs in the country are being taken seriously and this is moving this in the right direction.

The timing of this approval is important, it shows that the practice of renewing and extending licences annually is back in vogue and on a rolling basis. The ongoing work programme of 200km of 3D seismic, the Chikumbi-1 well and gas negotiations should be under way soon and I understand that ARA has already started on the preparation for the work programme. This encourages me that it won’t be long before a meaningful inroad has been made into the work to be done but no fixed dates are being offered as understandably the virus may delay things.

Aminex has announced that Robert Ambrose is stepping into the CEO role as the company prepare to be a slimmed down, right sized company as it passes over the operatorship. It is clear that a lot of good work has been done in recent months and the ground work in-country means that the company is well positioned for organic or inorganic growth and that there is approaching huge opportunities for consolidation in Tanzania and across pan-Africa. Cost reductions last year have been added to again this year and the company is lean and ready to move ahead.

Good to see some activity here....its been a long time coming!

Do we still have a rig selected etc for CH1? When could we realistically get drilling anyone any idea?

Explains the drop yesterday and got another red day to look forward to now. Why the hell aren't they proceeding with the gas export pipeline? That's basically an admission they won't be increasing production as they can't flare any more than they are.

The aminex gravy train chugs on.....

Yeah another good day here, another one like this tomorrow and I'm in danger of getting my money back!

So no RNS, that's annoying.

Nothing there though? Is it an LSE error yeah?

God damn I got excited for a second there, a decent rise this afternoon and then the flashing RNS alert.....bloody price monitoring though.

Surely something has to happen soon......zzzzzz.

directors buy shares at the moment? Would be good to see them putting some more skin in the game given all the uncertainties and ludicrously low share price...

It'll probably be a blue day tomorrow or Friday, we seem to be settling around 1p as the never ending wait for the license continues...Tanzania is a shambles of a country!
It may also be the weather, I can't remember when the rain season is due to start but there is a load of flooding at the moment so even if we got the license its unlikely we'd be able to drill any time soon? Someone else may be able to clarify....this share has been in the bottom drawer and written off for a while now so I don't research as much as I used to.

7 months?? Its more like years, can't be far off two years since the 'transformational' farm out was announced, they've achieved nothing since then - they just keep milking shareholders for unearned salaries. We haven't heard a peep out of 'chairman' John Bell or from that useless tool Jay's replacement, I can't even remember who it was, Tom MacKay maybe? The Aminex BOD is well and truely on the gravy train.

I wish someone had warned me.....sell while you get the chance. The man is either a crook or completely inept

There is, at 1pm

https://zoom.us/webinar/register/WN_3lRkaSynRRuvd0agIUU36Q