Member Info for RogerJolly

I think it was said at the presentation that they would like to keep it in house but obviously the size of the prize as indicated by the EWT is what will play a large part in decisions or recommendations to shareholders.

Personally and normally if in midlife, I would look on a long term basis and so I would prefer an off taker funding with a fixed term guaranteed minimum level of take off.

However as a pensioner who has just been mugged for £300 I think a bidding war buy out would suit me better

Well Franky if I had your thoughts I would walk on by and not waste my time commenting on something you have no faith in.

You say you on unsure of multibagger 10x, well last call was 15x, personally I am conservative at 5x which would come following a successful announcement.

Of course as you said field development will need funding, but have you not seen they have already held conversations with interest parties and off takers. Noble just up the road are telling us people are queueing at the door to be involved. Well what will happen there? There are a few options.

1. They decide to go it alone with an off taker providing funding for a guaranteed supply for a fixed term

2. A loan could be raised against income that allows them to sell to highest bidder

3. There could be a Take-Over offer or even better a dog fight with multiple bidders.

None of the above call for dilution and because it is a modular production system being designed that can expand as the development grows then it's quite possible to go it alone. So imo the only way we would see dilution for development is if they go for a farm-out JV arrangement and past experience shows that on rumour even before announcement of such a deal the sp rises further with only the amount of dilution levels to slow that down. Of course in that situation the holders have the right to vote on the prospectus and without a major buy holder high percentage, that would not be a foregone conclusion.

Either way imo a positive announce is going vastly improve the wealth of current holders buying at this price. Not advice just my own common sense opinion based on history here and elsewhere

Crusty I wouldn't say marginal as I think, they believe they have enough in order for them to have pre-spent an awful lot of unnecessary money on the future production planning and surveys. I just don't think they would do that without something concrete to go on. I would agree with you though, that those levels are an unknown at this time at least for us, and I personally believe this current proving up exercise is all about future funding for the field development. As we know from elsewhere The Tanzanians are also very cagey about what they allow to be released in what can be political and economically sensitive environment. With all sorts of funding flowing into the country at the moment they want to maximise every dollar they can. With the huge deposits of gases found this is going to be a big draw for investors imo. The new Qatar and maybe even Saudi when the oil is eventually found

Just to repeat my response to this comic writer from last week

"Whehey! Two weeks running I featured in the Wednesday Comic

Shame he prefers to take me out of context " Personally I don't see them wanting to take over. They effectively own 83% of Ntorya already." That part is a fact but it refers to the Ntorya field. Control of the company is a totally different matter. Aminex are not controlled by just 29% of the shares.

Funding has already been arranged and there is more funding on the table if required and at this point in time with expenses being kept to a minimum that looks like being unnecessary. With what is coming over the next month or so, I certainly will not be losing any sleep over the ramblings of a comic writer.

Further.

There is an operator ARA who continued the negotiations with the Government to gain both a GSA and a Development Licence for the full field development. From Aminex point of view, while the operator maybe in control of the timelines, Aminex still owns 25% of the field and I feel confident that, that will be written into those agreements. One good reason for that would be Tanzania will still be wanting to tax Aminex on its share of the proceeds.

Very happy to continue holding and buying when funds allow"

And I note the resident troll has already given this nonsense a tick up.

Take a look at history rather than placing a pessimistic closed eye questionable view.

Back in January it took just 12 days to 15 bag.

Is that quick enough for you?

As for when, well as soon as they make a positive announcement is when it will begin in earnest, but I am sure you know that already.

I think you forget the old 27p was at a time with many less shares in circulation when they had found nothing tangible. Since then they have shown in January 4.7% Helium which shot the sp up 15 bags from 0.19p to 2.8p with billions more shares in issue.

At 27p with the original share numbers in circulation the same reaction in January would have brought an equivalent of £4.05 per share.

Now obviously we are not going to see it at that level, but they are in the middle of proving up exercise that will, or not confirm productivity levels.

If it goes as well as expected, 15 bags would see the current price at 18.45p but let's be conservative and say 5 bags which would have it at 6.15p and that does not make Peaky's 7 to 8p look that far from a realistic proposition.

Just adding temperature relevance info

The Helium is 0.6grams per 100ml of water at 20c - No figures provided for any other temperature.

Which is negligible compared to

Salt (Sodium Chloride) which would be 35.89 at 20c and 37.93g per 100ml at 80c.

or Sugar (Sucrose) which is 201.9g at 20c and 365.1g per 100ml at 80c.

Another point is that Helium does not dissolve in fluid so is much easier to separate when not separating naturally.

As my last post the term low enthalpy was used. This is a good sign...

"The increase in the internal energy can be viewed as the energy required to overcome the intermolecular interactions in the liquid (or solid, in the case of sublimation). Hence helium has a particularly low enthalpy of vaporization, 0.0845 kJ/mol, as the van der Waals forces between helium atoms are particularly weak."

As you can see it is the hot temperature that helps realease.

"In addition to high helium flowing to surface, the Company encountered elevated hydrogen levels that flowed to surface. This concentration of hydrogen was measured at 2.2% using micro-GC equipment and is over thirty-seven thousand times above background levels (0.6ppm).

During the DST, it was noted that the downhole temperature gauges detected elevated temperatures (>80°C) associated with the release of hot Basement fluids, and subsequently, helium. These temperatures are indicative of a low enthalpy geothermal well. This geothermal energy has the potential to result in either a direct use project or a binary fluid electricity producing plant. Which in turn could be utilised in a number of ways which may include powering several functions in the development and production phase."

Full details in RNS 5th February

It is not a worry about water, the has is found within the fluids. Its normal...

"Company has identified that the frequency of helium increases with depth and is preferentially carried in hot fluids out of the Basement and along fault conduits. As the helium rises through the well bore, the pressure decreases, and it is thought that the helium then comes out of solution and increases in concentration.

This was further collaborated with mudlogging data that showed elevated helium whilst drilling the 8½" hole section through the Lake Beds Formation and the shallow fault zone. The well produced a continuous measurement of helium gas across the micro-GC and this consistent helium gas measurement was repeated during hole opening operations in preparation for running casing."

Looks like mummy put them all to bed at 9pm

Poor little mites must be shattered

You should be, there are many men with ropes eyeing up a big tree on the hill.

All that is going to cost serious money with serious investment inbound. They can't do that without the gas production and the offshore finds are years away. As you say the JV is in pole position with first gas by spring 25

At first it may appear that way but the bid was down to 1.23 at one stage which is why I think it was a worked buy.

Wow Ufufu. It was only a couple of weeks ago I picked up something related in the Tanz press, I posted on Telegram and maybe here too about potential pipeline links to Zambia and also opening up to the Congo.

I get the feeling we are sitting on something much bigger than we all realise.

Once the lid blows on this there will be profits taken, but I think this will become a great pension vehicle for those in early.

Yes get a load of that. Is that the one that it's been walked down to achieve? Strange how the UT comes in at 1.27 and also a late buy after a last seven minute climb. Once they filled that they could let it go 🙄

Perhaps the reason we've seen a boiler room invasion here today.

Spread was tight and not all blues were buys, but somebody managed to pick up 3,000,000 in the last hour as it drifted.

That's one less who will be bashing tonight

Maybe even from Lorna 😀

My friend the man from del Monte, he say yes!

I await confirmation from Lorba