Member Info for StoneFold

Orca/PANAFRICAN are tendering for drilling services for their well repair and work-overs at Songo Songo.
Tender process started 13-07-2021, Tendering ends 21-07-2021
Well workovers start September 2021, works end December 2021

http://www.vijanatz.com/tz/jobs/jobs/drilling-service-at-ssi/

This follows their promotional presentation at the end of June.
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The other gas producer at Mnazi Bay is also doing some PR to show that it is committed to working in Tanz.
https://www.thecitizen.co.tz/tanzania/supplement/maurel-prom-leverages-on-tanzania-s-gas-beyond-its-calling-3473212

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Virtuous circle:
- Publicly praising the country, the people, the opportunities in Tanz.
- Good working relationship with Tanz government.
- Timely progress on moving investment projects into profitable and tax paying business in Tanz.

Correction the dates were 28 - 30 June 2021, so they will now be back at work, reaching for the biro.

instead of always sitting at a desk and signing permits for 3D surveys or licence renewals.

The Ministry of Energy is at the energy pavilion of the 45th International Trade Fair held at Mwalimu Nyerere Stadium in Dar es Salaam 1st - 5th July.

They are promoting:
1) implementation of energy policy
2) an ambitious power plan
3) an ambitious plan for the use of natural gas
4) rural electricity supply
5) efficient energy use
6) opportunities in the oil and natural gas sub-sector
7) implementation of various electrical projects

https://twitter.com/darmpya_/status/1410554040447115268

Orca's presentation confirms that it is possible to make a profit producing gas in Tanz, that they will request an extension to their licence as they see a bright future there. Page 24 shows the required additional gas supply needed to meet the capacity for new gas power stations.

https://orcaenergygroup.com/wp-content/uploads/2021/06/Investor-presentation-Website-Master-6.pdf

with companies to promote investment in exploration and production of gas.

https://dailynews.co.tz/news/2021-06-2860d9b88ceb4a6.aspx

https://www.londonstockexchange.com/news-article/ALTN/notice-of-agm/15018900

To clarify, the Caroil 6 rig was used in 2007 to drill one of the Songo Songo wells.

It has not been stated which rig will be imported in September 2021 for workovers.

well ss-10 is the nearest to the sea of the three wells to be worked over.

Link below refers to back in 2007 when well ss-10 was drilled with a land rig, can't find how the other two were drilled.

https://www.rigzone.com/news/oil_gas/a/43427/eastcoast_energy_secures_rig_for_songo_songo_well/

"...EastCoast Energy Corporation has signed a rig contract with Caroil SA to drill a sixth development well, SS-10, on the Songo Songo field.
The Caroil 6 land rig is currently being mobilized to Songo Songo Island. The new well will deviate one kilometer offshore and will be drilled to a depth of approximately 6,400 feet. Drilling is expected to be completed by mid June at a total cost of approximately US$11 million. ..."

The three wells are onshore/on the island, but you may be right the rig may have wellies or flip-flops on.

PanAfrican Energy are to bring a drilling rig into Tanzania in September to workover three wells at Songo Songo. The rig should be free soon after the end of the year (just in case there is anyone out there who may be looking for a rig about then).

Another example of Tanz Gov permitting work.

https://dailynews.co.tz/news/2021-05-2560ac9e46cd8b0.aspx

grsshaw, Thanks for the twitter link - He mentioned maybe investing in fertilizer.

Tanzania is to build a fertilizer plant at Mtwara this year (the feedstock is gas).

Https://dailynews.co.tz/news/2021-05-2060a678a990427.aspx

https://www.ikulu.go.tz/
PRESS RELEASE 20th May 2021

"...The President of the United Republic of Tanzania, Hon. Samia Suluhu Hassan and the President of the Republic of Uganda, Hon. Yoweri Kaguta Museveni today on May 20, 2021 witnessed the signing of a memorandum of understanding for the construction of an East African crude oil pipeline to be built from Hoima in Uganda to Tanga Port in Tanzania between the Government of Tanzania and the East African Crude Company ( EACOP). .."

"..Ms. President Samia has said she believes the project will stimulate joint oil and gas exploration efforts in countries in the region including Tanzania, DRC, Burundi and South Sudan and will also attract more investors to come and invest in Tanzania and other countries in the region. .."

Glenrothes1969,
An award in favour of the claimant would result in an increase in the share price, dependant on the value of the sum awarded.
Interest would be payable on that award to encourage early payment.
If the respondant state chose not to pay on time, then it would count legally as an internationally enforceable debt, for which any property of that state (bank funds, planes, property, land ... in any country could be sequestrated then sold to generate the funds. That would result in extra costs and humillition to the state.
The award / debt could also be sold on to an enforcement agency if the claimant does not wish to wait for a long time for payment to be extracted from the state.
But they have got to win the award first, which is a gamble.

blackgold00, from Tanzania Petroleum Development Corporation (TPDC)'s twitter.

https://twitter.com/TPDCTZ

They are still busy with two other large projects that have not yet reached that stage of progress.
Tanz to Kenya gas export pipeline.
Lindi LNG plant.

The Tanz to Uganda gas export pipeline, will probably wait until investor activity in the Uganda to Tanz oil export pipeline has moved closer to a start date. But their could be economies of scale if they built them together.

Tanz domestic gas pipeline and bottled gas is still being rolled out in a bid to replace the more expensive and harmful wood burning.

https://furtherafrica.com/category/tanzania/

The HGA between Tanz Gov and investors in the East African waxy crude oil (that needs heating) pipeline project (EACOP) is due to be signed on Thursday 20 May 2021. The HGA between Uganda and investors was signed in April.

Another stock picking site gives Altyn the thumbs up.

https://walletinvestor.com/lse-stock-forecast/altn-stock-prediction

For businesses in Tanz the traffic lights are now green.

"...The official award of the EIA certificate, which was signed on the 4th May, means that Helium One has all necessary permits in place to commence exploration drilling in early June. .."

Thanks to bigboyblue for the link

https://www.suli.gl/jobs/rastofomradet-gb/greenland/drilling-assistant-boreassistent-330633859

Alba seeking a Drilling Assistant.

A test of how business friendly and flexible the Tanz gov are now, will be seen with HE1.
If HE1 can work well with the Tanz gov then so can APT/AEX/SCIR.

HE1 extended their 2D seismic campaign from 150km to 200km (now completed).
Found a better target site to drill.
So have revised the drill start date from mid May to early June.
They have revised the work plan to construct a different road and drill pad construction at the new site.

All of these changes (seismic, road, drill pad site, drilling new well) require some kind of permit/approval from Tanz gov.

Will it all proceed as smoothly as HE1's CEO thinks?

"..Relocating our first well to Tai will necessitate approximately two weeks of additional time required to upgrade existing tracks, construct a drill pad, and receive all necessary regulatory permits to commence drilling at this new location..."

They like to release the report as close to 30th April as possible. I would rather they release it at 6:21 than 4:21 as it gives more time to read it.
Perhaps they were planning to issue it at 16:21 but missed the first digit.

The production figures were known and the capital spending plans were known (in the bond prospectus).
The financial figures are good reflecting the progress made with production and the firm gold price.

I think it may be another year before they are ready to proceed with a $40m-$50m fundraise for that next large step up in production. Until then they can use spare revenue to make improvements/explore.

But by making known that they will be looking for cash, gives time for investors to consider it.