Member Info for TarryBreeks

Absolutely josik, great news for WEN. If only the Aminex board put as much effort into delivering shareholder returns; rather than lining their own pockets which is, irrefutably, all the Aminex BOD achieved in 2018.

That's called a cocktail in Glasgow.

Yes, quite Drewky.

However they will surely get a much quicker boost to the gas supply by approving re-preforation of Kiliwani North and any other associated remedial processes/equipment including compression if required.

For gas to flow from Ruvuma we need:
- the Mtwara licence extension
- a farm-out agreement cast in tablets of stone
- CH1 to be drilled a development licence
- a GSA, 40km pipeline spur construction
- a workover for NT1 & NT2

Given we have a rig sharing agreement and the weather window has most likely effectively closed operations until May perhaps everyone can focus on what I've been banging on about (in addition to remuneration) since the 2017 AGM: sorting out issues at Kiliwani North

Of course now we're in the government shutdown period there is little hope that anything significant will happen until January so over 2 years since we learned of pressure issues at Kiliwani North we're no further on in resolving the issue.

As Kiliwani North was and will remain our only source of income until EPS you'd think the BOD might have given it a little more attention.

$40m 'expected' revenue, wonder how much remuneration Bhattacherjee will be paying himself at that point from the Aminex/Bhattacherjee private wealth fund? $45m?

Well - that was a short lived rise - back down to 1.45p - wouldn't want anyone getting too excited.

"IMO this will only go up in coming days...we are awaiting dual good news as per the last RNS!" - hellyeah

@hellyeah we've been waiting for "dual good news" since May 2017 or perhaps even just "any good news" but none has been forthcoming. I have no expectation of any news until the 4th of January at the very earliest and even at that I am sceptical we'll get the Mtwara license extension pre-EGM considering the Tanzanian Government will still be in recess.

1.55p: only another 47% rise needed from here until we reach the same price (2.5p) when Bhattacherjee announced the 'transformational' farm out.

"Hopefully we'll get the rig first then so we don't have more out of our control delays." At this point Tom hope is just about all we have. Dithering by the BOD since submitting the development license application in September 2017 was the last major 'milestone' we achieved. And until such time as the farm-out is irreversibly agreed by all parties it is not an achievement. Without a reperf Kiliwani North will simply drain until pressure is exhausted as previously demonstrated. Zero reward for LTHs so far, quite the opposite in fact so time to pull the finger out and start earning that massive salary Bhattacherjee. Malcy is quite right to say shareholders are frustrated; that's an understatement.

If the farm-out proceeds as was originally presented we shouldn't be worried about any drilling commitments at Ruvuma - FFD is 7 wells. Our attention should then turn, as soon as practical, to Namisange, Nyuni and Kiliwani South. Personally I would prefer to run seismic at Namisange - onshore drilling is MUCH cheaper than offshore and I seem to recall Namisange being touted as a good prospect for oil.

I hope that as part of the license restructuring that Namisange is not hived off.

"Worse case we fund it ourselves but regain to 75%" I suspect the worst case is worse than that Drewky.

I'm number three! Is there a prize? Hopefully a nice pre-Christmas RNS. Wonder if this post will move me up to #2? :D

Presumably slightly larger than $2.73m cperkin now that we have absorbed Bounty's share of the license/commitments?

"with only the weather dictating the actual spud date" - so May then :(

Well any revenue would be be better than none and it would make everyone feel a lot better about our trajectory that's for certain.

Anything north of 8 would be a bonus and if perforating this 'new' zone can help offset the pressure loss we experience when in production that would be great.

Have a nice weekend everyone :)

We've never produced at 30 scuffs - it was the theoretical maximum but I think they highest we saw was 17.

I also believe that we were told that it was likely we would produce at around 7-8 even with remediation although that was before the additional layer was 'discovered' so that may no longer be true - assuming we can perforate the new layer, that it is gas bearing and that it doesn't simply drain from the same compartment.

That's the $1m question specman, your guess is as good as anyones. We don't even know if we have permission to re-perf the well yet let alone getting to the point of flow testing.

Last production was around 12 months ago when flow rates dropped below 1mmcfd and they shut the now infamous valve.

Very interesting post here on naked short selling - http://www.valuethemarkets.com/index.php/2018/07/31/aim-chief-exec-lofgran-breaks-ranks-challenge-market-makers-naked-shorts-ntog/.

For balance - Jurassic prospect has an 8% COS.

Glad I'm no the only one blacksheep - I was expecting see green but it all looks grey. Still - I'll take their word for it too :)

Drewky did you not buy into AAOG yourself on Tuesday?

"Bought in for first time yesterday still happy if it's pre Christmas but even happier if it comes later today." - Drewky AAOG: Tue 11:14 - http://www.lse.co.uk/member-info.asp?nick=Drewky&page=2

;)

I have no operational control over anything at Aminex Drewky; suggesting that it is me that has eroded confidence rather than our BOD and their operational performance/decisions is frankly astonishing.

We have had little (if any) positive news since striking gas at the NT2 drill. If you want to draw comparisons to my outlook on Aminex since April - unfortunately it is directly correlated to the news flow.

If we start getting positive newsflow - which unfortunately is not in my gift - then great; the share price should start to rise. If not then we will continue to stagnate. The share price was 2.5 when the 'transformational' farm-out was announced 6 months ago which itself was 12 months from NT2 results.

We're now sitting at 1.45p and no further forward than we were back then and on many measures we are worse off (see my previous post). Point the finger at anyone you like but I suggest it should be in the direction of Bhattacherjee rather than me.