Member Info for TarryBreeks

I think someone in the office has discovered the internet cable has been unplugged all this time and they've only just now plugged it back in ;)

If I wasn't already up to by eyeballs in Aminex shares I'd be buying more at this level, this is sure to rise off the back of CH1 which we know is targeting gas and liquids at multiple levels - which could mean condensate and/or oil.

A few too many eventually, long term and might well be's in there for my liking, however a balanced and overall positive update from Malcy.

Can we please get a spud date for CH1 now?

That's the list although I think it's getting longer Drewky.

Interesting thing about the rise this morning is the volume - it's low and the 9K buy has been cancelled out by a 9K sale. Anyway we seem to be holding the rise so far, long may it continue, I never wish to see sub 2p again.

Has the share gone up because:

a. Drewky has stopped posting his list OR
b. his list has finally started to work?

Cast your votes now ;)

Consolidation was one of the resolutions of the 2017 AGM. A ratio of 20:1 was proposed - see Resolution 9.

However it never happened http://admin.aminex-plc.com/uploadfiles/170427%20Aminex%20-%20Notice%20of%20AGM.pdf although that's not to say it won't do in the future.

Reuters: “Tanzania wants to build pipeline to pump gas to Uganda” https://t.co/xJl1cyg105 #Africangas https://twitter.com/AminexPLC/status/1027090768589201408?s=19 We must be close to our annual tweet allocation now ;)

A few parts of that interview that I didn't particularly like:

"Jay has been given quite a lot of stick for this deal and I'm not convinced that's necessarily all appropriate and I think there's still value." eh - so Malcy agrees that most of it's appropriate then? And there's "still value" - I should hope so but I suppose it may depend on your entry point/average and how long you are prepared to hold.

"Aminex are still considering looking at some other acquisitions in due course and probably away from Africa" - well good to spread the risk but not if it comes with a placing to raise funds for another acquisition!

"They just haven't been given the benefit of the doubt" - well that's largely due to past performance isn't it?

Down 4%?? I hope whoever is shorting this stock gets seriously burned by a Redmoor/HC/Care/Cobre update.

- APT will acquire 50% of the Ruvuma project with Aminex retaining 25% and Solo Oil the remaining 25% (subject to funding).
- APT (Zubair Corp) will pay $5m in cash and carry Aminex up to $35m to cover our 25% share of a $140m total projected spend to reach full field development of Ruvuma project.
- Early Production System set to achieve a Minimum of 40 mmcfd in Q1 2020 representing $12m p.a. fully carried cashflow.
- APT will acquire 200km2 of 3D seismic data to optimise drilling targets.
- Based on results of CH1 and 3D seismic APT will build a 33km pipeline to allow for maximum gas delivery.
- Kiliwani remediation and production planned to resume in 2018.
- Full field development is projected to produce ~140mmcfd by mid 2020’s with Aminex receiving $25-35m per annum.

Primary source http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

Is that based on your extensive experience of Tanzanian geology and particularly gas exploration and production willow?

The number of shares (not shareholders) rdajee is irrelevant. It's the market capitalisation which is important.

Our current m/c is £60m.

$35m (£27m) per annum for ~ 15 years then gradually reducing for a further 15 years without further CAPEX would support a much higher share price than where we currently sit.

Drewky, can I suggest your list is thinned out a little:

- APT will acquire 50% of the Ruvuma project with Aminex retaining 25% and Solo Oil the remaining 25%.
- APT (Zubair Corp) will pay $5m in cash and carry Aminex up to $35m of a $140m total projected spend to reach full field development of Ruvuma project.
- Early Production System set to achieve a Minimum of 40 mmcfd in Q1 2020 representing $12m p.a. fully carried cashflow.
- APT will acquire 200km2 of 3D seismic data to optimise drilling targets.
- Based on results of CH1 and 3D seismic APT will build a 33km pipeline to allow for maximum gas delivery.
- Kiliwani remediation and production planned to resume in 2018.
- Full field development is projected to 140mmcfd by mid 2020’s.

Primary source http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

I think that gets across all the salient points without too much waffle. Personally I think all the quotes, opinions and questions undermine your objective, others may disagree but and I do appreciate your motivation is genuine but you're starting to sound a little boiler room.

Can you give me an example of a share where you are guaranteed to find something rdajee? All shares come with risk, the upside here has certainly been limited, however the point of the deal is to limit the downside. We will be carried to FFD the tune of $35m and FFD could well be up to 140mmcfd and may include commercial oil. The upside has indeed been reduced somewhat but there is still significant upside from here and this deal only covers Ruvuma. We still hold other licences and other significant prospects in Tanzania.

Staff will be transferred to AST post farm-out (not yet sure how many) significantly reducing overheads and the $12m/yr is a minimum and based on 40 mmcfd which based on NT2 at 17mmcfd with a partially collapsed well seems very low for FFD and excludes Kiliwani which they how to have producing again at ~7mmcfd before the year end. I'm no Bhattacherjee cheerleader, however we have a deal that should take us to production within 18 months. CH1 is slated to spud in 2018.

Eh no not any timeframe post EGM. It was only in reference to Ruvuma FFD that a placing would be extremely unlikely (although I did say impossible - which isn't really the case). I'm starting to feel like a child in a bitter divorce case :( Anyway, none of this matters because Apache is going to sell his car and buy Aminex ;)

A car? What kind of Indian are you Apache? I thought you'd ride a horse? Wait .. I think I know. A Jeep Cherokee?

I hope we'll see an RNS soon. A proposed spud date for CH1 the day after the EGM contingent, of course, on shareholders approving the farmout deal would go a long way to restoring the recent fall in sp. This coupled with a long overdue update on Kiliwani should see us return to pre-deal 'highs' of 2p+

There are frequent references to SML due diligence in all RNS updates up to the purchase of LCCM. It wouldn't be due diligence if we let the seller provide the information to us. Resilience appear to have made a few decisions on processing which hampered their operations and which we are working to significantly improve upon. Key LCCM highlights are: - Indicated JORC compliant copper resource of 24,205 tonnes - Purchase price US $100 per indicated copper tonne - Current LME price is currently around US $6,000 per tonne (near 18 month low)

In fact I would go further, why was it so imperative for the BOD to release this news at the AGM? Perhaps it was to avoid the very questions being raised on here after we had time to assess and digest the deal?