Member Info for Ufufuo

Up she goes

Looking good

Jolly good

Oh, and AGM next month. I expect they will want to put on a show! They made a big effort last year. Lots of info. The seismic interpretation team there. Shard Capital too. With the news due and new PR firm in place, I expect this to be a good one 👍

Hi StockCheque, will go through all of that later and will come back to you 👍

A good reminder from Roger about the 3D seismic results just now. A World Class Giant (less than 1% of gas fields worldwide are Super Giants or World Class Giants!)!

Also worth a reminder that we are at a pivotal point in Aminex’s history and in terms of news due. The last year or two included the 3D seismic (largest ever survey onshore in East Africa they reckon!) but was largely focused on getting the agreements in place to fully secure the asset, so that ARA can race ahead and drill and develop the field…spending another $100m+ with confidence (for which Aminex is fully carried).

Shareholders have long understood these to be the things that needed to be cleared out of the way:

✅ Scirocco deal done (their 25% of Ruvuma going to ARA)

✅ Gas Sales Agreement (GSA) signed

✅ Field Development Plan approved

✅ 25-Year Development License approved by all parties

Those were the things that shareholders said needed to be ticked off before ARA cracks on with drilling - that last one has all approvals and is just awaiting issue by TPDC to ARA.

Production is expected within ~12 months. They’ve got to create the CH1 pad, transport and mobilise that rig, drill CH1, demobilise it, move it to the NT1 site to complete the workover on that well. They will presumably want to build in some contingency and plan to have that lot done comfortably in advance of completion of the pipeline and first gas.

So, the final bit of paperwork is just about to be issued. The one that ARA says “secures the asset”. Then, they have a great deal to do in 12 months or less. So, all those facts point to news very soon, including schedule for drilling CH1.

According to stockbrokers Shard Capital, Aminex is very undervalued at these prices. A great opportunity IMHO.

Looking very strong for tomorrow morning

One more tick up before the close?

Up she goes

Yep. On an upward trend and a lot of news ahead of us. Drastically undervalued. A good time to be buying IMHO

Nice

1 share trade for people who believe in that sort of thing. Not a believer myself but who knows

Ha! Another tiny sell with a value of just £3.54 at 1.2p to try to mask the buying pressure. Desperate or what!? 😂

I see the usual tiny sells being put in to try to mask the buying pressure. Don’t be hoodwinked people 😉

Looking very good so far today

Don’t to trolls know not to feed to genuine shareholders!?

It only makes them reply with pesky, bullish facts and uplifting, heartfelt thoughts on the good times ahead!

Absolutely Rellk! With news incoming, hopefully the share price will continue its slow and steady rise until next news drops.

✅ Scirocco deal done

✅ GSA signed

✅ Field Development Plan approved

✅ 25-Year Development License approved by all parties

Those were the things that shareholders said needed to be ticked off before ARA cracks on with drilling - that last one is just awaiting issue by TPDC to ARA.

Production expected within ~12 months. Got to create CH1 pad, transport that rig, drill CH1, then move it to NT1 to complete the workover on that well.

I’m excited to see what ARA can do now that the blockers are cleared. I’m also looking forward to the Knights MPR PR campaign.

Next month’s AGM should be a cracker!

You said you were a little out of touch, but you are starting to worry me (though that post of yours has gone missing - censorship of free speech makes me so angry). Are you struggling with your memory? Just getting out for a walk each day can do wonders for your mental wellbeing. Please do look after yourself.

Let me try to help with your questions:

You asked “What rig?”

So, ARA have long said that they would announce the contract for the rig once the development license was granted. The license is now fully approved and just needs to be issued. So news incoming! Woohoo!

You asked “Transport the rig?”

Yes, that’s right. If the rig isn’t transported, it will be in the wrong place and when they put the pointy bit in the ground, it won’t hit the trillions of cubic feet of lovely gas that are going to make shareholders very wealthy.

You asked “Where from?”

Easy tiger! You are clearly excited and hungry for answers - which is great! Like I said, rig contract is what they’ve promised to communicate following development licence approval. The final approval was The Cabinet. That’s sorted and it is now just a case of issuing that approved licence. Rig contract - and the information you crave - incoming! Yay!

That’s why it seems fortuitous that we are now entering a 10 month period in which the weather in Tanzania tends to be much more favourable for on the ground operations.

Hope that helps. We’ve got some very exciting weeks and months ahead! Right, off to bed. A minimum of 7hrs sleep is recommended for proper cognitive and behavioural function. You should try and get some rest too 👍

Sultan Al-Gaithi confirmed that drilling shouldn’t be affected by the wet season but may affect TPDC doing the trenching for the pipeline to Madimba. Better weather must make pad construction and transportation of the rig easier though.

The poor people of Tanzania have recently endured horrific weather, with floods that have caused a large number of fatalities.

By most accounts, May typically marks the end of the heaviest rainy season and the start of a long dry season through to the end of October. Then light rains for another 2 months before a further short dry season to end of Feb.

Let’s hope those next 10 months bring good weather and relief for the good people of Tanzania.

The timing also looks fortuitous for the pipeline to move from design to construction phase. Also, for ARA to prepare drill sites and transport the rig.

Ducks lining up!

Https://sg.finance.yahoo.com/news/1-tanzanian-lng-project-delayed-081055402.html

Agreement on financial terms for Shell and Equinor’s offshore LNG project is being delayed. It sounds like the negotiating parties are a long way apart at the moment.

This shows what an achievement it has been for ARA to get our GSA and Development Licence approved.

I wonder if having Ruvuma as a vast and much lower cost asset has changed Tanzania’s appetite and perceived negotiating leverage in relation to the offshore LNG.

Good news for Aminex as it will leave us as the undisputed, biggest game in town for even longer. Those pipelines to Uganda, Kenya and beyond are going to need to get their gas from somewhere!

I'm hoping that the schedule will not just be for CH1. In Nov 2022 Aminex said that, in addition to CH1, full field development "envisages the drilling of up to five additional wells in 2024" (at that point, CH1 was pencilled in for 2023). So, their intention was to do CH1 then a further 5 wells quickly after.

Obviously, that was before the 3D seismic results, so the number of planned wells might increase...though I'd be happy with another 5 wells through the course of 2025!