Member Info for vike1

Good to see Tanzania / TPSC as the government showcase sponsor at the upcoming Africa Energies Summit in London. Looks like a good lineup.

https://www.africaenergiessummit.com/sponsors-2026

FWIW, Amber Energy LLC-FZ, purchaser of 51% of Orca’s TZ assets, is a UAE based company. Know any other Middle East investors interested in Tanzania?

It would be a no cash transaction of course. Issue shares for assets and Balance Sheet, which would be accretive quickly at the right price. Curious to know more about the 51% buyer, Amber Energy Inc LLP. Who are they? Must be different to the US shop w same name that owns Citco. A bit mysterious.

Missed opportunity by AEX board IMO, as they sit on their hands waiting for Nyorya to give birth.

Sold their TZ business. Expected, but I thought AEX would be involved.

https://ceo.ca/@GlobeNewswire/orca-energy-group-announces-definitive-agreement-to?id=ee3b5e1a0bbe

One down, two more to go.

https://www.maureletprom.fr/en/article/success-of-the-mb-5-gas-well-in-tanzania

UAE has a corporate tax. Diversifies jurisdiction away from ME cld be reasons.

Or participation in future M&A activities alongside AEX (Orca?). Purely speculating.

ARA offshore then holds the consolidated stake (c. Ntorya 75% + AEX 27% )? Cleaner structure in event of possible future buyout.

M&P drilling will complete in October, apparently.

https://dailynews.co.tz/tpdc-executes-strategic-projects-to-boost-gas-production/

Orca is liquidating its cash holdings to sell the operations IMO. Good assets if buyer can secure a licence extention for Songo Songo.

Thanks P26. Interesting M&P no longer using its in-house rigs. Maybe all on other side of continent (or just aging out). Good articles.

Interesting too this PURA article from Jan 27th (apols if already posted). ARA talking about size of Ruvuma block. They see it holding 3.45 Trillion cubic feet, though have only reported 1.87 Tn so far. That's a lot of gas. Crazy amounts for an onshore find.

https://www.pura.go.tz/news/petroleum-data-interpretation-sparks-hope-for-more-natural-gas-discoveries-in-mtwara

From today's M&P update on their TZ drill: "The rig is now mobilised on site for the three-well drilling campaign. The spud initially planned for December will now take place during the first half of February. These wells will sustainably increase the gross production potential of the field, which currently stands at around 100 mmcfd, beyond the 130 mmcfd capacity of the facilities."

If we are going to use their in-house rig (Caroil), they're starting a bit behind schedule.

Also intersting is this: ..." in Tanzania with TPDC and PURA ... following approval of the Kiliwani North work programme and budget for 2026 in Dar es Salaam yesterday."

Interesting development there. Aminex is Operator for Kiliwani and owns about 2/3 of it.

Operational update incoming.

Some of the strongest commitments in a long time, noting development plans in both Kiliwani and Nyuni once Ntorya up and running. More production on its way.

Another sign of capitulation is their COO resigned two months ago, a role which they said they're 'not replacing'. Odd for a producer. Kiliwani is also on Songo Songo, which we share with ORCA andd where we own 66% of the KN gas field. If we want to be an operator again, we'll need cash flow and staff. Can do it organically, but will take a longer time.

orca has fantastic producing assets in songo songo with significant reserves. they've totally ****ed off the govt though, through constant court cases and have lost all goodwill in the country. if they chose to sell (or merge) with a tz-friendly management team, their prospects would turn around quickly.

i suspect they're giving up, which is why their draining their excess balance sheet cash. producing assets will be there for the taking.

I think a merger of Orca and Aminex makes sense. Current production + Balance sheet strength + Ruvuma L/T growth is a compelling story.

One clear caveat is that Orca Board would have to go completely. They have no credibility with govt anymore. With ARA support, local regulators would be likely to support the move.

Announced it's paying out a special dividend of $1 per share. Opened the day at $3.85, making it 26% one-off dividend. This is on top of its regular $0.40 annual dividend.

Over the years in Tanzania, they've built up too big a cash pile, and now chucking it out to shareholders.

Why is this Board dominated by a guy named RoJo, who seems to have no interest in company.

206 Aminex postings in last 30 days.

14 of last 25 postings.

Lots of interesting stuff with AEX over next 12-18 months. Let it have some oxygen here, please.

Give the Boar