Member Info for vike1

For anyone suddenly excited about AEX, is there'll be plenty of opportunities to buy in before the big drill next year. Yay?

I will say though, a female leader is exactly what the country needs. Hopefully it’s a calm peaceful transition.

It’s not great.

The bills will start coming fast and furiously in 2H this year. Paying for seismic and drill doesn’t match up with CEO plans to start announcing deals in the coming weeks and months. Mgmt is selling soon IMO.

Between cash on hand and value of HE1 liquid holding, the market is essentially valuing Ruvuma at $0. Crazy.

Sounds like dealings in the Rovuma basin, in Mozambique down south.

Personally, I still think there's merit in a tie-up for both companies. We need cash and revenue to progress projects such as Kiliwani South and Nyuni. WEN need growth and expansion at a low price tag, such as Ruvuma field development on a free carry. Agree though, it's prob on the backburner now, as neither company is happy with their current valuation and there's little shareholder appetite to do a deal in this environment.

With a rebounding oil price, perhaps interest in our shiny new rigs will be of interest to someone. They have clear value, just need a bit of demand

We have no employees and therefore no oil services to deliver, I suspect. Would like to hear more about WEEM if there is in fact activity there -- passed that off for dead and dusted years ago. At 1% it's not material, but might cover a few months' rent.

There were oil shows in the NT2 drill. At past AGM's, mgmt suggested it could be in the deeper sands. Wouldn't hold your breath for it though.

The play here is natural gas. Ideally for industrial or export use, since domestic demand is currently met by other providers.

Agree, I don't expect renewal to be a 'problem' but it could take longer than we think it should. Things move slowly in TZ, with no transparency, and us laptop warriors are easily spooked. Hence, the big discounts applied to all companies that operate there. Personally, I'm hoping for newsflow starting around end of Q3 announcing some feedback on seismic work and ordering of long-lead items for a Q1 drill.

If it was AEX running the show, I'd be skeptical on any timelines. ARA is part of a much more sophisticated machine though, so will give them the benefit of the doubt for now.

+$5n was a cash payout not a loan. There was an advance paid (due to farm out delay) then forgiven once FO signed.

3D seismic underway (ish) which is important, yet lights the investor fire in nobody. The sp here is easily excitable though newsflow is a 2H story.

The comment on paid PR is calling out Malcy for what he is. IMO a charlatan that pretends to be some neutral oracle on all things oil & gas.

I don't mind him being a paid marketer, but he should disclose who's paying his fees. Pretty desperate stuff from the juniors that do pay him.

BG, what I'd really like to see is some transparency over what these initiatives include. Not fair to shareholders to constantly be guessing.

Camarco -- can you please prod the company (and our new Exec Chair) to provide some guidance for us? Even high level would suffice at this point. Thank you.

Thanks Jackpack. I don't actually subscribe to his private post, but have been tempted because I like his no nonsense approach. OJim's biggest bugaboo seems to cost of financing these O&G projects, which is fair -- usually benefits those raising the capital on preferred terms at the cost of PIs. In AEX's case, we have a clean financing for Ruvuma, which is a rarity (not to say financing won't be needed for other costs). Sentiment and patience is at all-time low for Aminex, which is why we trade so low. This will return in 2H of the year as LOS to drill becomes clearer, IMO. Same story goes for almost all O&G cos as well.

Finally, a believable take:

“Aminex (AEX) announced a strategic and corporate update. It’s cutting the fat and intends to reduce gross general and administrative costs by 30% this year from 2020 levels, with an additional 25-30% reduction in 2022. The Board is being reduced from five directors to three and from some of the negative commentary, the "cost reduction process” appears to include some of their paid PR. Objectives now are to capitalise on Ruvuma, maintain discipline on expenditures and pursue strategic initiatives. It’s starting to look like a decent bet.”

https://**********************/2021/01/ujo-rbd-bpc-88e-copl-blvn-aex-eco-adme.html?m=1

Farm down Kiliwani and Nyuni to Zubairs. Only way we’ll get 3D seismic in those assets while they’re in the neighborhood. And yes I mean K-south. K-N1 is a write off IMO if they can’t even get govt approval for a bag of sponges

FWIW, Malcys blog is meaningless. His comments today are simply code for "AEX has stopped paying my influencer fee" and therefore has no more use for them. He's basically a one-man show proactive investors marketing board. Buyer beware with that one.

Blackgold, we SHOULD still keep negotiating those rights. They're just paper assets though until we develop them. Some nice window dressing for our future partners.

If we're cutting costs by 2/3rds by next year, we won't have anyone on our payroll to do anything. Perhaps that's a knock against the argument that we'll merge with WEN -- they don't have any operational resources either.

At this point, I'd like to see Zubair Corp pump some more investment into the company -- we can be their UK based public vehicle for whatever they want to do.

Well that was a damp squib. What strategic initiatives? We're clearly a shell company now. Turn the lights off and keep this one in the shelf until Q122.

I'd say a tie-up with WEN or other is a foregone conclusion after this announcement. Hopefully not until after the CH1 drill though. Would be a waste of value to do anything beforehand.