Member Info for vike1

With Ruvuma now completely under ARA control, Kiliwani and Nyuni is the only thing our mgmt has to focus on. Some update on their strategy to exploit these assets is more than overdue.

+ $5M cash.

I agree SCIR should get more than $20M equivalent for their 25% share now that the project has been significantly de-risked. But not sure they will.

? steve58. I would rethink that entire post.

Thanks for sharing. And no mention of North Sea.

PS. Who cares about the North Sea, it's a distraction. The story here is cash flow in Canada.

With sky high energy prices, tiny hedging program, and stable/ growing production, I don't know why this isn't skyrocketing.

Mgmt must've really done a number on shareholders in a past life.

Kiliwani is in Songo Songo. We feed into the same processing facility.

And yes, of course they explore. They've just discovered so much in the immediate area they haven't had to in a couple years. No one knows that immediate area better than them. To each their own, however.

This is great news and important for so many reasons, even if the net amount is a touch than some were expecting.

Will be interesting in the weeks and months ahead to see how AEX approaches next steps. We have a KN1 remediation plan, but our strategy and resources are aligned with being a non-operator. IE, we won't be the ones doing the work.

My guess and hope is for a farmout of KN1, KS2, and Nyuni with a partner that's ready to go. My strong preference would be with Orca Energy, since we already share land with them and they have the finances and people on hand.

Has it started yet? Not sure if commencement is a reportable event

Tony's been hired to advise the TZ government how to re-engage with foreign investors. No bad thing I suppose, I just hope there's some cash left over after his hefty consultancy fees.

https://www.africaintelligence.com/eastern-and-southern-africa_business/2021/10/08/tony-blair-samia-suluhu-hassan-s-new-ally,109697111-eve

Don't get me wrong, I'm as excited about recycled cow manure as the next guy, but that deal to buy Dutch natural gas assets when prices were half what they are now, seems like a big big missed opportunity.

Agree! Now if only can sort out that Kiliwani mess, we might actually have some interesting newsflow between now July22.

I'd like to see us remediate KN1, receive payment from invoices due, and gather seismic on KNS & nearshore Nyuni. THEN to farm out the asset to a team that can take over operatorship.

WEN doesn’t have the money to do a Ruvuma deal w SCIR. $20MM purchase + $40MM development costs is too rich for them w/o massive equity raise.

Haha, love that a former US President of Congress's name is censored. Perhaps some ****s should be added to the Declaration of Independence.

Help or hinder? Can't say the last guy did us any great favours, at least in terms of timeliness. Can only hope that the new guy is a bit speedier in his approvals. 3D (MoE or TPDC approval needed?), Nyuni extension, and KN1 remediation plans all need John Han****s

We don't have the benefit of ARA at the table to negotiate with the MoE, since it's not Ruvuma related (despite they're minority holding in AEX). TZ gov knows we caved on the $2m bill to get the farmout done, and will prob do it again here. It's a shame we need the $$ so badly, otherwise, we could cut a bad deal and move on from it.

BTW, does anyone know whether we need TPDC or Min Energy for 3D signoff? Hopefully the former.

Seismic plan reduced (for now) from 400 sq.km to 200 is good news for SCIR. Cheaper in the short term.

Wouldn't be surprised if SCIR are the ones who pushed for the smaller data set.

I'm hoping that's the case. Complete a reasonable amount of seismic now, leaving enough time to analyze and plan, while keeping the Q3 drill plans in place. We don't need them spending years analyzing data.

Will be cheaper in the s/t, which is good news for SCIR also.

Agreed. Would also like to know why the seismic plan is cut in half.

I just hope the new investment isn't an investment into a new investment company, like the last one.

They end up as transaction fee machines with no flowthrough to shareholders.