Aminex Share Discussion Threads

[bhoytrader] 09/3/2015 13:47

Yip - 12.5% of APEL's 80% interest.

[last throw] 09/3/2015 13:45

Gerry - 12.5% of 80% is 10% ..... simples!

LT

[thegreatgeraldo] 09/3/2015 13:44

No, it's a 10% interest

[bhoytrader] 09/3/2015 13:43

Better than a kick in the balls.

[gerryjames] 09/3/2015 13:35

Recovering costs first...that'll take a while, then 12.5% of a 10% interest in 430 boe.*

*Thank-you LT, thegreatgerardo....10%. Talking rollocks above.

[blackgold00] 09/3/2015 09:31

I just looked that one up, yes could be.

[gerryjames] 09/3/2015 08:29

Yes, he demonstrates an anal retentive tendency.

[blackgold00] 09/3/2015 07:58

gerryjames, yes sorry I wasn't thinking Bun specifically I was meaning generally (why would any one). yes Bun doesn't like a disorderly board.

[blackgold00] 09/3/2015 07:30

and why would you give the thumbs up for the second post and not the first if it says exactly the same, if you think the second post deserves a thumbs up then sorely the first does as well.

[bunbooster2] 09/3/2015 05:37

Can I please remind everyone to not post the same thing twice. It wastes all our time and DOES NOT get your point across any more forcefully.

[ngms27] 08/3/2015 16:51

Wentworth maybe exciting given TPDC have asked them to fill the pipeline in the next two years.

Solo well what can I say, p1ssing in the wind

[ngms27] 08/3/2015 16:50

Wentworth maybe exciting given TPDC have asked them to fill the pipeline in the next two years.

Solo well what can I say, p1ssing in the wind

[vike1] 08/3/2015 14:54

Anyone attending the Oilbarrel Conference on Thursday? With both Solo and Wentworth presenting, could be insightful for AEX. Admission looks free.
Vike

[blackgold00] 07/3/2015 17:25

i don't think the artical said any thing new regarding Tanesco debt and payments to Orca, other than what was reported by Orca on the 24 Feb. though it has to be good that Tanesco are paying regularly now. i think the date that could make things interesting is 9th April when we should know whether the International Finance Corporation (“IFC”) will get their board approval to provide the funding for the first phase of the songo songo development/workover, I have my doubts as the project looks like it carries quite a bit of risk of not being successful and the costs running away.



As I'm seeing it the Orca and TPDC negotiations re; GSA and the gas field development, under their existing PSA has totally broken down or at least none has taken place for over a year now. it looks like TPDC has left Orca to sink or swim, with them deciding not to participate in the proposed development.

Orca desperately need to arrest the declining production rates of the Songo Songo gas field, several wells have already been suspended because of corrosion and the SS-4 well is now being closely monitored and might also have to be taken off-line. This is going to have direct impact on Orca's production/revenue, as they can only draw from the (additional production), that which is produced over and above the first 45mmcfd (protected production). I sense a bit of politics in play with how Orca is playing their hand.



"In order to fill the existing Songas infrastructure to capacity and provide operational redundancy, the Company is contemplating a first phase of offshore development consisting of working over two existing wells (SS-5 and SS-9) that are currently suspended, working over an existing production well (SS-7) and drilling a new offshore development well (SS-12). The workovers, if successful, will use the existing infrastructure (platform and flow-lines). Should the workovers be deemed unfeasible or prove to be unsuccessful during the workover operation, it is expected that the wells will be either side-tracked or abandoned and new wells drilled to replace the old wells."

"The Company estimates the cost of the first phase of Songo Songo field development to be approximately US$120 million. Additional drilling resulting from unsuccessful workovers could cost from US$20 million to US$40 million depending on whether one or two new wellbores are required."

TANESCO payments
"TANESCO currently owes the Company US$60.3 million of which US$55.9 million is in arrears. Having instituted regular weekly payments in Q2 and Q3 2014, TANESCO made only one payment in Q4 2014. Since the beginning of 2015, TANESCO has made five of six weekly payments of TZsh 3.0 billion (approximately US$1.7 million). The Company currently has approximately US$59 million in cash, of which US$34 million is held outside of Tanzania."

[warbaby43] 07/3/2015 16:45

Btw blackgold, as our resident Orca watcher, does what appears in today's Daily News tally with your understanding of where Orca are at with Tanesco?

[blackgold00] 07/3/2015 16:43

thanks for that warbaby, "Statoil etc being in any hurry to do anything other than kick the project decision much further down the line"

yes 2016 i think for a decision, well like you say a decision on whether to kick the project further down the road or not.

[warbaby43] 07/3/2015 16:06

Rather more than that blackgold, especially as the international gas price was already on the way down before the main oil price drop

a) There are a clutch of LNG projects already under way and far ahead of Tanzania leading to industry apprehension of a gas glut in the next decade.

b) Industry apprehension over costs partly stoked up by the Chevron Australian experience where projected cost of $34bn escalated to $57bn and with the Statoil Tanzania Country Manager describing the seabed there as anything but flat and instead being one of ravines and canyons i.e. an expensive place to construct subsurface infrastructure

c) The onward march of fracking - as that technology stands to be improved still further, more shale fields in more countries are probably going to emerge as being economic, making more countries gas independent. (Imagine the blow to the LNG market if the apparently vast shale deposits in western China prove to economically frackable.) All this, of course, on top of the possibility/probability of the US becoming a major gas exporter.

d) With no shortage of other LNG candidates, Tanzania must suffer due not only to its dire reputation as a place to do business with its endemic corruption, its bureaucracy and its politics, but also of course, with its lack of so much basic infrastructure.

While Tanzania does have a significant geographical advantage, in view of all the other uncertainties very difficult to see BG, Exxon, Statoil etc being in any hurry to do anything other than kick the project decision much further down the line.

Hope, I'm wrong though.

[last throw] 07/3/2015 15:14

cheers black - but surely any delay in offshore stuff must be to the benefit of Aminex but I read warbaby's post as if it was a warning to us ...............??????

LT

[blackgold00] 07/3/2015 13:44

last throw, i think warbaby is referring to the calaps in the price of oil and its consequences on any new LNG project.

[last throw] 07/3/2015 12:13

warbaby

Always interested in your posts but this last one seems a bit too cryptic for my senior brain - can you elaborate please?

LT

[warbaby43] 07/3/2015 12:02

The penny still doesn't appear to have dropped regarding the increasingly large question mark there is over any near term development of the offshore gas:

[warbaby43] 07/3/2015 11:58

Next step an Orca GSA and then.........?