Aminex Share Discussion Threads

[pj 1] 14/5/2015 20:39

Also how come none of the recently published proactive investor updates and staged Malcy interviews with his old buddy.... have failed to ask...

a) what the hell happened to the farm out with significant interest?

b) Why did you give the USA assets away for peanuts?

c) Why did you not focus on the more manageable USA assets and ditch Tanzania?

d) Why did you purchase a worthless Canyon?

e) How much longer can you string Investors along for?

f) What happened to the imaginary and ghostly strategic Investors

g) Why can you not find another Chairman. The current one wants out asap?

h)Why do you never talk about the ''hugely supportive'' Argo?

[vike1] 14/5/2015 20:27

Was sort of hoping the CPR would include some extra treats such as clearer identification of hydrocarbons in the basin. no such luck.

[pj 1] 14/5/2015 20:26

How many years is it since any future prediction from an AEX Director actually became fact?

If you read my AGM notes from 2013 it is nothing short of an utter catastrophy. I am obviously not going to say I was allegedly lied to, but you all need to draw your own unbiased conclusions.

On balance, would any interested party expect any Director to turn around and say '' actually the GSA will probably not be signed before the end of July?''?
Off course not! Or would you expect him to say ''it will be signed soon'' (but Im not going to say days, weeks or months :-0 Off course you would. Therefore, it is of no value.

Remember well it is the duty of the BoD to be positive. Just like they were in the 2013 AGM

You have been warned more than once!!

[studentinvestor13] 14/5/2015 18:50

You would think so but no. I own shares in ADSS and when I spoke to mgmt who are well connected they are saying that rig prices in East Africa are not coming down by much at all because there is barely any competition for rigs and it costs a ton to try and source them from elsewhere.

So not quite the rig price drop that you may think....

[haggismchaggis] 14/5/2015 17:44

I consider that a good interview. Jay is 100% certain that the gas will be flowing at the end of H1 and that the GSA is complete and will be signed before that. No more is required than that, a GSA today would not make the gas flow any sooner. The hold up on the GSA is payment protection insurance, which it is imperative we get based on Tanzania disorganised payments to Orca over the years.Ntorya is likely to get a fast track connection to the pipeline and that will double our revenues. Jay is looking for a cheap deal on a rig to drill Ntorya 2, the market for drilling having dropped substantially means that it should be easy to get a cheap deal on a rig.Things look very bullish for AEX from July 2015 onwards.

[mycr0ft] 14/5/2015 17:37

JB at 0:36 in the interview: "The gas sales agreement is to all intents and purposes complete. What we are waiting on is payment protection."

[qackers] 14/5/2015 17:05

waiting payment protection. Anticipating production "back end of this half year".
Told by Tanzanian government that should be delivering gas in July.
Everything else in project coming in on time.

[ngms27] 14/5/2015 17:03

Whats another 6 months when it's already 18 months delayed.
However that would be seriously bad news for Aminex and there funding requirements.

[larsson 2] 14/5/2015 16:59

Then that is not imminent more like I'm not sure the issue remains out of our control but hoping soon scenario. Back to normal then.

[jacks13] 14/5/2015 16:54

Jay was pressed in the interview to say when the gsa might be signed. He refused to do so on the reasonable grounds that it was something beyond his control. On that basis next week is not his expectation; publicly at any rate.

[larsson 2] 14/5/2015 16:50

Well imminently to me means any day not weeks and certainly not months. So with that (albeit I have not seen the interview or heard that specific quote) but should we not have the GSA before us next week that AGM is going to be awkward to say the least. Note the Market gave little credence to the statement as I would have expected that share price to rise on rumour however we have been here before for so long I think everyone wants to see that paper signed and being waved about as proof the GSA has finally been executed and looks favourably at AEX finances.

Can it be true a week to go or less!!!?? I cant believe it.....yet.

[blackgold00] 14/5/2015 16:44

‘imminent̵7;, i haven't heard that for a while, it might just mean what it says by now.

[mycr0ft] 14/5/2015 16:23

Aminex chief: Gas sales agreement ‘imminent̵7;
ProactiveInvestors Stocktube
ProactiveInvestors Stocktube
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Published on 14 May 2015

Jay Bhattacherjee, the chief executive of Aminex (LON:AEX), says the gas sales agreement in Tanzania is ‘for all intents and purposes complete’, with the signing expected ‘imminently217;. It comes as Aminex and joint venture partner Solo Oil (LON:SOLO) unveiled an independent assessment, identifying a potential 4.7 trillion cubic feet (tcf) of gas within the Ruvuma project, onshore Tanzania. Today’s competent person’s report also defined 44 billion cubic feet (bcf) of gas at the Kiliwani North Development Licence, where the partners are currently advancing to first production.

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[blackgold00] 14/5/2015 15:14

thats an old interview is'nt it, hmm maybe not, but im at work and cant get the sound

[proactivest] 14/5/2015 15:00

Video interview with CEO Bhattacherjee



Jay Bhattacherjee, the chief executive of Aminex (LON:AEX), says the gas sales agreement in Tanzania is ‘for all intents and purposes complete’, with the signing expected ‘imminently’.
It comes as Aminex and joint venture partner Solo Oil (LON:SOLO) unveiled an independent assessment, identifying a potential 4.7 trillion cubic feet (tcf) of gas within the Ruvuma project, onshore Tanzania. Today’s competent person’s report also defined 44 billion cubic feet (bcf) of gas at the Kiliwani North Development Licence, where the partners are currently advancing to first production.

[vike1] 14/5/2015 12:54

Agree w Mycr0ft. GSA holdup relates to financial assurances. It seems there is some activity there at least.

As for today, looks like a pre-AGM olive branch that gives mgmt something to say. We're in a 'show me the money' environment now though. Only GSA or Farmout news will re-rate this stock.

[mycr0ft] 14/5/2015 10:56

The GSA hinges on payment protection. I reckon it is ready to be signed but until there is proper financial risk mitigation controls in place, it would surely be nonsensical for AEX to sign it.

[blackgold00] 14/5/2015 10:53

we already knew, we found out from our yellow jumper friends, so more pretty pictures for us to look at next week.

"The Company would like to inform shareholders that an updated corporate presentation will be presented at its forthcoming AGM on May 20(th) which will incorporate the new resource numbers."

[larsson 2] 14/5/2015 10:33

But who would want to get involved with the Tanzanian Govt if the predecessors go bust due to delay after delay due to red tape and what was a troubled authority? Investors are more likely to be wary and look elsewhere until processes are speeded up somewhat.

[pj 1] 14/5/2015 10:29

If AEX goes bust then would not the seismic surveys pass to ARGO who I assume would auction to the highest bidder via Tanz involvement?

No doubt the Tanz authorities would insist on a fully funded bid including prospective drilling.

Im probably way off the mark......yet again....

[warbaby43] 14/5/2015 10:22

"The appraisal programme will comprise a further seismic survey to delineate the extent of the Ntorya discovery and drilling of an appraisal well and the Appraisal Licence area consists of nine contiguous five minute by five minute graticular blocks around the Ntorya-1 discovery from a total of 72 blocks in the PSA area. The Appraisal Licence is granted for a period of two years with options to extend at the discretion of the Minister for Energy & Minerals."

RNS of 8th July 2013 but as I recall the Licence was gazetted on 13th June 2013.

Meanwhile with a hat tip to gone fishin on iii:

[blackgold00] 14/5/2015 10:00

"Cash, or lack of it, talks" and so does our seismic serveys and the drill-bit

[cervelo] 14/5/2015 09:58

Any Wentworth holders recall how long it took to get theirs signed off?

[pj 1] 14/5/2015 09:48

IMO they do not know the exact position with the GSA, hence previous (unproven) references to their excellent relationship with the Tanz authorities.

This is Business, cold hard fact. Anyone who has been in Business knows previous un-monitised relationships are worth NIL.

Cash, or lack of it, talks

[larsson 2] 14/5/2015 09:30

Im hoping this will spike to 5p after this great wait and the volume of shares traded will be a record breaker for sure. However the Management are indeed not really forthcoming I think as to where and why the GSA has taken soooo long in coming.
Is it really because the Tanz Govt are slow in processing or what?