Aminex Share Discussion Threads

[haggismchaggis] 20/5/2015 19:07

Student (we can tell), now tell us Kiliwani revenues won't make AEX debt free, or did you miss that when rushing to bung negative figures and scaremongering on here?

[thecynical1] 20/5/2015 18:47

LOL! best comment on here in ages!!!!! : )

[greyingsurfer] 20/5/2015 18:30

I expect Aminex to be a top producer by 2017

You clearly have a very bleak outlook for the future of global gas production by 2017 if you think AEX has any chance of being a top producer :-)

Peter

[greyingsurfer] 20/5/2015 18:28

I took as net to Group after TPDC cost

Hi DFGO,

I assume by Group you mean the KNDL partners? If so you are incorrect. The prospective cash flows are stated as Net to AEX. In fact, as was said some time ago, they are "net, net, net" - i.e. net to AEX, net of tariffs and net of tax. (I'm told this was spelt out again today at the AGM).

The previous net figure given some months ago was $12m pa net. This has now changed to the stated range - $10-15 reflecting the change in interest to 58.5% and the potential increase in production, now stated as 20-30mscfd.

Peter

[greyingsurfer] 20/5/2015 18:22

greyingsurfer, $10-15m pa net cashflows - but weren't they the figures quoted to us when AEX had 65% of Kiliwani not 58.5% and shortly, we hope, to go down to 52%?

Hi, WB,

The figures quoted in today's presentation are for AEX's current 58.5% interest - which will fall to 52% if Solo take up their option on another 6.5%

Peter

[duxy786_2] 20/5/2015 17:45

Once all cleared I.e. solo taking its cut of the pie, net dept will be under $2M. The fact of the matter is none of the above is relevent. The projected sales figures after the inevitable signature is far far beyond anything most here can even project. I'll put myself out there now any say this. I expect Aminex to be a top producer by 2017 and the share price here to be over 50p up to ever £1 be this time next year.Duxy786

[studentinvestor13] 20/5/2015 17:18

Shocking that you cant read a set of financial accounts dfgo.

The facility is $8m but interest is accrued and paid at the end not in instalments! Friendly kind and 'supportive' lender Argo are charging 15% which is meaning crushing interest that has been increasing over last 2 yrs.



Bal Sht says that at 31st Dec loans were $10.2m. - $3.4m net repayment is $6.8m bare minimum but probably back to $7.2m+ and the cash will have gone down too.

Running with ice skates is what aminex are doing. ice could crack any second.

[dfgo] 20/5/2015 17:14

StudentInvestor13 20 May'15 - 16:48 - 52612 of 52613 0 0

You wish. bare minimum the debt is 6.8m US
================================

I SUGGEST YOU READ FOLLOWING AND INWARDLY DIGEST FROM
Aminex PLC Interim Management Statement - First Quarter

AEX SAY THEY HAVE ALREADY PAID $3.3MILLION.
3.3million from 8million %4.7MILLION

THE FOLLOWING FROM 19 May 2015 RNS Number : 5599N YOU WILL FIND LINK AT BOTTOM OF PAGE.

TIDMAEX
RNS Number : 5599N
Aminex PLC
19 May 2015
Aminex plc
("Aminex" or "the Company")

INTERIM MANAGEMENT STATEMENT - First Quarter 2015

STRATEGY, FINANCING AND OUTLOOK

Aminex has four primary goals for the remainder of 2015.
Firstly, to complete the repayment programme of its $8 million corporate loan facility, final repayment date of which is in July.

$3.3 million has already been repaid since the beginning of the year and the Company is in constructive discussions with the lender to extend the final repayment date if need be.

Should Solo Oil exercise its option to acquire a further 6.5% for $3.5 million within 30 days of the signing of the Kiliwani North GSA, the proceeds of this sale will be applied to further debt retirement.

With or without the exercise of this option, however, Aminex has a reasonable expectation of being able to repay or re-finance the remainder of the loan or extend the repayment period, particularly with the benefit of the expected revenues from Kiliwani North.

Secondly, the Company's main operational priority is to bring gas from the Kiliwani North Field on to production, which should be achieved with the now complete and pressure tested pipeline, the expected near-term completion of the gas processing plant infrastructure, and the signing of the Kiliwani North GSA.

Thirdly, on the Ruvuma PSA, the Company's priority is to appraise the Ntorya-1 discovery by drilling the Ntorya-2 well and gain a better understanding of it and its neighbouring leads and prospects in the two exploration licences.

Any potentially commercial gas field in the Ruvuma PSA would find a ready market in Dar es Salaam via TPDC's new regional pipeline and the fast-tracking of such a development would be strongly encouraged and assisted by the Tanzanian authorities.

Fourthly, on the Nyuni Area PSA, the Company's priority is to appraise with 3D seismic a lead identified in the deep-water portion, which the Board views as a compelling opportunity for a potential future high-impact discovery.

[jacks13] 20/5/2015 17:13

thecynical1, the Company estimate the debt to currently be $7.8m

2014 annual Report, page22:

‘Corporate Governance
Going concern basis

During the year ended 31 December 2014, the Group reached agreement with Argo Capital Management (Cyprus) Limited, representing the provider of an $8 million loan facility (the “Argo Loan”) (see Note 21), to extend the scheduled repayment date of this loan to the end of July 2015. Based on current cash flow projections, the Group will not be in a position to repay the balance of the loan, (estimated to be approximately US$7.8 million including interest and redemption premium and after actual and expected capital repayments since 31 December 2014), in full on the due date or meet its operational and capital expenditure planned for 2015 and 2016.’

[dfgo] 20/5/2015 16:53

Aminex PLC
20 May 2015
Aminex plc
("Aminex" or "the Company")
Result of AGM
Aminex PLC ("Aminex" or the "Company"), an independent oil and gas company premium-listed on the London Stock Exchange and primary-listed on the Irish Stock Exchange with activities focused in Tanzania, announces that all the resolutions put to shareholders at the Annual General Meeting of the Company held earlier today were duly passed. Details of the numbers of shares in respect of which valid proxy appointments were made in advance of the AGM are available on the Company's website, www.aminex-plc.com

[studentinvestor13] 20/5/2015 16:48

You wish. bare minimum the debt is 6.8m US

[dfgo] 20/5/2015 16:38

Peter

I took as net to Group after TPDC cost

[warbaby43] 20/5/2015 16:34

greyingsurfer, $10-15m pa net cashflows - but weren't they the figures quoted to us when AEX had 65% of Kiliwani not 58.5% and shortly, we hope, to go down to 52%?

[thecynical1] 20/5/2015 16:28

DFGO - thanks.

[dfgo] 20/5/2015 16:26

thecynical1

$8 million corporate loan facility, final repayment date of which is in July.

$3.3 million has already been repaid since the beginning of the year.

Looks like 4,700,000 left to pay.

[greyingsurfer] 20/5/2015 16:16

Hi DFGO

Kiliwani North Expected Net Cashflows $10-15MM p.a.

Those are NET cash flows.

Peter

[thecynical1] 20/5/2015 16:09

how much do they still owe on their present financing arrangement?

[dfgo] 20/5/2015 15:35

Kiliwani North Expected Net Cashflows $10-15MM p.a.

AEX share of Kiliwani North Expected revenue.
Per Annum and Monthly.

$10million per Annum 58.5% share per Annum $5,500,000 per month $482,500
$11million Per Annum 58.5% share per Annum $6,435,000 per month $536.250
$12million Per Annum 58.5% share per Annum $7,020,000 per month $585,000
$13million Per Annum 58.5% share per Annum $7,605,000 per month $633,750
$14million Per Annum 58.5% share per Annum $8,190,000 per month $682,500
$15million Per Annum 58.5% share per Annum $8,775,000 per month $731,250

[rich2006] 20/5/2015 12:19

Cheers for the links

[paulhgreen] 20/5/2015 12:17

nothing new there then

[haggismchaggis] 20/5/2015 11:03

Bounty Oil and Gas' JV operator issues a competent person's report?Bounty Oil and Gas NL has announced that its joint venture operator, Aminex Plc, has issued a Competent Person's Report of its Tanzanian assets.The report contains a detailed technical evaluation of the Tanzanian assets held by Bounty Oil and Gas in the joint venture with Aminex and others as well as attributes Contingent Resources to the Kiliwani North gas field.The evaluation has been undertaken by the consultants of Senergy Limited.The results of the report confirms that, with regards to the Kiliwani North Development Licence, the PMean Gas is initially in Place of 44 Billion Cubic Feet of which 28 Billion Cubic Feet has been booked as Contingent Resources.The Company intends to book its first categorised reserves in Tanzania once the signing of a Gas sales Agreement and commencement of production has begun.With regards to the Nyuni Area Production Sharing Agreement, the results confirm that a total Pmean gas for all shelfal leads excluding deepwater remains 5.67 Trillion Cubic Feet as audited in 2012 by RISC Advisory.  The Company remains focused on the the deeper water potential of the licence where the identified prospects are similar to the numerous discoveries made offshore.Bounty Oil and Gas' Chief Executive Officer, Phillip Kelso, commented, "We are extremely pleased with the results of the report prepared by Aminex Plc the joint venture operator as a further step to realising the potential of the gas resources in the very prospective Nyuni Block encompassing the Kiliwani North Development Licence. Quite apart from the contingent resources at Kiliwanti North the shelfal leads show that at 5% Bounty has potential gas near the new pipeline and gas plant of 283 Billion Cubic Feet showing Bounty has the potential to become a significant non operated producer. These do not include the deeper water plays in our Block centred on the Imbe and Okuza leads. The operator is making very significant progress towards signing the Gas Sales Agreement and commencing gas production this year. We are entering into a very exciting time for Bounty."hTTp://www.africanmining.com/news.php?id=3320