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[gizmot1000] 30/8/2015 17:16

BB - Text from the page translated

　Chinese oil network news (reporter Wang Shaoping) local time on August 20, Bremner兹ũ25;natural gas processing plant in Tanzania and delivery pipeline project processing plant torch lit, starts receiving upstream natural gas, joint commissioning for project delivery started to wrap up war.

　　For the early realization of the intake target, since July 1, China Petroleum Technology Development Corporation organized Pipeline Bureau, the three engineering firms consortium and subcontractors, labor competition, thousands of employees and Tanzania Participation overcome high temperature hot, materials lack of transport facilities and other difficulties, game schedule, game quality, game security, in accordance with international practice, Bremner 兹贝 treatment plant 29 sub-systems to carry out inspection of items sold, the completion of more than 1500 items of rectification, full acceptance; across the board for all pipeline land, sea line, station, valve chamber system to carry a total of 219 sales items to check, completed over 1300 rectification, access to all the commissioning certificate.

　　July 29, Bremner Zibei treatment plant with inlet conditions. August 1, Tanzania Petroleum Development Corporation the world's leading owner and project management company WorleyParsons confirm Bremner Zibei treatment plant and the entire pipeline, station and valve chamber realized mechanical completion.

[flyingbull] 30/8/2015 15:25

Black Monday (in August this time!) has come and gone! The September oil stock challenge is now on. Deadline for entries is midnight on Tuesday...



Good luck!!!

fb

[bunbooster2] 30/8/2015 12:59

Link doesn't work!!!

[foolsandcows] 30/8/2015 11:45

hxxps://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=search&rurl=translate.google.co.uk&sl=zh-CN&u=hxxp://news.cnpc.com.cn/system/2015/08/25/001556536.shtml&usg=ALkJrhg1wKs8fxsB9PKZ5UIMAqE3w-K4fA

[foolsandcows] 30/8/2015 11:41

hxxps://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=search&rurl=translate.google.co.uk&sl=zh-CN&u=hxxp://news.cnpc.com.cn/system/2015/08/25/001556536.shtml&usg=ALkJrhg1wKs8fxsB9PKZ5UIMAqE3w-K4fA

[ngms27] 30/8/2015 11:09

Yes that was stated previously and would obviously be the case with the costs of getting a rig on site etc.

However the questions are:

Can AEX afford a 4 well program?
How would they even raise monies for even a single well?
What effect will this have on current shareholders?

My personal view is that they will only commit to a 1 or 2 drill program for Ntorya and any explo stuff WILL ONLY be drilled in the success case prior to license expiry

[edgar222] 30/8/2015 09:57

Can anyone help ?

There are a lot of figures being bandied around with punters guessing the cost of the next four well drill programme.

My memory is that Jay talked about this in either a document or an interview.

My memory is that he said it was significantly cheaper to book a rig and drill them one after the other.

But I cant find it.

I am interested in the cost of drilling one at a time versus the cost of drilling them all together.

My memory FWIW is that the drill them all in a block cost was $8m but I would like to verify that and am not sure.

Thanks in advance

[warbaby43] 29/8/2015 13:04

Just to emphasize that Tanzania is, constitutionally, a socialist country and that no political party can paint itself to be anything other and the redder the better especially at election time



While the oil industry has long feared an african Venezuela, and ACT has no chance of getting near government, this time round at least, "nationalisation" is never far away from political lips in Tanzania.

Just like this country, though, not difficult to detect on which side the academics line up:

[thecynical1] 28/8/2015 18:25

warbaby.........surely if anyone had been interested in taking these out, they would have been taken out a while ago....they could have been had for less than half of what they are now not so long ago.......if their estimated reserves are anywhere close to real, they are still imo too small for any of the majors......they don't tend to be interested in BCF......the are normally looking for serious TCF.......but hey.....jmo.

[warbaby43] 28/8/2015 17:05

"Would still have significant value to a company the size of AEX, even if they only had say 20% interest left after a farmouts."

But, greyingsurfer, would a company of a size that could afford the assets really be interested in having the likes of Aminex and Solo as their junior partners post farmout.

Hopefully, more likely than a farmout is that they would just want to take us out in a takeover - and very welcome that would be too.

However, some of the figures being bandied about seem distinctly other worldly to me especially bearing in mind that whoever owns the assets, they are the entirely captive customers of the government of Tanzania - hopeless, backward, shambolic and irremediably corrupt Tanzania. That alone should thin down the number of prospective candidates and is why I believe that whoever comes in either via farmout or takover, it is unlikely to be a Western company and that either Indian or Chinese would be the favourites.

[liquid millionaire] 28/8/2015 13:21

Did she press him hard really hard?

[blackgold00] 28/8/2015 13:01

I think miss blondie looking younger, younger than last year when she interviewed our chief.

[skinwalker] 28/8/2015 12:25

yes continued North Sea oil production is in doubt. Where does that leave Tanzania I wonder...

[gerryjames] 28/8/2015 12:23

Not with oil and gas prices at historical lows Skin. They arrange all the interviews. Probably.

[skinwalker] 28/8/2015 11:43

£30 for the whole kit and caboodle Gerry!
Do you consider that over-generous?
What happened to Yellow Jersey?

[dfgo] 28/8/2015 11:39

about £39,150,000 at current price

[gerryjames] 28/8/2015 11:21

£30! It's $1.15 a share @ $3, per TCF...gross.

[skinwalker] 28/8/2015 11:08

Meanwhile the market values Aminex at about 30 quid.
The market rules - China has just discovered that :-)

[greyingsurfer] 28/8/2015 10:24

3 billion dollars talkman @ $3 a 1000c/f. Sorry 2.25 billion @75%.

That is the potential revenue from producing that amount, at $3mmscf.

However, that's rather different to the "value" of it, by which I'd assume most would mean the current value, or what you might be able to sell a discovered field for. That would be a lot less, since that revenue would stretch over perhaps 20 years or more and there would be opex and capex involved over that period. Even $1mmscf is probably stretching it. Would still have significant value to a company the size of AEX, even if they only had say 20% interest left after a farmouts.

Peter

[edgar222] 28/8/2015 10:03

Talkman

The other point here is that there is a new pipeline so the route to market is quick.

Not like offshore which will take years and cost billions for LNG trains

[talkman2] 28/8/2015 09:55

If it was just $1 this would be worth £486 million ( 20p )
$2 would be double ( 40p )
$3 would be triple (60p ).

Are my calculations correct.

That's just 1 tcf at Rumuva. The whole portfolio could have 5tcf plus.

No wonder a major financing house is interested in funding AEX !

[gerryjames] 28/8/2015 09:34

Technically correct if 3 was the price. Oil has a price in the ground, gas doesn't. It'll depend on the future domestic supply/ demand to set a value.

[skinwalker] 28/8/2015 09:30

are those funny-money dollars Gerry?