Aminex Share Discussion Threads

[edgar222] 01/9/2015 20:12

I know I am repeating myself but filter them.

[warbaby43] 01/9/2015 19:22

Meanwhile, following presentations round the City, perhaps, like lst year when it came on September 4th, an RNS later this week with link a to the slides showing all those pretty seismic images depicting the rationale behind Ntorya-3 as well as, hopefully, answering a few other questions.

[lfdkmp] 01/9/2015 18:47

"Why bother posting Dan?"

In my 40+ years' experience of investing - even occasionally successfully- all the 22 year old gurus that I've met crave recognition and if they can't get that (can be a bit difficult to distinguish a 22 year old guru from a 21 year old guru) at least attention.

Gee, JDK14 & LFDKMP fell for it again.

[jdk14] 01/9/2015 17:38

Why bother posting Dan? Are you trying to impress people or are you just a troll? Maybe you're the kind of person who rubber necks when there's an accident on the motorway!

[lfdkmp] 01/9/2015 17:25

Wow, such omniscience. Are you a guru?

[dan_the_epic] 01/9/2015 16:46

Oh look sub 2.03p close EXACTLY like I predicted.

Under 2p by end of week. Looketh here young ones. Looketh.

[warbaby43] 01/9/2015 16:28

As for Moldova, this from Note 12 in the H1 Report:

"he Directors do not consider the assets in Moldova to be core to the business of the Group and have no plans to drill any new wells under the agreement and have reached a provisional agreement to sell these assets. The Directors are satisfied that it is appropriate to classify the Moldova assets as an asset held for sale within current assets as a sale is highly probable within twelve months of the date of issue of this report." As I recall, however, they have previously indicated a sale to be under way and as for $425k, I'll believe it when I see it.

[edgar222] 01/9/2015 13:23

Don't like the Investors Chronicle but this is worth a listen just for the doom and gloom that comes across. NOT aminex specific but sector specific. They describe the real difficulties in any junior exploration companies raising money.

It is those with production or NEAR PRODUCTION that are attractive and will survive.

FWIW

[blackgold00] 01/9/2015 12:03

or cats and dogs looking for those blue birds now in a clear blue sky,the vultures have had their chance so maybe now some running bulls, no scaredy cats or bears and none of those mad march hare's.

[lfdkmp] 01/9/2015 11:42

Ducks lining up, cows coming home.

Didn't realise AEX was in the agricultural sector - next thing people will be talking about water, horses and drink; and nobody must even think of rabbits and hats ;-)

[rich2006] 01/9/2015 11:18

Every penny counts lol
The cows are coming home

[edgar222] 01/9/2015 11:07

Ooh yes forgot about Egypt in the income stream list

[rich2006] 01/9/2015 10:59

No probs Blackgold
$10 per barrel not to be sniffed at, especially considering AEX's finances atm.
LFDKMP
Nail on the head IMO
Sentiment is key IMO to a re-rate here.

Correct me if I am wrong
Egypt .................... .................Done deal, monetisation, diversification, Focus on core assets. Cash Flow
USA Shoats creek etc. ..............Done deal, monetisation, diversification, Focus on core assets. Cash Flow
Moldova..................................Watch this space
Tanzania...................................Core focus, cash flow? "imminent" lol

Hopefully Jay B. will provide a comprehensive update when the GSA is signed (hopefully this week) on the expected Cash flow from Shoats creek as well as funding news for drilling at the end of the year.

Ducks lining up nicely IMO, just need the markets to settle.

[blackgold00] 01/9/2015 10:00

thanks rich, $10 per barrel looks like a good deal now at today's oil price

[lfdkmp] 01/9/2015 09:49

What is the opposite of a downward spiral? Is there any chance that we are beginning to witness it with AEX?

[rich2006] 01/9/2015 09:49

$10 per barrel as part of the sale agreement upto $4.5m
250bopd x $10 = $2500 per day
How does the gas produced affect payments
Was there any other production from shorts creek.

[blackgold00] 01/9/2015 09:39

thanks edgar222, not a bad result that for Northcote. and like you say a chance of some funds coming Aminex way, how much was it again? 5% of production or was it 10% to pay off $5 million

[edgar222] 01/9/2015 09:32

Rich

They are due payments from Northcote in America and Solo in Tanzania (when they take up the second chunk of KN1).

But KN1 will be the only income stream. But it will be sizeable.

Then appraisal drilling of Ntorya (December / January) will allow them to bring Ntorya online with a GSA and a pipeline hook up. Second income stream, bigger field, liquids included, capital needed for pipeline and processing but two wells to produce is the plan.

[rich2006] 01/9/2015 09:29

Would I be correct that AEX will have a 2nd source of income when the GSA is eventually signed and the gas starts flowing.

[edgar222] 01/9/2015 08:56

Northcote RNS

We might actually get paid !




Northcote is pleased to announce test results for the Lutcher Moore #20 well (LM #20) at Shoats Creek Field, Beauregard Parish, Louisiana in which it owns a 93% working interest, of 260 barrels of oil and 500 mcf of natural gas per day (or 340 barrels of oil equivalent per day on the basis of 6 mcf of natural gas per barrel of equivalent).

HIGHLIGHTS:
•24 hour test result at LM#20 of 340 BOEPD (237.15 net to Northcote)
•Application filed for allowable daily production limit for the well of up to 250 BOPD gross
•Shoats Creek drilling inventory increased by up to three drill locations from its previously announced 8 well drilling inventory
•Management expects the well to pay out the $813,750 investment in approximately 10 to 12 months at a $40 oil price

Northcote Managing Director Randall J. Connally said, "We have been very pleased with this well during every step of drilling, completion and testing. The well has substantially exceeded our pre-drill expectations in multiple areas including thickness of pay-zone, oil cut and daily rates achieved during testing. We used the very best geological and engineering consultants as well as latest thinking in the techniques and equipment available for development of this formation. We believe this outcome validates that Shoats Creek has substantial development potential and underscores the original rationale for our acquisition of this company making oil and gas asset both initially from Aminex and then the acquisition more recently of NAP USA, Inc.

“I would note that our peak test rate exceeded 360 barrels of oil and 800 mcf of natural gas per day or approximately 500 barrels of oil equivalent per day. We believe the final test represents a long-term optimal production rate to balance daily production with maximisation of long term recoverable reserves from the well bore. I expect that the well should pay out our investment in approximately 10 to 12 months at a $40 oil price based on sustainable production in the range of 200 to 250 barrels of oil and associated natural gas."

[rich2006] 01/9/2015 08:23

Talking of milking it
Any views on LM#20

[haggismchaggis] 01/9/2015 07:48

The Tanzania Government are sure milking it!

[britstox] 01/9/2015 07:34

You seem to have a beef with him.