Aminex Share Discussion Threads

[warbaby43] 02/9/2015 13:23

Once again, worth remembering that last year Swala was stripped of a licence for non-performance.

[wantmorethan24p] 02/9/2015 13:22

CHECK OUT BOWLEVEN

[warbaby43] 02/9/2015 13:02

"Would love there to be a Gemini deal in there too and a rig booking for N2!"

It would still seem to make little economic sense to drill just one well especially when the market for rigs appears to be so soft and even more so when not only are N-2 and N-3 so close (no more than 4/5km) but that there is also JB's apparently large inventory of equipment lying at N-1 waiting to be used.

"So all positive news strands that are awaiting the GSA (yes I know it was said that financial institutions were not awaiting it but whatever!)."

Very true, edgar222, and it was said 3 months ago in the RNS of 4th June which also stated that neither was the funding conditional on a start of production at KN-1.

Of course this time three years ago saw Detmer the Delusional's mythical loan of $15m which drifted into the ether, along with our Stuard. Let's just hope the Gemini job isn't similarly apparitional.

Incidentally, if a two well drill required a Placing and Open Offer to fund the balance not covered by Gemini or A N Other, I wonder who might be up for it.

[edgar222] 02/9/2015 12:14

It may well be an RNS with the GSA confirmed and a date for gas being pumped as the two are now so close together.

Would love there to be a Gemini deal in there too and a rig booking for N2!

The Solo purchase of the second tranche might be there too and that means confirmation of 3.2m further debt paydown.

Gemini might mean the debt is completely dealt with.

So all positive news strands that are awaiting the GSA (yes I know it was said that financial institutions were not awaiting it but whatever!).

Given that the delay has been so long I would hope for an immediate (or very quick) newsflow on all these other issues.

Which means that I am not planning to sell on the GSA spike. I am going to await the next phase being confirmed. That would mean that Aminex is a debt free company with a solid income and a market cap of 40m (at these levels) that has booked reserves and is targeting 1-2TCF on the next drill (or two) and 2-3 TCF on the next drill or four.

Need another lie down.

[greyingsurfer] 02/9/2015 11:38

When the GSA is signed will we just be notified of the 'fait accompli' ... or will we get pre-notification of its imminent (wash your mouth out LFD) execution?

How much more pre notification of "imminence" do you want? When it's signed it will be signed, and we'll be told.

Peter

[lfdkmp] 02/9/2015 10:52

When the GSA is signed will we just be notified of the 'fait accompli' ... or will we get pre-notification of its imminent (wash your mouth out LFD) execution?

[blackgold00] 02/9/2015 10:45

from Wentworth's presentation, this bit is for ngms.

("Government is responsible for transportation and processing costs")

"Gas Sales Agreement (GSA) executed
– ~16 year term Agreement signed in September 2014
– Net back price of US$3.00/MMBtu for discovered gas, non-linked to Brent
– Government is responsible for transportation and processing costs
– Payment guarantee in place"

[edgar222] 02/9/2015 09:47

Not had time to read the Wentworth presentation slowly, just skimmed.

But they seem very bullish about demand for gas (not surprised) and also the state of readiness of the rest of the infrastructure and new power plants.

PS. If Lasthrow's honeymoon pushes AEX to 32p I will take you all away on holiday myself !

[blackgold00] 02/9/2015 09:36

yes last throw have a lovely honeymoon. i think my wife and me are due for another one as well, maybe next year with a little bit of luck.

[gerryjames] 02/9/2015 09:10

Yes thank-you BG.

Please don't let her name be Daisy...what's the odds?

[blackgold00] 02/9/2015 09:05

Principle terms of the transaction:



-- Sale of Aminex USA to Northcote and Springer for a total consideration of US$5,000,000;
-- US$5,000,000 payment comprises: US$150,000 of cash, US$350,000 worth of Northcote ordinary shares at a price to be set once shareholder approval is received (which will be considered as an asset available for sale) and a production payment of US$10 per barrel until a total of US$4,500,000 has been recovered with first payments to commence from 1 January 2015;

Northcote and Springer to invest a minimum of US$1,000,000 development capital into the assets over the next 12 months to increase production from the assets;

-- Development capital and the cash consideration of US$150,000 to be secured by 115 million ordinary shares of Northcote pledged by its largest shareholder, RiverBend Energy LLC., with a current market value of approximately US$1,500,000; and

-- In the event that Northcote or Springer dispose of any of their interests in Aminex USA, Aminex will receive 50% of the proceeds and up to a maximum of US$1,500,000 against the outstanding balance of the production payment and the production payment will remain a continuing obligation.

[gerryjames] 02/9/2015 09:05

That's beautiful LT...nice to hear from romantics on these brutal threads.

Also, enjoy your belated honeymoon.

[last throw] 02/9/2015 09:01

Hi all

Interesting articles courtesy of gone fishin on iii:

hxxp://www.dailynews.co.tz/index.php/local-news/49001-mtwara-petrochemical-complex-on-right-track

hxxp://www.energy-pedia.com/news/tanzania/new-164835

Good luck all in – off to Crete shortly for late honeymoon and hoping for something on my return!!!

LT

[blackgold00] 02/9/2015 07:12

Wentworth has a new presentation out

[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.