Aminex Share Discussion Threads

[bw64402] 19/11/2015 07:22

Yeh, thinking about it we've just given away 50% of the Crown Jewels. Desperate times and all that. Better to have 37.5% of something than 85% of nothing.

[bigsi2] 19/11/2015 07:22

Not a particularly happy BLVN holder this morning- how long have you been waiting for that GSA with Pprotection ?? 2years plus??

[bw64402] 19/11/2015 07:20

Yes slepy. I wonder if Tanzania government were worried about their finances and this gives them assurances?!

[bw64402] 19/11/2015 07:19

From bowleven's rns "this opportunity offers high quality near-term production and cashflow, alongside significant exploration/appraisal upside, located near existing infrastructure, enabling low cost rapid development and monetisation of discovered resources."

[slepy] 19/11/2015 07:18

Yes, but if GSA was signed, they would have to double the price to get in!

[bw64402] 19/11/2015 07:10

Everything coming together at last. Finances substantially de-risked with this announcement. Just need GSA (there's no way someone would put $20+m in without knowing this will go ahead)

[cinques] 19/11/2015 07:07

Just hope the Tanz government signs all the forms plus a sales agreement !

[blackgold00] 19/11/2015 07:07

well something has happened at lest. take a bit to get head around

[bunbooster2] 19/11/2015 07:05

24 million dollar farmout RNS! -

Cash consideration of $8.5 million
· Shares in Bowleven to the value of $5 million with a 9 month lock-up period
· Net carry of $10 million on all Ruvuma PSA activity, enabling a multi well programme
· A cash bonus of $0.5 million on the completion of drilling of the Ntorya-2 well
· A bonus of $4 million, to be settled in cash or shares at Bowleven's option, payable on achieving commercial production from the Ruvuma PSA for a minimum of 30 days

[m0rrisminor] 19/11/2015 05:05

Dear Dan the epic sell up!.

[kevjones2] 19/11/2015 01:01

I find the one red 'thumbs down' Dan got to be rather amusing. The points he made are so irrefutable that it stopped the discussion board in its tracks until now. What amuses me is that someone saw fit to red thumb a post not because of its 100% accuracy but simply because they didn't want to see it! Lol.

[dan_the_epic] 18/11/2015 16:14

What is most startling is Aminex managements SELF PROFESSED FAILINGS SO FAR Here are Aminex's 4 objectives for 2015 from 1st Quarter IMS statement



Now how are we doing with those 4 objectives? Err...

1. FAIL
2. FAIL
3. FAIL
4. FAIL

Management = LOL. Whats the betting they don't update on those four in a similar manner? Odds on for sure.

[diku] 18/11/2015 15:57

Is this a slippery oily company?...

[blackgold00] 18/11/2015 15:27

Well yes Dunderheed, there's now quite a bit in that mix of Aminex's uncertainties. hopefully, tomorrows IMS ( that's if we get it) will clear some of the issues up.

[dunderheed] 18/11/2015 14:35

Agree but they seem to be doing quite a bit of drilling at the moment so maybe these 'issues' could be getting cleared up?
EDIT - not saying that is the case - just throwing into the mix.

[blackgold00] 18/11/2015 13:28

Dunderheed, yes but its not that strait forward. As far as I know and understand, the Songo Songo field is not connected to TPDC new processing plant that feeds into the new National Natural Gas Infrastructure. Nor has Orca successfully agreed terms of contract to supply gas to TPDC and into their new gas infrastructure.



"The Off-Shore Programme is intended to restore and expand field productive capacity from approximately 83 million standard cubic feet per day (“MMscfd”) prior to the programme to approximately 190 MMscfd on completion of the programme. When completed, the field is expected to be capable of both filling the existing Songas infrastructure to capacity of approximately 102 MMscfd, as well as providing additional gas volumes to the newly commissioned National Natural Gas Infrastructure Project (“NNGIP”) as and when contracted."

Negotiations between Orca and TPDC to supply gas have been at a stale-mate for a couple of years now. The sticking point I believe is Orca's current PSA, and all the legal advantages that Orca has and have exploited to the full.

2Q interim report page 6



"The US$1.2 billion government sponsored Tanzania National Natural Gas Infrastructure Project (“NNGIP”) is substantially complete, with first gas expected by the end of 2015. Discussions between TPDC, the Ministry of
Energy and Minerals and the Company on commercial terms for future incremental gas sales again showed no progress during the quarter and to the date of this report. Commercial terms remain a key condition to the Company’s commitment to expanded Songo Songo development beyond the existing Songas infrastructure and to supply gas to the NNGIP."

[dunderheed] 18/11/2015 13:05

Orca are doing prod wells now aren't they?

[greyingsurfer] 18/11/2015 12:54

I do hope there will be no need for BJ to say "The Company would like to thank all shareholders for their continued patience regarding the Gas Sales Agreement"

I'm sure all who hold share that view! However, since I don't see them either holding the GSA news or the IMS to suit each other I'd say the probability is high that the IMS won't report a signed GSA if it comes tomorrow. Is there likely to be any significant clarification of why it's not signed? Would be nice but again I can't see it as likely. AFAICS the company know little more that we do about why it's continually delayed.

What we do know it that TPDC have put a big investment into the pipeline and processing plant, that the Tanz govt is heavily committed to rapid growth in domestic gas use, that AEX has gas ready to flow once the taps are turned, and not many others do (other than M&P/Wentworth, who can only increase by a limited amount in the short term). That leaves the key factor being just how much gas is needed and how quickly. Which is where we lack clarity. As an outsider it looks like economic lunacy to to fail to get the KN-1 GSA sorted and a second source of supply confirmed - which would also allow movement forward on N-2, whose gas is likely to be needed by the time it's ready to produce. But almost certainly what's happening on the inside is a lot more complex, and I suspect we will never know the details.

Peter
(Busy saving up in case I need to buy that virtual pint for warbaby at the New Year.)

[juuunx2] 18/11/2015 11:13

I think just about everyone waiting for price jump on news. I hope Mr B delivers soon because I too am hovering over the sell button as patience is wearing thin. Reminds me of an old stock I used to be in called Alexander mining. Anyone get caught in those promises that never delivered? Can't believe I fell for it twice!!!

[blackgold00] 18/11/2015 10:38

well, there must be a strong probability now, for the IMS arriving tomorrow Thursday 19th. I do hope there will be no need for BJ to say "The Company would like to thank all shareholders for their continued patience regarding the Gas Sales Agreement"

[larsson 2] 18/11/2015 09:42

How this share price is holding up is starting to defy logic considering the promises and deadlines never materialise and future survival becomes increasingly doubtful as each day passes by. The forces of the Market still believe..just.

[blackgold00] 18/11/2015 07:48

I didn't realise it had changed, though I suppose Aminex would had notified share holders if it intended not to publish its Q3 IMS report.



(UK Corporate Update)
Listed companies no longer required to publish interim management statements
20 November 2014

Background

"The Transparency Directive was amended in November 2013 to remove the requirement for an IMS. Member States are required to implement that change into national law by November 2015, but the UK Government wanted to remove the requirement to publish an IMS early, partly to encourage a greater focus on the long term by companies and investors. The Financial Conduct Authority published a consultation in July 2014 on amendments to the Disclosure and Transparency Rules to implement the change."