Aminex Share Discussion Threads

[rich2006] 19/11/2015 08:05

AEX holders might want to check out Bowlevens recent drilling activity and future drilling activity, also the farmout to lukoil to see the potential of the shares we hopefully will receive.
Testing currently underway on 2 drills with multiple zones identified.
2 drills due early/mid 2016, most likely to be around June.

[pj 1] 19/11/2015 08:04

Nice to see some good news for you Guys for a change........

[marnewton] 19/11/2015 08:01

But we are the operator!

M

[haideralifool] 19/11/2015 08:00

I was getting all happy reading the posts here and then read the RNS...the buyer is Bowleven. I have those too...frying pan and fire.

[marnewton] 19/11/2015 07:58

Morning Dave, is our boat finally in the offing?¬)


Thanks BigSi2...good luck to us all;¬)


Yep, good point rich;¬)


ATB

M

[gerryjames] 19/11/2015 07:55

Happy Bunny.

[warbaby43] 19/11/2015 07:54

blackgold@54612, read again bg, apparently from 30/11/15 we will have 92.5% of Nyuni following RAK's walk out.

Overall, a lot to absorb but the implication is that all the lengthy discussions with "a substantial financial group/a major financial institution" to obtain funding for the Ruvuma programme came to nowt. As this would have enabled them to retain that all so special 75% along with the retention of the major chunk of KN-1 revenue, the initial response is one of disappointment. However, bw64402@54609 sums it up well and I guess near desperate times means vulnerability.

Will next RNS be of departure of Tommy Mac and end of Gemini connection?

[bunbooster2] 19/11/2015 07:54

So where's the share price going to go to today then? :)

[bunbooster2] 19/11/2015 07:53

Great point about the farmout basically just being of the part that Tullow gave up! There was no way Aminex should have been funding that kind of share of the drills so farming out like this is great. Cash in the bank, loan paid off, risk spread, reduced outlay for drilling some of which will be carried. I'm happy with this.

[oilretire] 19/11/2015 07:53

Yes rich, good point. AEX & SOLO have just flipped what TLW gave away for free :-)

[bigsi2] 19/11/2015 07:52

bw64402 - lol I hope so- best of luck to you all from a BLVN holder

[lfdkmp] 19/11/2015 07:52

For the sake of balance, will be interested to hear Epic Dan's and KJones's take on this.

(Only) partial failure?

[marnewton] 19/11/2015 07:50

Aye, that enigmatic smile;¬)

And hopefully the Bulldozer will be bulldozing!

M

[rich2006] 19/11/2015 07:47

In the current climate and aminex's cash position, license commitments and current share price, this in IMO is a good deal.
Aminex got this increased holding in the license for how much ???? Off the previous license holder.
Nil nowt zilch.
This draws a line in the sand, activity on the ground at last with hopefully early drilling in 2016 when the details of the HOT are signed.

[dfgo] 19/11/2015 07:47

well done the AEX team,and good luck all Genuine AEX holders

[cinques] 19/11/2015 07:41

Still gotta deal with the Tanz government - who don't seem in any hurry.

But at least there is a massive pipe running up to Dar - monetization of gas finds easier with an obvious route to market.

[lfdkmp] 19/11/2015 07:41

Balance sheet rebuilt.

GSA now by end of 2015.- But revenue also expected from Kiliwani during Q4 2015.

Could we at (long) last be getting there?

Wonder how JB's smile will be described this time?

[slepy] 19/11/2015 07:38

IMO because of the delay with GSA, we are giving away big part of both our assets for not much money. I'm sure all long term holders remember the time when we had Nyuni and Ntorya being drilled, and how fast $20mil gets burned.

[cinques] 19/11/2015 07:34

BLVN have done well here, but AEX gets to breathe again.

[gerryjames] 19/11/2015 07:33

I wonder how the share price will react, fire sale or prudent debt management? So that accounts for the "smile".

[rich2006] 19/11/2015 07:33

Cash in hand, free carry and future bonus payments and shares in Bowleven which gives possible upside depending on their current testing and future drilling in 2016.
What's not to like.
Do you all remember how Aminex and solo arrived at their respective increase in the license.
IMO this removes all the risks that Aminex have had for the last 4/5 years. Lack of cash.

[blackgold00] 19/11/2015 07:32

so we still hold 70% of the Nyuni Area PSA

[larsson 2] 19/11/2015 07:31

Didnt expect that so well done better than expected outcome I guess/

[blackgold00] 19/11/2015 07:28

"On completion of the transactions, Aminex will retain an operated 30.575% interest in KNDL and an operated 37.5% interest in the Ruvuma PSA. Shareholders are reminded that Solo retains its option to purchase a further 6.5% stake in KNDL (before TPDC back-in) on the terms previously advised to shareholders.

Aminex Chief Executive Jay Bhattacherjee commented:

"Today's disposal and farm out is a landmark transaction for the Company and I am delighted to welcome Bowleven as a joint venture partner. Bowleven has built an enviable position in Cameroon and has a strong technical team who share the same ideology as us and we feel will strengthen the prospects of development."

[bw64402] 19/11/2015 07:24

Ha ha bigsi2. We've been here for the last 6 years. You don't know pain! Guy feel tells me you'll do well out of this deal!