Aminex Share Discussion Threads

[clunes100] 25/4/2016 11:42

AEX is now under valued and the share price is now on the rise, how far will it go today whilst we await confirmation of flow rates and first payment........?

[vike1] 25/4/2016 11:00

Positive comments from Malcy's blog today on us:

"
Sundry
Finals today from Aminex which are of little interest, all the excitement is in the here and now. Since the year end the gas has started flowing at Kiliwani North which means revenues and of course books reserves. It has been a long wait for management and shareholders alike but when I spoke to Jay last week he was excited about the future but shared my view that the stock is significantly undervalued.
"

[blackgold00] 25/4/2016 10:55

well not much longer now, once the optimal flow rate has been determine and Commercial Production begins, then the funding arrangements can be finalized and the drilling contractors can start to drill.

"Together with TPDC the Company plans to conduct a well test during the production build up to determine the optimal flow rate. It is this optimal flow rate that will become the Commercial Production Rate and the Company intends to flow gas at this rate for as long as possible prior to a natural decline in production."

"The Directors anticipate that net operating revenues from Kiliwani North production will provide approximately $10-$15 million net cash flow a year to Aminex once full rates of production have commenced following testing and commissioning.
With Kiliwani North onstream, the Group will be able to reduce corporate
debt (and finalize funding arrangements ) for the next stage of drilling to offset the Company’s Ntorya discovery on the Ruvuma PSA acreage."

[vike1] 25/4/2016 10:40

Indeed, as they did last year. If the math above is correct, I have no problem with it (assuming they let the share price rise a bit more!)

[blackgold00] 25/4/2016 10:14

Vike, i think Aminex provide that right to issue 10% of the share equity each year, to take advantage of an opportunity with out having to seek share holders approval.

[vike1] 25/4/2016 09:43

Under the Articles for the AGM I see they are requesting:

Item 7 (b) page 6: "in addition and without prejudice to the authority conferred by paragraph (a) of this Resolution, the allotment of equity securities up to a maximum aggregate nominal value of €197,620."

If I understand this correctly, at a nominal value of €0.001 per common share, this translates to the right to issue 197m shares (c.+10% increase) as part of a Rights issue?

[blackgold00] 25/4/2016 09:01

i think Argo know who will put the most butter on their bread, i wouldn't be surprised to see a new favorable finance agreement between them.

Financial Review page 5

"The debt provider has supported the Board, agreeing to a further extension of the repayment date to 31 July 2016. Over the year end, Aminex was in negotiations to
complete a farm out of the Ruvuma PSA and partial disposal of Kiliwani North
Development Licence to Bowleven plc. As the parties were unable to agree a
work programme, the debt provider agreed to the termination of negotiations
and supported Aminex in retaining its licence interests."

[tmmalik] 25/4/2016 08:35

Corporate presentation seems goodThey mentioned 1m income/monthWhich they didn't receive yet,as soon as they will start getting regular income than share price will cross 3pWe will get update in next few weeks if they got more time from Tanzania authorities to complete project or Tanzania authorities wish to become partner or increase their share in these projects.

[impvesta] 25/4/2016 08:26

"First time I've seen mention of the option to ask for extension to 2019 for Ntorya/Ruvuma appraisal area and till 2017 for wider ruvuma exploration area."

Yes:

"At the Nyuni Area PSA, the Company will focus exploration activity on the deep water sector of the licence. The Tanzanian authorities have agreed to replace a commitment to acquire 2D seismic in the shallow zones with 3D seismic in the deep water sector. This will enable the acquisition of up to 700 square kilometres of new 3D seismic in the deep water. As part of this approval, a two-well commitment due to be carried out in 2015 has been deferred into the next exploration phase which expires in October 2019."

[blackgold00] 25/4/2016 08:24

Bun from the KN revenue my brackets

under finance review page 5
"The Directors anticipate that net operating revenues from Kiliwani North production will provide approximately $10-$15 million net cash flow a year to Aminex once full rates of production have commenced following testing and commissioning.
With Kiliwani North onstream, the Group will be able to reduce corporate
debt (and finalize funding arrangements ) for the next stage of drilling to offset the Company’s Ntorya discovery on the Ruvuma PSA acreage."

[bunbooster2] 25/4/2016 08:00

Digesting the material!

Plans for Summer 2016 Ntorya drilling but no talk of how this will be funded.

Hints of picking up distressed assets (nod to PCI) but no talk of how this will be funded.

First time I've seen mention of the option to ask for extension to 2019 for Ntorya/Ruvuma appraisal area and till 2017 for wider ruvuma exploration area.

[rich2006] 25/4/2016 07:20

2 RNS's and nobody posts

[skinwalker] 24/4/2016 23:03

Easy! suicidal :-)

[vike1] 24/4/2016 17:40

There was a reference in the Irish papers earlier this week that Jay was in Dublin. Didn't say why so it seemed a bit odd. This now explains it.

[fireplace22] 24/4/2016 15:20

Obviously BLVN using AEX as an Irish conduit to buy PCI. :-)

[edgar222] 24/4/2016 15:17

Am particularly interested in the Irish connection.

Not that many oilmen from Ireland and I would be amazed if Brian Hall did not know the Petroceltic crew. Who, if Malcy is to be believed, hate the idea of the Russians (Worldview) taking all the assets.

Friendly takeover of the assets Aminex want from the basket and a seat on the board for Adair from PCI to smooth it all?

Just guessing obviously but does not seem unrealistic to me

[edgar222] 24/4/2016 15:15

Am trying to understand more about the Petroceltic situation and thought this was helpful from Malcy on 6th April 2016:


Petroceltic

The words rock and hard place come to mind for the PCI board as they struggle with their advisors to recommend the best for shareholders. Made more difficult by the examinership, which process might lead to liquidation or a total recapitalisation with a near total loss of equity. Faced with this, the board seems to have had little choice but to tell shareholders to accept the offer and it must be remembered that this includes Robert Adair who was vehemently opposed to the bid in the first place. Having said all that it seems extremely unlikely that Worldview, even if they want it, will get their 90%, many shareholders, particularly long-standing smaller ones will be might irked to be ordered to submit to the Russkis. If that was to happen then it all goes back to the Examiner who will have to find a way of sorting the situation out. This may lead to Worldview finally triumphing but maybe someone else may appear, after all when the strategic review was being conducted there were other interested parties in the data room. May will probably end up seeing the denouement for PCI one way or another…
- See more at: hxxp://www.malcysblog.com/2016/04/oil-price-petroceltic-aminex-northern-finally/#sthash.xxcVsbxe.dpuf

[warbaby43] 24/4/2016 12:49

Can't help wondering if somewhere along the way someone has got "our" Aminex mixed up with Aminex Petroleum Egypt Ltd an entirely different entity and, from memory, didn't we exit completely there in return for some minuscule future production interest after all costs had been met?

[vike1] 24/4/2016 11:14

would be interesting to know how far along they are in the DD. If early days, then could take months.

As an aside, I had a chance to attend the SOLO presentation at the Master Investor show yesterday and had a catch up with some of the guys running the SOLO booth.

Things are definitely looking up. Investment sentiment in the TZ area is improving as well, using KN1 as an excellent proof of concept. AEX has been using the SOLO money to further develop Ruvuma. In addition to Farm-out or Financing, they may also look to bring in a strategic investor.

Anyone else speak with them?

[blackgold00] 24/4/2016 10:38

thank for that AimSharesOne and Vike1. Petroceltic in examinership? who knows then, if the deal is right for both of them, then the examiner could agree to some form of a deal. looks like there is some truth to the story. next week i think will be interesting.

[vike1] 24/4/2016 10:03

Another one this morning from Irish Independent

[edgar222] 24/4/2016 08:13

Petroceltic (PCI) Egypt

Production and reserves

In 2014, Petroceltic’s daily production in Egypt averaged 19,256 boepd on a working interest basis, which is equivalent to 8,675 boepd on a net entitlement basis. The working interest production split between hydrocarbon types was 95 MMscfpd of gas and 2,821 bpd liquids (oil, condensate and LPG) representing an 85%/15% split on a volume basis. Approximately 74% of the production was derived from the West Dikirnis, South Damas, and the West and South Khilala fields, with the remainder from eight smaller accumulations.

Throughout 2014, the Company continued to invest in its producing assets with new compression facilities installed at the West Khilala field to maximise gas recovery, and a small booster compressor commissioned for the South Damas field. The Company also drilled and completed two successful development wells during 2014, namely West Khilala-4ST and East Abu Khadra-1ST and conducted work-overs to re-establish production from the West Dikirnis-2 and 8 wells. While the production figure for 2014 was positive, a small number of reservoir performance issues have required a downwards adjustment to booked reserves as at 31 December 2014. In particular, recent well performance on West Khilala has been negatively impacted by water and sand production, requiring a reduction of 35 Bcf; a more modest reduction was made in respect of West Dikirnis where heavier risking was applied to the gas reserves which will be recovered during the gas cap blowdown phase late in field life.

[aimsharesone] 24/4/2016 07:25

Aminex has expressed an interest in Petroceltic’s Egyptian assets.
24th April 2016

A source with knowledge of the situation said Aminex, which recently began pumping gas at a Tanzanian project, is closely monitoring developments at Petroceltic, which is currently in examinership