Aminex Share Discussion Threads

[greyingsurfer] 09/1/2017 14:18

Hi WB

- Reserves declaration requires "commercial production" - when?

I think they would argue that they already have "commercial production" - it's being produced and being paid for on a, presumably regular basis. The take or pay "commercial rate" which we are still waiting for relates to a specific agreement - requiring payment in advance, which is something different from the normal meaning of commercial production.

I'd suspect now that we won't get that agreement signed until TPDC are prepared to take something a lot nearer to the full production capacity. - Which I'm assuming is the issue. It's just possible that there is still testing/commissioning, probably related to the gas plant going on, but it seems unlikely after all this time.

- 30+mmcfd - sometime in the 2020s?
I'd go for a bit sooner than that!

Peter

[stinkypeet] 09/1/2017 13:04

NO ngms my take on it cncerns the "calorific" value; I suggest that as the "calorific value" of the gas is a lot higher than originally anticipated the gas plant at Songo Songo doesn't require as much....? So 15 mmscf/d equates to 22 with the increased calorific value.

But, honestly, only guessing.

[ngms27] 09/1/2017 12:54

What happened to the 23mmscfpd requirement to keep the plant working?

Are they therefore producing for periods then not producing for periods to average this out?

[warbaby43] 09/1/2017 12:49

Mightily relieved to learn that at least KN-1 is still in production with related questions being:

- Are payments being made as per agreement
- How much has been received to end of 2016
- What is happening to the condensate and at what price
- Reserves declaration requires "commercial production" - when?
- 30+mmcfd - sometime in the 2020s?

And on Ruvuma:

- State of play with Lindi extension (Likonde straddles the Mtwara/Lindi border)
- State of play with the Mtwara extension and the 4 explo well obligation with its associated penalty of up to 15% of KN-1
- Plans for Namisange seismic (to accompany the N-3 3D mooted recently by Ritson?)
- Next in line for drillbit after N-3
- Financing options (presumably dependent on N-2/N-3 success?)

[greyingsurfer] 09/1/2017 11:43

They should have advised of the short fall as soon as they knew

They said it on Dec 5th, 19th, 21st and Jan 9th. They've also made clear, in Oct, that the well has produced at 30+, and is clearly capable of producing at the target rates. The limiting factor is presumably what TPDC are prepared to take at present. So until that issue is resolved it's probably fair to assume that production will be limited to 15.

Peter

[pj 1] 09/1/2017 11:02

Not in this case IMO. But AEX had given production guidance and therefore Revenue guidance at agreed known pricing. They should have advised of the short fall as soon as they knew, Maybe Thomo wasnt happy about comms who knows? It won't affect the drill bit anyway will it

[bunbooster2] 09/1/2017 10:31

Could there be a case for fraud?

[pj 1] 09/1/2017 10:14

They could have given those production figures much sooner. IMO they should have done as they could materially affect the valuation of the Company.

No wonder Jay looked so uncomfortable in the recent Proactive Investores etc etc

Also as AEX is fully listed they have to be much mope careful with communications than SOLO

[stinkypeet] 09/1/2017 09:43

The KN1 production figures were a bit disappointing. "If you have bad news to release, bury it under some good news".

Besides which bigdouble on the LSE board had already let the cat out of the bag.

[bunbooster2] 09/1/2017 09:28

Market not liking the RNS for some reason. Is there something to read between the lines?

[ngms27] 09/1/2017 08:43

Which ties in with todays RNS so does seem like it was accurate...

[blackgold00] 09/1/2017 08:14

so what was that all about last week, with bigdouble and NR.

according to bigdouble from you know where, he's had correspondence from NR
--------------------------------------------------------------------------
"Asked him about possible pay zones on the way down"

Answer

"Some small gas charged sand stringers may be encountered, but the main interest is at 2400 m or so. Well at intermediate casing point now at ~1300 m."
----------------------------------------------------------------------

[blackgold00] 09/1/2017 07:21

didn't read that edgar, well that should keep the wolfs from the door

[warbaby43] 09/1/2017 07:21

Good to see such very encouraging N-2 progress and while it might not be 30+ mmcfd or even 25-30mmcfd, it is something of a relief to see that KN-1 is still actually producing:

"The Kiliwani North Field has been independently ascribed with 28 BCF gross contingent (2C) resource and is currently in production at 15 mmcfd."

Be even nicer to learn how much they have been and are being paid.

[edgar222] 09/1/2017 07:14

KN1 production at 15 million per day confirmed

[talkman2] 09/1/2017 07:11

The target Cretaceous formation is over 800 metres if I have read it right !

[blackgold00] 09/1/2017 07:06

and there you have it. nothing more or nothing less

Drilling Status and Schedule

-- " On 5 January the 17" hole section was cased and cemented to a depth of 1,326 metres.
-- Drilling recommenced on 7 January in the 12" section which will be cased and cemented at 2,095 metres.

-- Following this an 8 1/2 " section is planned through the target Cretaceous formation to an estimated total depth of 2,860 metres".

[buffythebuffoon] 06/1/2017 10:39

My mistake. Apologies.

Buffy

[blackgold00] 06/1/2017 08:06

buffy yes, but it didn't come from Aminex

[buffythebuffoon] 06/1/2017 00:07

Any comment on drilling progress must be by RNS, not by replying to an individuals email.

He should reprimand himself!

Just one more reason why this company is not worthy of a large investment.

Buffy

[pj 1] 05/1/2017 22:09

All ok bg thanks, hope you are too?

Not in heavy, far from it, but looking for this Co. to put its fists where its mouth has been and prove up these 'world class assets' that they spouted on about for years (before 2016 anyway). Strange how they have gone quiet on that?

Seriously, Ritsons alleged comments are best ignored

[blackgold00] 05/1/2017 21:09

helo PJ, how you doing?

[pj 1] 05/1/2017 20:19

NR's PR has hardly proved worthwhile previously has it?

Load of Hot Air.

[blackgold00] 05/1/2017 19:26

think of this what you will

SOLO board lse

bigdouble Posts: 3,895

NR Today 18:32

"I've been given a repermand for sharing information yesterday. AEX unhappy about it it would seem. No more e mails for a while. Maybe AEX should employ me instead of the useless PR company they have."

well i'm not surprised