Aminex Share Discussion Threads

[risk1] 02/4/2015 10:11

As soon as Ole LT starts conversing with management u know u are in the poo imo

[warbaby43] 02/4/2015 10:08

Small wonder Tanesco can't pay Orca:

'The Treasury Registrar directed all governmental institutions to clear their bills to Tanesco so as to enable the power utility firm carry out and complete its development projects.


“Current statistics show that many government institutions, including the police and defence forces, owe Tanesco over Sh200 billion,” he said.'

[edgar222] 01/4/2015 19:55

Ritson today


[...]

[thecynical1] 01/4/2015 18:48

guess we may see a little more weakness yet.........but jmo!

[foolsandcows] 01/4/2015 16:33

Capitulation point the trigger for the inflection point? mm having games...

[skinwalker] 01/4/2015 15:29

capitulation point...near?

[foolsandcows] 01/4/2015 14:53

inflection point...near?

[foolsandcows] 01/4/2015 14:49

hxxp://www.proactiveinvestors.co.uk/companies/stocktube/3637/solo-oil-chairman-says-company-may-double-stake-when-gas-sales-deal-signed-3637.html

[warbaby43] 01/4/2015 13:18

This year, last year, the year before, sometime ...........?

[thecynical1] 01/4/2015 12:24

interesting RNS.........market doesn't think much of it based on the price action......I wonder....

[bunbooster2] 01/4/2015 10:44

Nice april fool today. Q3 ha ha ha.

[haggismchaggis] 01/4/2015 08:57

Neil Ritson, Solo's Chairman, commented:"The project remains on track for first commercial sales in the mid-year and once the gas sales agreement comes into force we will consider our option to double our interest in the project from 6.5% to 13%."

[haggismchaggis] 01/4/2015 08:41

People on the fence are running out of time to load up. Commercial gas mid year. GSA any day now with associated SOLO cash payment. Egypt second well soon. Exciting times.

[888icb] 01/4/2015 08:20

It has opened blue.

[slepy] 01/4/2015 08:14

I very much doubt it will be blue.

Corporate Update
Regional Pipeline Complete
Notice of Results and Date of AGM


Aminex's preliminary results for the year ended 31 December 2014 will be released on 14 April 2015 and the Annual General Meeting will be held in Dublin on 20 May 2015. Further details for the Annual General Meeting will be published in the Notice of Meeting in due course.

The Company has been informed by the Tanzanian Petroleum Development Corporation ('TPDC') that the new regional pipeline to Dar es Salaam is now complete and hydrostatic pressure testing will begin shortly. The construction of the processing plant on Songo Songo Island is approximately 95% complete and it is anticipated that the main pipeline contractor will hand over the management of the infrastructure including the processing plants to TPDC late Q3 2015.

Based on this indicative timetable from TPDC and the continuing progress with the Gas Sales Agreement, the Company expects commercial production will commence mid-year, with stabilised production rates achieved in the Q3 2015.

[1bonanza] 01/4/2015 07:53

April Fools? No this is a blue day !

[lfdkmp] 01/4/2015 05:45

greyingsurfer

thanks for clarifying

[greyingsurfer] 31/3/2015 17:19

Anyone shed light on this extract from the link above? :-

.......Mr Simbachawene also said that the government was fulfilling contractual obligations not to release oil and gas contracts the government signed with foreign and local investors, but insisted that Tanzania is getting a fair deal for its newfound natural resources.

I'd assume it means that the existing contracts are set as confidential by the existing laws, so they can't be made public - but that even though they can't be released he regards them as fair. Apparently, the new petroleum law will remove the restriction on publication, though acting retrospectively might be challenged if that's what he means.

Peter

[warbaby43] 31/3/2015 17:03

For those interested, FM Global's resilience index compiled in conjunction with the World Economic Forum and perhaps the sort of thing prospective lenders/farminees/acquirers might have a quick look at. Tanzania not too bad on some but absolutely dire on other measures such as corruption. Botswana, which the Tanzanian government say they wish to emulate, does appear to score consistently well.



Oil rich Venezuela is no 130 and bottom.

[lfdkmp] 31/3/2015 16:42

Anyone shed light on this extract from the link above? :-

.......Mr Simbachawene also said that the government was fulfilling contractual obligations not to release oil and gas contracts the government signed with foreign and local investors, but insisted that Tanzania is getting a fair deal for its newfound natural resources.

“It is impossible for the government to release the contracts because we are bound by confidentiality clauses according to Petroleum (Exploration and Production) Act, 1980 and Mineral Act of 2010,” he told reporters, adding that the ministry will soon table before the National Assembly Petroleum Bill to repel the current Act.

“This shortcoming will soon come to an end as we are making final touches and expect to table the Bill after the budget session,” he said.......

[warbaby43] 31/3/2015 15:41

"The new gas discovery has been made in the Tertiary and Cretaceous sandstones."

[edgar222] 31/3/2015 13:01

Solo write up

[warbaby43] 31/3/2015 10:57

What is more than a little concerning is that notwithstanding their GSA and a credibly monestised 80m cfd on the near horizon, Wentworth's share price has gone south and remained south. A reflection of the sector or market scepticism towards Tanzania or what?

A year ago 48p, June 2014 51p and today 28p.

[edgar222] 31/3/2015 09:46

The Wentworth slippage to July for first gas sales may be highly relevant to the Aminex debt position if, but only if, the slippage translates to more time passing before the GSA is signed.

We have long known that gas sales would not pay off the debt. But the GSA is delaying monetisation generally and the second tranche sale to Solo specifically and both those are v relevant to the debt position.

Hoping that the timescale for the gas going down the pipeline is entirely separate from the Tz approval process of a contract ! The evidence would suggest it is given WRL's contract in September but its squeaky bum time.