Aminex Share Discussion Threads

[edgar222] 14/4/2015 12:18

Malcy talks of light at the end of the tunnel in today's blog.

[bunbooster2] 14/4/2015 12:18

No wait, killer whale.

[blackgold00] 14/4/2015 12:18

hi dbfromgb, yes first time they have mentioned the GSA as part of a wider commercial negotiation, and I too have felt the delays in the GSA are orca related in some way. with another well SS-4 looking like it could be shut-in/suspended (3rd Q Report) Orca position is becoming weaker, as any loss of production has to come from Orcas share of production the (additional gas) not the (protected gas), yes as I see it the IFC (development funding) is absolutely critical. Watching Orcas news releases keenly.

[bunbooster2] 14/4/2015 12:05

Orca is a sale.

[vike1] 14/4/2015 11:55

The Orca trading halt is one to watch. Was issued end of day on April 9 "at the request of the company pending corporate news." Is a long time to be halted. Are they signing a new GSA as well? Could be a sale.

Re results, seems nothing new ex progress on the Moldova sale. Would have like more direction on Egypt and whether payments from US asset sale commenced on Jan 1 as expected.

[thecynical1] 14/4/2015 11:55

all very cloak and dagger, nudge, nudge, wink, wink on here today.....

[blackgold00] 14/4/2015 11:45

well we can all start to look forward to the AGM on 20th May now

[skinwalker] 14/4/2015 11:34

No, ngms is not the Dorset Pudding.
The Dorset Pudding is the Nodding Donkey aka the Kimmeridge Cuckoo

[blackgold00] 14/4/2015 11:30

ngms27 is from Dorset, I think but he's not a Dorset pudding, so who else? not me I'm a Devon Bumpkin

[thecynical1] 14/4/2015 11:23

BB2 - cracking set of results? have you read the bit about the "going concern".....? That is imo not cracking......but hey....

[ngms27] 14/4/2015 10:55

LOL, nearly as good as AFR's

[bunbooster2] 14/4/2015 10:15

All looking good here. Cracking set of results.

[foolsandcows] 14/4/2015 09:26

5:47

Ruvuma GSA

[foolsandcows] 14/4/2015 09:18

There is currently a regional gas pipeline being built which passes through the Ruvuma licence and should increase the value of the Ntorya discovery. Aminex said on Thursday that construction of the line remains on schedule and that a gas sales agreement for part of the Ruvuma Licence is largely complete.

hxxp://www.morningstar.co.uk/uk/news/AN_1400757192884891400/aminex-and-solo-oil-complete-2d-seismic-at-ntorya-1-in-tanzania.aspx

[dbfromgb] 14/4/2015 09:08

Orca shares are currently suspended at the company's request, pending a corporate announcement. That may relate to them having sorted out their field development funding, which in turn was dependent on agreeing terms for the GSA. Or it may relate to the approaches they received last year. Either way, it looks as if they are close to decision time.The only new thing I could see today was the explanation that our GSA is part of a wider commercial negotiation. That ties in with the orca share suspension, and to me offers some encouragement that things are coming to a head.I have always had a feeling that the delays in the GSA were orca related, so found today's announcement positive. Everything else was I thought exactly as expected.

[codhead1] 14/4/2015 09:02

Cheers gerry. Just for a moment..................ah well.

[gerryjames] 14/4/2015 08:59

It's an ADVFN error half my monitor is in auction. Or LSE perhaps.

[codhead1] 14/4/2015 08:58

Both Wentworth and Aminex gone into auction at the same time. What's going on.

[foolsandcows] 14/4/2015 08:48

My judgement is a GSA is being sought to combine the sale of gas from the KNDL and Ntorya.

[edgar222] 14/4/2015 08:39

Just had some more time to read.

Likonde and Namisange mentioned here:

"An appraisal licence (or "Location") has been issued by the Tanzanian Government for the Ntorya-1 gas discovery. Aminex acquired 181 km of 2D seismic during 2014 to appraise the Ntorya discovery and to select drill locations over the key Likonde and Namisange prospects. The Ntorya-1 well, drilled in 2012, discovered a gross 25-metre sandstone interval and, based on the new 2014 seismic, Aminex estimates 1.9 TCF Pmean gas in-place resource for the Cenomanian sandstone reservoir. The Ntorya-1 well flowed over 20 million cubic feet per day on a 1" choke (equivalent to over 3,000 BOPD) with produced 139 barrels of 53˚ API associated condensate, believed by the Company to be the largest volume of liquid hydrocarbons tested to date in the Ruvuma Basin, onshore or offshore. The Ntorya-2 appraisal well, planned to be drilled in 2015, will target the primary Cenomanian and the secondary Tertiary reservoir intervals. It will test a total of 2.3 TCF Pmean estimated gas in-place.

Prior to Ntorya-1, the Company and its partners drilled Likonde-1 in 2010 which identified a 250-metre reservoir section with strong indications of migrated liquid hydrocarbons and which encountered source gas at depth. The new seismic data has identified two new drill locations updip of Likonde-1 and an additional well location over the Namisange prospect aimed at unlocking the potential of that part of the PSA area.

Drilling is scheduled to begin in the second half of 2015 to appraise the Ntorya discovery. The new regional gas pipeline will provide ample delivery capability for gas from the expected development of Ntorya and probably for any subsequent discoveries which the Company may make in the Ruvuma basin. The main pipeline will pass within 12 km of the Ntorya-1 discovery well.

Exploration drilling is planned over key prospects prior to the termination of the PSA in December 2016 when the remainder of the exploration acreage, outside designated appraisal, development or production licences, is due to be relinquished."



KN1 section is more specific but not much that is new:

"Aminex expects first production from the Kiliwani North field during the current half-year. This will start with the supply of gas to pressure-test the new sales pipeline and gas plant. Revenue gas will commence flowing shortly thereafter. The construction of the major new regional gas pipeline system in Tanzania, from the south-east corner of the Ruvuma Basin, close to the border with Mozambique, to Dar es Salaam, is complete and commissioning is expected during the first half of 2015. The new facilities are within easy reach of Aminex's Kiliwani North and Ntorya discoveries in Tanzania, making gas production on and close to shore in Tanzania commercially viable. Negotiations on a Gas Sales Agreement ('GSA') remain subject to continuing delays as the draft agreement passes through various Tanzanian governmental reviews but Aminex expects the GSA to be completed and signed in the near future, with satisfactory payment protection terms in place and prior to first production from the Kiliwani North field. The Tanzanian government's newly installed 540 km 36" diameter pipeline will provide ample delivery capability for Kiliwani North gas and a new treatment plant on Songo-Songo Island is located less than 2 km from Kiliwani North. TPDC's contractors have constructed a sales line from the Kiliwani North wellhead to the nearby processing plant at their cost and Kiliwani North gas will be sold at wellhead through a metering unit which the Company is installing at minimal cost to the joint venture. The price that the Company will receive will be net at wellhead and not subject to any pipeline tariff or processing cost. Kiliwani North-1 has been production-tested at 40 MMscfd but production is expected to commence at 20 MMscfd (approximately 3,500 BOED) from the field in order to manage depletion most effectively. The Company believes that this level of production can be maintained for 36 months and then declined in a manner best suited to maximising the life of the reservoir. After a partial disposal of Kiliwani North to Solo Oil plc, completed in February 2015, Aminex's wholly-owned subsidiary Ndovu Resources Limited ('Ndovu') has a 58.5% working interest and is the operator of the field."

[thecynical1] 14/4/2015 08:36

which will make their discussions with the financiers kind of interesting........what will they have to give away to keep the wolf from the door?