Aminex Share Discussion Threads

[ngms27] 15/4/2015 08:46

foolsandcows,

Have you compared AEX reserves against Wentworth?

AEX have around 200BCF at present...

[pj 1] 15/4/2015 08:36

Morning GJ, hope you made some £££; on it.

Didnt sleep well ( I rarely do) so maybe unknowingly yes. Other than that all OK.

Just dont talk to me

[gerryjames] 15/4/2015 08:33

In a mood this morning PJ? Lol. You know how the game works, some would say it's good financial management and brokerage. I wish all the Companies at HH the very best, especially ALBA.

[pj 1] 15/4/2015 08:02

So SOLO do a placing, followed by todays HH RNS update i.e. it was ramped and flogged to death

Disgraceful, how on earth can anyone trust SOLO or for that matter AEX, it astonishing

[lfdkmp] 15/4/2015 07:45

Tanzania authorities to Orca:

"Until you sort out this historical tax issue, forget about any agreements for future supplies"

Speculation of course, but maybe an obstacle has been removed.

[blackgold00] 15/4/2015 06:38

thanks Vike1, yes boring

took them a while to find the error.

("Orca" or the "Company") today announced that it will restate its 2013 audited consolidated financial statements and 2014 unaudited consolidated interim financial statements for the three, six and nine month periods, due principally to computational errors involving Tanzania income tax from 2005 and through to the third quarter of 2014."

"The combined effect of these errors was an understatement of taxable income and a cumulative underpayment of tax from 2005 to 31 December 2013 of $3.5 million, which the Company has reported and intends to pay forthwith. The Tanzania Revenue Authority has the right to assess penalties and interest on overdue taxes, which if assessed could be up to $1.6 million and would not be recoverable under the PSA."

[haggismchaggis] 14/4/2015 22:34

Starting takeover rumours about SOLO didn't do anything for their share price. AEX have the biggest cut of Ruvuma plus tcf probable offshore so I would put AEX as a better takeover candidate for Tanzania.

[vike1] 14/4/2015 21:56

Turns out Orca was halted because it found 'computational errors' in its tax filings and needs to restate its 2013 and 2014 Financial Statements.

Boring.

[foolsandcows] 14/4/2015 18:43

The balance of the loan is $7.8 million including interest and redemption premium.

Sale of Kiliwani North Development Licence, 6.5% for $3.5 million ($3.3 net)

Ntorya-2 approx. $10 million Aminex contribute 75% for $7.5 million

Roughly!!

$7.8 - $3.3 = $4.5 Debt

$4.5 + $7.5 = $12 minimum

Wentworth raised $46 million after a reserves report for 11.4 Tcf gross discovered and undiscovered mean Gas Initially-in-Place

[ngms27] 14/4/2015 17:25

They need more than $12m, loans were $10.2m at year end though $3.3m may have been paid down. Other liabilities amount to $2.2m

Therefore I would think they need to raise circa $20m to just drill Ntorya-2

That's inferring a 50% haircut plus some for existing shareholders.

[foolsandcows] 14/4/2015 16:56

Solo have stated money is for Ruvuma..it is ready and waiting.

Aminex require approx. $12m to pay off debt and fund Ntorya-2 (assuming Solo go 13%)

Or a deferral of the loan and approx. $7.5m (assuming Solo go 13%)


I think a loan on the back of the CPR is increasingly becoming more likely..although a deferral and equity raise after a price rise may be more prudent?

[foolsandcows] 14/4/2015 16:26

$4m left...I wonder for what?

;)

[foolsandcows] 14/4/2015 16:21

Solo will need approx. $2.5m for Ntorya-2

[foolsandcows] 14/4/2015 16:06

I wonder if the pace is about to pick up slightly...

[blackgold00] 14/4/2015 16:04

"Following Admission, the Company's issued share capital will consist of 5,516,830,571 Ordinary Shares"

[gerryjames] 14/4/2015 15:59

Just like that... 2 million sterling. Marvelous.

"Solo Oil plc today announces that it has raised GBP2,000,000 gross proceeds through the issue of 363,636,364 new ordinary shares of 0.01 pence each in the Company ("Placing Shares") at a price of 0.55 pence per share (the "Placing"). The Placing Shares which were issued at a discount of approximately 8% to yesterday's closing bid market price represent approximately 6.59% of the Company's enlarged issued share capital.

The funds from the Placing will be deployed as working capital in the Company's active investments in both Tanzania and the UK."

[ngms27] 14/4/2015 15:06

What a pile of POO. This resource is pure chicken feed to Shell. They won't be interested in anything less than 10 TCF proven I would think.

[thecynical1] 14/4/2015 13:57

a bit like Maurel and Prom selling out to Cove.....LOL! : )

[ngms27] 14/4/2015 13:14

No but they did sell all the pipe they stored on Songo Songo Island for years and never used!

Something like $3m worth

[thecynical1] 14/4/2015 13:09

BB - do you think that Jay would recognise the pipeline? or any other pipeline for that matter? : )

[blackgold00] 14/4/2015 12:54

yes he didn't seem that well in the interview he did with Jay. he was coughing a lot, hope he's alright.

[gerryjames] 14/4/2015 12:49

6 months on AIM isn't it, since the British invented Canada probably similar...actually it may be a year. Sorry to hear about Malcy.

[blackgold00] 14/4/2015 12:48

I wonder with TSX rules, How long can a temporary suspension (halt) be imposed? I have looked but can't find it.

[bunbooster2] 14/4/2015 12:20

Perhaps the orcas are responsible for the pipeline problems along the seabord. Are they trying to mate with sections of the line? Can someone ask Jay for a clarification?