Aminex Share Discussion Threads

[edgar222] 29/5/2015 08:22

Northcote update on Shoats Creek (28th May)

Northcote Energy Ltd ('Northcote' or 'the Company')

Update on New Shoats Creek Well and Exercise of Warrants

Further to the announcement of 5 May 2015, Northcote announces that drilling on
Shoats Creek will commence as soon as possible. The Shoats Creek property in
Louisiana has suffered a prolonged period of heavy weather, once this passes
drilling will commence. The Company will inform the market in due course that
the well has been spudded.

Northcote Managing Director Randall Connally said, "Our permitting and other
regulatory requirements to drill a new well at Shoats Creek are all in place
and our drilling contractor is on standby for a break in the historic series of
thunderstorms and rainfall that have inundated parts of Louisiana, Texas and
Oklahoma with flooding this year. Once the weather clears and the ground has
had a chance to dry out, we will be commencing with the new drill immediately."

[lfdkmp] 29/5/2015 07:59

Well another month almost over.

When we encounter JB, should we address him as "Your Imminence" ?

[flyingbull] 28/5/2015 18:38

The June oil stock challenge is now on. Time to decide!!! ;-) :-)


The monthly results can be found here


Good luck!!!

fb

[warbaby43] 28/5/2015 18:18

Talking about news, where's notice of licence variations?

As things stood, under the extension of the Ruvuma PSA and the grant of the Ntorya Appraisal Licence there were obligations to drill 2 + 2 explo wells on Mtwara and Lindi by end 2016, upon pain of incremental forfeiture of up to 15% of Kiliwani, and an appraisal well on Ntorya within two years of grant on 13th June 2013.

Are these five well obligations now to be satisfied by the four well programme detailed in the AGM Presentation - Ntorya-2, Namisange, Likonde updip and Sudi?

I note from the AR that there were discussions with TPDC but as this was a question begging to be asked at the AGM, did anyone go?

[blackgold00] 28/5/2015 14:41

I expect they used the AGM presentation, I think now they have the CPR backing the numbers up, they feel confidant enough now to get out there and sell the Aminex/Ruvuma story.

[vike1] 28/5/2015 14:32

I don't see why AEX doesn't promote the fact that it is presenting at conferences. Most other cos make a big deal of this. Is good to be invited! Following up by posting the presentation given would be welcome as well.

[blackgold00] 28/5/2015 14:11

so i wonder, will any thing come out of the 12th Africa Independents Forum 27 May 2015 where Philip Thompson was presenting Aminex: (Tanzania Gas Assets & Positioning for Growth)



"The 12th Africa Independents Forum gathers together key corporate independent players from across Africa, both listed and unlisted, and provides enhanced exposure to the wider oil and gas upstream industry plus key financial markets, equity financiers and investors found on AIM and the LSE, and related parties drawn from around Africa, Europe, and elsewhere."

" The Forum focuses on new and fast-growing corporate players in Africa with acreage and assets held in the Gulf of Guinea, Northwest Africa, Maghreb-North Africa, Eastern and Southern Africa, and in several landlocked and emerging littoral frontier states."

"The occasion offers you unique opportunity to meet senior management, discuss new ventures, strategy and deal-flow, evaluate exploration potential, plus farm-ins/outs, joint ventures and investment, and obtain an inside track on Africa’s fast-emerging domestic oil and gas game in which the numbers of Independents has grown substantially."

[blackgold00] 28/5/2015 13:47

"Chartist view: this is ready for next leg up." hmm, is that with or without news? we are certainly ready for the news that's going to cause the next leg up.

[granada7] 28/5/2015 12:47

PMSL

duxy786 27 May'15 - 08:11 - 52686 of 52693
Chartist view: this is ready for next leg up.

2.4p-2.5

[blackgold00] 28/5/2015 12:46

no, its not that bad news has leaked, its because good news is taking to long to leak.

[bunbooster2] 28/5/2015 12:20

Has anyone noticed the share price drop? I am worried bad news has leaked.

[bunbooster2] 27/5/2015 20:36

You have a beautiful turn of phrase baby (if I may be familiar).

[warbaby43] 27/5/2015 14:19

This gives an idea of the extent Tanzania is putting itself in hock to China as well as a flavour of the instinct there always is for nationalisations:



If it all comes off, of course, the Chinese Tanzanians are going to need gas and lots of it and there just happens to be this little Brit company down in deepest Ruvuma.........

Meanwhile, last two paras are first time I've seen publicly expressed interest in ownership of Australian registered Simba Trust, which reluctance probably has nothing to do with Tanzanian social media allegations (denied) that it is nowt more than a front for the President's wife and son.

[blackgold00] 27/5/2015 11:00

thanks warbaby43, I just looked back to the spud of Ntorya-1 and found they used the Caroil-6 rig.

"Ntorya-1 will be drilled as a vertical well to a planned total depth of 2026m, using the Caroil-6 rig"

so yes, it all depends whether the Caroil-2 capabilities is up for the job.

[jacks13] 27/5/2015 08:46

Perhaps Jay has acquired 1000 or 1500 horses from somewhere.

[warbaby43] 27/5/2015 08:21

blackgold00 @ 52684, it would depend on capabilities of Caroil-2 as they apparently intend to be quite picky - see 47558:

"Bhattacherjee is looking for a better land rig than was previously deployed and is in talks with several contractors for a unit able to work at 1000 to 1500 horsepower, but with a repair and maintenance profile that can easily be accommodated locally."

In any event, though, of one thing we can be certain and that is that if the Aminex BoD is planning on spudding Ntorya-2 in late 2015, then no drill will happen until well into 2016, at the earliest.

[duxy786] 27/5/2015 08:11

Chartist view: this is ready for next leg up.2.4p-2.5

[skinwalker] 26/5/2015 22:32

Maurel et Prom? Laurel and Hardy more like!

[blackgold00] 26/5/2015 15:32

I wonder if any thing is being planed for the Caroil 2 rig, that is after Maurel et Prom has finished drilling the MB-4 well in June? because I know of a well that has to be drilled in a very close proximity.

"which is being operated by Maurel et Prom and drilled with
the Caroil #2 drilling rig"

[ngms27] 26/5/2015 10:33

I'd go further:
They need to remain solvent (i.e. Debt needs refunding ASAP)
They need finance to drill NT-2 ASAP
They need NT-2 to be drilled AND be successful

[bunbooster2] 26/5/2015 09:59

Well Q3 is very close. The delays are frustrating but I don't think it weighs too much on the real value here. If the company can stay solvent then realising the value of the assets will be the huge value creator.

[ngms27] 26/5/2015 09:17

Wentworth now saying first gas Q3.
Watch this slip to Q4 or beyond

[warbaby43] 26/5/2015 08:00

What was pleasing in the AGM presentation was to see the rowing back from 2.3 tcf for Ntorya-2 in those daft RNSs of last September to 1.5tcf last week. Perhaps, the Yellers pointed out to them that giving such hostages to fortune is never sensible and zero credibility to start with means some canny expectations management might be a good idea.

Perhaps they'll also now manage to stop our Jay using silly words like "imminent" for events over which he has no control and which have regularly been promised to come to fruition for well over eighteen months already.