Aminex Share Discussion Threads

[gerryjames] 22/9/2015 07:30

ᔕOᖇȧ1;Y, ᒍᑌᔕ;T TEᔕTIᑎG TᕼIᔕ TE᙭T. ᗯᕼIȑ0;E ᗯᗩITI198;G. ᗰOᖇȇ8;IᑎG.

[greyingsurfer] 21/9/2015 20:25

I find it hard to believe you aren't just trying to wind everybody up.

I wouldn't try too hard!

Peter

[impvesta] 21/9/2015 20:22

KevJones2 post 53877:

"Like every single fundraising ever for a small company, be it a loan, a share dilution or whatever, it will result in the share price dropping."

What an extraordinary comment. I find it hard to believe you aren't just trying to wind everybody up.

[blackgold00] 21/9/2015 19:28

thanks skin, at lest someone understands.

[skinwalker] 21/9/2015 19:25

Kev
you don't take prisoners do you?
Is your brother Vinnie Jones?
Remember, this board is an online care-home for AS and AS2 sufferers, sadly a totally untreatable condition.

[kevjones2] 21/9/2015 16:48

"kev, the GSA could never had been signed until the payment protection was in-place and of course more obvious, is that TPDC?Tanesco had to build the demand for the gas. so we've all had to sit back and wait patiently, Wentworth included. (but the time is nigh). there, that's a new one for you, better than imminent : )"

Blackgold, that's a very disingenuous post. You know fine well there was no mention of payment protection until Wentworth got theirs 11 months AFTER their GSA. Also, TPDC and Tanesco building up demand for gas was never, ever even hinted at as being a reason for the GSA to be delayed. I really don't know how some of you guys get away with the bs you come out with.

I pray we don't see a delusional groundswell of morons trying to make out that borrowing millions of pounds or diluting shares again is a wonderful thing - I really don't. It happened on Rose bb where a bunch of well-known, notorious rampers sang the praises of the last dilution as though it was a gift from God. It was sickening to read them. Rose is now languishing at .19p because the serious investors know that fundraising (whatever way) is a disaster for a small company with next to no income.

[greyingsurfer] 21/9/2015 16:30

If it was signed even a year later (December 2014) Aminex would be producing gas and hence a revenue stream by now.

What magic would they have used to do that, Kev? Given that the pipeline has only just been connected and commissioned?

My over all point is that having to seek funding is a bad thing, not a wonderful thing that will see the share price rise

Of course it would be better if the company had the sort of cash it needs to appraise Ntorya, run seismic on deep water Nyuni, redrill Likonde etc all from its own pockets. Of course if it had it wouldn't be priced at 2p now, and no one would have been able to buy at 1p or less a year ago. The reality is that AEX, like many other E&Ps doesn't have that sort of cash floating around, hence it's current pricing. It does however have a number of assets that are potentially worth useful amounts once the money is available to advance them. Hence the importance of funding, or farm out. What is quite clear is that commencement of paid production will make that easier, and that obtaining the wherewithal on reasonable terms to carry forward the company's objectives would be good news for shareholders, and seen as good news by the markets.

Peter

[edgar222] 21/9/2015 15:39

KevThey were always going to have to seek funding for the next drill programme, whenever the GSA was signed.Its just that it should be on better terms if there is a GSA

[warbaby43] 21/9/2015 14:17

What hovers above any drilling programme and the funding necessary to enable it, is the Licence requirement to drill a Ntorya appraisal well (due by 13th June 2015) together with 4 Ruvuma explo wells by December 2016 with an incremental penalty up to 15% of KN-1 for falling short of that obligation.

This is why the delay in funding is so concerning with its knock on delay in drilling the N-2 appraisal well. Up to the H1 Results they had repeatedly spoken of drilling N-2 in H2 2015 and, indeed, Ritson was still speaking thus even after the AEX RNS.

To fund and drill the 4 explo wells will require N-2 success and a subsequent farmout and given the sub glacial pace at which this industry conducts itself, I'd be interested to see the odds being offered by our resident super-optimists on the 4 explo well obligation being met.

[thecynical1] 21/9/2015 13:58

is "near-term" another way of saying "imminent"? LOL! ; )

[joestalin] 21/9/2015 13:57

KevJones: "it's odd that the realists are not having difficulty understanding my post"

Is that usually what happens?

[blackgold00] 21/9/2015 13:54

from HY report
"Aminex has operated in Tanzania for over 13 years now and continues to work closely with the Tanzanian authorities. The immediate priority for both parties remains the start of gas production from the Kiliwani North Field through the new regional pipeline to Dar es Salaam. The Tanzanian authorities have advised that production should start within Q3 2015, now that the main pipeline has been pressure tested. The completion of a Gas Sales Agreement ("GSA") is subject to finalising satisfactory payment protection guarantees and, following the recent start of production into the pipeline in the south of the country, we believe that a GSA should be signed in time to achieve the near-term production timetable advised by the Tanzania Petroleum Development Corporation ("TPDC")."

[thecynical1] 21/9/2015 13:48

Payment protection? Just another tale to try and explain away the delay..............yawn................I think Kev has been making some fairly interesting points on here.....strange that the points are not getting through????

Is the GSA imminent by the way? Even if they sign a GSA, how long will it take for them to generate revenue? Have they flow tested? How long with they have to wait for payment???? Remarkable that people think that a GSA is going to make a blind bit of difference given the fact that they are presumably going to have to raise funds again.......at least enough to get rid of the millstone they presently have around their necks........and even if they manage to raise funds, at what price? They are hardly up their with the AAA+ types which would allow access to finance at interesting rates given their history in relation to their existing funding arrangement. JMO.

[blackgold00] 21/9/2015 13:35

Kev "The GSA was first 'just about to be signed' in December 2013. If it was signed even a year later (December 2014) Aminex would be producing gas and hence a revenue stream by now. If Aminex had a revenue stream by now the worst case scenario would be having to create far less funding at a much better rate. If Aminex had a revenue stream by now the best case scenario would be having no funding issues at all."

kev, the GSA could never had been signed until the payment protection was in-place and of course more obvious, is that TPDC?Tanesco had to build the demand for the gas to be used. so we've all had to sit back and wait patiently, Wentworth included. (but the time is nigh). there, that's a new one for you, better than imminent : )

now look what you've done to the SP

[blackgold00] 21/9/2015 13:28

Mr P90, yes Norwell, this from their half yearly.

"Several well locations have been identified from the new mapping, including the two key Ntorya-2 and Ntorya-3 appraisal wells and the Likonde-2 and Namisange-1 exploration wells. Aminex has contracted North Sea Well Engineering Ltd. ("Norwell") to manage the Ntorya-2 and Ntorya-3 well planning, which is currently ongoing. Following completion of the LR Senergy report, Aminex has identified a target close to the existing Ntorya-1 discovery which was assessed as a potential side-track well to the Ntorya-1 well. After review with Norwell, the location will now be drilled as a vertical well from a different surface location so as to reduce drilling risk. Ntorya-2, located just west and up-dip of Ntorya-1, is expected to be spudded in Q1 2016. The newly-designated Ntorya-3 well will be drilled in the main channel. Both the Ntorya-2 and Ntorya-3 wells are expected to test additional exploration targets in addition to appraising the priority Cretaceous gas sand discovery. The Company continues to work on financing solutions for its drilling programme in Ruvuma and the new data and well planning are assisting this process."

[lfdkmp] 21/9/2015 13:27

"Like every single fundraising ever for a small company, be it a loan, a share dilution or whatever, it will result in the share price dropping."

Farm out?

[kevjones2] 21/9/2015 13:18

it's odd that the realists are not having difficulty understanding my post. Let me explain.

The GSA was first 'just about to be signed' in December 2013. If it was signed even a year later (December 2014) Aminex would be producing gas and hence a revenue stream by now. If Aminex had a revenue stream by now the worst case scenario would be having to create far less funding at a much better rate. If Aminex had a revenue stream by now the best case scenario would be having no funding issues at all.

Impvesta, you stated the blindingly obvious when you said: "A GSA doesn't provide cash until the gas starts flowing." Allow me to state the even more blindingly obvious: cash cannot be earned without a GSA.

My over all point is that having to seek funding is a bad thing, not a wonderful thing that will see the share price rise. Like every single fundraising ever for a small company, be it a loan, a share dilution or whatever, it will result in the share price dropping.

[mr p90] 21/9/2015 12:42

Well something positive - I hear that Aminex are paying Norwell to plan three wells H1 next year in the license area. And Norwell are not a charity....
IMHO. DYOR etc etc

[edgar222] 21/9/2015 11:32

I don't follow your logic on a number of fronts.

So I am reading it as expressing frustration at Tiptop!

Funding is everything. The GSA is part of that. A large part but not all of it. The GSA (as opposed to gas flowing) allows monetisation which is different to income from the GSA.

Not sure why that is hilarious.

[impvesta] 21/9/2015 11:11

"If we had gotten the GSA even 1 year after it was first guaranteed (December 2013)we wouldn't need funding."

Don't follow your logic there KevJones2. We need funding at least until we are generating our own income. A GSA doesn't provide cash until the gas starts flowing.

[warbaby43] 20/9/2015 14:24

Thanks for that link BB2 and on p27 is this with the gas plants and their capacities planned over the years to 2030 listed, with most of them scheduled over the next few years

4.2 Current Energy Projects under development