Aminex Share Discussion Threads

[the grim reaper1] 19/11/2015 09:09

cashandcard

You called?

[bunbooster2] 19/11/2015 09:06

"Hands up if you saw that deal coming?"

Erm, I think you'll find that I was reporting on the rumours doing the rounds last week! Maybe listen a bit more.

[hawks11] 19/11/2015 09:06

A little more good news, which should be with us within months, might even get the share price to giddy heights of multiple pence.

[cashandcard] 19/11/2015 08:54

A pretty good deal given circumstances. A cash injection and then more to come down the line in deal payments. They still operate the license and will have an income ready asset.

It will help to keep the grim-reaper at bay for a couple of years I guess.

Well done.


Cash

[hawks11] 19/11/2015 08:52

"offers high quality near-term production and cashflow"
That was a bit of a very good shock.

[dunderheed] 19/11/2015 08:50

Wow - In this current market the mgt of aex have done brilliantly - imho - a really good deal - hopefully as this sinks in this will seriously revalue this company moving forwards - I expected more of a spike to be honest?!

[rich2006] 19/11/2015 08:43

Liquid millionaire
IMO this deal will remove most of the risk from Aminex.
Get the GSA signed and the only risk left is the normal drilling risks.
Jay previously said the Tanzania government were keen for early production from Ntorya.
This deal makes that a real possibility.

[liquid millionaire] 19/11/2015 08:32

A good post there on the BLVN thread for which many thanks rich2006

[liquid millionaire] 19/11/2015 08:31

AEX, SOLO & BLVN



rich2006 19 Nov'15 - 08:17 - 30187 of 30192 4 0

As a AEX holder we were skint with approx $10m debt, license commitments unlikely to be met without a deal like this and awaiting a GSA for the last 12 months plus.
A good deal for all parties IMO.
Tanzania need gas urgently to fill the new pipe and convert to electricity, new gas generation plants coming on stream and a hydro electric plant reducing output due to water shortages.
Good luck to all

[rich2006] 19/11/2015 08:30

Liquid millionare
And your point is ????

[pj 1] 19/11/2015 08:27

GJ. only to the Ladies ;-)

At the very least that guarantees the GSA now so I hope its onwards and upwards !

[liquid millionaire] 19/11/2015 08:21

rich2006 19 Nov'15 - 08:17 - 30187 of 30188 3 0

As a AEX holder we were skint with approx $10m debt, license commitments unlikely to be met without a deal like this and awaiting a GSA for the last 12 months plus.
A good deal for all parties IMO.
Tanzania need gas urgently to fill the new pipe and convert to electricity, new gas generation plants coming on stream and a hydro electric plant reducing output due to water shortages.
Good luck to all

[pillow] 19/11/2015 08:13

Spectacular news for all involved.

[blackgold00] 19/11/2015 08:07

quite a bit of info RE; the up-coming Ruvuma wells. IMS

"Aminex has contracted North Sea Well Engineering Ltd. ("Norwell") to manage the Ntorya-2 and Ntorya-3 well planning, which is currently ongoing as well as the planning for a workover of the Ntorya-1 well. In 2012 the Ntorya-1 discovery well in the Ruvuma PSA tested 20 MMcfd together with 139 barrels of associated condensate. Ntorya-1 is currently suspended awaiting workover to recomplete the well. Early summer the management of Aminex took the decision to allow for pressure build up to occur within the well to see if it would be suitable candidate for re-entry and eventual production. The results of the analysis indicate that the desired results were achieved and the well is indeed a viable re-entry candidate. Ntorya-2, located just west and up-dip of Ntorya-1, will target tertiary reservoirs and the same Cretaceous sandstones as found in the Ntorya-1 well. Ntorya-1 encountered 25-metres of gross pay of which 3.5 metres was tested while a further 16.5-metres was considered to be below the gas down to water contact. The primary objective for Ntorya-2 will be to test the same net 20-metre sand interval which is believed to be above the gas down to water contact at the proposed location. The estimated prospective resource for the appraisal well is 118 BCF Pmean gas in-place (management estimate) with a 60% chance of success. Following the Ntorya 1 recompletion and the Ntorya 2 well, the Ntorya-3 will be drilled in the main Cretaceous channel fairway. The Company is currently in the final phases of a tendering process to choose a drilling contractor and will update shareholders once that has been announced"

[gerryjames] 19/11/2015 08:05

Thanks PJ, that's really nice but expected from a gentleman such as yourself.

[rich2006] 19/11/2015 08:05

AEX holders might want to check out Bowlevens recent drilling activity and future drilling activity, also the farmout to lukoil to see the potential of the shares we hopefully will receive.
Testing currently underway on 2 drills with multiple zones identified.
2 drills due early/mid 2016, most likely to be around June.

[pj 1] 19/11/2015 08:04

Nice to see some good news for you Guys for a change........

[marnewton] 19/11/2015 08:01

But we are the operator!

M

[haideralifool] 19/11/2015 08:00

I was getting all happy reading the posts here and then read the RNS...the buyer is Bowleven. I have those too...frying pan and fire.

[marnewton] 19/11/2015 07:58

Morning Dave, is our boat finally in the offing?¬)


Thanks BigSi2...good luck to us all;¬)


Yep, good point rich;¬)


ATB

M

[gerryjames] 19/11/2015 07:55

Happy Bunny.

[warbaby43] 19/11/2015 07:54

blackgold@54612, read again bg, apparently from 30/11/15 we will have 92.5% of Nyuni following RAK's walk out.

Overall, a lot to absorb but the implication is that all the lengthy discussions with "a substantial financial group/a major financial institution" to obtain funding for the Ruvuma programme came to nowt. As this would have enabled them to retain that all so special 75% along with the retention of the major chunk of KN-1 revenue, the initial response is one of disappointment. However, bw64402@54609 sums it up well and I guess near desperate times means vulnerability.

Will next RNS be of departure of Tommy Mac and end of Gemini connection?