Aminex Share Discussion Threads

[blackgold00] 20/11/2015 07:26

ngms, wakey wakey, you can't stay asleep for ever

ngms27 12 Nov'15

"Wake me up when AEX have raised capital please."

[warbaby43] 20/11/2015 07:26

On the lunacy of acquisitions and consequent dilution, it should not be forgotten that they are going to need a ton of money to fund their share of drilling costs - 4 explo wells by Dec 2016 or they lose, by slice, up to 15% of what little is left of Kiliwani to TPDC.

There is also the question of more seismic - virtually none has been done over Namisange.

Any muted acquisition will require shareholder approval and who would be voting for it - it should not be forgotten that this pair were daft enough to get themselves not just involved in a really sink place like Moldova but entwined with a Mr Big of that country.

[skinwalker] 19/11/2015 23:17

You must be Smelgys Mums grandson? Its Smelgy I'm concerned about!

[skinwalker] 19/11/2015 21:21

I pity poor little Smelgy

[smelgys mum] 19/11/2015 21:12

Up ya bum!

[skinwalker] 19/11/2015 21:09

Le petit Aminex - c'est un DOG.
Je suis chien xx

[smelgys mum] 19/11/2015 20:43

Who gives a monkeys?

[blackgold00] 19/11/2015 20:37

Kev "AFTER that, an interview surfaced from earlier today in which he states that the GSA will now not be signed until the end of the year."

Kev this from todays IMS,

"The Gas Sales Agreement and subsequent first gas from Kiliwani North, news about which we are aware is keenly awaited by shareholders, is expected by end-2015"

plus I have heard him before in previous interviews say (GSA and gas production by the year end), but Kev surly we all recognise it never has been in JB powers to state when the GSA will actually be signed or when processing plant will be ready to take gas, what else can he say but pass on what those in authority tell him.

[bigsi2] 19/11/2015 18:40

GSA "few weeks away" hmmmm

[bigsi2] 19/11/2015 18:33

One year till commercial production ...p://bit.ly/1lwAd1D

[blackgold00] 19/11/2015 15:41

Kev, give it a rest

[kevjones2] 19/11/2015 15:35

I believe Bhatterjee in the above interview is now saying the GSA will be signed by the end of the year. At least I'll be able to refer to the 2 year wait for the oft guaranteed GSA rather than the 21 month or 23 month wait. In fairness to his outstanding professionalism and competence he only got it wrong about 17 times (so far).

[proactivest] 19/11/2015 14:54

Video interview with CEO Bhattacherjee



Jay Bhattacherjee, chief executive of Aminex (LON:AEX), says the company can move forward with its plans for a multi-well drill program at Ruvuma, following a joint venture deal in Tanzania with Bowleven.

Bowleven is buying a 25% stake in the Kiliwani North Development, while taking a 50% stake in the hugely prospective Ruvuma acreage.

Aminex will receive an upfront US$8.5mln, which helps shore up the balance sheet and is taking US$5mln-worth of Bowleven (LON:BLVN) shares, but has agreed not to sell them for nine months.

The firm also stands to recieve a US$500,000 bonus once the Ntorya-2 well is drilled and a US$4mln will be paid on achieving commercial production.

[greyingsurfer] 19/11/2015 14:50

That represents the equivalent of more than 5,000 barrels of oil.

Poor reporting. A boe may be equivalent in enrgy terms, but it's certainly not in cash terms. They'll be getting about $18 boe at the well head, a bit less than even today's depressed prices!

Still a good deal for BLVN, and for AEX too I'd say

Peter

[liquid millionaire] 19/11/2015 14:38

cyan 19 Nov'15 - 14:35 - 9973 of 9973 1 0




"The Edinburgh-based firm has signed a conditional heads of terms agreement with Aminex for a 50% stake in the Ruvuma PSA prospect and a 25% share in the Kiliwani North Development Licence.

Operator Aminex expects Kiliwani to initially produce up to 30 million standard cubic feet of gas per day.

That represents the equivalent of more than 5,000 barrels of oil.

Production at Kiliwani is expected to start soon"

That looks like for 25% an equivalent ; over 450,000 barrels per year to BLVN. What's to moan about? Looks great to me; actually fantastic.

[edgar222] 19/11/2015 14:15

Ritson on proactive interview

[...]



Have had to change address to post it. Take out the &s

[blackgold00] 19/11/2015 14:11

thanks edgar, I will go and investigate the new presentation.

[kevjones2] 19/11/2015 14:11

I copied and pasted an old post of mine. Peter, do you see the below as fantasy predictions by the bod? Or were they strung along by the Tanzanians? Either way it is gross incompetence which could have been dealt with after 2 or 3 inaccurate assurances from the Tanzanians (that's if we accept that Aex was indeed merely passing on information and not making it up). I'm not in the Bhatterjee is a liar group, I just believe he was way out of depth. These comments below are all copied and pasted from Aminex RNSs. I left out Bhatterjee's cringeworthy interviews.



{09/12/2013: Additionally a final draft of the Kiliwani North Gas Sales Agreement has been submitted to the Tanzanian Petroleum Development Corporation for approval, which is expected to be received shortly.

09/01/2014: The Gas Sales Agreement with the Tanzania Petroleum Development Corporation ("TPDC") for the Company's Kiliwani North Gas Field is largely completed and should be ready for signature shortly

19/05/2014: A Gas Sales Agreement ("GSA") with the Tanzania Petroleum Development Corporation ("TPDC") is largely negotiated, with no material issues remaining.

06/08/2014: The Company is currently in advanced discussions with
the Tanzanian authorities over the terms of a gas sales agreement.

28/08/2014: The Gas Sales Agreement has been agreed with the TPDC with no material issues remaining and is currently being vetted by the Government prior to execution

14/10/2014: Advanced negotiations for a gas sales agreement are expected to be satisfactorily concluded in the near future

14/11/2014: The Company is also pleased to report that a Gas Sales Agreement is largely complete for KNDL, with no further negotiations expected,

18/11/2014: A Gas Sales Agreement ("GSA") with the Tanzania Petroleum Development Corporation ("TPDC") is in final form

03/02/2015: The Board continues to look forward to signing of the GSA, which is largely complete

18/02/2015: The Company appreciates shareholders' continued patience regarding the finalisation of the long-anticipated GSA. This remains largely complete

01/04/2015 (April Fool's): Based on this indicative timetable from TPDC and the continuing progress with the Gas Sales Agreement, the Company expects commercial production will commence mid-year, with stabilised production rates achieved in the Q3 2015

14/04/2015: A Gas Sales Agreement has been negotiated and is passing through government approval stages

27/04/2015: Annual Report: I didn't bother checking but I'm sure the promise is there too

14/05/2015: Company expects to book its first categorised reserves in Tanzania upon signing of a Gas Sales Agreement and commencement of production

19/05/2015: On schedule to be a new East African producer - first gas from Kiliwani North expected mid 2015

19/05/2015: Secondly, the Company's main operational priority is to bring gas from the Kiliwani North Field on to production, which should be achieved with the now complete and pressure tested pipeline, the expected near-term completion of the gas processing plant infrastructure, and the signing of the Kiliwani North GSA.

04/06/2015 The first ever mention by Aminex of 'payment protection' and the first ever mention of 'uncertainty' regarding the date of the GSA: The GSA is complete except for the finalisation of the payment protection clauses and guarantees. Although there is uncertainty over the exact timing of a signed GSA, with first production expected mid-2015."

That's only as far as June 2015 - there's more. If this is acceptable business practice to you well then fine. By any stretch of even the most uber-optimistic, drug-crazed ramper's imagination, it is appallingly unprofessional. Bhatterjee has been led by the nose by the Tanzanians every step of the way. The first mention of uncertainty about the timing of the GSA was mentioned in June 2015 - a year and a half after the first RNS stating it was ready to be signed. There's more to come...........