Aminex Share Discussion Threads

[blackgold00] 27/11/2015 11:20

Dan, are you now beginning to get the feeling, that we are getting close to a signed GSA and the start up of KN production?

[blackgold00] 27/11/2015 10:48

Dan, "Thanks blackgold. So the expected production rate has been reduced back to 25mmscfd. Interesting".

Dan, I expect BUY are just being conservative using the lower end of JB estimation, anyway note words (initial and slated)

"initial production slated at 25mmcf/day. Government wants start up December 2015"

[dan_the_epic] 27/11/2015 10:04

Yawn. Play the ball and not the man.

[vike1] 27/11/2015 10:01

I suspect Dan the Epic is quietly accumulating. There are no AEX shares available to short, and why else would someone waste so much time on a board like this.

[dan_the_epic] 27/11/2015 09:53

Thanks blackgold. So the expected production rate has been reduced back to 25mmscfd. Interesting.

[blackgold00] 27/11/2015 07:35

bounty oil and gas presentation



"government wants start up December 2015"

[warbaby43] 27/11/2015 07:34

How to pay those pesky gas bills (Orca's best hope?)



"“Funds budgeted for that purpose should instead be used to settle debts owed to various contractors and suppliers"

[pj 1] 26/11/2015 18:47

I see Ritson is leading LGO to oblivion? SOLO must be well impressed

[blackgold00] 26/11/2015 16:39

thanks edgar222, yes can't be bad.

“We see significant unrisked potential beyond this, including circa 2tcf [trillion cubic feet] of prospective resources (recoverable) across four drillable targets.”

[edgar222] 26/11/2015 16:14

Aminex transformed by Bowleven deal, analyst says

12:52 26 Nov 2015

Shore Capital’s Craig Howie said the deal was excellent news and described it as “a transformational deal in a challenging market.”

Aminex transformed by Bowleven deal, analyst says

“Cash received up-front will substantially reduce corporate debt,” Howie said.


Bowleven’s (LON:BLVN) move into Tanzania has transformed the investment proposition of its new partner Aminex (LON:AEX), according to Shore Capital.

Craig Howie, Shore Capital analyst, described last week’s news that Bowleven would pay up to US$24mln for stakes in the Tanzania gas venture as “excellentR21; and said it was a “transformational deal in a challenging market.”

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

It then gets a US$10mln carry on any drilling on Ruvuma ‘enabling a multi-well programme’ on the block, which is already host to a discovery. Aminex will also get a US$500,000 bonus once the Ntorya-2 well is drilled and a US$4mln will be paid on achieving commercial production.

“Cash received up-front will substantially reduce corporate debt and Aminex will remain operator of all its Tanzanian assets,” he said in a note.

Howie highlighted that the deal implies a favourable valuation for the near production Kiliwani North project.

It also adds ‘comfort’; regarding the timeline for the anticipated start of production and gas sales, he added.

Importantly, Howie says, the deal will see drilling activity restart in the Ruvuma exploration and appraisal area with the backing of a strong partner. The spudding of the Ntorya-2 appraisal, within Ruvuma, is now expected to start early in the 2016 financial year, according to the analyst.

“Whilst we believe an excellent price has been achieved at Kiliwani North, deal metrics suggest that the Ruvuma transaction has been valued with reference to existing contingent resources,” he noted.

“We see significant unrisked potential beyond this, including circa 2tcf [trillion cubic feet] of prospective resources (recoverable) across four drillable targets.”

There is a trickle down benefit for Solo Oil (LON:SOLO), already a partner in both assets, which agreed to vend in a 12.5% stake to the transaction.

The carry and bonuses are worth just over US$3.6mln to Solo. “This is going to provide us with the funding for the appraisal programme at the Ntorya gas condensate discovery,” said Solo chairman Neil Ritson. “It is the right deal, at the right time and not complicated at all.”

Bowleven chief executive Kevin Hart told investors the Ruvuma acreage offered the same near-term potential of his company’s onshore Bomono gas assets – one of two projects it has in Cameroon.

He reckons there is an opportunity for a gas to power operation that would feed a power hungry developing Tanzania market.

Bowleven, which banked US$165mln from a farm-out deal in March, is one of those companies lucky enough to be cashed up as the sector headed into the downturn.

“We have distressed sellers out there having to drill wells where they have commitments,” Hart said in a recent interview with Proactive Investors.

“We can therefore jump into the race without having to run the first 23 miles of the marathon.”

[blackgold00] 26/11/2015 09:29

just to keep us occupied while we wait for some news, if you haven't seen this video, have a gander, I know they're pushing the gold story but I found it quite interesting and it does make you think.

(Rollercoaster Crash: Top 4 Reasons For Deflation Before Hyperinflation)

"Conclusive proof a market crash bigger than 1929 is coming"

"There are 4 unmistakable signals a financial crisis of epic proportions is headed straight toward us."

"And to walk you through each of them, bestselling author Mike Maloney has released a shocking new video."

[blackgold00] 25/11/2015 14:11

is that any better Bun?

[bunbooster2] 25/11/2015 12:18

blackgold - can you provide a summary? Many of the posters on this board are elderly and get confused when attempting to read paragraphs of dense text.

[blackgold00] 25/11/2015 10:48

Orca

SONGO SONGO DELIVERABILITY
"As at 30 September 2015, the Company had a field productive capacity of approximately 80 MMcfd, with the expansion of production volumes limited to 102 MMcfd by the available Songas infrastructure.

"Production wells SS-3 and SS-5 remained suspended during the quarter pending workovers. Well SS-4 continues to be monitored and may have to be suspended in the future.

"A workover on well SS-9 was successfully completed towards the end of the quarter and the well commenced production subsequent to quarter end at the rate of 34 MMcfd. The full production capacity of the well will be known after production tests of the well. In October 2015, the Company completed the workover on SS-5 well and preliminary tests indicate the well will flow in excess of 30 MMcfd.

"Based on the workover results to date, the deliverability of the field is now in excess of the existing Songas infrastructure."

[blackgold00] 25/11/2015 10:18

just released Orca 2015 Q3 INTERIM REPORT

So they have resumed talks with TPDC for incremental gas sales into the new NNGIP, but no agreement as of yet. So it would seem at this moment in time the only gas available for TPDC to feed the NEW Songo Songo processing plant is KN gas.



"The US$1.2 billion government sponsored Tanzania National Natural Gas Infrastructure Project (“NNGIP”) is substantially complete."

"Discussions between TPDC and the Company on commercial terms for future incremental gas sales resumed in October 2015.

"TPDC is currently working on a revised gas sales agreement with the Company to allow direct gas delivery to the NNGIP.

"Commercial terms remain a key condition to the Company’s commitment to expanded Songo Songo development beyond the existing Songas infrastructure and to supply gas to the NNGIP".

[gerryjames] 25/11/2015 09:42

I think that's the oil prospectiveness he's refering to when mentioning Tullow, he doesn't like the domestic gas supply economics, whatever they are, numbers thin on the ground. To be fair to the lad.

[nerdofsteel] 25/11/2015 09:41

when will the GSA be signed?

[bunbooster2] 25/11/2015 09:30

Tullow pulled out so there is no value is a weak argument. There has been over a billion spent on infrastructure in that time and there is now a quick path to monetisation. It's a very different picture.

We have to be careful about group think and confirmation bias... but come on it's such a weak argument.

[blackgold00] 25/11/2015 09:08

yes Peter agree, some are not interested in knowing if it doesn't correspond with their preconceived beliefs.
I did like this quote, shows the state of play out there. Mr Hart said: “We have screened a hell of a lot of deals and this is one for a variety of reasons, both technical and commercial, we like.”

[d1nga] 25/11/2015 09:06

one and the same

[greyingsurfer] 25/11/2015 09:03

It is.

There are several on TMF who seem to be little interested in understanding that the reasons TLW pulled out (no oil) are not particularly relevant to the current Ruvuma situation - a rapidly developing gas market and the infrastructure to support it, and to supply Ruvuma gas to it.

Peter

[blackgold00] 25/11/2015 08:32

(Bumper pay increase for Bowleven boss)



"The Cameroon stake sale left Bowleven sitting on a big cash pile at a time when oil and gas firms are grappling with the fall out from the crude price plunge.
Directors have said Bowleven has been inundated with calls from investment bankers trying to sell it oil and gas assets since the sale completed. Bowleven last week announced plans to buy stakes in two licences in Tanzania from Aminex in a deal worth up to $28m. However, Waseem Shakoor, who has a substantial shareholding in Bowleven, said the proposed deal appeared to be a rotten one for the company’s shareholders.
Mr Shakoor noted African exploration specialist Tullow Oil had withdrawn from one of the licences, in 2011. He suggested gas production from the other licence would have minimal value.
Mr Shakoor said the fact Bowleven’s share price had not increased after the deal was announced indicated investors were unconvinced about its merits.
Another private investor, Tim Kempster, said the Bowleven board had to provide a clear explanation of the expected costs and benefits. "

who is this Waseem Shakoor? the name looks familiar, its not the renowned WShak from the TMF is it?