Aminex Share Discussion Threads

[skinwalker] 05/1/2016 11:01

Maybe there's life in this old dog yet?
Morning Triples - back from your world cruise?

[cervelo] 05/1/2016 10:40

Haven't they got till 1st feb to finalize the Bowleven deal?

[bunky3] 05/1/2016 10:38

Going to 1.8p. Then GSA announcement to push through 2 p.

[niceyman1] 05/1/2016 09:56

Bowleven deal rns or gsa rns first? I'll go for gsa in the next few days!

[niceyman1] 05/1/2016 09:51

Volume picked up the last couple of days but still relatively low.

[triples] 05/1/2016 09:47

Morning all.

[lfdkmp] 05/1/2016 09:26

Yes the fragrance has a certain.....imminence? :-)

[blackgold00] 05/1/2016 09:14

I can smell news in the air

[edgar222] 05/1/2016 08:16

East africa_ power crisis hits tanzania as power from gas delayed – allafrica. com


Posted by poiskspider on Jan - 3 - 2016

Comments Off on East africa_ power crisis hits tanzania as power from gas delayed – allafrica. com

By Allan Olingo

Tanzania is hoping to use its gas reserves to generate electricity and reduce its reliance on hydropower, a reliance that has seen the country experience its worst power crisis in the past few months.

The country has experienced incessant power shortages after its hydropower plants were shut down due to low water levels in the dams. The region’s second largest economy

depends on hydroelectricity generation to supply more than 35 per cent of its grid but the reducing water levels have seen this drop to below 20 per cent.

According to Felchesmi Mramba, managing director of the Tanzania Electric Supply Company (Tanesco), electricity generated from gas is reliable and will eventually reduce the cost of power in the country.

“This is a reliable form of power generation that is also less costly. Currently it costs US cents 40-45 for plants using oil to generate electricity, while we are seeing plants that use electricity generated from gas pay about US cents 9-10 per kilowatt hour,” said Mr Mramba.

Tanzania currently uses 870MW but it only generates 105MW, leaving the country reeling from an electricity crisis that its gas resources cannot bridge.

“The current power rationing in the country is due to a more than 80 per cent drop in hydropower generation. The highest capacity of hydropower generation is 560MW but currently we can only manage 105MW,” Tanesco said in a statement.

The country has been looking to utilise its vast natural gas resources. However, Tanesco data shows a drop in electricity generated from gas from 340MW to 260MW in the past six months. Tanzania has an installed capacity of 1,570MW, with more than a third or 560MW being hydropower.

“Pan Africa Company has finished the repairs of well numbers SS9 and SS5. We expect electricity generated from gas to increase by more than 270MW in the next two months,” Tanesco said.

“In due course, we will have reliable electricity, with hydro-power as the supplement,” said Mr Mramba.

Tanesco has been importing power from Kenya, Uganda and Zambia, but in the past four months both Uganda and Zambia have also experienced power generation challenges.

Data from the Kenya National Bureau of Statistics (KNBS) shows that as at September, Kenya had sold more than 1.6 million kWh of power to Tanzania. In 2014, the county imported an average of 50 million kWh of power, with the majority coming from Zambia.

According to KNBS, Tanzania stopped exporting power to Kenya in November last year and scaled up its imports.

The country’s power shortages have been compounded by Zambia’s own power issues as the water levels in Lake Kariba — the world’s largest man-made reservoir — have fallen drastically. This saw a 30 per cent drop in production from the facility, which generates 1,830 Megawatts of power at full capacity.

In September, Tanzania’s former president Jakaya Kikwete launched a $1.33 billion project to pipe natural gas to Dar es Salaam and help relieve chronic power shortages in the city.

Currently, only 40 per cent of Tanzanians are connected to electricity. The government plans to increase the number of people connected to the grid to more than 50 per cent by 2025.





hxxp://gaselectricity.in/east-africa_-power-crisis-hits-tanzania-as-power-from-gas-delayed-allafrica-com?utm_source=twitterfeed&utm_medium=twitter

[bo42] 04/1/2016 23:23

It's possible that the Tanzanian government are not as incompetent as many
seem to think. Delaying this as long as possible and waiting for the 'imminent' fire sale
would make sense.
I've often heard Aminex big-up their 'special' relationship with Tanzania
but have never seen much to substantiate that.

[vike1] 04/1/2016 16:19

strangely, the site won't let me post the link. Anyway, is on the Proactive Investors website, under Solo Oil or Neil Ritson

[vike1] 04/1/2016 16:17

Another interview with Ritson on Proactive Investors from today. TZ starts at the 6 min mark. The interesting part is where he says that following the AG approval, further meetings with authorities will be held "today and tomorrow" to get the agreement signed off.

[...]

[blackgold00] 04/1/2016 14:29

warbaby, I would say its been up for negotiation, and no doubt that's precisely what Aminex/Boleven and TPDC have been doing. I think we are going to get an announcement of sorts soon. Days / Weeks

from their 19/11/2015 (Interim Management Statement)

"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".

"While there are further exploration drilling commitments required by December 2016 in addition to the current drilling plans, Aminex is currently in discussions with the TPDC to facilitate and accelerate the development of Ntorya and meet the remaining obligations."

no doubt they have been asking TPDC for a longer time-frame for the remaining obligations to be met.

[warbaby43] 04/1/2016 13:53

From the farmout RNS:

"Aminex will remain the operator of all its assets in Tanzania following close of the transaction and is in discussions with Solo and Bowleven to accelerate the work programme at Ruvuma. The Company will announce an updated work programme once concluded."

Will the said "updated work programme" just be for N-2 and N-3 or will it also cover the explo wells due by end 2016? The related question is just how many wells is the partnership obligated to - is it just four or, more likely, five consisting of the long overdue appraisal well (N-2) plus the four explo wells, N-3, Likonde-2, Namisange and Sudi

[blackgold00] 04/1/2016 12:45

thanks 1bonanza.


NR "we now have the final approval from the Tanzanian attorney general"

and I like the way NR slips in regarding the planed Ntorya appraisal drilling "and with our new partner Bowleven, we are getting under way with that, and taking advantage of the current low rig rates". as though he's just letting the sceptics know that Bowleven are still very much on-board.

[m0rrisminor] 04/1/2016 12:39

Better close them shorts my little roasting tins NR has spoken and it's all good,
Regarding Gsa 🖕🏿😎

[1bonanza] 04/1/2016 12:25

Encouraging !

[gerryjames] 04/1/2016 08:43

This one Skin or Middle East religious sectarianism.

Circuit breaker kicks in after Shanghai falls 6.9%

Asian markets tumbled Monday on the first day of trading in 2016, with declines so steep in mainland China that authorities halted trading there for the rest of the day.

[skinwalker] 04/1/2016 08:28

another year - another crisis... :-(
what happened to our world?

[m0rrisminor] 03/1/2016 18:59

How are my little roasting tins doing not to long now , excuse the pun this will be so good Gla.

[c31161] 03/1/2016 09:12

Grey, solo has zero dept, and only around 4 employees part time, so they don't need much money, they new parter are taking up the cost of Tanzania

[greyingsurfer] 02/1/2016 19:45

Where's this going given Broker Man Daniel thinks Solo are bust due to the GSA delay?

Not great news for AEX in the short term, if it happens. But would have been a great deal worse if the BLVN deal hadn't been sorted. Provided the BLVN deal completes the loss of $3.5m, for KN-1 part 2, at this stage is not going to be a major issue, and it would leave AEX with an additional interest in KN-1, and revenue.

The interesting issue would be what would happen to Solo's interest in Ruvuma? It's a carried interest - by BLVN - for the immediate upcoming expenditure, so probably worth having for anyone who could lay claim to it, or possibly buy into it.

Peter