Aminex Share Discussion Threads

[impvesta] 13/1/2016 08:13

Never in any doubt........!!! Not expecting any short term fireworks but I really think today is the turning point and we can head towards a brighter future.

[sleveen] 13/1/2016 08:13

The deal is at the same price as WRL @ $3.07.

[edgar222] 13/1/2016 08:10

Next Solo takes up their option for more KN1

BLVN deal goes through

Rig is booked

Drill programme for Ntorya2 starts

Balance sheet sorted with debt repaid

....in no particular order.

It is Ntorya 2 that will give us our reward

[blackgold00] 13/1/2016 08:02

I think we need to under stand this GSA is a depletion contract.

"The Kiliwani North GSA allows for the expected depletion of production from the field over time. In each contract year TPDC will be required to purchase, take delivery of or pay for a pre-determined volume of gas. In the event that TPDC elects not to take delivery of the pre-determined volume, it will pay for the equivalent of 85% of the agreed commercial rate of gas to be supplied, adjusted each year in accordance with the terms of the GSA. Gas from Kiliwani North will be supplied to the recently completed Songo Songo gas processing plant"

[warbaby43] 13/1/2016 07:59

Well, hurray, hurray, hurray!!!

And now let the new game begin:

"The start of commercial operations will be mutually agreed between the TPDC and the Company after testing and commissioning has been completed."

Can't wait for the video clip interview and the predictions and then the odds being laid on actual commercial production kicking off.

[edgar222] 13/1/2016 07:56

Same price as WRL when the Tanzanians built the pipeline to wellhead?

Not too shabby.

Stick that in yer pipe ngms and others.

[blackgold00] 13/1/2016 07:52

BunBooster, "initially set at 20 million standard cubic feet per day ("mmscfd")",

from Solo RNS

"The GSA is a depletion contract allowing for the expected production of reserves from the KN-1 well over time. In each contract year TPDC is required to purchase a quantity of gas and pay whether delivery is taken or not. The annual quantity represents 85% of the minimum daily quantity of gas to be supplied, initially set at 20 million standard cubic feet per day ("mmscfd"), and adjusted each year in accordance with the terms of the GSA."

[vike1] 13/1/2016 07:35

Let's get the hype machine going! Good revenue, no debt (soon) and massive near turn (free carry) exploration upside!

[bunbooster2] 13/1/2016 07:29

SOLO RNS says 20 mmfcd - so not the mooted 30 mmfcd.

[gerryjames] 13/1/2016 07:27

Good news too from Wentworth and their payments.

" Payments by the buyer, Tanzania Petroleum Development Corporation
("TPDC"), to the Joint Venture, for gas sales delivered to the new
pipeline have been consistently paid in accordance with the agreed
terms. Under the Gas Sales Agreement signed on 12 September 2014, the
sale price has been set at US$3.00 per million BTU (approximately
US$3.07 per thousand cubic feet, rising in line with the US CPI
industrial index) commencing in 2016."

[bunky3] 13/1/2016 07:27

wow. Great news

[bunbooster2] 13/1/2016 07:25

If only Bowie had lived to see this day. Why do you hate music, Jay?

[cervelo] 13/1/2016 07:23

Looks a very similar has to wentworths a long while ago. Why didn't they just photocopy that???

[duxy786] 13/1/2016 07:21

Finally, knew it would be too long after tgat rns.

[cervelo] 13/1/2016 07:18

Should now rapidly see completion of bowl even and solo deals so transformational for AEX is not to strong a statement I think.

[bigsi2] 13/1/2016 07:14

$3 good priceShould see 4p on hype

[cervelo] 13/1/2016 07:12

1.6p today for sure!!

[marnewton] 13/1/2016 07:10

Flippin' flip!¬)

M

[gerryjames] 13/1/2016 07:09

My word a GSA of sorts.

No volume mentioned just a predetermined amount, the stickey bit resolved now to see how much they need. It came quickly in the end.

[haggismchaggis] 13/1/2016 07:05

Up up.and away!!!!!!!!!!!!!!!!!!MILESTONE GAS SALES AGREEMENT SECUREDAminex set to start first production in AfricaAminex is pleased to report today that it has executed a fully-termed Gas Sales Agreement ("GSA") with the Tanzania Petroleum Development Corporation ("TPDC") for its Kiliwani North gas field, which moves the Company into its much anticipated production phase. HIGHLIGHTS:·     Milestone agreement moves the Company into producing phase;·     Take-or-pay depletion contract with gas revenues payable in US Dollars;·     Initial gas price of US$3.00 per mmbtu (approximately US$3.07 per mcf);·     Effective date of GSA 31 December 2015;·     Annual indexation of gas price from 1 January 2016; and·     Agreed payment security mechanismParticipants in the Kiliwani North Development Licence are: Ndovu Resources Ltd (Aminex) 55.575% (operator), RAK Gas LLC 23.75%, Bounty Oil & Gas NL 9.5%, Solo Oil plc 6.175% and TPDC 5%.The Kiliwani North GSA allows for the expected depletion of production from the field over time. In each contract year TPDC will be required to purchase, take delivery of or pay for a pre-determined volume of gas. In the event that TPDC elects not to take delivery of the pre-determined volume, it will pay for the equivalent of 85% of the agreed commercial rate of gas to be supplied, adjusted each year in accordance with the terms of the GSA. Gas from Kiliwani North will be supplied to the recently completed Songo Songo gas processing plant.Final well preparations, which are currently ongoing, are being completed prior to testing and commissioning of the new plant. During this phase production rates will be varied to optimise well life and establish commercial rates. During the testing and commissioning phase, the TPDC will be invoiced for gas produced at the end of each month and will be required to pay on invoice. The start of commercial operations will be mutually agreed between the TPDC and the Company after testing and commissioning has been completed. Each month, the TPDC will be required to pay one month's revenues in advance, secured with a letter of credit issued by the Tanzania Investment Bank. Monthly revenues will be calculated based on actual production, and adjustments will be made at the end of each month for any discrepancy between estimated and actual throughput.Gas will be sold at US$3.00 per mmbtu (approximately US$3.07 per mcf) and the price will be adjusted annually by applying an agreed United States Consumer Price Index. The gas price is not linked to any commodity price so is unaffected by current commodity market conditions. Gas revenues will be invoiced and payable in United States Dollars and the gas delivery point will be at the outlet flange of the Kiliwani North wellhead. By selling the gas at the wellhead, the joint venture partners will not be responsible for pipeline transportation and processing fees.Shareholders are reminded that Solo Oil plc retains an option to purchase a further 6.5% stake in the KNDL (before TPDC back-in) for a period of 30 days following signing of the GSA, according to the terms of an agreement previously advised to shareholders. As previously announced, Bowleven and Aminex have signed a Heads of Terms agreement for future cooperation in Tanzania, including Bowleven's participation in Kiliwani North, which remains subject to shareholder and all regulatory approvals.Aminex Chief Executive, Jay Bhattacherjee, commented: "Aminex has operated in Tanzania for over 13 years, always working closely with the Tanzanian authorities, and the Kiliwani North Gas Sales Agreement represents a major milestone as the Company's first commercial production in Tanzania. "Achieving this agreement has been a long time coming but the final version is comprehensive and will allow production to commence with clarity and security. We are grateful to shareholders for their support and patience. With a mix of production from Kiliwani North and upcoming appraisal and development drilling in the highly prospective Ruvuma basin, we consider Aminex to be well placed for further growth."

[theunluckyone] 13/1/2016 07:04

AT LAST SOME GOOD NEWS !!!!!

[warbaby43] 12/1/2016 07:58

Well, at least good ol' Tanzania seems determined to put its own people first: