Aminex Share Discussion Threads

[skinwalker] 27/6/2016 17:01

SP doing well I see! Reflecting the mess that the xenophobic vote has left Britain in?

[skinwalker] 27/6/2016 16:39

NON, Stalin imbecile.
Je suis Charlie, je suis Paris et je suis Europe. Pas je suis Europeen, ou je suis d'Europe. Ce sont tres differents.

[warbaby43] 27/6/2016 16:33

"If true, that means Aminex could shortly find itself with a lot of excess gas without knowing who will buy it." And also, if true, going to be some very red (and angry?) faces around here.

It has, though, always been difficult to see a destination user for so large (in Tanzanian terms) a new supply of gas. However, given the originally indicated timescale for testing and commissioning, we should know the answer "imminently."

[gerryjames] 27/6/2016 15:45

Are Aminex and TPDC fooling one another on Kiliwani North?

"The British junior Aminex whose Ndovu Resources subsidiary operates the Kiliwani North gas license in Tanzania’s offshore, claims it will [...]"
(244 words) 5.2 EUR

So it wants Cash up-front to read it...Bit scammy old boy, no? I suppose you could subscribe for the1000euros a year option.

[dan_the_epic] 27/6/2016 15:07

Dear oh dear... Apparently from African Intelligence, lifte from LSE

Are Aminex and TPDC fooling one another on Kiliwani North?

The British junior Aminex whose Ndovu Resources subsidiary operates the Kiliwani North gas license in Tanzania’s offshore, claims it will be producing 30 million cu.ft./d (mmcfd) in coming weeks.

Last December it signed a gas sale agreement with Tanzania Petroleum Development Corp (TPDC) for $3.07 per thousand mmcfd and hopes to rake in between $10-15 million per year from the deal.

However, an in-house memo at TPDC that Africa Energy Intelligence has seen indicates TPDC will buy only 10 million mmcfd of gas from Kiliwani in 2017 and 20 million mmcfd per annum between 2018 and 2023. If true, that means Aminex could shortly find itself with a lot of excess gas without knowing who will buy it. Aminex touted its prospects in Tanzania in 2015 in the hope of attracting new partners to the block.

It got a bite from Solo Oil which acquired 10% of the block (AEI 767). The proceeds from the sale enabled Aminex to achieve better results in 2015 than in the previous year. It posted a loss of $3.78 million last year as opposed to $7.01 million in 2014.

Elsewhere, our sources say the British junior Surestream acquired 23% of Kiliwani North at the end of last year. The stake was originally owned by RAK Gas and Surestream traded part of one of its blocks in Malawi for it. In addition, Bounty Oil & Gas owns 9.5% of Kiliwani and TPDC 5%.




I have been consistently right here. My next target price is 0.7p by mid-August

[joestalin] 27/6/2016 14:55

Nope. Is the enormity of yours?

and I think that you will find that it is "Je suis d'Europe"

[skinwalker] 27/6/2016 14:27

The enormity of your fukc-up sinking in yet Stalin?
JE SUIS EUROPE

[blackgold00] 27/6/2016 14:14

SOLO interview

[...] ah cyber monster attack, you can get it over at LSE frolm solo board

[joestalin] 27/6/2016 13:53

We are also embarrassed that you are claiming to be British. Kindly stay there.

[blackgold00] 27/6/2016 12:16

stroof, RBS now down nearly 20%

[blackgold00] 27/6/2016 12:11

"The illustration of the re-drawn contours on p8 of the Sept 2014 Presentation shows substantial chunks of those now lying within Lindi"

yes warbaby, but the up-dip portion of Likondi (where it is hoped the gas had migrated too) lies south in Matara.



11 September 2014

Ruvuma OPERATIONAL UPDATE

"Aminex today announces that interpretation of the newly acquired seismic data has extended the potential of the Ntorya appraisal area, and management has further increased its resource estimate to 2.3 TCF (Pmean GIIP) by combining the Ntorya discovery with the adjacent Likonde prospect in its Ruvuma PSC in south-eastern Tanzania."

"The new interpretation has shown that an additional target exists for an appraisal well that would intersect the Ntorya gas and condensate sands encountered in Ntorya-1 and an extension of the Lower Tertiary sands that were found to have oil and gas shows in the earlier Likonde-1 well to the north. This additional target has further increased the recently announced resource potential from 1.9 to 2.3 Tcf (Pmean GIIP)".

"The Likonde-1 well penetrated 97 metres of net sand with an average porosity of 17% within a 316 metre gross Lower Tertiary sand sequence with hydrocarbon shows and a deeper Jurassic zone, containing 250 metres of stacked sandstones with extensive oil and gas shows. The deeper sandstones were not logged at the time, as the well was prematurely terminated in the deepest objective at 3,647 metres due to the influx of high pressure gas."

"The new seismic interpretation, using the recently acquired higher quality 2D seismic data, shows that the Likonde prospect comprises two distinct channel sands of which the southern channel extends over the mapped Ntorya Cretaceous gas sand. Ntorya-1, drilled in 2012, did not encounter this Likonde Tertiary sand channel, which lies just north of the well, but discovered a deeper Cretaceous gas sand that tested 20MMcfd with 139 barrels of associated condensate."

[warbaby43] 27/6/2016 11:53

Good and positive news but, as always, begging some big questions.

If, as seems at least possible, Lindi is to go then the primary impact must be on the attraction of AEX to any prospective farminee unless they can negotiate, in particular, to keep the entirety of Ntorya, Likonde and Namisange.

The illustration of the re-drawn contours on p8 of the Sept 2014 Presentation shows substantial chunks of those now lying within Lindi.

[blackgold00] 27/6/2016 10:36

pound hits its lowest level since 85, its a good job Aminex is being paid in $

[blackgold00] 27/6/2016 10:26

yes maybe, but they do not have to give up the main prospects Ntorya or the Namisange which allso is in the Matara licence area. so potentualy 2 TCF of gas

[ngms27] 27/6/2016 09:47

It's clear that Lindi ISN'T being extended. Thus it expires on 31st December 2016.

[blackgold00] 27/6/2016 09:22

ngms, you're the one that sounds desperate.

[stinkypeet] 27/6/2016 09:16

I suggest you read the RNS in full;

"With the support of the TPDC, the transfer of the Lindi drilling obligations to the Mtwara licence area is also being processed for Ministerial approval and signing."

Lindi is being absorbed into Mtwara. The question si what happens to the "exploration" license.....?

[ngms27] 27/6/2016 09:11

I'd say the news is a desperate act by a desperate BOD.
It's pretty clear they have had to give up Lindi which is a Kiswa goodbye to Sudi, goodbye to some of the Ntorya structure and goodbye to some of the Namisange structure and goodbye to some of Likonde.

[blackgold00] 27/6/2016 09:08

could be greyingsurfer, but the main prospects are in the Mtwara. as i see it now with the 18-month extension on the Argo loan, Aminex is now in a position to finance the N-2 well using the future funds from Kiliwani North. and then if N-2 is successful and an early production system is agreed new financing will become far easier to fund N-3 to drill the greater Ntorya's target of 1 tcf of gas

[greyingsurfer] 27/6/2016 08:52

Looks like good, if not unexpected news.

However, it would appear that they've decided to concentrate on the Mtwara licence, and I'd presume the Lindi licence will be relinquished at the end of the year.

Peter

[gerryjames] 27/6/2016 08:49

You have to conclude a softer loan to pay off the Swiss must not have been attainable. Still...upwards and onwards.

[blackgold00] 27/6/2016 08:38

yes interesting edgar, the lender has granted an 18 month extension on existing terms.

"its lender has granted an 18-month extension until 31(st) January 2018 to the repayment date of its corporate loan facility on existing terms."

[ngms27] 27/6/2016 08:38

Given the Interest Rate on the loan the fees are extortionate. Must already be upto $11/$12 million

[gerryjames] 27/6/2016 08:36

I was wondering that...the detail. You may he right though Edgar. George's speech appears to be working.

Are we still in auction.