Aminex Share Discussion Threads

[blackgold00] 22/7/2016 13:08

i don't think Aminex has ever said, that a rig was being stored on the N-1 site, i think it came from NR, though Aminex never refuted it. i stand to be corrected on that.

though just had a thought, in the wording from prospectus they use the word rig in the plural, "wells will depend upon securing rigs" so maybe the rig that is on site is suitable to drill N-2 but a bigger rig is needed for N-3.

"The precise timing of the Ntorya-2 and Ntorya-3 wells will depend upon
securing rigs and associated equipment."

[warbaby43] 22/7/2016 12:50

Yeah blackgold00, back to "but can you believe a word they say" which is why I threw in the word "reportedly"

[blackgold00] 22/7/2016 12:29

warbaby, "especially when the rig is reportedly already in situ."

yes wababy interesting, makes you wonder if it is in situ, this from prospectus.

"The precise timing of the Ntorya-2 and Ntorya-3 wells will depend upon securing rigs and associated equipment."

[warbaby43] 22/7/2016 12:17

What struck me at the time the Prospectus was published, and continues to do so with increasing suspicion since, are those costs for what should be near enough back to back drills especially when the rig is reportedly already in situ.

$16.62 for AEX's 75%, so $22.15 in total, in what continues to be a depressed and buyers market. Certainly, several million more dollars that most on here were anticipating just a few months ago.

[vike1] 22/7/2016 12:17

I suspect that any SOLO farminee will want to wait for both confirmation of investor approval in early Aug + Energy Ministry final approval of drilling extensions. At that rate, mid-Aug at earliest.

With cash in hand, starting the drilling campaign around end of Sept seems reasonable.

[blackgold00] 22/7/2016 10:29

Vike, yes agree, and with the Ruvuma extension it looks like it is all coming together and falling into place, and regards what ngms says, yes, i expect Aminex has Solo's back covered. The next week or two should be revealing.

[vike1] 22/7/2016 09:36

Ritson has stated in the past that once a drilling timeline for Ruvuma is confirmed, farming out half their stake should be relatively easy. I suspect they've had a partner lined up for some time.

They've intimated that its easier now that they're no longer trying to package the farm-out together with Aminex, which makes it more feasible for smaller companies.

[ngms27] 22/7/2016 08:53

At the end of the day if Aminex go ahead without Solo providing funding then Solo will cede the acreage under standard PSC terms. You either play with the operator or lose your stake.

[warbaby43] 22/7/2016 08:29

87.5% Aminex? 87.5% of 1 tcf+ Aminex?

Nah, this is, after all, Aminex we're talking about!

[ngms27] 22/7/2016 08:00

Aminex will lend them the money

[blackgold00] 21/7/2016 19:14

yes with 5,836.83m shares in issue and a MC of £14.01m at the mo. NR doing overtime looking for a farm-in partner i expect, well we should hear soon enough.

[blackgold00] 21/7/2016 19:14

..........

[warbaby43] 21/7/2016 17:17

"i wonder how they will fund their share of the N-1 and N-2 drilling?"

Not the only one wondering blackgold00, given that such funding will equate to around 50% of their current market cap.

[blackgold00] 21/7/2016 14:34

Solo's interest in KN at the moment is 7.175% and will have to come up with $1.6 m in the coming weeks or a month or so, if they want to take their holding to 10% plus i wonder how they will fund their share of the N-1 and N-2 drilling?



-- A second investment of US$708,502 for a further 1.25% interest within 15 days of first US$ payment being received for gas from Kiliwani North-1 ("KN-1"). Solo's total interest will increase to 8.425%

-- A third investment for the balance of US$892,712 for an additional and final 1.575% interest within 15 days of the commercial operations date being declared, taking Solo's total and final interest to 10%

[blackgold00] 21/7/2016 14:25

Bun i just asked my son and he looked at me a bit strange and just shook his head, don't quite understand that, he's usually very helpful.

[blackgold00] 21/7/2016 14:08

no Bun i don't think so, i'll ask my son he's the expert, Millenium hmm that sounds fast, i seem to remember they had something called that on starwars and that was really fast.

[jacks13] 21/7/2016 14:07

No Bun, real techies build their own systems using Linux from Scratch. Here's a useful link (created by Vladimir Putin, I think) if you fancy a try.

[bunbooster2] 21/7/2016 13:21

blackgold - that's your problem then. Have you tried running Windows Millenium? Will sort that out in no time.

jacks - My wife has a close friend. Nice chap, big guy. From Ghana originally. Likes camping weekends. They both do. He's a techie type.

I mentioned that you were a technical expert using Ubuntu and he laughed and said something about Arch being for the real men. Made no sense to me. I tried Linux once but couldn't get Internet Explorer working on it.

[blackgold00] 21/7/2016 11:23

wow what's happened, i'm super-fast now and can go anywhere

[gerryjames] 21/7/2016 10:42

Can they accommodate Jacks?

[jacks13] 21/7/2016 10:39

I would have thought that being the tech savvy types that Aminex investors are that you would all by now be using Linux, like what I am. Ubuntu is my particular favourite, though Fedora is quite classy.