Aminex Share Discussion Threads

[lfdkmp] 16/9/2016 07:11

On the subject of Grammar Schools, looks like Jay has decided to put his tuck shop money into more AEX shares.

[gerryjames] 16/9/2016 06:55

"So who's gonna offer me odds on no KN-1 commercial production before 2017 - at the earliest."

OK. I'll give you 1/100. How much do you want to win?

Spudding is good news, but feels a bit like Theresa May's Grammar School policy in the middle of a British withdrawl from Europe. Must be mustard working with the TPDC.

[edgar222] 15/9/2016 21:47

Jay interview

The big takeaways for me are

1. Spudding six to 8 weeks results Xmas
2. Ntorya 3 immediately after N2
3. The emphasis and focus on production led growth not drill-finance-drill-finance

Like it.

The future is bright in Aminex-land

hXXp://www.proactiveinvestors.co.uk/companies/stocktube/6000/aminex-plc-chief-looking-forward-to-imminent-production-6000.html

[lfdkmp] 15/9/2016 15:15

They might well be quite happy to use the gas, but will we (AEX) be satisfied with payment arrangements (in arrears) while the letter of credit is finalised.

btw - will the letter of credit be drawn on a Tanzanian bank. If so will it be deemed prudent to get that letter of credit confirmed by a correspondent bank, say in the UK?

EDIT

The more I reflect on this the less happy I get. During the long time in getting the GSA signed, we were advised that it was due to obtaining/finalising payment guarantees which we, AEX, were insisting upon. Now it appears we are still awaiting conclusion of the financial instruments which embody those payment guarantees - (without which, in my mind, we have no effective guarantee). So what exactly were the nature of the "guarantees" that we received at the time, which satisfied our pre GSA conditions?

[edgar222] 15/9/2016 14:36

I agree a delay is a delay but my point is that this is not evidence that they cant use the gas yet.

[skinwalker] 15/9/2016 09:36

The first AS2 patient on the road to recovery? The therapy might be working!

[greyingsurfer] 15/9/2016 09:34

"So who's gonna offer me odds on no KN-1 commercial production before 2017 - at the earliest." - Certainly the odds are shortening.

Possible, certainly, but lets be clear - commercial production in the sense most people mean - gas being produced and sold - is going on now. What hasn't yet happened, and was always expected to take some months to finalise, is that agreement on the take or pay quantities, which will be paid for in advance. Currently, production is being paid for in arrears - in common with most worldwide commercial production, and is taking place at levels which are probably somewhat below the where the final agreed levels will be.

Peter

[lfdkmp] 15/9/2016 08:57

".....and the Tanzania Petroleum Development Corporation ("TPDC") has advised that it is currently arranging the Letter of Credit required for commercial operations..."

Mmmm don't like the way that has been slipped in. Code for not yet, not even imminently?!

Edgar...an admin delay is a delay no matter what term you use to describe it.

I'm in danger of joining the KevJones and ngms sceptics club here. There always seems to be the potential for a (delaying) surprise with Aminex.

"So who's gonna offer me odds on no KN-1 commercial production before 2017 - at the earliest." - Certainly the odds are shortening.

[warbaby43] 15/9/2016 08:26

Who could resist?

[greyingsurfer] 15/9/2016 08:26

So who's gonna offer me odds on no KN-1 commercial production before 2017 - at the earliest.

No idea. Though I'd expect sooner.

However, the main point is that gas is being produced and paid for. Average apparently in excess of 15mmscfd over the recent period. Since that gas must be going somewhere it also tends to answer some of the concerns that have been raised about potential markets.

Peter

[warbaby43] 15/9/2016 08:21

So who's gonna offer me odds on no KN-1 commercial production before 2017 - at the earliest.

Meanwhile, the asset that dare not speak its name makes its usual non appearance.

[888icb] 15/9/2016 08:18

The company is in the best position it has been in for many years and we should see this reflected in the share price in the coming weeks and months.

[edgar222] 15/9/2016 07:47

Switch to commercial production under GSA terms happening as TPDC sort out a letter of credit. Admin delay only

[edgar222] 15/9/2016 07:47

Delete repeat post

[blackgold00] 15/9/2016 07:47

this will make the N-2 well more interesting if the Tertiary sand stone are encountered which is the same as found in the Likonde-1 well. i believe.

"Both the Ntorya-2 and Ntorya-3 wells have multi-zone potential and are expected to test additional exploration targets in addition to appraising the priority Cretaceous gas sand discovery."

[gerryjames] 15/9/2016 07:37

N-2 before Christmas and now a "going" concern. Although SOLO's inability to pay is mentioned as a delaying factor in risks.

" The failure of joint venture partners to pay their working interests may impact on Aminex's strategy."

Fairly standard but relevant. Unfortunately.

[888icb] 15/9/2016 07:31

RNS Half yearly report issued.

[gerryjames] 15/9/2016 06:56

How much do SOLO need? I've had a good run recently.

[ngms27] 15/9/2016 04:30

AEX should give Solo absolutely ZERO slack as it's not in the interests of AEX shareholders.

[vike1] 14/9/2016 19:22

AEX is going to give SOLO the slack they need. They've saved us before. Bounty farm-in would be a big boost of confidence as they know the asset well. Wouldn't be surprised to see AEX pick up the holding as I don't think the Zubair family are keen to share this asset with an unknown.

[ngms27] 14/9/2016 16:51

Note that the operator sets the drill schedule, any other parties have to pay up on that schedule OR lose ownership under standard contracts.

[edgar222] 14/9/2016 14:43

Solo results:

"....the GSA comes into full force on commercial gas production, which anticipated to be in the third or fourth quarter of 2016....."

[bunbooster2] 14/9/2016 12:44

Will be interesting to see if they get a farm out. Bounty have hinted at farming in. Would prefer to spread some risk with an Aminex farmout, even though it's no longer crucial, but it looks like SOLO are struggling to raise the finance for drills.