Aminex Share Discussion Threads

[ngms27] 08/2/2017 14:40

I don't see how the COS for NT-3 will be altered unless it's altered to 100% as NT-2 hit the NT-3 target sands rather than NT-2 updip.

NT-2 was deemed appraisal of existing drilled gas proven sands updip, they simply had to contain gas, the only doubt surely was reservoir properties.

[warbaby43] 08/2/2017 14:35

N-3 CoS was posited at 30% in last April's presentation, so will be interesting to see if that might get shunted upwards in the post N-2 analysis presentation that I think we can reasonably expect.

[blackgold00] 08/2/2017 14:09

that's 5 am UK time, the time I go to work

[haggismchaggis] 08/2/2017 14:06

They could also be leaking news from overnight work on N2 to UK friends at that time.

[haggismchaggis] 08/2/2017 14:05

If they were up and online at 8am to 8:30am they are in the right timezone to be buying at 11am to 11:30am UK time.

[haggismchaggis] 08/2/2017 14:04

ngms, try Google 'time in Tanzania', it is now 17:04, so it is 3 hours ahead.

[haggismchaggis] 08/2/2017 14:02

Impvesta, think about it. UK people working in Tanzania, using their UK trading accounts.

[ngms27] 08/2/2017 13:59

If they were 3 hours behind it might be just about plausible. The fact is they aren't so that theory is blown straight out of the water.

[impvesta] 08/2/2017 13:45

"The spike today started at 11:00. Is the buyer/buyers in a different timezone? Tanzania time is 3 hours ahead of UK time. Coincidence? I think not!!"

I didn't realise AEX was quoted on the Tanzanian stock exchange!!

[haggismchaggis] 08/2/2017 13:36

The spike yesterday started at 11:30. The spike today started at 11:00. Is the buyer/buyers in a different timezone? Tanzania time is 3 hours ahead of UK time. Coincidence? I think not!!

[chesty1] 08/2/2017 13:34

The rns monday was great but just feel traders could see a 10% move today and traded it, I was watching to do the same but was not clever or quick enough.

[blackgold00] 08/2/2017 13:30

but ngms, we do know something about it, it was in Mondays RNS. just a few johnny-come-lately's

[chesty1] 08/2/2017 13:19

Will fall from 3.7p imho.

[ngms27] 08/2/2017 13:17

It's getting close to the point where they will have to issue an RNS denying anyone knows anything or otherwise!

[haideralifool] 08/2/2017 12:50

^ I don't know where SirLurkalot is these days, but IIRC he used to remark on the ability to make money buy on the announcement of good news because an upward move could often be delayed.

[greyingsurfer] 08/2/2017 12:42

Madness started from buyers,some info leakedIndeed, there was a significant RNS on Monday, perhaps you missed it?Markets don't respond to news instantly.

[tmmalik] 08/2/2017 12:18

Madness started from buyers,some info leaked

[ngms27] 08/2/2017 12:06

They won't have started testing yet, probably setting casing though they might conceivably hit something whilst drilling deeper for the casing! But thats a long shot. More likely the news is just filtering though along with it's implications.

Regarding Likonde it was a 250m thick sediment that had oil and gas shows in the Jurassic. Yes this is planned to be tagged above the Cretaceous in NT-3 as a secondary target. Given this is updip from Likonde-1 it might be interesting, no harm in trying!

[canigou2] 08/2/2017 11:53

It is unfortunate, but the share price movement prior to the last RNS shows that news from the well-site is, how can i say, 'leaky'. Is there now a suggestion that the testing is going well? :)

[edgein] 08/2/2017 11:46

Blackgold,

Spot on chap, no time to do 3D seismic here, no real need either. They've little to lose. They need to get NT-3 down, prove it up or otherwise and get that developmental licence in. Caps on these jvps not showing the success of NT-2 yet so very little long term risk. I'm quite happy to have NT-3 after the flow test as the prospectivity has increased somewhat for anything that lies updip from NT-2. Similarly to NT-2, I'd describe NT-3 as low risk. To quote JB, every well to the cretaceous in Tanz has hit gas, NT-3 like NT-2 also cretaceous. Also there is some potential cross over of Likonde updip and NT-3 which makes that all the more interesting due to the extensive residual oil in Likonde. From memory as an AEX holder at that time it had hundreds of metres of oil and gas shows.

Regards,
Ed.

[blackgold00] 08/2/2017 11:24

plus we only have to the end of this year to drill commitment wells, what ever that might be agreed on now.



"Aminex PLC, an independent oil and gas production and development company premium-listed on theLondon Stock Exchange and primary-listed on the Irish Stock Exchange with operations in Tanzania, is pleased to announce that the Mtwara Licence, of the Ruvuma Production Sharing Agreement ('Ruvuma PSA'), which was due to expire in December 2016, has received formal Ministerial approval and signature for an extension of one year until December 2017. "

[vike1] 08/2/2017 11:12

JB has said he's keen to complete 3D seismics across the acreage, though NT2 would have had to have shown some pretty radical results to suspend NT3 plans now. Funding is there, rig is in the area, and NT3 site civil works already completed. AEX also suggested that ARA had an initial preference to drill NT3 first, but were subsequently convinced to stick with the NT2 plan. Depending on new data, perhaps now we can call NT3 a step-out from NT2? That would certainly impact our COS estimate.

Anyway, all fun theories. Looking forward to the details!

[canigou2] 08/2/2017 10:58

I hope whichever Aminex it is get good test results at NT-2! I also think it would be a mistake not to drill NT-3 while the rig/experts are mobilised (even if a last minute location adjustment is required). GLA.

[bunbooster2] 08/2/2017 08:51

Edgar - in the future X oil company will still be the same Aminex! THIS is what they have been working for all along. The name really doesn't mean much, it's the strategy that counts.