Aminex Share Discussion Threads

[foolsandcows] 11/2/2017 20:06

"At 2,596 metres drilling depth the well encountered a gross gas bearing reservoir unit of approximately 51 metres. Preliminary petrophysical analysis of the Logging While Drilling (LWD) logs indicates a porous and hydrocarbon bearing reservoir with a potential net pay of between 25 and 30 metres."

An anomaly in the secondary target tertiary sands would require a wireline logging programme being run surely before any announcement?

Can we rule out clipping the tertiary sands?

[canigou2] 11/2/2017 20:04

Much to look forward to here at NT2 and NT3. I just wish they were drilling Namisange too in this campaign! It does appear that AEX are operating in an extremely hydrocarbon rich province and the chance of oil up dip is mouthwatering. It does seem that if reservoir and seal is present their could be alot of oil (bearing in mind the many 10s of TCF gas found down dip offshore, and now it appears Ntorya may he upward of 1TCF onshore, if all goes to plan).

[foolsandcows] 11/2/2017 19:54

Ntorya-2 :
• Proposed in 2015: 2,947m TD
• Primary target: Cenomanian
sands on channel axis:
945 BCF Pmean
• 250 m gross reservoir interval
• Secondary target: L. Tertiary
sands (encountered at
Likonde-1):
426 BCF Pmean



I assume the secondary target tertiary sands were dead?

945 BCF was the best expectation.. extract from latest RNS "The result is well ahead of the Company's pre-drill expectations."

Speculation?

[tidy 2] 11/2/2017 18:19

Today 17:35 Price: 4.50TIPTOP 8,857 postsImportant pointsN2 was a 1.5km step out.......N3 is a 5km step out....likonde approx 17km away !! N1 hit 25m of payzone but only 3.5m could be perforated but still produced a whopping 20mcf/d and 140 boc/d, while N2 has hit between 30-50m with 30m or more possible to perf. N2 hit " significant gas influxes and higher than expected pressures. The result is well ahead of the Company's pre-drill expectations" .....which clearly means much better results than N1. We were expecting reserves of 200bcf but have hit a thicker Reservoir so reserves upgrades will be happening soon We are fully funded for N2 and N3 with Jay looking towards a loan facility to drive Ruvuma forward until a pipeline or route to market can be constructed, estimated within 12 months. Our discovery has matched SOU except our vertical well will ace there's without fear. Flow rates are what determines profit margins when in production. They hit 17mcf/d whereas we are looking at 40 plus mcf/d. SOU drilled a horizontal well to max their flow rate to 32 mcf.......imagine what we could produce with a horizontal well......the mind boggles. We get paid $3 per mcf for our Kiliwani gas but all the infrastructure is free and processing facilities so we only have minimal onshore overheads ! This is looking HUGE !!!Observation Strong BuyReply to postReport post

[blackgold00] 11/2/2017 17:02

yes foolsandcows, maybe, but its certainly going to give the market something to speculate about.

[foolsandcows] 11/2/2017 16:53

"Ntorya-2 also encountered traces of oil in the gross reservoir interval and the Company is now evaluating the implications of this positive development through an updated basin model."

I assume OIL migrated to NT-3 then...

[blackgold00] 11/2/2017 16:20

yes they are planing to re-complete NT-1 if NT-2 turns out a success.

from IMS - THIRD QUARTER 2015



"Aminex has contracted North Sea Well Engineering Ltd. ("Norwell") to manage the Ntorya-2 and Ntorya-3 well planning, which is currently ongoing as well as the planning for a workover of the Ntorya-1 well. In 2012 the Ntorya-1 discovery well in the Ruvuma PSA tested 20 MMcfd together with 139 barrels of associated condensate. Ntorya-1 is currently suspended awaiting workover to recomplete the well. Early summer the management of Aminex took the decision to allow for pressure build up to occur within the well to see if it would be suitable candidate for re-entry and eventual production. The results of the analysis indicate that the desired results were achieved and the well is indeed a viable re-entry candidate."

[foolsandcows] 11/2/2017 15:31

I would not be surprised if NT-1 had well recompletion with horizontal drilling toward NT-2.

[temmujin] 11/2/2017 14:01

solo funding? sounds like a troll to me

[tidy 2] 11/2/2017 13:59

Tiptv Aex solo http://www.share-talk.com/share-news/stock-watch-aminex-solo-feedback-plc-and-arbuthnot-banking-group-share-talk/

[haggismchaggis] 11/2/2017 13:25

Our world won't end as we'll have TCF's of gas as a consolation :-) AEX have, since L1, mumbled about oil prospects for Ruvuma, but the drilling plans suggest they are going after it in a logical way, following the Gussow's Law.You wouldn't go straight to Namisange first as it could be full of water, you just chase the oil up from L1 to each big trap until you either find oil or you reach the top. Oil at N2 might have stopped N3 as N3 then had a chance of holding the water.If they were just looking for gas they could have deepened L1 as they know there is high pressure gas at the bottom of the hole, or drilled another new well close to L1.

[warbaby43] 11/2/2017 13:06

"Go west, young man" said Horace Greeley, so on towards N-3 then, and if no black gold there then on to Namisange ho! Trouble is if we haven't reached our "Manifest Destiny" by then, our world ends there.

[haggismchaggis] 11/2/2017 11:04

According to Gussow's Law, if there's no oil at N2 it's moved up-dip. Bring on N3.

[haggismchaggis] 11/2/2017 10:56

I've been busy reading Gussow's Law of Differential Entrapment, Interesting stuff. It suggests to me that AEX are not only chasing gas here, but chasing the oil by going up-dip of L1 to N1, then up-dip of N1 to N2, and finally up-dip of N2 to N3, as this is the directiion the oil would migrate.https://www.cspg.org/documents/Conventions/Gussow/Gussow-Differential-Trapping-Hydrocarbons.pdf

[greatfull dead] 11/2/2017 10:32

Read all the posts posted yesterday evening and later into the night and saved the links and a few posts.

Thank you all who posted serious posts and the links. Very educational stuff for me.

Enjoy your day what ever your doing.

GD

[ngms27] 11/2/2017 08:41

Sorry yes the Jurassic at Likonde was where the well had the gas influx and had to be P&Aed

[temmujin] 11/2/2017 08:27

stockdale... sorry wrong thread was meant for ascent resources
Posts: 1,917
Off Topic
Opinion: No Opinion
Price: 2.225
View Thread (4)The Way This May Be GoingToday 07:17Having watched Colin for many months I believe I see where this is going. AST have PG10 up and running and just need the final connection to Croatia completed for production. PG10 provides adequate flow for the contract with INA in Croatia. So why would they need to get PG11a up and running so soon when he had stated that the income from PG10 would fund it?

Logically the extra gas that PG11a would provide and the fact that PG10 actually exceeds the INA contract requirement must mean that AST are getting another way to sell the extra gas and that Colin now knows about it. That other way would logically be the IPPC Permit allowing a gas plant to be built. News for that should fall early next week.

Raising this cash now would not be sensible without the necessity for doing so. Colin is a Chartered Accountant and would not be spending money unnecessarily. He has also said that this latest raising of cash would be for the benefit of all shareholders. How would a fall in the share price benefit shareholders? It can only mean this cash would enable the construction of the gas plant with Colin being in the full knowledge that the Permit is coming their way.

[edgar222] 11/2/2017 08:27

From Twitter (Cont'd)

I said

@jrkilvington @PaulBai123 Your BCFs are too conservative for N2 and N3 and don't convert using BoE. Use $3 per mmcf gas. Agreed no ramp.

Reply:

@EdgarTwo2 @PaulBai123 thanks@EdgarTwo2 I know..I was being conservative, my long term target is actually 55p

EDIT : You sorta have to go to twitter. If you look at my page @edgartwo2 you will see that he included a GIF of Jack Nicholson manically laughing after this. Its from One Flew Over the Cuckoo's Nest, I think.

Brinks - go easy ? We are all very friendly here. You make good points. A lot of unknowns and I am only trying to identify my target price. Proving to be quite difficult. We will know more by the end of this month. Perhaps a lot more. Flow rates, N3 drilling confirmation and whether that target size has increased in particular. Am holding. They aint gettin' mine yet !!

[brinks_matt] 11/2/2017 08:19

Thanks black gold, a lot to digest and research here.

[brinks_matt] 11/2/2017 07:29

Discuss: how much of it is recoverable and where's the cpr? How much Capex is required to get it out of the ground? How much of that is considered in the jammydodger tweet?

I'm new here so go easy!

[edgar222] 10/2/2017 23:30

From twitter

☿ Jammy Dodger ☿ ‏@jrkilvington 7h
Aminex - AEX.L heading for £0.16

I retweet. PJ1 replies.

@jrkilvington @EdgarTwo2 I'd slow down a lot with that blatant ramp. Although things much more positive than in years.

Reply:

@PaulBai123 @EdgarTwo2 NT1=70BCF+NT2=153BCF+NT3=945BCF=1,168BCF =193mboe x75% x $6.8pb x60%(CoS)/1.25(GBPUSD)=£475m/3,377m=14p+2p(|Killwani)


Discuss.

[tidy 2] 10/2/2017 23:07

High gas influx and oil shows N2Gas and condensate N1 L1 High gas influx and ?