Aminex Share Discussion Threads

[haggismchaggis] 08/3/2017 19:19

* Tumbleweed *

tournesol8 Mar '17 - 19:08 - 62012 of 62012 1 0 (Filtered)

[haggismchaggis] 08/3/2017 18:57

So the pad for N3 is ready, the depth for N3 is being set based on N2 and the updated basin model.


"Ntorya-2 also encountered traces of oil in the gross reservoir interval and the Company is updating its basin model to determine the optimal drilling depths for Ntorya-3 and for future development wells."

[haggismchaggis] 08/3/2017 18:21

The well pad for N3 is already in place.18 October 2016.Aminex is pleased to announce that the civil work for the Ntorya-2 wellsite is now complete and the process of mobilising the Caroil 2 drilling rig and related equipment has begun from the Ntorya-1 well pad.5 December 2016.Additionally, the Company has now completed all necessary civil works for the subsequent Ntorya-3 wellsite.

[haggismchaggis] 08/3/2017 18:09

It's just the hassle of getting copies that I'm avoiding. Also, deeds are more tricky.

[blackgold00] 08/3/2017 17:55

i'v got all mine stuffed in my gun caninet, not firer proof, but i know you can get copies

[haggismchaggis] 08/3/2017 17:47

gerryjames, yes I have a wall safe, a decent fireproof one, it holds all my share certs, deeds, etc. Why pay a bank for safe custody, when all they'll do is put the stuff somewhere that's not very fire proof and charge for it?

[maverick247] 08/3/2017 16:56

Obmuj ive lost count of number of times aim stocks have dropped on positive news but its mainly bcos people buy prior to the expected positive news.Then on news day dropThats the time to rebuyShares then normally start edging up again especially when with the likes of aex more news to follow

[kryptonsnake] 08/3/2017 16:54

Oh well tomorrow's another day.

I am looking forward to results from the analysis of the well.

[blackgold00] 08/3/2017 16:29

take that back, A bottle of whisky will go up by 36p, : (

[blackgold00] 08/3/2017 16:16

anyway there's no tax increase on me whiskey, excellent : )

[blackgold00] 08/3/2017 16:02

from where we were 3 months ago to now, i think it all looks rather good going forward.

[shanig] 08/3/2017 15:47

So much hot money but reality and rationality will set in over time. Patience once again is required.

[obmuj] 08/3/2017 15:42

I have to say I just don't get it.
"ANY" result along the lines of today's announcement would, even if not allowed to rocket northwards, would surely have been a few percentage points up in the blue zone.
Typical AIM share doesn't cut it as this is not AIM but maybe it is just thought as being similar!
Absolutely fed up but I'm not selling yet but think I'll will sell out [few days before] next time I hear the words "update imminent or by such and such".
i.e. sell before the news. Good news seems always to be absolute cr*p for the share price in any oil shares.

[blackgold00] 08/3/2017 15:32

Aminex PLC Mtwara licence extension & Ntorya-2 Well Update



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.

The Mtwara Licence includes the Ntorya Appraisal Area where the Company has an existing discovery well, which tested at 20 mmcf per day with 139 bbls of associated condensate.

Within the licence, civil work for the Ntorya-2 appraisal well has commenced and it is expected that the well pad will be completed within 10 weeks.

The Company has a 75% working interest and is the operator of this well which is positioned approximately 1500m South West of the Ntorya-1 discovery well. The well will satisfy the Company's appraisal drilling obligation after which the Company intends to apply for a 25-year development licence subject to its success.

[tidy 2] 08/3/2017 15:14

They only had to prove Ntorya to be commercial to apply for the 25 yr dev license xxx

[greyingsurfer] 08/3/2017 15:14

JB on the presentation slides:

hxxp://www.proactiveinvestors.co.uk/companies/stocktube/7056/aminex-s-jay-bhattacherjee-discusses-ntorya-2-well-test-results-7056.html

[greyingsurfer] 08/3/2017 15:05

Given they haven't drilled the NT-3 sands I don't share your optimism of them holding the full area as an appraisal area.

I can understand your scepticism! And I'm not entirely sure how these things work, but they did make a case for, and get awarded an appraisal area. They have now clearly successfully appraised it, and proved there to be a commercial resource. I guess it will depend on what the appraisal licence terms are, but I can see a logic in them applying to whole area, which is what they've stated they will apply for a development licence for. We'll have to see.

Peter

[davidzz] 08/3/2017 14:58

Don't worry about the approval process in Tanzania.It's in the national self interest

[blackgold00] 08/3/2017 14:56

yes i agree Peter, the NT-2 well satisfied the drilling obligations for the appraisal area, so i think now with the NT-2 results they have every chance of success in applying for a production licence for the whole Ntorya Appraisal area which covers Notrya and a lot of Likonde, when negotiating with TPDC.

half year results



"The Ntorya-2 well is located approximately 1.5 km south-west and up-dip of Ntorya-1 and will be drilled to satisfy the appraisal drilling obligations for the Ntorya location area Once drilled, Aminex intends to apply for a 25-year development licence."

[ngms27] 08/3/2017 14:40

Peter,

Given they haven't drilled the NT-3 sands I don't share your optimism of them holding the full area as an appraisal area. I'm sure palms will have to be greased.

[greyingsurfer] 08/3/2017 14:30

Thanks for the NR interview link, BG.

One point I picked up was that the rig has been parked at the N-2 site, while they complete full analysis and planning of the next steps. He expected a couple of weeks or so for that. So it looks like N-3 will be delayed a little. The RNS said they were analysing to determine drill depth for N-3 so it's still looking likely it will be drilled and soon.

I'm very happy for them to take time optimising the way forward, but I'm also concerned about the licence requirements! I've no doubt that is being worked on, and the BoD will have a much better handle than we do on the likely outcome, so there's no point in trying to judge the best course of action from my armchair.

I'm sure the N-2 result will do no harm, and they will be applying for a production licence for the whole Ntorya Appraisal area - which of course includes N-3 and a lot more, so it's big chunk of acreage that should be secured, whatever the outcome for the rest of the Ruvuma licences

Peter