Aminex Share Discussion Threads

[edgar222] 24/4/2017 12:05

Well said Haggis.That just about sums up why I bought more earlier.That and Ritson's hint that the flos rates at N2 will be much better in a producing well.

[haggismchaggis] 24/4/2017 11:56

We know we're onto a good thing with minimal risk of downside, we are fully covered with cash for the N3 well and probably some tight 3D seismic around it, AEX increasingly talking about the potential for oil (worth 10x what the gas would be worth), the small amount of debt will soon be paid off, if we can see it, so can he!

[kryptonsnake] 24/4/2017 11:43

Lowflow missed the boat. Wants shares cheaper!

[rivaldo] 24/4/2017 11:31

Positive comment from Shore Capital:

"Aminex Shares Rise on Ntorya Resource Upgrade

0820 GMT Aminex PLC shares trade 17% higher at 6p. The oil and gas producer has confirmed a significant resource upgrade for the Ntorya appraisal area, in Tanzania. Aminex now targets a three-fold increase to a May 2015 estimate. Aminex's partner Solo Oil PLC has also reported a significant increase in internally-calculated contingent resources and its shares are up 6% at 1p. "In our opinion, the flow rates achieved from the Ntorya-2 well were extremely satisfactory, with scope for meaningful improvement once drilling-induced formation damage is removed, and we are similarly impressed by this major resource upgrade," Shore Capital says."

[lowflow] 24/4/2017 11:14

The Ntorya-3 well seems to be delayed. Listen to the webcast with Neil Ritson ( in the end.

"They will take the decision on Nt-3 at the right time".

They will first apply for the production license, which could take considerable time to get in Tanzania.

I think next piece of news will be on the Kiliwani North field where they have pressure depletion issues. Which usually means additional capex spend in the best case and in the worst case production may go considerably below the current 15 mmscf/d.

[edgar222] 24/4/2017 10:47

GD

You are welcome


Malcy today:

More good news from AEX this morning as they report a ‘material increase’ in GIIP in Ntorya, Tanzania. The Pmean GIIP has tripled from 153 BCF to 466 BCF whilst the P90 number rises from 31 to 62 BCF and the P10 is now 1.13 TCF up from 332 BCF. This excludes adjacent acreage and potential liquids which might add a fair bit to the total recoverable amount but for now it is time to apply for a production permit and possibly drill Ntorya-3… Jay has been understandably difficult to pin down lately but I hope to catch him before long and preferably in front of a camera, in the meantime i’m very happy with the latest addition to the bucket list.

[greatfull dead] 24/4/2017 10:01

edgar,

Thank you for the link and yes a good listen.

ATB,
GD

[kryptonsnake] 24/4/2017 09:52

SOLO now down 1.1% on the day!

[edgar222] 24/4/2017 09:21

Ritson and worth a listen on size and flow rates getting better/being reversed in a production well

[blackgold00] 24/4/2017 09:20

yes Greatfull Dead agree, i don't know that i'v heard them use the term "working directly with the Tanzanian Government" but it seems that they have a rather good relationship

[greatfull dead] 24/4/2017 09:07

I am satisfied with the amount of gas stated in the RNS @ NT-2. Now for progress on other fronts I am sure is being very carefully worked on by the AEX BOD to give more share holder value in the short term.

This in the RNS is good enough for me.

"Aminex is currently in the process of applying for a 25-year development licence and is working directly with the Tanzanian Government to fast-track gas production for the benefit of the Company's shareholders and the Tanzanian national economy."

GLA,
GD

[blackgold00] 24/4/2017 09:04

have we had this little snippet yet, from Solo NR

"Solo believes that higher flow rates can be achieved at Ntorya-2 during future production once the drilling induced formation damage is removed."

[haggismchaggis] 24/4/2017 08:59

3D seismic has been mentioned by those in the know. Now we have this:

"The Company is currently updating its basin model in order to optimise the likelihood of intersecting the maximum stratigraphic reservoir sections and to target potentially liquid hydrocarbons bearing reservoirs in future wells, including Ntorya-3."

3D seismic would optimise the likelihood of intersecting the maximum stratigraphic reservoir sections, and help target potential oil, it would also mostly eradicate the seismic errors seen on all previous wells, so I maintain my view as posted yesterday, that AEX are discussing financing tight 3D seismic over N3 with the well partners.

[blackgold00] 24/4/2017 08:53

tournesol? i know you have something to say

[edgar222] 24/4/2017 08:49

Remember February? Up 10% on news and then trebled over the next weeks.

[kryptonsnake] 24/4/2017 08:48

Most of the hot money probably left before this mornings RNS. I'm sure you will get those looking for a quick buck, but I should imagine there will be a lot more holders with a longer term view now. Let the traders have their quick 20%. The bigger gains will come soon.

[blackgold00] 24/4/2017 08:46

ngms, yep maybe, regards NT-3 i'm not sure, but i think Aminex are holding back on drilling and are using its potentual outcome as a kind of leverage during the Ruvuma licence extensions negotiations with the TPDC, and we all know that the TPDC are desperate to discover new gas reserves to feed into their economy.

[ngms27] 24/4/2017 08:42

The hot money from todays RNS will soon see this is a fart with no follow through.

It needs a bit more maturation yet to give us satisfaction.

[kryptonsnake] 24/4/2017 08:38

Once basin model is complete, they will move in fast to drill N3.

'The Company is currently updating its basin model in order to optimise the likelihood of intersecting the maximum stratigraphic reservoir sections and to target potentially liquid hydrocarbons bearing reservoirs in future wells, including Ntorya-3'.

[kryptonsnake] 24/4/2017 08:36

Bull poo ngms, almost half a tcf in place gas, and the hotly anticipated N3 still to be drilled. N2 being fast tracked to production. I'm sure we'll here about N3 soon enough.

[greyingsurfer] 24/4/2017 08:34

Surely if they were planning to drill NT-3 in June they would have announced it.I agree there has been no statement that N-3 will drill in June, but It's probably fair to assume, unless we hear otherwise, that they'll start as some as they are happy with the remodelling. So June remains a possibility - though they must be getting close to running out of time for a June spud.Quite simply they aren't going to and have accepted the loss of 15% of KN-1. I've no doubt their negotiations will be including that issue. But it's clearly a possibility.Peter

[ngms27] 24/4/2017 08:31

blackgold, no I'm in but not as heavily as before NT-2. I don't believe anything from 5p is sustainable without confirmed near term plans for NT-3 or a take over bid.

NT-3 being drilled successfully is the current prize, I'm personally of the opinion that the rest of the Ruvuma acreage will never be drilled by AEX.