Aminex Share Discussion Threads

[dan_the_epic] 19/5/2017 12:50

Haggis I can answer that one, 0 barrels.

[slepy] 19/5/2017 12:44

Is N3 going ahead anytime soon

[haggismchaggis] 19/5/2017 12:39

O&G, how much oil is being targeted at N3?

[dan_the_epic] 19/5/2017 12:38

What's the status on KN1 ; why are TPDC not declaring commercial production there? So they don't have to then be bound to payment obligations?

[oilandgas1] 19/5/2017 12:34

any final questions for the AGM .. that could be asked? what do we need to know?

[kwizza] 19/5/2017 11:57

will they present the new basin model at agm

[canigou2] 19/5/2017 11:33

AEX need to regain some momentum here. The pause in operations is causing uncertainty. Maybe some hint of news at the AGM, or am I hoping for too much?

If anybody attending could summarise the key discussions today it would be extremely appreciated. Thanks in advance.

Canny.

[rich2006] 19/5/2017 08:57

I wouldn't be surprised to see AEX take 12.5% of Solo's interests for a free carry.
Aex could then farm it out at a later stage if required.

[ngms27] 19/5/2017 08:48

Haggis, you've never read a partnership agreement then in this Industry.

If AEX go it alone then AEX own anything discovered. SOLO cannot simply pay their normal share later.

Normally there is a punitive back in clause that will take account of anything discovered as well.

i.e. SOLO cannot let AEX take all the risk they claim a share for there proportion of costs.

This doesn't mean SOLO go bust NOR does it mean they lose the license, they would just lose any accumulation in NT-3.

However it looks to me that NT-3 is off the table as SOLO and AEX have been in perfect harmony for years looking after each other

[dan_the_epic] 19/5/2017 08:46

Technically even KN1 is flowing some condensate.... Agree with Peter on this

[dan_the_epic] 19/5/2017 08:46

Whatever way you look at it, Solo are a poor partner to have. Cash constrained, lack of focus, poor management (IMO).

I'm not even convinced they could monetise their portion of the asset well at this stage. It's still pretty early on.

[greyingsurfer] 19/5/2017 08:45

"Solo's original Tanzanian gas portfolio is maturing and we are reviewing our various options with regards to monetising a portion of the Ruvuma PSC during the development of the Ntorya gas condensate discovery..."I thought N2 had significantly firmed up on gas. However Ritson continues with the slip of the tongue "gas condensate discovery"Ntorya is a gas condensate discovery - that's not news, N1 reported condensate. Peter

[haggismchaggis] 19/5/2017 07:37

Edgar, my view was that AEX can easily afford the N3 drilling on its own, so the drilling is still going ahead. SOLO are a trusted partner and would reimburse AEX for its share of the costs once it has the money. Realistically, if SOLO subsequently cannot pay, the only scenario that would fit that, would mean they have gone into administration, in which case AEX would inherit the SOLO licence share.

[edgar222] 19/5/2017 07:32

Don't like the Solo RNS.

I think we are waiting for them.

They themselves say in the last paragraph that as the hydrocarbon market stabilises investment opportunities are becoming available at attractive prices. I think that may be what is going on for THEM (not AEX) in Ruvuma. Buyers/Farminees see they need the cash and there is a tight timescale (drilling desires of the operator AEX who have the cash). Hence Solo's negotiating position is weak. None of which reflects on the asset, only the ability to raise cash now.

My understanding is that as operator AEX decides what is happening and if Solo are in breach they might lose their share of the licence.

[lfdkmp] 19/5/2017 07:28

"Neil Ritson, Solo's Chairman commented:

"Solo's original Tanzanian gas portfolio is maturing and we are reviewing our various options with regards to monetising a portion of the Ruvuma PSC during the development of the Ntorya gas condensate discovery..."

I thought N2 had significantly firmed up on gas. However Ritson continues with the slip of the tongue "gas condensate discovery".

I'm beginning to suspect that there are very good reasons for the re-appraisal prior to N3.

This afternoon in Dublin could be very interesting.

[blackgold00] 19/5/2017 07:27

well (IF ALL) has agreed for Ntorya to be developed, then they must have also agreed a route to market.

looking forward to the presentation

[haggismchaggis] 19/5/2017 07:11

SOLO RNS today. They are calling an EGM to vote for raising cash for H1.On Ntorya they advise the following:Ruvuma PSC, Tanzania"Following the drilling and successful testing of the Ntorya-2 appraisal well in the onshore Ruvuma Petroleum Sharing Contract ("PSC") area in Tanzania the gas associated with the Ntorya appraisal area has been substantially increased to a most likely discovered gross gas in place of 466 bcf. Based on this, a 25-year development license is being sought from the Tanzanian authorities and Solo plans to seek a partner for its future involvement in the development so as to fund the Solo share of the development costs."

[bunbooster2] 19/5/2017 00:50

I welcome your posts, Dan (or Ben as I like to call you). I do think you are overly critical but it's great to air different viewpoints. The only thing I'd ask you to think about is that you were massively critical when the share price was a quarter of what it is now and it's obviously multiplied since then.

Let's face it though this is small cap high risk, high reward and as the market cap grows it becomes more likely that it will fall. All the overly rose tinted stuff and overly bearish stuff is just silly.

[dan_the_epic] 18/5/2017 20:30

No problem. I don't take any offence. My attitude can vary wildly based on what I read, and sometimes I'm sure I come across as brash and rude.

See my posts on PRSM as evidence of what I can be capable of when there is good discussion!

[last throw] 18/5/2017 09:30

Dan

I apologise for the last part of the second paragragh - upon cooler reflection I should not have written that.

LT

[last throw] 18/5/2017 08:55

Dan

Some time ago you were honest enough to explain how you came by your name and for once showed an iota of humility but alas you have reverted to the bully-boy that you so obviously are and probably have been from your very early days.

Insecure and incapable of giving anything positive - I pity your kids if you have any.

LT

[blackgold00] 18/5/2017 07:07

and you never stop taking. morning

[haggismchaggis] 17/5/2017 19:52

Seems I have a loony stalker following me and voting all my posts down. They must be REALLY thick to not understand that people take no notice of votes on posts, the votes are viewed by most people as a 'thank you for posting this' rather than a ratings game. I don't give a toss about down votes, I just take a very tiny bit of satisfaction from the up votes, as it shows I am doing something right and other people appreciate it.

[haggismchaggis] 17/5/2017 17:23

Blackgold, if as advised by posters on LSE BB that the drilling is already planned for July, I think SOLO will be squeezed by any farm in partners. I can't imagine NR as someone who would sell the family silver for buttons, so I think they will end up doing a placing in the next few weeks.