Aminex Share Discussion Threads

[warbaby43] 24/5/2017 11:44

"He indicated that N2 would not be revisited to improve flow, and that it would be financially better to drill another well than revisit."

Final sentence of para 1 of tauroctinus' AGM report at 64135

[blackgold00] 24/5/2017 11:34

Dan, this is where the agreements come in when negotiating the 25-year development licence. if TPDC want tcf's of gas proved up i.e. drilling, then the development plan has to be of a commercial benefit for Aminex.

[dan_the_epic] 24/5/2017 11:22

On that basis, why do any more drilling for gas onshore?

[ngms27] 24/5/2017 11:11

All I'm saying is don't spend another penny on NT-2 until it has a market. i.e. No Sidetrack etc

[blackgold00] 24/5/2017 11:00

ngms thanks

[dan_the_epic] 24/5/2017 10:57

Ngms you know me well enough by now. That caveat was very much implicit ;). N2 isn't exactly close to market, but don't need to add that to every post on the matter!

[ngms27] 24/5/2017 10:50

Err you need a market first. Chicken and Egg.

[dan_the_epic] 24/5/2017 10:39

Possibly blackgold, but I'd have thought the economics on sidetracking N2 and getting the higher flow rate far outweighed just producing at 17mmscfd and slowing cash flows.

[ngms27] 24/5/2017 10:37

The problem they had last time when they hit the Jurassic at Likonde-1 was the pressures encountered were beyond the safe operating parameters of the rig. There are two issues here:
1) Rating of the Blow Out Preventer
2) Capability of the rig to deal with differential pressures

Certainly a more powerful rig will deal with differential pressures better and may also accommodate a higher rated BOP.

[blackgold00] 24/5/2017 10:08

question, would a larger rig at NT-3 help prevent the need to load up the extra mud weight that did the damage at NT-2? or is the benefit of a larger rig, the extra power that enables you to drill deeper, i.e. through the Jurassic.

[blackgold00] 24/5/2017 10:02

Dan, "looks like they're going to have to spend another few mill on a sidetrack"

i believe the thinking is, that at 17mmcfd the NT-2 well is commercial and that any new money is better invested in a new well, NT-3 -4 -5 etc

[gowski] 24/5/2017 09:55

Few nice buys gone through :)

[greyingsurfer] 24/5/2017 09:10

Warbaby, rubbish! The well at 17mmcfd is clogged up with mud, the pressure that did the damage is capable of 3x to 4x that flow according to NR, therefore a lot higher if the mud wasn't in the way.

You, yourself, were saying a few days ago that AEX should be using a higher spec'd rig to avoid mud loading problems (something I doubt would actually have made much difference with N2), and now you are attacking WB for suggesting pretty much the same thing!

Peter

[haggismchaggis] 24/5/2017 09:06

Warbaby, rubbish! The well at 17mmcfd is clogged up with mud, the pressure that did the damage is capable of 3x to 4x that flow according to NR, therefore a lot higher if the mud wasn't in the way.

[daniel levi bmd] 24/5/2017 09:01

Come on watch this video.

You can make your witty comments.

All welcome.




Dan
x

[warbaby43] 24/5/2017 08:51

Never mind chasing the jurassic Will o' the Wisp of oil, the bigger equipment/crew concern must be to ensure that there is no N-3 hat trick of failure to manage pressure.

It wasn't just only 17mmcfd that did the share price damage, more reinforcement of the history of AEX's proclivity to disappoint rather than delight.

[foolsandcows] 24/5/2017 07:13

30 days look reasonable on the basis the Nt-3 site is ok.

[foolsandcows] 24/5/2017 07:07

I assume ibex will be moving the caroil rig.



May/June 2010

Rig Move Caroil Rig 6 Tanzania.�5533; Maurel and Prom/ Alpha Logistics.

Completed rig move of�� 8000 shipping tons ( 110 trailer loads) of rig and camp from Likonde in southern Tanzania to Kianyika a distance of 320kms. Hard top and offroad move. Successfully completed the rig move in 17 days with no lost time accident and no damage to client equipment.



March 2010

Rig Move Caroil Rig 14. Mafia Island. Tanzania. Maurel and Prom/Alpha Logistics

Directed and managed the construction of temporary jetty on Mafia island offshore Tanzania and directed and managed the transport of 10,000 shipping tons of rig and equipment and camp from 20 kms inshore Mafia island to offshore loaded on Beluga Projects vessel MV Beluga Fascination. Successfully completed in 8 days with no lost time accident or damage to client’s equipment.

[foolsandcows] 23/5/2017 19:42

hxxp://www.ibexoilex.com/projects/

Interesting timescales..

[foolsandcows] 23/5/2017 19:35

hxxp://www.caroil.fr/media/pdf/Specs_RIG2.pdf

[warbaby43] 23/5/2017 17:37

From LDLV's post 47558:

"Bhattacherjee is looking for a better land rig than was previously deployed and is in talks with several contractors for a unit able to work at 1000 to 1500 horsepower, but with a repair and maintenance profile that can easily be accommodated locally."

So is Caroil-2 an uprate from Caroil-6 and does it fit those parameters or have they taken the risk and made do with what was to hand?

[haggismchaggis] 23/5/2017 16:25

Edgar, it doesn't help when they live hand-to-mouth. At least AEX got the cash for N2 and N3 and will pay off their debt soon.I'm sure SOLO have enough backing to get past any funding requirements for N3, 3D seismic if required, and their HH project, but OMG the dilution could be nasty.