Aminex Share Discussion Threads

[dan_the_epic] 25/5/2017 08:42

Peter,

One point I've brought up multiple times is around a production bonus that I believe is written into Tanzania's O&G legislation. I can't remember the exact amount that I read, but it was a 7 figure sum that is payable by the producing company on first production.

My question is, from the Tanzanians perspective, why doesn't that apply to Kiliwani? And if it does apply, why hasn't it been collected?

[deanroberthunt] 25/5/2017 08:41

violent and lawless.

[haggismchaggis] 25/5/2017 08:40

I'm still happy to hold here, as it won't be long to the basin model completion, new presentation on that, N3 drilling plans, N3 drilling, and lots of talk of the oil we are targeting.

Never expect too much from an AGM, as 95% of the time there won't be news, but at the same time it's 95% likely you'll be given pointers, hints, useful information etc and if you can read between the lines you'll have a fairly good idea of what's round the corner.

[deanroberthunt] 25/5/2017 08:40

Companies operating solely in the African continent never attain anywhere near true valuation due to the constant political and criminal risks

[dan_the_epic] 25/5/2017 08:38

I like that LT has now at least seen the poor forward plan here for what it is. Touche.

[greyingsurfer] 25/5/2017 08:37

As DtE says, the issue for AEX is not primarily concern about fraud affecting their operations, it's about the impact on the ministry and TPDC - which has the potential to slow things down, and make the environment more difficult. Hopefully that won't happen, but it's clearly a risk.

Peter

[last throw] 25/5/2017 08:35

slepy

Sure is but it's up nearly 5% this morning and, trust me, that's just for starters!

Awaiting positive news on Newfoundland, now probably next week plus what could become company-changing news on at least 2 other fronts!

Anyway, I still have a very large Aminex holding and am in profit but just feel that things have slowed down a tad after the predictably disappointing reaction to what has been perceived as a predictably disappointing AGM!

With so many people just last week expecting this to revisit 7p they too must be very disappointed but most trying to put a brave face on what was a pretty bland offering with innuendo, nods and winks and "reading between the lines" not cutting much ice with most here - an absolutely correct interpretation, by the way, in my opinion which is why I sold my first substantial amount of Aminex shares yesterday.

LT

[deanroberthunt] 25/5/2017 08:33

look at PFC

[haggismchaggis] 25/5/2017 08:32

LT, it's always possible that if someone wants to commit fraud they will find a way to do it.

One way could be to set a customers meter to show a lower gas reading than the amount of gas they have used, or put in a meter bypass pipe and split the gain with the customer. It's been done before with electric, even in the UK. Tanzania probably doesn't have a smart meter system yet.

[slepy] 25/5/2017 08:24

LT - NUOG? Really?
Isn't that another dead cat?

[dan_the_epic] 25/5/2017 08:10

I doubt it's so much that.

It's much more that the ministry itself if going to be under a heck of a lot more scrutiny and upheaval, and in any case, there are likely to be further delays for Aminex.

Moreover, this sort of thing really doesn't FDI into Tanzania....

[last throw] 25/5/2017 08:01

warbaby

Point well made but don't you think that with metered gas being paid for at the well-head that this kind of scam is unlikely to happen with our gas/oil?

LT

[warbaby43] 25/5/2017 07:59

And on it goes and will continue to grow and widen:

[skinwalker] 24/5/2017 20:49

LT - The 'idiot' - an LSE employee?
Presumably only LSE personnel have the ability to remove posts?
All the best with the NUOG investment - a good start today!

[last throw] 24/5/2017 18:35

Hi Skin

You look to be right on your point about my post being deleted and it also looks likes several replies have also been deleted - this has happened before and it turned out to be an idiot with a reputation for that sort of thing on lse.

I did sell 2 tranches of £10k, 1 from my Marketmaster account and 1 from my ISA and bought about 6 million NUOG shares which have risen by about 6% today BUT I have a hunch that tomorrow could be ballistic!!!

Toodle pip ....

LT

[skinwalker] 24/5/2017 17:42

It may not all be LSE posters' fault.
Earlier today Last Throw posted on LSE under the heading 'Sold a Few' that he'd sold two tranches of £10K shares. That post has been removed, presumably by LSE moderators?
It seems 'negative' headings and posts are not permitted!
Positive headings such as 'Topped Up', or 'Broker Upgrades' or 'Debt free' are allowed!!
Say hello to the thought police guys!
Interesting eh?
I am right on this aren't I LT?

[dan_the_epic] 24/5/2017 16:39

It's amazing how the non-investor (and not short either) of the thread points out the problems with Acacia and the Tanzanian government. Would've thought the likes of Haggis would've been on the ball here.

Oh wait it's bad news. Now I understand.

Those on LSE are completely oblivious to these events it would seem. Quite astounding.

[warbaby43] 24/5/2017 16:36

And the knock on:

[ngms27] 24/5/2017 13:40

Interesting so who's on the take at Acacia?

[shabbadabbadoo2] 24/5/2017 13:10

Surely if they were thinking about side tracking NT2 they would do it now? Rig on site, loads of available resource at cheap rates, etc, and they could afford it. That they are not even considering it tells you everything.

[dan_the_epic] 24/5/2017 12:50

Well it might not be surprising to you, but it is to me, for a company that is still relatively cash constrained.

Separately, Tanzanian govt taking issue with Acacia I see. Interesting to see what pans out there

[greyingsurfer] 24/5/2017 12:11

Clearly they will have learnt more about the reservoir from the N2 results - they said so and are still analysing. So pretty much inevitably that means they will as a result be able to find a better place to drill a new well. It would be no surprise if the advantages in terms of proving up resources and learning more about the reservoir were seen as outweighing the savings of side tracking over redrilling.

Peter

[dan_the_epic] 24/5/2017 11:47

Interesting, thx WB.

Suspect then that N2 wasn't in the optimal location anyway, or that the reservoir damage is slightly less localised than I had imagined. Hard to imagine the cost of the sidetrack exceeding the cost of a new drill, otherwise.