Aminex Share Discussion Threads

[canigou2] 26/5/2017 21:29

"Perhaps where your anger should be directed is at yourself????"

You are quite right and it is Peter, it is. But even so I reserve a little bit of anger for AEX's stewardship. The drilling of N3 is essential on so many levels. It is not just about oil and gas exploration or basin models or prospectivity. It is about the credibility of AEX management. The arrival of Jay heralded a new beginning after the frustrations (& shareholder value destruction) of the past. AEX need's to act with purpose otherwise, quite frankly, they are uninvestable. And this would be disappointing, to say the least, considering the obvious potential in their licenses.

[dan_the_epic] 26/5/2017 21:21

Side topic. Where has bun gone?

[kryptonsnake] 26/5/2017 17:49

Don't worry, when we drill N3 we should get back to around 7p. I might consider selling at least half and keep the rest for the drill results. I'm not in a big rush either way.

[canigou2] 26/5/2017 17:44

What p?sses me off is that I looked at the share price at 7p and almost sold up. But something inside of me told me, no this is different (greed no doubt), it is just the start of something. When will I learn ... what a let down!

[dan_the_epic] 26/5/2017 15:37

Great minds think alike

[dunderheed] 26/5/2017 15:30

64275 lol was just thinking and typing the same!! I would say great minds but...

[dan_the_epic] 26/5/2017 15:20

Eerily quiet... where is Haggis

[dan_the_epic] 25/5/2017 12:32

Might have figured this one out actually; it makes sense if none have to be paid if the Kiliwani North deal is still considered part of the 2008 MPSA, under which there wasn't a production bonus.

I suspect, however, that Ntorya might fall under the 2013 MPSA which does have a $5m+ bonus upon "commencement of production from each development licence area". Note that the MPSA doesn't actually say that the production has to be commercial, which suggests it could theoretically apply to any test phase gas. It might not apply though, if Ruvuma is somehow still under the 2008 MPSA too? Not exactly sure how that works.

And yes Peter, TPDC has a 15% back-in at Ntorya.

[dunderheed] 25/5/2017 12:20

Somketimes there are (initial / first) production bonuses in PSC's however technically aren't we still in test / appraise phase and not commercial - ie this would 'kick-in' when the yearly prodcution profiles are formally approved and signed off?
Not saying this is the case - but wondering...

[greyingsurfer] 25/5/2017 12:07

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?

I've not heard of cash payments due to TPDC on first production. However, TPDC had a right to a 5% interest in KN-1 on first production, which is worth 7 figures at least, and unsurprisingly they took it up. No doubt the same will apply to the Ntorya PSA(s).

Peter

[skinwalker] 25/5/2017 12:01

Why bother to ask the question Haggis you silly old twit?
You've filtered everyone so you couldn't read any replies.

[edgar222] 25/5/2017 09:37

HaggisI am not happy to hold. I wish I could add!

[haggismchaggis] 25/5/2017 09:35

Who just bought 2m in 500k blocks? ARA?

[deanroberthunt] 25/5/2017 08:42

corrupt to the core

[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