Aminex Share Discussion Threads

[blackgold00] 28/7/2017 09:52

Peter, "And clearly the potential exists for AEX to lose the Ruvuma explo licences - excluding Ntorya."

Aminex has met all its drilling obligation of the appraisal area so there-for if the Ntorya discovery is commercial are then entitled to apply for a development licence. So as i see it, we could loss parts of
the Ruvuma licence but not the appraisal area

[gerryjames] 28/7/2017 09:01

He's filtered you! Maybe someone explained the 1845 Famine to him. It'll be alright.

[skinwalker] 28/7/2017 08:40

Doubt it. Time will tell. Met my brother yet? He's gone all weird - not speaking to me. Hopefully OK!

[gerryjames] 28/7/2017 08:19

By Tanzanian standards and looking to stay that way. Will Tanzania swallow another intrepid explorer or can the the hand picked board change the course of modern history and end the cultural practice of theft by deception. Who knows.

[skinwalker] 28/7/2017 08:13

Lucky we're both high net worth individuals then eh?

[gerryjames] 28/7/2017 08:13

Good morning Skin.

[skinwalker] 28/7/2017 08:12

It will be bye-bye Aminex! Morning Gerry

[ngms27] 28/7/2017 08:02

So what happens when AEX's current obligations aren't met?

[skinwalker] 27/7/2017 22:24

Basin model? that old chestnut? Don't think anyone can remember what a basin model is, we've been waiting so long

[dbfromgb] 27/7/2017 19:55

If the new io model can demonstrate an immediate early commercial route to market, does that mean that the N2 discovery can be reclassified as proven/ commercial reserves (or whatever the correct term is!). And if so does that open up the field of potential partners for farmout or buyout? Methinks that the io work is as much a corporate as a commercial strategy....

[cperkin] 27/7/2017 18:24

At the solo AGM, it was suggested that the basin model would "include the liquids" discovered to date. That of course may only be condensates?

[canigou2] 27/7/2017 17:56

RE: Basin Model

Resource estimates are likely to have increased seeing as the NT2 pay zone exceeded the pre-drill estimates by some margin. And then there is the talk of the potential for oil, so it should be an interesting news release IMHO.

[haggismchaggis] 27/7/2017 17:28

Bring it on AEX, let's see what we've got!

[cperkin] 27/7/2017 12:47

I think you are probably right blackgold, the solo BOD mentioned at the AGM that they expect to release an RNS update in August and we were talking basin model at the time.

[blackgold00] 27/7/2017 12:29

i think the new Ruvuma basin model is complete and probably was at the time of the Appointment of io oil & gas for their perusal and input, and considering the statement in said RNS

"The Company is 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."

maybe then, there could be some news in that regard.

[cperkin] 27/7/2017 12:06

Greeting Aminex-ers those hiding and not :)

So jay is in Tanzania this week and meets the solo board next, could there be some long awaited news soon?

[edgar222] 27/7/2017 09:53

WarbabyFwiw my perception is only that Acacia have been caught red handed and have been punished.If that is true then its an example of a system cleaning itself up and working.

[greyingsurfer] 27/7/2017 08:34

I'm confident Aminex has always resisted temptation and operates within tight ethical guidelines expected by officals.Who knows? But I think one thing we can be sure of is that they haven't been smuggling gas out of the country in LNG tankers, or disguised at shipments of cigarette lighters!Clearly the level of the Acacia fine is nonsense and that much will never get paid, but if they have been effectively smuggling gold out of the country and avoiding payments to the government they are at least as guilty of responsibility for creating this situation as the politicians, and deserve to be hit very hard. Peter

[warbaby43] 27/7/2017 08:22

This sort of overseas comment, unfortunately, is unlikely to make even the slightest dent:



This though, along with the recent arrest of 51 Opposition members, gives a flavour of the prevailing political realities under Magufuli:

[gerryjames] 27/7/2017 08:17

Like buses.

[warbaby43] 27/7/2017 08:16

Perceptions matter as much and probably more than reality and the perceptions of Tanzania have plunged as a result of the Acacia shakedown. Not that they were particularly high to start with, the country consistently ranking only around 135th in the WB/WEF rankings as a place to do business. Place your bets now on where it will be in the next round of league tables.

Aminex and the other oilies will be affected by the legislation which specifically covers petroleum resources as well as minerals and it can be expected that the up to 15% of KN-1 penalty for Ruvuma non explo drill performance will now be exacted not least because the TPDC current participation is only 5%. It is also likely that free carry will be expected on the 15% participation by TPDC in any Ruvuma development.

Obviously not ideal, but not necessarily shattering with neither of those blows would being the end of the world and if it don't get worse than that then the case for Aminex has not been dealt a terminal blow although the market for farmouts or a sale of the company will have shrunk for some while to come at least.