Aminex Share Discussion Threads

[blackgold00] 07/8/2017 14:47

Bun, i think Drewky might have his last blog entry a bit wrong/miss leading, i'm pretty sure the Somanga Thermal Power Station is supplied by the protected gas from the Songo Songo gas field and processed through the old SS gas plant run by Orca and owned by Songas. and not from Aminex's KN well, which is processed at the new plant and then fed into the new national pipe-line. i'll keep an eye on it to see if he edit's it.

Aminex Unofficial

Monday, 7 August 2017
Somanga Fungu 320mw Gas Fired Power Plant out to tender

"The power plant operates on natural gas sources from Songo Songo Island which Aminex supplies via pipeline from Kiliwani North. After a strong week and a stream of good news over the weekend Aminex have already announced previously that they themselves have plans for further exploration in the area with planned seismic 3D to be put out to tender in the near future".

[blackgold00] 07/8/2017 13:59

"BETRAYING YOU" what on earth do you mean? anyway i won't be putting my name down, a bit out of my league i think

[bunbooster2] 07/8/2017 13:39

I don't like parties. Too many people acting like friends and then BETRAYING YOU!

[blackgold00] 07/8/2017 13:32

Bun, are you going to the 10p party?

[blackgold00] 07/8/2017 13:25

Bun, so the smaller stone should fall faster then, having less air resistance

[blackgold00] 07/8/2017 13:18

yes skin, and so does a feather fall at the same speed, that is when you're on the moon

[bunbooster2] 07/8/2017 13:18

That's a common misconception, skin. Air resistance.

[kryptonsnake] 07/8/2017 12:35

2.6% down, hardly dropping like a big stone Bun. I'd expect some retrace seeing as we managed a 40% rise last week.

[skinwalker] 07/8/2017 12:12

Interestingly, big stones fall no faster than small stones.

[bunbooster2] 07/8/2017 11:45

Dropping like a big stone. Any rumours doing the rounds?

[skinwalker] 07/8/2017 11:31

Well leafless, it seems the market is not as excited as you about the Uganda pipeline and the Somanga power plant!

[leafless] 07/8/2017 08:14

The new plant will be "near or at" the same location as an existing much smaller plant which is hooked up to Songo Songo! See info here

So this is also huge news for Aminex! It also may well explain why Aminex has just announced that we are looking for new drilling targets around Songo Songo...it all links up.

A big power station (bigger than Kinyerezi) is going to be built on our doorstep and construction was put out to tender only 7 weeks ago :-)

It get better and better!

Good night all. Exciting times ahead

[leafless] 07/8/2017 08:14

There has been a fair bit in the news recently about the Kinyerezi power plants and obviously this weekend the gas pipeline to Uganda has been announced. I’ve been wondering what big development is likely to hit the news next. I’ve done some digging to find out what other plans there are to increase gas fired power production and it looks like the Somanga Fungu power plant is the next in line after the Kinyerezi projects.

As a recap, Kinyerezi II plant will go live from this December. Initially 30MW will be switched on. Then an additional 30MW will be added to the national grid on a monthly basis until it reaches its 240MW capacity – so this will mean an increase in demand for gas every month from Dec 2017 through to July 2018. Back on 10th July I posted some calcs which show that this will result in an additional demand for gas of 31.36mmcfd. Also in 2018 we will see the upgrade to Kinyerezi I and I calculated that this should result in an additional demand of 23.71mmcfd.

Looking at Somanga Fungu, it will be a 320MW plant. Based upon the figures for Kinyerezi, this will result in additional demand for gas of approx. 42 mmcfd. This article from last year says that American firm K&M advisors had been appointed to manage “site selection, set technical and functional specifications, develop the financial model, prepare prequalification documents and the request for proposals”: hxxps://www.esi-africa.com/news/tanzania-tanesco-appoints-km-advisors/

The article was from July 2016 their assignment was to last 18 months – to approx. Jan 2018. You can see from this link, the project was put out to tender last month and it confirms the 320MW figure I used above: hxxp://www.tendersinfo.com/projects_details/39091870?desc=Somanga-Fungu-320mw-Gas-Fired-Power-Plant

So expect news soon regarding a deal for the construction of Somanga Fungu. Obviously Tanzania has a target of tripling power output by the year 2020. It would be feasible to build the power plant in 2 to 3 years, so it looks like Somanga Fungu is the next big power plant project and it is likely to be ready some time in 2020 – within about 18 months of Kinyerezi II being fully operational.

With the gas pipeline to Uganda likely to be finished in a similar timeframe, you can see that there are tangible plans that will see demand for increase very dramatically over the next 28 to 36 months.

[foolsandcows] 06/8/2017 21:28

No RNS Monday. Irish bank holiday.

[haggismchaggis] 06/8/2017 19:36

The oil pipeline already has its own WiKi page.

[haggismchaggis] 06/8/2017 19:07

10p is quite possible, it all comes down to sentiment for the stock, and the "I can't miss the boat on this stock" often leads to share prices that long term holders don't understand, because they base their valuations on assets, income, etc, but not on an overly active market sentiment based on the blue sky potential, such as a potential big oil find, or huge gas sales to Uganda.

[kryptonsnake] 06/8/2017 16:38

LSE are planning the 10p party again. Anyone think 10p is achievable this year? Personally I think it might take a successful N3 drill to see us at 10p or above...

[qackers] 06/8/2017 09:55

With thanks to Leaflessclover over on the LSE southeast site.

"Mr Museveni said Uganda has discovered a huge chunk of iron ore reserve, but could not mine the resource due to lack of coal or gas for smelting. Speaking at Chongoleani Village here during the ceremony to lay the foundation stone for the mega 1,445km crude-oil pipeline, Dr Magufuli assured his guest that Tanzania will use the same route to supply gas to Uganda".

"“Uganda needs natural gas to revive her industries and thus we will use the same route to have another pipeline to sell the energy to Uganda,” President Magufuli said during the colourful ceremony".

Link to article: hxxp://www.dailynews.co.tz/index.php/home-news/52183-dar-kampala-walk-the-talk

Check out Drewky's excellent 'unofficial' Aminex website for all of your Aminex information needs hxxps://aminexunofficial.blogspot.com/

[warbaby43] 06/8/2017 08:28

"Now let's see, where shall we invest our $30bn+ - Texas, Australia or Tanzania?"

[cervelo] 06/8/2017 08:00

Just woke from a dream in which AEX took a percentage of Horse Hill from SOLO in exchange for a free carry on NT3. What a sad thing to dream about on a lovely Sunday morning.

[haggismchaggis] 05/8/2017 13:51

That's why I already have him on filter, DUH!