Aminex Share Discussion Threads

[greyingsurfer] 08/2/2018 09:38

Haggis

Read the presentation. Under "near term development objectives" it says:

High grade leads to drill ready targets

I.e. they are NOT drill ready. Also a drill will cost $5-8m or so. The rig is in Ruvuma and would take a while to mobilise. And there is no guarantee the well would be a success. Even if successful it would be unlikely to earn cash before the N-3 bill need paying. So no point in rushing.

Waiting and doing things properly isn't always exciting, but in the long run it makes sense. A few years ago AEX got itself into a real mess by spending on projects that didn't work out and going from a healthy cash position to debt. Far better they do this right.

Peter

[dunderheed] 08/2/2018 09:14

66488 no it doesn't!!!

[haggismchaggis] 08/2/2018 08:38

We don't know that? They have identified the target and calculated the size of it from existing seismic, that suggests it can be drilled without further work.

[blackgold00] 08/2/2018 08:28

I think more work deeds to be done on the prospect, haggis

[haggismchaggis] 08/2/2018 07:48

Drill Kiliwani South for a quick revenue boost. It's implied in the RNS that they are considering it. Caroil rig is sat around doing nothing.

[blackgold00] 07/2/2018 16:35

yes it does looks like it peter, i think someone ought explain it to that jolly lively crowd over at LSE, they seem to have overlooked it and are of the opinion that once flow rates are restored by compression at KN-1 the revenue will be paying for NT-3. I wish

[greyingsurfer] 07/2/2018 15:56

NR is sure never to give a conservative answer to a price sensitive development!I liked the way he said "not much difference to the resource figures for KN-1" and then moved quickly on to compression - avoiding mentioning that a new drill will be needed to access most of the resource!Peter

[warbaby43] 07/2/2018 14:44

While Tanzanian LNG seems marooned, Mozambique forges ahead with both Eni's Coral South FLNG project and Anardarko's mega LNG plant progressing:

[warbaby43] 07/2/2018 14:32

With a hat tip to Jay053 at iii, Ritson on CPR etc:



At c 3.05 N-3 spud around June/July - ho, ho,ho, tis the way he tells 'em!

[blackgold00] 07/2/2018 11:30

i did wonder where the base value was, i suppose this might be the answer.

Get Ready for Most Cryptocurrencies to Hit Zero, Goldman Says, much worse than tulip mania.



“The high correlation between the different cryptocurrencies worries me,” Strongin said. “Because of the lack of intrinsic value, the currencies that don’t survive will most likely trade to zero.”

the emperor's new clothes comes to mind

[fireplace22] 07/2/2018 10:21

In the current environment if you say that only women can be analysts, you'd be cheered to the rafters! Discrimination has to be discriminatory.

[bunbooster2] 07/2/2018 10:17

It's also discrimination. If you said only people over 6 foot can work here as an analyst there would be an uproar. Don't let the PC brigade on this board hear you say that though! (I've been burnt too many times - apparently I'm not allowed to say that most people in Africa are black!)

[blackgold00] 07/2/2018 10:09

bun, i think those short side analysts are not doing their job to well.

[blackgold00] 07/2/2018 10:04

no apparently not

LSE
AEX Hi to all the Aminex Gang6 Dec '17

"After a recent chat with Crusty it reminded me how much I miss this BB and all the members, so I thought it appropriate to right a few wrongs. I have recently been diagnosed with a long term illness which has forced me to make many changes in my life, one being less stress and more time for relaxing. I loved the decade I spent on this BB and invested in Aminex but things had to change, so I took the very difficult decision to stay away. This also forced me into the unenviable position of selling my darling stock at a mere 3p......from an average of circa 1.9p (Although I do still hold a very healthy chunk in my pension and will continue to do so). It has not been an easy path to take as I really enjoyed all the research and banter on this BB and have met some amazing people over the years, so thanks to everyone it's been a blast."

"There may hopefully be a time in the future when I can return, if I can get my symptoms under control but at the moment that's not on my mind. I did however feel I owed everyone an explanation and wanted to quash some of those conspiracy theories. I have not posted this for any sympathy or financial gain its just simply an explanation to my friends and I apologise its been so long in the making !"

"I still very much believe in the Aminex business, concept and management but have to admit that timescales have cost us.......which has been an ongoing problem.......so let's hope this can finally be improved upon.

Wishing you all a very special Xmas and hope I can return in the future to enjoy the finale with you all, as Aminex finally fulfills its potential and makes it into the big league."

Thanks again everyone

TIPTOP

[haggismchaggis] 07/2/2018 09:55

Is he not in tiptop condition?

[blackgold00] 07/2/2018 09:22

i'm short, yes i did wonder why the buy-side analysts wasn't invited, maybe they cost more. hows tiptop bun, still unwell?

[bunbooster2] 07/2/2018 09:19

Thing is we don't want shorters. That will move the price down. We need to get the buy side analysts on board. Seems a confusing strategy to be honest.

[blackgold00] 07/2/2018 08:54

i expect after the presentation Monday, the group of sell-side analysts will be giving a nod and a wink to their close clients.

[haggismchaggis] 07/2/2018 07:35

Surely N3 is ASAP, not H2?AEX have already put out tenders for the rig to drill N3, so the drill date is based only on the availability of the rig that wins the tender, therefore they don't know what that availability is yet, so they put H2 in the presentation as contingency, not as a known date.If the winning rig is available in Q1 then the well will be drilled in Q1.

[shabbadabbadoo2] 06/2/2018 19:31

Blackgold - I assume the production rate on KN-1 has many possibilities. Running it at production for maximum income could produce a lot more money in the short term but a lot less gas in the long term.

[blackgold00] 06/2/2018 17:51

kryptonsnake, it wouldn't surprise me if financing isn't sorted and i think things are going well.

Ntorya Pmean GIIP: increased to 1.87 TCF

Ntorya Development: io's report indicates, based on reasonable assumptions, that a gas development project at Ntorya could be viable with three wells, two of which have already been drilled and a third (Ntorya-3) is scheduled for drilling this year, producing into a raw-gas pipeline to the Madimba gas plant, approximately 33 km away

[blackgold00] 06/2/2018 16:43

I must admit i am a little confused, but am of the understanding KN-1 is terminal, RPS Estimates of Reserves for Kiliwani North Development as at 31st December 2017 2P = 1.06 Bscf

"Kiliwani North-1: The Kiliwani North structure has Pmean GIIP of 30.8 BCF according to RPS. Approximately 6.4 BCF has been produced from the Kiliwani North-1 well. RPS estimates 2P Reserves ascribed to the well, after compression is installed, to be 1.94 BCF (see Appendix for full range of Reserves)"

[kryptonsnake] 06/2/2018 16:42

Could we not loan money from Zubair? Just thinking of alternatives. I'm disappointed about the wait for N3, no definite date apart from H2 2018.

Maybe they should have sorted financing for N3 whilst things were going well.

[shabbadabbadoo2] 06/2/2018 16:34

Agree Haggis. That’s why I don’t see NT-3 being drilled any time soon. Year end spud at best. They will get KN-1 up to max income and run it to death. If KN-1 is terminal, then it will be dilution.