Aminex Share Discussion Threads

[blackgold00] 26/3/2018 10:43

"Because BG...as we know AEX have subbmitted a 25 year development plan on a drill when there's a need basis only"

no, they have applied for a 3 well EPS and then drill further wells as and when needed which seems reasonable and inline with tanzy oil/gas development policy, note (c). plus the Ntorya development proposal was planed in full consultation with the TPDC. note (1)

page 30

(ARTICLE 9: DISCOVERY, APPRAISAL AND DEVELOPMENT)


(j) Where, Contractor (a) pursuant to sub article (a) of this Article, has informed TPDC that, in its opinion the discovery is of present commercial interest, or (b) pursuant to sub article (h)(B) of this Article the Contractor agrees with the determination of the Technical Expert that the discovery is of present commercial interest, Contractor shall:

(i) Within one hundred and eighty (180) days after the declaration of commerciality
pursuant to sub-article (j), draw up a proposal for a Development Plan in
consultation with TPDC which shall accompany the application for a Development
Licence per the requirements of Section 35(1) of the Act
(ii)
(iii) be designed to ensure the recovery of the maximum quantity of Petroleum from the proposed Development Area which the economics of the Development shall justify
and it shall be designed in compliance with best international petroleum industry
practices;
(iv) contain detailed information on matters of economic, financial, geological, reserves, technical, operational, health, safety and environment in accordance to Section 36 of the Act, including:

(a) a description of development strategy and concept;

(b) an economic assessment of the different development methods, estimated
investments , operational costs and selection criteria;

(c) a plan covering the total development to the extent possible where the
development is proposed in two or more phases;

[gerryjames] 26/3/2018 10:06

That was the old licence. Because BG...as we know AEX have subbmitted a 25 year development plan on a drill when there's a need basis only.

They can't indefinitely raise cash and as we know any possible route to market is many uncertain years away. So had little choice. Fair play for taking a stance.

This latest development IN MY OPINION says try harded Aminex.

But the main issue is the Political climate is different.

I'm staying out until that licence is resolved. Or looks like it might.

[blackgold00] 26/3/2018 09:32

"What? You want us to reapply for the Ntorya acreage."

why would tpdc say that when the NT-2 well satisfied all the drilling/work commitments for the (Notrya Appraisal Area) license ?

from half year results


"Ntorya-2 completes the appraisal drilling obligations for the Ntorya location area".

[gerryjames] 26/3/2018 09:23

Off course there are talks Peter.

What? You want us to reapply for the Ntorya acreage.

Yes

Ok but you know we have tapped and tapped the market for your exploration. And 15m to find for the summer. Would it be Ok just to drill a gas well when we can monitise it.

Lol

Ok, we'll tell our largest shareholder we could be getting the elbow.

Yes you do that. And bad luck about KN-1 lads. We know you are better than that.

[dunderheed] 26/3/2018 09:13

Greying ok but I certainly couldn't see evidence of a false mkt existing but let's just wait and see!
Best of luck all!

[greyingsurfer] 26/3/2018 09:08

And if they hadn't and there had been a spike there would have been complaints about false markets.Gerry's complaining that mgmt don't give him enough detail. You're now saying it's too much!

[dunderheed] 26/3/2018 09:08

Gerry TPDC don't care about a financing deal as long as it gets their assets to the market on a timeline and in an efficient manner as possible that suits them?
They would be concerned about that regardless of deals going on in the background anyway?
They obviously would be interested in change of operator but surely 'anyone' would be better than the current operator andvtgree be welcomed in?
All imho of course?

[dunderheed] 26/3/2018 08:54

Why did they have to issue the rns greying?
Unless they are sufficiently advanced to get things finalised or hot signed there was no need at all to tell the market this?
A 'cynic' may say it was to distract 'people' from commenting on the weak share price and one may infer from that (due to the supposedly strong assets) the weak management as well?
All imho of course.

[bunbooster2] 25/3/2018 12:36

Comment removed.

[dunderheed] 25/3/2018 11:19

Ffs bun don't be ridiculous.
The person who was making such accusations has now blocked/filtered me. He was saying gerry had accused me of being sueyou as well I think?!
I believe gerry has me on filter anyway (as he's jealous of my IQ) but if not I'd like to ask gerry have you ever accused me before of being a multi avatar. I can't remember that?
Bun any rig company that is going to discuss any commercial terms with a member of public regarding a possible rig contract in an African country somewhere, is as mad as the person who claims to have done this!?
Please do not include me in anything at all related to such a stupid scenario lol!
Also Bunny any 'respect' I had for you went right out of the window when other posters showed evidence which implies you were also tip top I am afraid!!
Best of luck all!

[bunbooster2] 25/3/2018 10:56

If it comes down to arbitration you can count on me to back you up, Dunderhead. Always seen a bit of myself in you. By the way, I actually had a similar situation to your own around contacting the company about a rig. Great minds and all that.

[dunderheed] 25/3/2018 10:31

Bb2 ffs don't post at the same time as me please and after quite a gap since your last post!!
I have just been accused of being you and hence vicariously tip top!!
There are genuinely some real sad cases over there lol!!

[bunbooster2] 25/3/2018 10:25

Dunderheed - please don't mention lse on here. It just encourages traffic and feeds the wrong type of conversations around Aminex.

[dunderheed] 25/3/2018 09:44

Edgar I think you'll find more people aligned with your pov over on lse! I've given up trying to set a balance over there. Sounds like you've got (minimum) high single digit millions in this so best of luck and I sincerely hope your valuation and theories come to fruition!

[edgar222] 25/3/2018 09:21

Slepy

Farmout to Solo of KN1.

Increase of GIIP at Ntorya to 2TCF.

Major Oil Co on board and 30% shareholder.

Solvency.

Share price increase of x7-8 from low to high (I bought millions at 0.9p) or x3-4 from my average of in the 2s.

Future includes funded oil drill, EPS, cash flow from 3 producing Ntorya wells (at least) with the market needing the gas by 2019.

Even on your case "other than one successful drill and Zubair on board" those are massive news.

For the reasons given above the share price and market cap have reacted accordingly. It is not management's fault if we don't make the right investment decisions!

[slepy] 25/3/2018 09:14

Edgar you say they came on board when Aex was down. Other than having one successful drill and Zubair as a shareholder I don’t see what’s changed. We have more shares and almost zero production. share price has been at the same level for a long time and all we’ve seen were never reached time frames and rubbish communication same as at BH time.

[dunderheed] 24/3/2018 14:13

Edgar r u the chap who recently referred to zub as a 'major' over on LSE?
Because wtgr they are far far away from that?!
However again you are missing my point, which was there was no need at all acquire canyon!!
They simply should have recruited the personnel required to run the business successfully at that stage, rather then get involved with canyon and the lower quartile mgt associated with this! I'd better chosen mgt would have aex in a much better position than they are today!
Either way tired on this subject so I'm going to let this sleeping dog lie!!
Once again all of the above all imho!!

[edgar222] 24/3/2018 13:59

DunderheedReally could not disagree more.When this team came in Aminex were down and out.But I agree we can disagree without falling out!Cheers

[dunderheed] 24/3/2018 13:03

Edgar you really don't need to buy shell bp for that.
What you need is an exec team that is experienced enough to recruit the right staff in the specific area of expertise at that stage of project required.
Examples are sqz, trin, iog, FAR etc. EDIT (old) bvln very much NOT in that group lol!!
I certainly do not think the team up until a few months ago (I believe there has been further recruitment recently?) was 'right fit'.
I believe project (non!) delivery to date fully justifies my comments above however, that is my opinion only and you are totally free in yours!
What started this conversation was that I felt there were many many better experienced individuals in the market to have helped aex exec team take it to next stage.
What did aex exec team do? They bought canyon which as far as I could see brought with it no (material) tangible assets? I am fed up hearing that actually what we were buying was a skilled mgt team and that this team have skin in the game. What a ridiculous price to pay!!
Again all imho and dyor!!

[edgar222] 24/3/2018 11:21

Dunderheed

When you say

"I can't see end to end exploration through to FID development in sub Saharan Africa experience anywhere?!!"

I suspect you are right. But you could always buy shares in BP, Shell etc for that sort of level of management.

That is not a fair comparison. The issue is are the management team sufficiently savvy to buy in the experience they need and learn on the job. That, after all, is where "experience" comes from. The evidence to date (for me) is that they are and are doing that.

[dunderheed] 24/3/2018 10:50

Bg I agree mate but I'd much prefer to have 'in house experience' of working with such 'engineering consultancies'.
If you do not have thus potentially you can over pay massively on such bought in services.
2 things immediately spring to.mind? They may be intentionally profiting from aex and also I have worked for companies where the fantastic team of cost engineers either helped to 'improve' processes of said bought in services and also managed the contract effectively so as to ensure that business efficiencies are maximised within the service delivery.
These contracts can potentially be very very complicated and you need very very specific experience to manage them effectively.
An example that springs to mind 'maybe' Total and petrofac laggan tormore development where from a distant third party perspective it 'looks like' Total gave petrofac enough rope to hang themselves?!
Once again all imho and dyor!!

[blackgold00] 24/3/2018 10:24

"but they simply still didn't have the all round experience required to bring on line project (very very important when submitting development plans (as small example) in areas where the govt themselves are also on a steep learning curve with regard to o&g resource extraction)"

hence, Appointment of io oil & gas consulting to Conduct Gas Development Study

"Aminex is pleased to report the appointment of io oil & gas consulting, a Baker Hughes, a GE Company, and McDermott joint venture, to prepare a gas commercialisation study to assist with the development of the Ntorya field, part of the Company's Ruvuma PSA acreage in Tanzania. The study is designed to identify gas monetisation options available to the Company including potential early development facilities to supply gas to local market and enable near term revenue generation"

"The Ntorya-2 appraisal well was drilled earlier this year and successfully tested in March 2017 at a stabilized rate of 17 million cubic feet per day. The well was suspended for future production. Aminex's management estimates that the Ntorya appraisal area has Pmean GIIP of 466 billion cubic feet."

"Gas from longer-term development of the field is expected to be supplied to the Natural Gas Pipeline and in conjunction with this Aminex is keen to implement solutions for early monetisation of Ntorya gas prior to full field development and construction of associated infrastructure. The Company may explore options to collaborate further in the future with io oil & gas consulting and to leverage Baker Hughes, a GE Company, and McDermott expertise in developing gas infrastructure in Tanzania.

"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."

[dunderheed] 24/3/2018 10:09

Edgar I dont think they have had (or up until very recently) they have the all round project experience. When you look at the respective 'experiences/successes' (ahem) of senior mgt directors on the website I can't see end to end exploration through to FID development in sub Saharan Africa experience anywhere?!!
Even had there been, I have lost count of the number of times an excellent SME (whether geo or engineer) is in charge of a small company but they simply still didn't have the all round experience required to bring on line project (very very important when submitting development plans (as small example) in areas where the govt themselves are also on a steep learning curve with regard to o&g resource extraction) .
Aligned with that they were such good geo / engineer types that they were 'bound' by this specialism which further restricted a big picture appreciation required.
This is my major concern and thus us why I think the market attributes such low value to entity. All imho of course!!