Aminex Share Discussion Threads

[dunderheed] 31/3/2018 14:06

CP wtgr please take it from me and all imho of course and as ever dyor, if the assets were as interesting as all the sycophants appear to believe, they would have gone by now. Really simple mate but once again (it has happened once before about 20 years ago I think), perhaps I've totally mis read the situation and the last rns was to cover mgt backs because there are others in the frame but the 'mgt' want go with Zub and this was a way of highlighting this to mkt then just going with Zub deal to ignore the other 'offers'. Cue very public war, international arbitration for the amazing world class assets a la FAR in Senegal lol! Maybe even more, so we could have public walk outs in protest and riots on the streets, govt calling in marital (deliberate btw) law I dunno....
I'll let you decide which is more 'likely' and don't forget all IMHO and DYOR and for some other readers pleasure, LOL LOL!

[cperkin] 31/3/2018 13:46

But dunder unless you have some inside information, then you have no idea if other companies besides the multi billion $ Zubairs are interested? One rumour out there is Statoil and as plausible as all the other theories I have seen posted.

I agree Haggis, it must make sense to the majority Shareholders, a big unknown for me is who needs to fund the pipeline? One drill, re-complete NT1 & 2 and a maybe pipe. Certainly it would be good to see funding through to self funded production, but at what cost?

[dunderheed] 31/3/2018 12:46

Haggis how do you know they are so willing?! Also do you think they are a charity? If I were 'them' I'd mark it to what other other companies are willing to offer.
Ahem oh dear, they're hardly queing at the door are they?
All imho and dyor.

[haggismchaggis] 31/3/2018 12:23

Largest return for least dilution, yes. But the option also has to be viable, attractive to the BOD and major investors like Zubair, and be open to raising significant funds for Ntorya Development.Why do fundraising one well at a time and take ages, when you have a supportive major investor that's willing to pump in enough cash to cover a multi-well programme, maybe some 3D seismic, or even a pipeline, CNG or power plant?

[cperkin] 30/3/2018 17:59

One drill away and a pipe from self funded appraisal and development through production.

Several options, do it with Debt like WRL, do it through dilution or do it through farm out.
The option with the largest return for least dilution should win out.

[dunderheed] 30/3/2018 17:40

CP I've been saying that for ages matey.
In fact its so long ago that during that period I've lost even more confidence in the management to the point that I am less confident now however would probably still be very happy for 1 4 5 reserved specifically for drilling n3.
All imho and dyor!

[cperkin] 30/3/2018 16:37

Only 1 option?

Oh well so worst case for no farm out would be a placing and open offer. Well the last one was great value even at todays SP, so I guess I could live with that.

[dunderheed] 30/3/2018 16:28

So you're an accountant/fd by the looks of it then??
I agree your second point if you have the options available however, you may only have one, which is kinda my point lol?

[cperkin] 30/3/2018 16:20

I mean if you need money you take the option that provides the minimal impact to future gross & Nett profit right.

All imo of course.

[cperkin] 30/3/2018 16:15

Depends on your ROI right?

[dunderheed] 30/3/2018 16:11

I think placing was the obvious thing except I am wary of wasting anymore money on incompetence / inexperienced mgt, so may be this is why they haven't chanced it?
Which is also why I think the lse guys are over valuing the farm in because it ain't going to be that much better than the offset of dilution of a placing.
Anyway hopefully we will find out soon.
All imho of course.

[cperkin] 30/3/2018 16:02

:) I don't discount any of your theories at all dunder, any farm in however would have to satisfy shareholders (including Majedie that either/or

1.0 it was in the interest of protecting the assets and profit, or
2.0 would provide funding through to self funded development at a lower % dilution than a placing.

[dunderheed] 30/3/2018 15:45

Look you know my opinion matey, lol!
You can have as many big players as you like but if u aint got the cash (with these ownership percentages) so what!
We are in the 'position' because of the 'management' the assets. It doesn't matter what anyone says, that is a fact.
Whether they have been intentionally mis managed by virtue of largest holder 'allowing' the situation to deteriorate to now or, just incompetence I don't know.
But we are where we are, which means a lot more of aex is in third party hands than I think we needed at this juncture but again, c'est la vie and at least some things are happening!
We will find out soon anyway and once again all imho and no investment advice intended. Best of luck all.

[cperkin] 30/3/2018 15:36

@ 9.9% Majedie Asset Management Limited is a "big player"

[dunderheed] 30/3/2018 15:11

Ah thanks SPete. You guys are big aex players!!
Reserved for Pram.

[stinkypeet] 30/3/2018 14:55

Dunderheed I can confirm that LT is a lovely and very genuine man; I have met him at the AEX AGM and he is a perfect gentleman....

[bunbooster2] 30/3/2018 14:30

I gave up wearing pants a long time ago. If you're already wearing trousers what's the point? Fashion? Give me a break!

[dunderheed] 30/3/2018 10:40

R ok I must have missed that one! I have a lot of time for LT, he appears to be a decent person. I genuinely hope his investment in nuog comes off.

[gerryjames] 30/3/2018 10:37

I was in Mass. Greta Garbo is what Last Throw called Bunbooster a few weeks ago. He said he had nothing better to do than sit around in dirty pants.

[dunderheed] 30/3/2018 08:18

Gerry I am surprised to see someone posting so early on a good Friday. It did cross my mind perhaps that aex had released an update rns today but perhaps they'll leave that to this Sunday?
You'll Have to explain further about 66794?! Who were you replying to 're m&a.
I'd be happy for that but think unlikely or were you being serious lol?
Plus reference to pulling pants up and Greta Garbo? A little b4 my time I'm afraid?

[gerryjames] 30/3/2018 07:55

No a takeover approval by the mergers and aquisitions board. Silly...and change your pants. Another Greta Garbo impersonator.

It would be a shame though. I've always admired how Bunbooster has managed to keep a tight grip on his stock. Through thick and thin. He always seems to enjoy it even when it keeps him up at night. He'll still be rubbing along at the end no doubt when taken over.

[dunderheed] 29/3/2018 13:37

Oh I took the certain other approvals to be simply, internal Zub approvals?
If it is a farm in the govt dont really care unless they are not fly by night under capitalised merchants or, not wanting to add to the ridiculous conspiracy big 20 partner conspiracies, unless a biggie was having a 'word like' with them intimating interest?!
All imho of course!!

[blackgold00] 29/3/2018 12:52

"Any farm-out would be subject to Tanzanian Government, shareholder and certain other approvals."

I am beginning to wonder now, who would be the (certain other approvals) the Mergers and acquisitions board?



"From a legal point of view, a merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's stock, equity interests or assets."



"a shareholder must make an offer when its shareholding, including that of parties acting in concert (a "concert party"), reaches 30% of the target ("mandatory bid rule");

considering our 29.9% cornerstone investor (Eclipse Investments LLC) and now the proposed sale of Ntorya assets to the said (Eclipse Investments LLC) I wonder if it will have to go before the Mergers and_acquisitions board and plus what if it wasn't allowed, would they then make a full offer?



"The Cornerstone investor, Eclipse Investments LLC, wholly-owned by members of the Al Zubair family, who in turn own 100% of The Zubair Corporation LLC"



"Aminex advises that it is in discussions with Eclipse Investments LLC ('Eclipse'), which is a related party, regarding a possible farm out of part of its interest in the Ntorya Appraisal Area"

[dunderheed] 29/3/2018 11:51

Thanks cp, I truly love the o&g industry and have had very enjoyable 25+ years in e&p but as well paid as it is am definitely off to pastures new!

[cperkin] 29/3/2018 11:48

Good for you, you only live once so fill it with as much positive stuff as possible!
All the best!