Aminex Share Discussion Threads

[stinkypeet] 12/6/2018 13:05

"The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised."

If you interpret this statement as the both of you do it would mean that AEX would only receive the License to develope Ntorya shortly before or at the same time as the License is about to expire.....! Also BG you have suggested that the recent approval to conduct 3D seismics for the Ruvuma area ("concentrating on Ntorya")must be a prelude to further activity in the area. Well this is unlikely if we are not going to get the Development license approvals until 2020.

No, as I have suggested previously the inclusion of the phrase "possibly until January 2020" relates purely to the License Extension. The section of the statement "during which time the development licence for Ntorya is expected to be finalised." relates, in my view to the initial statement " "The Company expects to receive an extension to the Mtwara Licence"

So the statement could read ""The Company expects to receive an extension to the Mtwara Licence during which time the development licence for Ntorya is expected to be finalised."

Ultimately only time will tell.

Irrespective of the above I do think we will get news on the KN1 remediation and outcome of the C1 tender process before or probably during the AGM.....

[blackgold00] 12/6/2018 13:04

stinkypeet, its all in the title, PSA Production Sharing Agreement, its from this document that the development licence will emerge, as Aminex has stated "The Ntorya gas project is a component of the Ruvuma PSA" in the Competent Persons Report 05 February 2018.



PETROLEUM (Exploration and Production) Act, 1980

"Petroleum exploration and development in Tanzania is governed by the Petroleum (Exploration and Production) Act 1980. This Act vests title to petroleum deposits within Tanzania in the State and is designed to create a favorable legal environment for exploration by oil companies. The Act expressly permits the Government to enter into a petroleum agreement under which an oil company may be granted exclusive rights to explore for and produce petroleum."

Model Production Sharing Agreement (MPSA)

"Tanzania's Model PSA serves as the basic document for negotiations between foreign oil companies, the Government and TPDC. It sets out the terms under which exploration and production can take place"

[stinkypeet] 12/6/2018 12:48

BG and GS yes indeed I agree with much that you say but just to mention that I recall the BoD stating at the time of the Dev License application that the Ntorya Development License would be "carved out" of the Ruvuma PSA (when we had one). Additionally I also remember quite clearly JB stating in an interview in Q4 2017 that the, then NT3, drill was not officially dependent on the License extensions - that they could still continue to drill without it. I remember because at the time, to me, that seemed unrealistic....

Moreover and as has been alluded to by you the Farm-Out of Ruvuma cannot take place until there is a License for Eclipse to farm in to..... but if as you suggest GS the 25 yr Development License is approved well after the License Extensions, the Farm Out will have to be agreed on for the "basic" Appraisal license only - how can a Farm-Out be agreed for a 25 yr Development License that has yet to be approved or indeed terms (valuations) agreed for something that is not guaranteed?

Hence my view that the these two Licenses will follow in quick succession and the Farm Out only after that... though when that will be I would not be confident of suggesting. For the AGM? As I have long maintained unlikely (50:50 at best) but I do not think they will be too much longer.....

[greyingsurfer] 12/6/2018 12:09

Ntorya 3 is not dependent on a 25 year development licence

but it is dependent on the Mtwara PSA Licence extension

I was puzzled by that statement at the time. Since N-3/C-1 is within the appraisal licence, and my assumption had been that the development licence would be based on the boundaries of the appraisal licence, and so would include C-1. However, it appears the development licence will not be finalised for a while, and the rest of the licence will (at least in part) revert to the Mtwara explo licence.

Making things more complicated is the other quote:

The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised.

which implies that C-1 may be drilled (on the extended Mtwara explo licence) before the development licence is finalised. There is some sense in that, it clearly makes sense to have an FDP that includes the input from C-1, but it does mean that licence negotiations for Ntorya are going to be going on for some time yet!

As you say, though, BG, the Mtwara extension (plus other news perhaps) could appear at any time. It's no surprise to see the share price slide a bit in the interim, but it will be a big shift in the immediate prospects and visibility for company when it comes, and that is likely to be reflected fairly sharply in the share price

Peter

[ronwilkes123] 12/6/2018 12:02

Correct againI note crusty pete is flip flopping over on lse

[blackgold00] 12/6/2018 10:54

nothing stranger than folk ron, just one little rns that will clear the uncertainty, the Mtwara PSA Licence extension its what the farm-out and the C-1 well hinges/depends on, and that i believe is going to be the next bit of news announced, and its coming soon. so be warned ron : )

you can't drill without a licence.

"Aminex has been reviewing different funding options and is currently working on a farm-out of part of the Group's interest in the Ruvuma PSA to an affiliate of the Zubair Corporation, as previously announced. The Company expects to receive an extension to the Mtwara Licence, possibly until January 2020, during which time the development licence for Ntorya is expected to be finalised."

@AminexPLC
Mar 1
More
"AEX committed to drilling Ntorya 3 in 2H18 subject to finding a suitable rig"


@AminexPLC
Mar 1
More
@Ntorya 3 is not dependent on a 25 year development licence"

but it is dependent on the Mtwara PSA Licence extension, also The tendering process for the rig to drill Chikumbi-1 is due to close during this month, and that contract must be dependent on the success of the farm-out or available funds.


9 April 2018 Ruvuma Operational Update
"The tendering process for a rig to drill Chikumbi-1 is due to close during the current quarter with an expected spud date later in the year, exact timing of which will be dependent on rig availability."

yes, with the AGM set for the 11th July and with last years vote "To authorise the Company to
convene a general meeting on 14 days’ notice " then there is still plenty of time for the PSA extention and farm-out to be announced ready to be voted on at the AGM. so in my humble opinion, stay calm and keep the faith

[ronwilkes123] 12/6/2018 08:33

Why is this blue - all red sells so far today strange

[888icb] 12/6/2018 07:57

A good idea and I suspect they are just 1 Ronnie!

[onedaysoonmaybe] 12/6/2018 07:49

Thanks dunder - I've now filtered the two ronnies.

[ronwilkes123] 12/6/2018 06:40

It's great to finally find someone on here who thinks the same as me

[resurrect123] 12/6/2018 06:39

How low can it go

[resurrect123] 12/6/2018 06:37

Not today boys not todayFurther drops to come today

[dunderheed] 12/6/2018 05:00

Click on the name of avatar and you'll her a choice about them, one of which is filter.

[onedaysoonmaybe] 11/6/2018 22:19

Where do you go to filter please anyone? I'm on mobile and can't see an option to.

[kinkell] 11/6/2018 21:37

resurrect123 - filtered

[resurrect123] 11/6/2018 21:18

Kryptonsnake not filtered pitied

[kryptonsnake] 11/6/2018 21:13

resurrect12311 Jun '18 - 21:00 - 68079 of 68079 (Filtered)


That's better!

[resurrect123] 11/6/2018 21:00

Where is my main man pete tonight

[resurrect123] 11/6/2018 20:21

If those three people liking your comment actual bought and held shares in aminex rather than panic into any red - people like me wouldn't target stocks like this - aminex has inherent weaknesses

[resurrect123] 11/6/2018 19:59

I love the aminex style rise 20% fall 40% Interesting - look at the chart

[resurrect123] 11/6/2018 19:48

But the share price is falling maybe if it went up I could disappear. Maybe aminex May do something one day

[resurrect123] 11/6/2018 17:47

There is still falls to come tomorrow and everyday this week

[kryptonsnake] 11/6/2018 17:46

ron.. I mean resurrect,

you were so right about AEX dropping this morning. It really fell some, I was so shocked as to how much it fell.

[onedaysoonmaybe] 11/6/2018 17:38

It's the two Ronnies.