Aminex Share Discussion Threads

[dunderheed] 07/8/2018 07:13

Govt always free carried through to dev phase in psa/psc.
Free can be quoted when all back costs paid and full costs through to a pre specified point in time such as first oil BUT normally the free carry is the remaining equity held ie 25 % free carried through to oil but normally such texts only reserved for the govt carry because obviously percentage in licence ceded so the wording has to be very specific!
Hence normally referred to as carried costs through to first oil. Generally speaking nothing 'free' in life. Good luck all got to run and all imho !!

[skinwalker] 07/8/2018 07:05

It seems to me 'carry' and 'free carry' need to be clearly defined.
And then there's 'free carry interest' which is presumably different?
Working on the assumption that nothing of any value is truly 'free', do these terms have any validity or meaning?
I've never come across any of these terms in 50 years of business.

[dunderheed] 06/8/2018 14:25

greying you are of course correct but actually it is a carry and not always referred as 'free' carry however, drewky was using this in the context of ramping.
He has lost the plot a bit and this is why I call LSE board mental central - he thinks he is the AEX BB policeman and used to poke a lot of fun at me because of my conservative estimate of eventual carry (mine was the 'worst' and still about 50% over what AEX landed with lol). His varied at between 4 and 8 times mine depending upon what his mood was, which did confuse me, as to why there were such drastic swings in his economic model which he never seemed able to explain!!
To put it politely he has got a little bit emotionally tied to AEX and sees all sorts of short conspiracies all over the place lol!
I will not try and list where he has completely misunderstood certain commercial aspects of o&g e&p as I simply do not have the time!

[greyingsurfer] 06/8/2018 14:16

Kev, I'm not defending drewsky, whoever he is, I don't read LSE so don't read his posts.However, to set the record straight, it's perfectly normal for E&Ps to be described as having a free carry relating to the residue of the interest after a farm out, so if that's what he is saying it's true, even if you're not happy with the size of the farm out.In fact since AEX are in a somewhat better position than most farm outs in that respect, since by agreement anything unspent in getting to agreed production levels still gets paid.Peter

[stinkypeet] 06/8/2018 08:41

The position you describe skinwalker was as of 31st December 2017 and there will have been plenty of time to translate some of those receivables into cash. That said I suspect that, withot any income since the turn of the year and with both CPR, IO Commercial study to pay for and another 6/7 months of Salaryies to pay at $2 million p/a there won't be much of that left..... probably just enough to get to that $3 million payment in November I suspect ;0)

[gerryjames] 06/8/2018 08:09

A true gentleman Skin...first concern the welfare of the board.

[dunderheed] 05/8/2018 10:48

Does anyone know why, when you look up meaning of 'LOST THE PLOT', on inter web multiple pictures of 'LSE AEX BB DREWKY POSTS' come up?
Have we arrived at AS11 alerts?

[shabbadabbadoo2] 04/8/2018 16:09

Why do you think there is a $5m cash element to the farmout?

[skinwalker] 04/8/2018 11:14

Gerry - So the "cash and receivables" figure in the latest accounts is virtually all 'receivables'?
Will they be able to pay next month's salaries then?

[gerryjames] 04/8/2018 07:21

Whom would be the TPDC BG. Whom are usually owed money by Tanesco. Whom are also claiming money owed by The Partners. "Without merit". Surpirise, surprise.

8
"Included in trade receivables is an amount of US$6.94 million due from TPDC in respect of Kiliwani North gas sales and interest due on late payment. Aminex's net share of the receivable is US$2.70 million (2016: US$1.94 million). No payments have been received from the TPDC since the year-end. As set out in Note 13(c) to the financial information, Aminex has received a letter from TPDC for certain claims amounting to US$5.97 million for liabilities arising on revenues from gas sales. All amounts fall due within one year."

13
"(c) On 11 April 2018, Ndovu Resources Limited, a subsidiary company of Aminex PLC, received formal notification from the TPDC of certain claims amounting to US$5.97 million with regard to unpaid royalties and amounts due under profit share arrangements which it proposes to offset against the receivable of US$6.94 million owing by TPDC to Aminex at 31 December 2017 (see Note 8). Of the amount claimed, Aminex has already accrued for the liabilities it considers appropriate based on its own calculations of amounts due as at 31 December 2017. Aminex has advised the TPDC that it does not accept the balance of the claims, which include computational inaccuracies. No further provision has been made in the financial statements for the additional amounts claimed as the Directors believe the claims are without merit and are satisfied that the US$6.94 million included in trade receivables as owing from the TPDC will be fully recovered."

[skinwalker] 03/8/2018 20:00

Are Aminex owed money? What for? Have they done anything?

[blackgold00] 03/8/2018 09:37

"where is the money Aminex is owed?"


by whom gerry, TPDC or Tanesco

[blackgold00] 03/8/2018 09:25

yes, haven't you noticed?

[gerryjames] 03/8/2018 09:21

Oh more reliable are they?...where is the money Aminex is owed? You should factor it in. It explains a lot.

[blackgold00] 03/8/2018 08:18

yes and we now have 25% of Ntorya with a Pmean GIIP of 1.87 TCF, and being fully carried to full production of possibly 130 mmcf/d, what could that be worth to Aminex's MC ?

[dunderheed] 03/8/2018 07:50

Slepy wtgr have you worked in BD in o&g industry. Imho, it is almost incestuous and a vast majority of deals are done through 'active ongoing connections' and trust in professionalism.
I have reviewed quite a few deals where the company involved simply didn't like the 'attitude/professionalism' of the promoters and walked rather than bother.
I have no idea but apart from the zubs the rest of the 'crew' hardly have a sparkling c.v. of that many serious external company connections and thus could be one reason why the bod were scratching around for partners?
All imho and dyor of course.
EDIT it doesn't matter now anyway as they are beholden to zubs and I am ok with that. Better zubs than no one!!

[jimarilo] 02/8/2018 22:14

I remember this @ 30p with high hopes

Must have been around 2005/6

[slepy] 02/8/2018 21:24

@Dunderheed when Jay in all interviews says “We looked at all our options” I’m pretty sure he is thinking we had no one else interested and it was either this or nothing.

[edgar222] 02/8/2018 21:07

Agreed, Peter.Solo will be lucky to get to production with 10% I reckon.

[greyingsurfer] 02/8/2018 16:09

Which is more likely, at some point over the next few years, Solo 10 bags to 100 million on 25% of Ruvuma or Aminex 10 bags to 600 million on the same share?

The difference is, BB, that Solo will never get to production holding 25% of Ruvuma (anymore than AEX could holding 75%)

Peter