Aminex Share Discussion Threads

[gerryjames] 04/10/2018 07:34

Both. Unless they're happy not getting paid.

[oilretire] 04/10/2018 07:27

Not sure if they are fed up or "can't pay we'll take it away"??

[kryptonsnake] 04/10/2018 07:27

Sounds good to me

[duxy786] 04/10/2018 07:26

Good times

[gerryjames] 04/10/2018 07:11

Bounty have had enough.

"Bounty revenue expected to re-bound strongly in 2017 to around $3.5 million with contributions from Tanzanian gas sales anticipated to add $2.5 million"


But they didn't get paid. So.


"Aminex plc

("Aminex" or "the Company")

Kiliwani North and Nyuni Area Update

The Company announces that, as a result of payment defaults by Bounty Oil & Gas NL ("Bounty") under the joint operating agreements relating to the Kiliwani North Development Licence and the Nyuni Area PSA, that Bounty is now deemed to have transferred its interests in such assets to the Company's wholly-owned subsidiary, Ndovu Resources Limited, and the other non-defaulting parties. The transferred interests include all rights and liabilities except that Bounty will, pursuant to the joint operating agreements, remain liable for its share of any outstanding work commitments and abandonment costs.

Subject to the completion of certain formalities, Aminex's interests in the Kiliwani North Development Licence (which contains the Kiliwani North field and Kiliwani South prospect) and the offshore Nyuni Area PSA have therefore increased by 6.383% and 6.6667% respectively."

[blackgold00] 03/10/2018 18:56

that Theresa May is some mover

[blackgold00] 03/10/2018 15:41

I guess tiptop is still out of Aminex and nurturing the new baby AAOG

[bunbooster2] 03/10/2018 10:57

Would all of the 130 mmfcd from WRL be going to Madimba? It has a maximum capacity of 210 mmfcd as per the Aminex presentation. Which obviously limits Aminex if so.

[blackgold00] 03/10/2018 08:36

or I would suggest Wentworth that you carry on as you are, at no extra cost. was that one of the Carry on films : )

[cperkin] 03/10/2018 08:28

In order to increase field production rates closer to a 130 MMscfd plateau, while still maintaining the capability to provide minimum contractual volumes of 80 MMscfd to Madimba (TPDC) and 2.5 MMscfd to Mtwara (TANESCO), Wentworth believes that additional well recompletions and/or drilling and compression facilities will be required in due course.

[blackgold00] 03/10/2018 08:19

thanks cperkin, as I understand it WRL Manzi Bay can produce up to a max of 125mmcfd, but only for a short period of time, because of managing well integrity, so I would think that they are now reaching maximum sustainable levels that can be produced long term.

"To the Company's knowledge, there are currently no uncommitted onshore 2P gas reserves to supply the near to mid-term demand requirements."

I think once the farm-out completes, things are going to move very fast, CH-1, 3D, EPS.

[gerryjames] 03/10/2018 08:10

Yes that's good news for them.

"Given the consistency of payments received to date in 2018, the Company no longer intends to release monthly updates to the market."

[dunderheed] 02/10/2018 11:17

I believe there is an awful lot of 'tubthumping' going on over on mental central as we 'speak'?!

EDIT drewks post 11.17. Absolute beautiful poetry in motion.

[canigou2] 02/10/2018 11:07

Any chance we'll be tubthumping this year?

[blackgold00] 02/10/2018 10:53

it was all about oil and being a first mover into Tanzania. all they have done is play the cards that have been dealt them. and in my mind apart from the actual gas Aminex have discovered, the ace card that was dealt them was when the Government decided to build the Tanzania gas infrastructure, processing plants and pipe-line, because without it, I don't think we would be here today, and I would go further and say that decision to invest in that infrastructure was a bit of a fluke, as I think it was made under the pretext that all of that lovely off-shore gas was coming ashore fairly soon. isn't it funny how we've all got our different ways of looking at things : )

[gerryjames] 02/10/2018 10:48

Bad decisions...North Korea! Could end up back there. Tullow leaving wasn't helpful when it quickly became clear Shell wasn't the next farm-in partner. It was SOLO.

[dunderheed] 02/10/2018 10:06

As I've been saying for a long long time Gerry their 'strategy' has been flawed from day 1 plus 1 year. You have to give them a year to realise they are down wrong road.
I personally believe they have made loads of silly decisions and mistakes ('hidden' some as well i.e. assiduously implied 'blame' was elsewhere (without specifically rns'ing as such) or simply were not as openly forthcoming as they could have been) which have collectively 'achieved' the position they find themselves in today.

Basically the buck stops with BH for employing such a long term strategy and the 'management' decisions over the years including personnel decisions of course.
There are lots of countries with regard to 'similar governance' in Africa where oil and gas companies have thrived to differing levels of achievement.

As ever all imho of course and dyor.

[gerryjames] 02/10/2018 09:48

There's only one management in Tanzania Dunder. Are you suggesting Aminex should have worked harder to get more than 100m from dilution and a crippling loan to please them and still be in the same place. Waiting for them to count the meritless claim. Correctly.

Don't get the Management bashing. Per say. Not in Tanzania. They do look after themselves mind. They've intergrated well.

[canigou2] 02/10/2018 09:41

Its getting just a little bit tedious in the waiting room at ham n'eggs.