Aminex Share Discussion Threads

[dunderheed] 02/7/2021 11:28

Yes spent years getting to this diluted position due to the poor management of the past.

[edgar222] 02/7/2021 11:23

Am hoping there is no deal with WEN or others that dilutes Ruvuma for AEX. We have spent years getting to this position and dont need dilution.

[rangenoresources] 02/7/2021 10:43

Still down 0.25 from one month ago

[rangenoresources] 02/7/2021 10:43

Made up for days of losses

[blackgold00] 02/7/2021 09:43

dbfromgb, yes agree, some where within or between 3/4 i'm thinking, the right deal could not only see AEX and WEN benefit but the TPDC/GOV, by opening up the Kiliwani South and the Nyuni gas play, also for TPDC, their new 140 mmscf Songo Songo processing plant is hardly being used at the moment, i.e. processing just 20/30 mmscf, so no doubt economically they are desperate for a new supply to fill it. Regarding non operators Wentworth, and just my opinion, they do have an under used substantial cash resource stream, but i do not believe they have the technical skills within their management team to become operators, though in saying that i also believe they have an ambition to become one or apart of one ??

[whoppy] 02/7/2021 08:25

You might be right. Any deeper oil target will show on the 3D. If confirmed, then it's an additional bonanza. Onshore oil in Tanzania would be huge.

[kingfisher14] 01/7/2021 20:42

I put money Ara are looking for the oil

[whoppy] 01/7/2021 20:14

Yes, and more money will be coming over now that the funding is sorted and the 3D is starting. Big upgrades coming.

[888icb] 01/7/2021 20:04

ADVFN ended the day with AEX at Number 10 on the Leaderboard Up 14.29% which was nice!

[888icb] 01/7/2021 18:11

Not a bad day to start the second half of the year in positive territory from the start and a volume of 18 million with 15 million buys. It should have closed at the mid price of 0.6 but the MM’s used an uncrossing trade of 807 shares to close it on the bid price of 0.55. So what was really a gain of 14.2% was reduced to 4.7%. The good news is that it should be reversed in the morning with a move back to 0.6 to open positively.

[kingfisher14] 01/7/2021 13:49

Zubains are professionals at getting oil/gas out of the ground.They will see it through to production there will be no takeover. If Aminex need a few million they will lend it to them.The share price will bounce around the level we are now for 2years.Then investors may start to see a return

[kingfisher14] 01/7/2021 13:49

Zubains are professionals at getting oil/gas out of the ground.They will see it through to production there will be no takeover. If Aminex need a few million they will lend it to them.The share price will bounce around the level we are now for 2years.Then investors may start to see a return

[rangenoresources] 01/7/2021 13:47

16.5 M sellerFollow the money

[dbfromgb] 01/7/2021 13:33

My take on things. The bit I was interested in was the comments on Kiliwani and Nyuni. Paraphrased as 'consolidation' or 'farmout' and 'upon completion of the farmout'. The last part is puzzling, surely the farmout is complete? Do they not mean 'following completion last year of the farmout'? NOMAD care to comment?

Now we know that they have stated they do not want to be an operator, so what do they want to do both for PI's and to satisfy options and Instos?

1) Hold on and await Chikumbi results, batten down the hatches and raise the absolute mínimum to keep the lights on.
2) Cut and run with a low ball offer from ARA.
3) Farmout Nyuni to WEN as operator to raise cash and keep options open whilst derisking by opening up the Nyuni play. BUT this would require Tanzanian consent, and we have been there before.
4) Consolidate with (probably) WEN, for which I read merger.The terms would have to be atractive to both. I am not sure that would need Tanzanian approval as AEX would become a subsidiary. In exchange for issuing shares in WEN (aka dilution)they would acquire the Ntorya asset as non operator, and become owner/operator of the Nyuni/Kiliwani asset. AEX shareholders could sell out or take shares in WEN. Would require shareholder approval.

The fly in the ointment here is Tanzanian approval - until TPDC resolves the arrears issue, and the licence extension for Nyuni is agreed, both sides are hamstrung.

But in my book a merger between AEX and WEN is where things are at. and on that basis I have rebuilt asignificant (for me) stake.

[888icb] 01/7/2021 11:56

Let’s not forget that 4 years ago before the 3 year delay to progress caused by the Tanzanian Government and before the farm out AEX had a market cap of £250 million which is over 10x its current market cap of £22 million. We are now fully funded to production and almost certainly have more than double the gas we had then.
The purely speculative HE1 which has no proven gas and isn’t funded to production which is probably on a similar timeframe to AEX if they actually find commercially recoverable gas is on a market cap of £147 million.
So AEX’s past history and the current market cap of HE1 would support a much higher share price for AEX right now.
As a long term holder AEX is looking to be in the best place it’s been since that rise to 7p 4 years ago better in fact because of the farm out and more gas.

[greyingsurfer] 01/7/2021 11:52

The only price would matter would be what they could get away with. They might manage at around 1p, but I'd think 1.5 would be more likely to clinch it.

[onehanson] 01/7/2021 11:48

If ARA was to buy AEX, what will be a fair value in your opinion?

[haggismchaggis] 01/7/2021 11:04

Going by the price I'd say the market is putting greater weight on the big resource increase and over double the 3D Seismic required, than the increase in time to drill it.

Price may go up nicely long before 2024 or even before late 2022, as there will be other news on Seismic, spud date, drilling plan for the whole area, and potentially the Tas Gov paying us what they owe us so we can get back to work on Kiliwani etc.

Farm out agreement 11 July 2018:

"Acquire, process and interpret 3D seismic over a minimum of 200 km(2) within the Ntorya area, which is understood to be the first time 3D seismic has been acquired onshore Tanzania"

"The Company will retain a 25% interest in the Ruvuma PSA which includes Ntorya's 1.87 TCF (311 million boe) Pmean gas initially in place (2017 RPS Energy Consultants Limited report) and which is expected to be developed without the need for new funding by Aminex."


Ruvuma updates today:

"3D seismic acquisition over 454 km(2) on the Ntorya location, under the Ruvuma PSA, expected to commence third quarter of 2021 and continued progression of well planning activities for the Chikumbi-1 exploration and appraisal well, for which Aminex is fully carried under the terms of the Farm-Out Agreement"

"In addition, APT has performed a re-interpretation of the existing 2D seismic dataset and considers the Ntorya gas reservoir to be the product of a stacked, high-energy, channelised sand system. Moreover, their revised mapping and internal management estimates suggest a mean risked gas in place ("GIIP") for the Ntorya accumulation of 3,024 Bcf, in multiple lobes to be tested and a mean risked recoverable gas resource of 1,990 Bcf, which will be appraised by the planned seismic and drilling programme."


So, we may have got another delay, but our target looks way bigger than it did! And still the potential for oil to be trapped in this huge area in one of the levels.

[whoppy] 01/7/2021 10:38

That sell has long gone. 16.9m at 0.53p was wrong trade. Distressed seller probably.

[boss hogg investor] 01/7/2021 10:37

Director sell... me thinks so

[skinwalker] 01/7/2021 10:37

Ah but does whopper know what a fact is ?

[boss hogg investor] 01/7/2021 10:36

16.5 M seller doesn't share your confidence.

Why you not filling ya boots?

[whoppy] 01/7/2021 10:36

Director buys? Lets get some director buys and holding RNS's

[whoppy] 01/7/2021 10:30

5.8m buy just landed from 8:15am. Makes sense for this to go back to 1p and then onwards. Hugely undervalued. Follow the money.