Share Name Share Symbol Market Type Share ISIN Share Description
Aminex LSE:AEX London Ordinary Share IE0003073255 ORD EUR0.001
  Price Change % Change Share Price Shares Traded Last Trade
  -0.05p -2.63% 1.85p 3,615,538 12:06:06
Bid Price Offer Price High Price Low Price Open Price
1.80p 1.90p 1.925p 1.85p 1.90p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.91 -1.69 -4.44 67.4

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Aminex (AEX) Top Chat Posts

DateSubject
12/11/2018
08:20
Aminex Daily Update: Aminex is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker AEX. The last closing price for Aminex was 1.90p.
Aminex has a 4 week average price of 1.35p and a 12 week average price of 1.25p.
The 1 year high share price is 3.80p while the 1 year low share price is currently 1.25p.
There are currently 3,643,458,062 shares in issue and the average daily traded volume is 3,888,653 shares. The market capitalisation of Aminex is £67,403,974.15.
19/10/2018
05:57
edgar222: I sent an e mail to the friends (none of them full-time investors) that ask me about Aminex at 7:37 am on the morning of the day it went up 30%. Posting it here in case it is of any use. Just my thoughts. And yes, I am blatantly claiming credit for the rise that day!! "I have been asked whether I have any thoughts on why the Aminex share price is tanking and thought it is probably time for an update. Lots of news since the last time I e-mailed. The share price is tanking because the income stream from the KN1 well has dried up. There is a problem with the pressure in the well and the gas stopped flowing. They thought that it was because of compartmentalisation (the gas is in a pocket in the reservoir) but they now think this is because of a faulty valve and are fixing it. They are also going back into the drill hole to re-perforate (punch holes into) a different part of the drill to allow gas to produce from a different area in the well. This remedial work has been delayed. We can guess at why the delay has happened but what we now know is that Bounty Oil (owner of about 8%) of the KN1 well could not pay their way. Aminex have recently announced Bounty are in breach of their obligations and have absorbed Bounty’s 8% of the licence into their own licence (effectively kicking Bounty out). That has undoubtedly delayed remediation. When the market sees the income stream restored it will mark the shares up. The other reason for the tanking price (I believe) is the really gross delay at Ntroya in Ruvuma. This is incredibly frustrating, even for a believer like me. If you remember on this licence they drilled Ntorya 2 (N2) in March 2017. The share price went up ten times (from the lows) and hit over 7p. N2 discovered an enormous amount of gas. The changed geological data as a result of that drill updated the basin model and the estimates for how much gas they have were also updated. The estimates are a CPR (Competent Persons Report). The numbers for N2 with N1 are now at approximately 2 Trillion Cubic Feet of Gas Pmean GIIP (not proved) and about 800 Billion Cubic Feet (C2 from memory or in other words more established/proved). Those numbers are enormous. In the North Sea 200 BCF is described as enormous and very valuable and Aminex have multiples of that. The next drill was meant to be back to back with N2 and was the one I was waiting for. It is called CH-1. It was not back to back and we are still waiting. Why this is so is unknown. I suspect it comes down to licence extensions, funding and other reasons. I do not believe it is the Directors fault though many do if you read the bulletin boards. My suspicion is that our main partner Solo could not pay for their 25% of the next drill. In the meantime the Major Oil Company that owns 29% of Aminex shares is Zubair. (NB. 29% is the most you can own in a UK company before you are forced by rules to buy the whole company, which triggers at 30%). Zubair not only own 29% of Aminex directly but they have farmed into the Ruvuma licence (which covers N1, N2 and CH-1). Farm into means buy a proportion of the licence. They have taken 50% off Aminex, whose share is now 25%. In order to buy that they will pay $5m cash. They will also free carry Aminex (pay for everything) up to approximately $110m. They will pay for the seismic data collection, the next drill, the cost of infrastructure (building pipelines etc) up to $110m. By the time that Farmout carry is exhausted there will have been multiple wells drilled and production to the tune of millions of dollars to Aminex. The net effect of all that is that Aminex does not have to pay for a thing until they are receiving from gas sales a very large sum of money. That sort of deal is gold-dust to a small company like Aminex. To have raised $110m in the market on their own would have been impossible and if it was possible would have involved the issuing of billions of shares, diluting us original shareholders immensely. Because Aminex are now debt free and do not have to raise money for their main project (Ruvuma) they are “safe”. A few years back they looked like they might go bust. They have cash in the bank (a few million) and are about to fix their KN1 income stream and receive $5m from Zubair. Compared to the risk profile of the Company when we all bought they are a completely different proposition. Not only is the balance sheet improved with debt paid off but the discovered gas at Ntorya (under the CPR numbers) is enormous. The next problem the market does not like is the licence situation. On one view (it is not straightforward) the Ruvuma licence has lapsed and Aminex own nothing. But they have met all their commitments under their licence obligations and that being so, the Tanzanian authorities are legally obliged to extend the licence. My understanding is that the licence applied for is for a 25 year development/production licence. With that amount of gas, such a licence is very valuable. There is endless debate around about why the licence has not been renewed. Conspiracy theories abound and the market hates uncertainty. Experience suggests things take ages in Tanzania (you might remember the gas sales agreement delay for KN1). The two Tanzanian gas authorities have already approved the licence application and it is with the ministry awaiting sign off. We now have a clue about when that might take place. The Farmout requires an Extraordinary General Meeting to approve it. That requires a circular. The circular (I believe) cannot be sent to shareholders until the licence has been granted because until that has been granted there is nothing to farm into or out. The company have said they expect the farmout to be approved by the end of November 2018. Which means the EGM must happen in November which means the circular must come out before that which means the licence must be granted soon. If you believe the licence will not be granted then you have been a seller of the shares. So by the end of November 2018 all that is due to happen. It is not guaranteed to happen and the waiting has been brutal. I am the most frustrated with Aminex I have ever been but putting emotion to one side and on the assumption that they will get their licence Aminex has never been healthier in the (many) years I have held it. Lots of retail investors (individuals not institutions) out there think the Farmout is a bad deal and too much of the licence has been given away. I very much disagree. The history of the 75% holding in Ruvuma was that Aminex always planned to hold 37%. They drilled N1 and Tullow oil walked away from their licence and gave their 37% to Aminex (in effect). Aminex then carried on and discovered all the gas they have. So the 75% holding was almost an accident. The demand for gas and power in Tanzania has grown enormously as industry floods in. They are building a pipeline to Uganda to export their gas. The current production cannot meet the demand. So when production can be put onstream the market is there. The CH-1 drill is targeting (we now know) another 900BCF gas approx. Looking at the geological maps in the presentations on the company’s website I thought it might be more. Aminex have a history (believe it or not) of under promising and over delivering on the gas found by the drill-bit. There is also a chance of oil. Oil would change everything to the upside. We are expecting a new CPR before the farmout and all of the numbers mentioned might increase with that news. Every CPR to date has increased the reserves estimates. With all of that information I have been buying Aminex again from under 2p per share. No one can pick the bottom of a descent of share price and I am not trying to. But in my opinion the shares are ridiculously cheap for what they have on the assumption the licence and farmout are approved. I own millions more than I did and my holding has doubled. My plan is to sell some on the rise towards the CH1 drill results (hopefully that can be spudded before Xmas but that may be unlikely now) and then hold for those results, which on the original plan would have been June 2017. I am trying to resist the temptation to put a share price on it on good news because like everyone else I do not know. But it hit 7p on N2 drill results and that is smaller than CH1 and Aminex were self funding at the time. They own 25% of the licence now not 75% but have a free carry. On production from 3 wells in Ruvuma (N1, N2 and CH1) and with large reserves in the ground booked the share price will be multiples of the current price. If the Zubairs wanted to buyout Aminex on good CH1 news (a distinct possibility) I would be very unhappy at the price being lower than 12p. If Aminex is allowed to remain independent and continue into the future they could be multiples of that. I have not mentioned their other licence Nyuni as it is effectively dormant. However with Ruvuma being paid for and run by Zubair they can re-activate Nyuni which has a 5TCF prospective resources and is very close to the enormous offshore discoveries that have been so famous over the years. It is very expensive to work offshore and Aminex have not yet farmed out Nyuni. But there is one lead (Pande West I think) that we kow about because a major has discovered a lot of gas offshore and the reservoir extends into the Aminex area. Seismic data is the next plan and if Aminex can start proving that up it becomes valuable." GLA
11/10/2018
08:29
dunderheed: Well that's the problem with catching a falling knife skinny me old mucker. I've got to admit the mentals over on lse seemed to have missed the point the other day that uwe had actually purchased a mm shares the day the share price ended up a tiny bit or was flat? Had uwe not being buying all these the share price pfmce that day, would have been pretty bad? I'm going to pop over 'there' quickly for a nosy around. Has drewky got his list up yet?
09/8/2018
11:56
dunderheed: Absolutely they've got this so wrong for so many years it beggars belief. The whole reason that there weren't any other interested parties with the Zubs in place is self perpetuating and prior to Zubs was also so, in that no-one was interested in touching AEX with a bargepole, because of misguided 'mgt' 'operated' aspirations or other limitations lol! All imho of course. But we are where we are so let's try and make the best of this - which means BOD halved plus salaries of 'remainers' reflect their performance to date and be incentivised to future share price growth or institutional investors coming onboard! The fact this will not happen is likely to hold the share price back for potentially a long time. Again all imho.
07/8/2018
07:33
blackgold00: full marks to andy, Dunder keep it over at lse, and I don't think the aex share price is being overly ramped up in recent days, do you?
13/7/2018
09:11
stonefold: SOLO. has 468,895,303 shares in issue AEX has 3,643,458,062 shares in issue So Solo's share price will be 7.77 times more frisky than AEX's when considering the same perceived change in project asset value in £. Also there is the possibility that AEX is now too entwined in the parasitic embrace of the Zubairs.
09/6/2018
10:31
dunderheed: Its not f'ing me responding continuously, lol. I said exactly that - he has been very right to date with regard to share price (that's all I was commenting on). I'm also v honest - I should have listened - sold out when he said and bought in now but... 1. I'm too lazy and 2. the share price would probably have shot up had I tried to be 'clever' 3. It's share price who continues the conversations not me, ffs buddy, I just say yes you're right to date on share price only - which in fact he is and left it at that!
31/5/2018
20:26
bunbooster2: Yes, but why does the board focus so much on dropping the share price to entice new investors? I understand the reason but existing investors should be AT LEAST as important to a board of a COMPETENTLY MANAGED COMPANY. When the share price goes down so does the monetary value of your stake in the company. Cold hard cash. It's like I used to say to salespeople don't sell on price, sell on value... seems like the board have never had any sales training and keep lowering that share price to attract cheap charlies.
26/5/2018
12:21
blackgold00: Haider "I know of at least one experienced PI (used to post on TMF) who sold out when Stuard Detmar left AEX, the share price was around 10p at the time IIRC" more like 4p-5p jan 2013, yes i think i know who you talk of, not heard much of him since,he was very fond of ophr back then, interesting how both the aex/ophr share price has preformed. https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Board-Change/55932502
06/11/2017
12:55
blackgold00: from Malcy this morning Http://www.malcysblog.com/ Aminex "AEX is down this morning after an announcement that has spooked the market regarding gas production from Kiliwani North-1. Following a power outage a few days ago in Dar es Salaam gas demand fell and has reduced flow rates to around 1 mcf/d and their is some technical validity to the thought that the well is draining a compartment within the Greater Kiliwani North structure and ‘exhibiting slow recharge’." "Solutions include installation of compression facilities, which should boost production at minimal cost, in the meantime the current, lower production should have beneficial effects on maximising long term recovery and better reservoir management." "AEX has no debt, cash in the bank and whilst problems at Kiliwani North are irritating, investors should be concentrating more on the Ruvuma PSA where a 25 year development licence has been applied for. It should be noted that the announcement from Solo, who are not the operator, is probably slightly more accurate and that a 20% fall in the AEX share price is way overdone and an opportunity to buy some cheap stock…"
01/11/2017
14:17
lfdkmp: Ronwilkes Is the AEX share price now subject to antigravity?
Aminex share price data is direct from the London Stock Exchange
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