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Share Name Share Symbol Market Type Share ISIN Share Description
Aminex Plc LSE:AEX London Ordinary Share IE0003073255 ORD EUR0.001 (CDI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.775 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.75 0.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.11 -6.33 -0.17 28
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.775 GBX

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Date Time Title Posts
29/6/202216:47AMINEX - roll up for the East Africa show!77,445
28/6/202201:15Aminex - Gas Exploration and Development in Tanzania44
10/5/202210:39AEX25
24/2/202214:58TITS - This Is The Speculation Thread254
30/11/202106:21Aminex PLC - Exciting times ahead.356

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2022-06-29 14:59:490.75750,0005,632.50O
2022-06-29 14:52:140.78300,0002,340.00O
2022-06-29 14:50:350.7917,974141.46O
2022-06-29 14:13:020.79378,4382,980.20O
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Aminex (AEX) Top Chat Posts

DateSubject
29/6/2022
09:20
Aminex Daily Update: Aminex Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker AEX. The last closing price for Aminex was 0.78p.
Aminex Plc has a 4 week average price of 0.75p and a 12 week average price of 0.73p.
The 1 year high share price is 1.15p while the 1 year low share price is currently 0.47p.
There are currently 3,643,458,062 shares in issue and the average daily traded volume is 4,657,725 shares. The market capitalisation of Aminex Plc is £28,236,799.98.
06/6/2022
16:05
888icb: Looks like a rise back above 1p is underway as we await the seismic results which could land any day now. Infrastructure announcements on Pipelines are imminent says the President of Tanzania just as a very favourable report on the future value of AEX is published. The broker report is looking at a 30 bagger to 100 bagger depending on the drilling in November. Make your own mind up on how they arrive at their figures but there can be little doubt that AEX is worth many multiples of its current share price and market cap of just £36 million.
06/6/2022
13:41
pro_s2009: It is ten years since former Aminex boss Brian Hall originally hit part dirt in the Ruvuma licence in Tanzania, when he took on sole risk after Tullow Oil pulled out of a 50/50 deal on the licence, discovering a secondary target flowing gas at 20 million cubic feet a day. Hall followed this up five years later in 2017, when he drilled the second well, Ntorya- 2, that encountered a significant 51 metres of gas bearing sands, which in turn flowed at a rate of 17 million cubic feet a day, through a restrictive choke. Today, there has been little sign of real progress but a drill planned for November could change things very quickly. Since then, there has been a lot of coming and going with JJ Bhaattacharjee, who came on board as CEO in 2014 to develop this gas field, jumping ship in May 2019. This was surprising, given that Hall had retired as chairman in August 2018 After the big discoveries, the plan was to drill a four-mile step-out well to prove up this estimated near two trillion cubic feet gas field. This crucial well is finally set for drilling in months. - November 2022- and should prove up the full extent of this field. Significant reserves have already been identified on foot of this first two wells, but if the new source is a success, this could turn out to be a bigger field than anticipated. It is difficult to know what has taken so long to move things along, with Hall having raised $25 million after the first successful well, and the sultanate of Oman put up $17 million through Zubair Corporation to land a 28% shareholding. This funding paid for the second well and was so successful that it should not have been difficult to raise funds to build the third well. Just before Hall exited in August 2018, he secured the future of Aminex by farming out two-thirds of the company's 75% stake in the Ruvuma gas field, although this deal looked a bit too cosy, involving a farm-out with ARA Petroleum Tanzania (APT), a subsidiary of Zabair Corp which is, in turn, controlled by the Sultanate of Oman. The deal, nevertheless, looks sound in that APT is committed to drill not only the third planned well, called Chakumbi -1, but to fully develop the field and commit to spending $140m and pay £5m to Aminex upfront. This valued its carry for Aminexat £35m. Without having to pay a cent more, Aminex will benefit for a cost-free 25% interest in the development of this field It was only in October 2020 that the farm-out deal with ARA was finally completed. It was not helpful that the president of Tanzania, John Magufuli, ran what was a semi-dictatorship. The Covid-denier eventually contracted the virus and died in March last year, resulting in his deputy, Samia Suluhashassain, taking over the hot seat. She has claimed she will not as autocratic as her predecessor, and plans to open up Tanzania to foreign investment and develop international relationships. On the surface at least, this should only be good for Aminex. Recent financing activity has been hard to understand however. In his review in the 2020 annual report last year, executive chairman, Charles Santos, describing the APT deal, said: " This transaction should see the company entirely carried to material levels of production and revenue and without the need to return to shareholders for any additional funding for the development of the Ntoya location." That deal left Aminex without any borrowings and net cast of $0,4m at year end, while the company had also committed to reducing overheads because it was no longer activity engaged in the big Ruvuma gas field project Moreover, a long running dispute with that state's Tanzania Petroleum Development Corp over gas sold from the Songo Island offshore field ended with a 1.85m pay-out to Aminex (albeit well short of the $8m originally claimed) Nevertheless, in January this year the company raised $4.4m in new equity by way of a placing. This is despite the fact that Santos, has been successful in reducing the less active Aminex's ongoing costs, slashing them from $6m to $1.5 pa - a 75% reduction. Elsewhere, Aminex believes that there are further mineral reserves yet untapped in the Kiliwani gas field offshore. Tanzania and the area is now the beneficiary of a significant 13sq km new 3D seismic survey over this field, and an adjoining one, carried out by Pan African Energy Tanzania (PAET) Aminex has no plans to go back in and redrill its prospects here, but, if this seismic survey shows up anything exciting, the company will negotiate a further farm-out deal with PAET to develop the Kiliwani gas field Separately, onshore in the big Ruvuma gas field, Aminex's farmout partner, APT is now completing its own 3D seismic survey over the whole field and is committed to drilling and testing the four-mile step-out well. On foot of this survey, APT, will then format a field development programme for the Ntoya gas field If Chikumbi -1 shows up anything like the 20 million cubic feet a day demonstrated on Hall's first well, then rather than the estimated 1.87 trillion cubic feet of gas that RPS Energy previously estimated to be in the field, on foot of the first two wells, the total could be closer to six trillion cubic feet. Significantly, oil prices are back up at more than $100 a barrel and gas prices have been pulled up as a direct result and are likely to stay high, given the increasing commitment of the US and EU to gradually reduce and eventually ban all use of Russian gas and oil, no matter what happens with the war in Ukraine. Previously, the estabished gas in Tanzania was $3 per 1,000 cubic feet but the going rate today is more like $10. If the step-out well drill is successful and APT proves up anything like a six trillion cubic feet gas field, with a 50% recovery rate, this would make this field worth a gross of £30bn and Aminex's 50% $7.5bn This gas field is right at the end of a 300-mile 36-inch gas pipeline that goes all the way up to the capital city of Darsses Salam and connects up to a big power plant there, passing through a big ceramics factory and a cement plant adjacent to the field. Therefore, development of the field will not have to wait for any new pipeline infrastructure, and gas will be able to flow immediatly. Aminex shareholders have had a awful time. Hall did an impressive job developing gas field in Russia in the 1990's before eventually selling out under duress for $20m. More recently, the company discovered the small Kiliwani gas field, before the two big onshore gas wells were drilled The share price hit 17p in the late 1990s and fell back to 10p in the early noughties, before briefly hitting another peak of 41p in 2006 on expectation of the drill offshore Tanzania. After Hall's first success onshore Tanzanai in 2012, the shares recovered again, this time to 7p but have never regained this level and now trade at a little less than 1p, at which the company is capitalised at £32m Assuming the onshore drill in November shows recoverable reserve of up to three trillion cubic feet of gas as forecast, then, Aminex's net share of revenue, before the government takes its taxes, of course, would be a gross £7.5b Even if half of this is accounted for by production costs and royalties, this would make Aminex shares worth about £1 each, 100 time the price they are trading at currently. This looks like a very wide gap and could close very rapidly if the step-out well drill delivers on expectations. If it doesn't, the existing discovery proven up by the two successful gas wells already drilled would equate to an equivalent gross value of the field of $2.5bn. Again, assuming 50% is spent on production costs and government levies, this would leave the shares worth 30p The unfortunate Aminex shareholders will be keeping their figures crossed that they eventually get some real good news.
02/4/2022
17:09
haggismchaggis: As per the buying on Friday, demand is strong already, which makes sense when PI's, Fund Managers, ii's, HNW and UHNW all know that AEX now has only negligible risk of any fund raising between now and the end of 2024, it cannot get any safer than this as far as cash levels and potential future dilution go. Also, the same people should know that AEX will see CH-1 and at least a couple of other wells drilled between now and end of 2024, one each year would be 3 as a minimum, but with good planning and organisation (which APT appear to have mountains of) it could easily be a few more. Each well adding to the level of production when it starts at end of 2024 will increase the AEX share price. Once the placing overhang is cleared (the reason the stock bashing con men are on here lying about AEX and trying to sow doubt and fear) then the share price will shoot up, but in the meantime it is a big opportunity to average down and load up on the cheap stock, as it's never going to ever be this cheap again. The drillable months are more than some think: "The different seasons in Tanzania are : the dry season, the short rainy season, a new dry and hot season and finally, a long rainy season." The dry season. From June to October, it’s winter in Tanzania, we call it the dry season. It hardly ever rains and the temperatures are pleasant. The weather is warm but you don’t suffer from the heat. The short rainy season often takes place in November and early December. It’s summer in Tanzania and it’s getting very hot. It rains especially at the end of the day but it does not rain as hard as during the long rainy season from March to May. The advantage of going to a safari in Tanzania during the short rainy season? Less tourists and amazing colors. The hot and dry season runs from December to February. It can be hot, very hot, especially towards the coast. It hardly rains. Not advised if you generally suffer from the heat. The long rainy season runs from March to May. It rains often and it is a bit less warm, but this to my opinion, not a reason not to visit Tanzania at that time of the year. Indeed, you are almost alone on the roads as most tourists do not come during this time of the year ! Another very important reason to visit Tanzania during the rainy season is that you also have more chances to see zebra and wildebeest in the Serengeti National Park. Some parks are difficult to access because of the rains, but our guides know where to go! If you love adventure and authenticity: Tanzanian nature is beautiful during the rainy season.
02/4/2022
16:30
haggismchaggis: If AEX are going to get the loan off APT to do the KN-1 workover, we will know about it in the next few weeks, as they will have to announce it soon if they want to do it this Year. As for how risky KN-1 is to get back online, AEX have been planning to do it for a long time, so the experts, those in possession all of the technical information on the well, must consider it worth doing. We got 6.5BCF from the compartment in the upper perforated region. There is still a lot more gas down there, and the lower compartment is untouched, hence why AEX considered it worthwhile tapping. "As a result of reservoir pressure decline and compartmentalisation, the Kiliwani North-1 well has not produced during the period. The well has produced approximately 6.5 BCF of gas to date, from a compartment estimated to contain approximately 10 BCF. Estimated gas resources have been independently audited by RPS, who show the Kiliwani North structure to contain approximately 31 BCF (gross mean GIIP)." And AEX DID use the receivables as a bargaining chip for getting KN-1 back online. The Gov't paid up, so the Gov't would EXPECT AEX to get KN-1 back up and running, this may also be covered by the demand for gas within 18 months. "Aminex has also communicated with the TPDC that it will not commence any remediation programme until the long outstanding receivables for previous gas sales are resolved (see Note 10)."
01/4/2022
15:24
zendo102: haggismchaggis - The share price will only drop if the market doesn't think the company can usefully employ the additional capital productively. So, if you like, the "obvious reason" for the drop is that the market thinks this share dilution stinks and the cash raised will be frittered away unproductively (for example on salaries) rather than be accretive to the company. If the placing was to fund expansion, then the share price could easily rise. Let's look at the raw facts: Before the placing I had a larger share of a company worth £38.9 million. After the placing, I have a smaller share of a company worth £31.3 million. (Remember too that the share offering was below the market price - another gift to the large shareholders.) I'm not sure why you are trying to suggest that this is all completely normal and not small shareholders having objects shoved ungracefully up their rear ends.
01/4/2022
14:59
haggismchaggis: So, now AEX has enough cash to last to end of 2024, where does that leave KN-1 workover, bearing in mind the Tanz Gov't need Gas ASAP and have put operators under pressure to deliver it? I still think AEX could borrow the $1.7m they had lined up. The work can be done in this dry season, and production up and running by year end. This way AEX would only need to pay up to 7 months of interest payments before Gas sales resumed, and presuming quarterly Gas payments, about a Year before revenues then started covering the repayments and interest. APT might have wanted AEX to have the funds to cover operations through to Gas sales on CH-1 before they lent AEX the $1.7m for KN-1 workover, hence the placing was done now.
28/3/2022
13:36
haggismchaggis: Posted by me on the LSE BB in February:haggismchaggis118 Feb '22Posts: 4,509Price: 0.875PageofCups,Well argued points! I think Crusty has been here so long that he's become the eternal pessimist, the Victor Meldrew of the AEX BB. Not that it bothers me, as there's good reasoned and well informed argument coming from the other side.As I said at the start of this thread, I'm sure AEX will be looking at reworking KN-1 in the summer, whether it happens we'll have to wait and see, but CH-1 won't be a producing well for some time (presuming it is drilled successfully in Q3), as the connecting pipeline will need to be built, so I see KN-1 as essential to the Tanzania Government. I'm also sure that in the discussions over owned monies, AEX made KN-1 a bargaining chip, and the Tanz Govt paid up with, I believe, a verbal agreement that AEX would get KN-1 up and running as soon as they can. As you said, they need approval, and that could land any day. Now that the O&G Govt bodies have been kicked into shape, I think we could see that approval in time to AEX to organise the work to take place in the upcoming dry season between May and November.Just read the below announcements in chronological order a few times and it seems obvious that Tanz Govt want KN-1 up and running, AFC used it as a bargaining chip and won, on the basis that AEX get it up and running as soon as approvals land on their desk. Also it is clearly 'low cost', and AEX scooped $1.85m from the monies owed settlement. $1.85m for the work would not be low cost when you compare it to drilling costs, it should easily be affordable and I'm also sure that being 'low cost' the partners will have no problem funding it, because they know that with gas sales they will get that investment back very quickly.30 June 2021. The Company continues to explore the opportunity through remedial work to restart production from our Kiliwani North well. We, therefore, continue to see value in Kiliwani North through a low-cost remedial work programme. However, no work can progress on Kiliwani North until resolution is reached on the Kiliwani North receivables.15 October 2021 Payment of Kiliwani North Gas Receivables. As previously announced, the Company and the TPDC have been engaged in constructive negotiations over the last few months which have resulted in an agreed settlement.18 November 2021. Receipt of Kiliwani North Gas Receivables. US$1.85 million. (paid within 3 days when they had up to 30 days, pretty much unheard of in Tanzania to be paid this quickly).
08/3/2022
09:26
haggismchaggis: AEX had an option (RNS 30th Sep 2021) for a loan from APT of $1.7m, this was stated (RNS 15 October 2021) two weeks before the Tanz Gov't paid up the money they owed AEX (giving AEX $1.85m). I therefore see it as an option for AEX to borrow that $1.7m from APT to do the Kiliwani workover with. If I were AEX I would wait for the results of analysis of the 3D Seimic over the main CH-1 area, and subsequent choice of drilling location, and for APT to get moving with the rig deployment before taking up the loan, so as to minimise any risk to AEX of delay on that. Also, AEX do not need to borrow the money until May, in order to have the workover done during the dry period, which starts at the end of May. So, leaving the loan to the last minute means no paying interest on the money when nothing is happening on the ground. AEX could also use the same contractors that are doing the CH-1 work, as they will be nearby at the time.
25/2/2022
11:09
mynameiskhan: I'll not argue with anyone. However, I just want to add: AEX have drilled two wells & both have hit significant gas discoveries. AEX have cornerstone investor (Zubair group), with 30% holding in the company.Aex is fully carried till production by ARA. There is no risk of dilution. Aex assets is technically low risk, amid two major discoveries. And 3D will further derisk & upgrade numbers.According to ARA, internal estimate of Ntorya is over 5 TCF gas, which if converted into $, this May worth over billion net to AEX (25% of 5 TCF is over 1 TCF recoverable gas to AEX)
18/2/2022
19:36
haggismchaggis: I'm sure AEX will be looking at reworking KN-1 in the summer, whether it happens we'll have to wait and see, but CH-1 won't be a producing well for some time (presuming it is drilled successfully in Q3), as the connecting pipeline will need to be built, so I see KN-1 as essential to the Tanzania Government. I'm also sure that in the discussions over owned monies, AEX made KN-1 a bargaining chip, and the Tanz Govt paid up with, I believe, a verbal agreement that AEX would get KN-1 up and running as soon as they can. As you said, they need approval, and that could land any day. Now that the O&G Govt bodies have been kicked into shape, I think we could see that approval in time to AEX to organise the work to take place in the upcoming dry season between May and November. Just read the below announcements in chronological order a few times and it seems obvious that Tanz Govt want KN-1 up and running, AFC used it as a bargaining chip and won, on the basis that AEX get it up and running as soon as approvals land on their desk. Also it is clearly 'low cost', and AEX scooped $1.85m from the monies owed settlement. $1.85m for the work would not be low cost when you compare it to drilling costs, it should easily be affordable and I'm also sure that being 'low cost' the partners will have no problem funding it, because they know that with gas sales they will get that investment back very quickly. 30 June 2021. The Company continues to explore the opportunity through remedial work to restart production from our Kiliwani North well. We, therefore, continue to see value in Kiliwani North through a low-cost remedial work programme. However, no work can progress on Kiliwani North until resolution is reached on the Kiliwani North receivables. 15 October 2021 Payment of Kiliwani North Gas Receivables. As previously announced, the Company and the TPDC have been engaged in constructive negotiations over the last few months which have resulted in an agreed settlement. 18 November 2021. Receipt of Kiliwani North Gas Receivables. US$1.85 million. (paid within 3 days when they had up to 30 days, pretty much unheard of in Tanzania to be paid this quickly).
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