Armi
03 Oct 2017
Re: What don't I know? I'm not a sceptical man but I suspect the MM are improving their holding in preparation for when this does realise it's full potential.Not many companies can say debt free with revenue and an obvious future income.
walrog
02 Oct 2017
What don't I know? I keep thinking what don't I know about this share? The sp slippage does make me nervous, but I continue to be a LTH.More positive news soon please, and then we may see a change of sentiment.ALBWR
ybhere
29 Sep 2017
Re: Half Yearly Report Morning MAL and Jimia,If the SP does drift before the 25 year licence is granted, it will probably be a good time to buy in or top up. Granting of the licence should, I would have thought, be a mere formality for a country which is reliant on energy imports and where a large proportion of Tanzanian people are not even connected to the Grid not to mention, the potential to become an energy exporter earning billions for the economy.Just my view. I topped up yesterday but, as usual, DYOR.YB
MALBRAD
28 Sep 2017
Re: Half Yearly Report JimiaThank you. On checking I agree with your reading of the text. it would fit in with Aminex doing very little until the 25 year license is granted and will probably mean that the share price will drift for a while for lack of news.MALBRAD
Jimla
28 Sep 2017
Re: Half Yearly Report Hi MALBARD,I read it differently, that in Q4, AEX will only deliver a date that N-3 will be spudded, not that the actual spud will happen:"The development plan is subject to the review and approval of the Tanzanian authorities and the Company will provide an update on this and the timing for spudding the Ntorya-3 well during Q4 2017"Regs,Jimla
ybhere
28 Sep 2017
Re: NEW ARTICLE: The Oil Man: Victoria Oil, ... Malcolm Graham Wood, 'The Oil Man' posted on the News above,This year has been good for Aminex (AEX) and, with gas production of 15 million cubic feet per day expected to rise after further exploration success at Ntorya, the outlook is also very positive.Resource estimates for the Ntorya field are now 1.3 TCF and development plans have been submitted along with application for a development licence. The company has paid down its debt, has net cash of $6.91 million (£5.17 million) and highly supportive shareholders and so the outlook looks pretty good to me.YB
II Editor
28 Sep 2017
NEW ARTICLE: The Oil Man: Victoria Oil, Jersey Oil, Aminex, Cabot "WTI $52.14 +26c, Brent $57.90 -54c, Diff -$5.76 -80c, NG $2.97 +6cAt last the price divergence between WTI and Brent is starting to narrow as we head towards the month and quarter-end along with Brent expiry. This was mainly to do with the EIA ..."[link]
Jay053
28 Sep 2017
Re: Half year reports markets reaction High cash burn.Killiwani pressure is still a problem even after the shutdown.No news on development plan, or NT3Nothing groundbreaking
MALBRAD
28 Sep 2017
Re: Half Yearly Report The key bits of hard new information are confirmation that N3 will be spudded in Q4 (results early 2018?) and that we have $6.91m in cash. Further exploration and development of what we have already found will need capital expenditure in 2018 and beyond. KN is only a modest earner and may be out of use whilst testing is done to try and sort out pressure issues, so will not help very much with funding capital expenditure. Likewise whilst we may be able to fund some capital spending via borrowing or selling a portion of the portfolio, it seems reasonable to assume that a share issue will be needed next year. In turn this raises the issue of share consolidation to help attract institutional shareholders and the inevitable flood of bb postings claiming that the share price is being held down to make a placing easier. Hopefully existing shareholders might even get a look in. Let us hope that Aminex let the share price r fleck the hopefully successful outcome of N3 before raising more capital.
model money
28 Sep 2017
Re: Half year reports markets reaction Killiwani reduction in pressure probably?
ybhere
28 Sep 2017
Re: Half year reports markets reaction Just topped up. It could fall further but, at these prices, worth a topping up punt. Seems good to me.YB
NORFOLK IN CHANCE2
28 Sep 2017
Half year reports markets reaction Albeit I have not read the half year report in great detail but it seemed mostly positive to me....What do the markets not like? Anyone got any thoughts?Cheers
ybhere
28 Sep 2017
Re: Half Yearly Report From the Solo RNS also out this morning,Highlights: Tanzania· Ntorya-2 appraisal well was drilled and successfully flow tested during the period and has been suspended for future gas production· At Ntorya-2 a total 51 metres gross sandstone reservoir section was encountered 74 metres shallower than in Ntorya-1· A restricted test flowed at 17 mmscfd of gas (equivalent to approximately 2,830 boepd)· Unrisked gross resource estimates for the Ntorya appraisal area increased to 1,344 bcf Pmean GIIP· Solo now holds net resources of approximately 335 bcf Pmean GIIP in the Ruvuma Basin, which the Company estimates to be in excess of 200 bcf (35 million barrels oil equivalent) of contingent resources, net to its 25% interest· io oil & gas consulting, a Baker Hughes (a GE Company) and McDermott joint venture, were appointed to prepare a gas commercialisation study to assist with the development of the Ntorya field· A Development Plan for the Ntorya gas condensate field was submitted to the Tanzania Petroleum Development Corporation ("TPDC"
for approval during September 2017· Average production from Kiliwani North-1 ("KN-1" was approximately 15 mmscfd for the first half of 2017· KN-1 gas is sold and paid for in US Dollars and the current gas price is $3.27 per mmscf, a contract price that is not affected by movements in global markets for oil and natural gas· Solo acquired a 10% interest in Helium One Limited during the period as an early entry opportunity into the what is estimated to be a US$6bn/year global helium market· Helium One's Rukwa Project in Tanzania is independently estimated by Netherland, Sewell and Associates Inc. ("NSAI" to contain unrisked most likely prospective recoverable helium volumes close to 100 bcfYB
ybhere
28 Sep 2017
Half Yearly Report Aminex CEO, Jay Bhattacherjee, commented: A couple of paragraphs from the Report."We are pleased to report to shareholders a return to profit during the first half of the year. During 2017, Aminex successfully drilled the Ntorya-2 appraisal well, which tested at approximately 17 million cubic feet per day, increased management's estimate of the Pmean unrisked resource estimates for the Ntorya field to approximately 1.3 TCF and submitted a development plan for, together with the application for, a development licence over the Ntorya field. The Company also repaid all of its outstanding corporate debt so that it is now a debt-free company. With this base, the Board believes the Company is well placed to build on success."Profit for the period was $1.01 million compared to a loss of $2.45 million for the six-month period ended 30 June 2016. A commentary on the results is provided in the Financial Review section below.YB
ybhere
26 Sep 2017
Re: Support & Resistance Morning Eric,A book I was recommended a few years ago on another Discussion forum was Stan Weinstein's 'Secrets for Profiting in Bull & Bear Markets. Amazon have the book with varying prices £10 to £15.It's a bit dated, published in 1988, but the fundamentals are there which haven't changed. .There's some interest shown this morning and a look at the Advanced Chart above, show the SP riding, as I put it, the 30 day MA. As mentioned in the last update News release:- ' The Development Plan is now subject to review by the Tanzanian authorities and the Company will provide an update on this and the timing for spudding the Ntorya-3 well during Q4 2017.'Q4 starts next week. YB
