Seagull2
27 Apr 2018
Re: RNS PRELIMINARY RESULTS, iii not sho... 'The well planning for Chikumbi-1 is at an advanced stage and we are in discussions with the Zubair Corporation for a possible farm-out of part of Aminex's interest in Ruvuma.'
ybhere
27 Apr 2018
Re: RNS PRELIMINARY RESULTS, iii not showing... The Preliminary Results and future plans must be very good. The SP has dropped.YB
Jay053
27 Apr 2018
RNS PRELIMINARY RESULTS, iii not showing as usual. [link]
Jay053
23 Apr 2018
Tweet The #Ntorya appraisal has had a 12-fold increase in Mean GIIP since the original CPR in 2015. #Chikumbi-1, recently renamed from in honour of the village nearest to the well, will further test this nationally important field. #Aminex
clottedScream
23 Apr 2018
Where is the news? Why up over 9% so far today? Jay053, you are very quiet, something your not telling us?News on farm out, or licence perhaps?
ybhere
09 Apr 2018
Re: RNS The first point in todays RNS is:- The Company continues to be in advanced discussions for a farm-out transaction at Ruvuma, including the Ntorya appraisal area, with an affiliate of the Zubair Corporation, as announced on 21 March 2018.The affiliate of the Zubair Corp mentioned on 21st March is Eclipse which is shown under the 'Areas of Expertise' on the Zubair website as Eclipse Investments:- Eclipse Investments LLC is established in Dubai, with an objective to manage Investment related activities in UAE. Equity Investments of regional/international nature are the primary activity of this company.[link] doubt Eclipse will be able to put forward and fast track to AEX any other 'Areas of Expertise' that Zubair can contribute particularly in Energy & Logistics and Engineering, Construction and Contracting.[link]
MALBRAD
09 Apr 2018
RNS Given that N3 (now called C1 presumably) is being drilled to 3,400 meters the opportunity is being taken to supplement an expansion of the N1 and N2 resource by looking for gas or oil at a much greater depth. Presumably this either follows up earlier hints of oil or work on the revised basin model. Given the higher cost of a deep rather than a shallow well I am surprised that we do not seem to have checked out the area with 3D seismic before making the decision. I am also surprised that we have not had an update on remedial work at KN.
Jay053
07 Apr 2018
Industrial driven economy. [link] for Trade, Industry and Investment, Charles Mwijage has said that Tanzania is guided by the Development Vision 2025 and the five-year development plan to implement what it calls an industrial driven economy.0 CommentsThe Minister explained this before Members of Parliament after an opposition legislator queried whether the State’s push for an industrialised economy was “realistic.” Momba MP David Silinde (Chadema) wondered as to when the government will build an industry in his area.He argued that there has not been a positive tie between the private sector and government yet infrastructures including roads and electricity were not ready to accommodate industrialisation. “If I may say the private sector has no capital to invest in these industries,” he claimed. But responding to the query, Mr Mwijage said there was no private sector without the government and vice versa. “We’re all linked.The government does not build industries but private sector does. Our job is to create the needed environment for the private sector to work,” he said. According to the Minister, the government’s envisioned industrial sector growth is centred on the need to transform the country’s economy to a middle income country by 2025.“This is our guidance. We’re also guided by the second five-year development plan and we also follow advice from President John Magufuli,” he said. The 2016/17 to 2020/21 plan was adopted to ensure Tanzania graduate into a middle income country. The government is committed to enact and develop a conducive policy and legal frameworks, infrastructures and strategies to support trade and industry which is the arm or the private sector
Jay053
07 Apr 2018
More gas needed. [link] launches 240 MW power plant in bid to ease shortagesOmar Mohammed3 MIN READNAIROBI, April 5 (Reuters) - Tanzania launched a power plant this week with a capacity of 240 megawatts (MW), part of a plan to end chronic energy shortages in East Africa’s third-biggest economy.The natural gas-powered Kinyerezi II plant, which began operating on Tuesday, was built on the outskirts of Tanzania’s commercial capital Dar es Salaam by Japan-based Sumitomo Corp using combined-cycle technology for 798 billion shillings ($353.72 million).Eighty-five percent of the cost was covered through a loan from a Japanese bank, a Tanzanian presidency statement said.It did not name the bank but Tanzanian newspapers said Sumitomo Mitsui Banking Corporation had provided the loan.“We expect to complete two more projects here in Kinyerezi, which will also employ natural gas and generate 600 megawatts,” Energy Minister Medard Kalemani said, according to a statement posted on the website of TPDC, the national oil company.The government aims to source more of Tanzania’s electricity from natural gas above the current 50 percent, authorities say.Tanzania boasts reserves of over 57 trillion cubic feet (tcf) of natural gas, but faces periodic power shortages as it relies on hydro-power dams in a drought-prone region for about a third of its 1,570 megawatts of installed capacity.Last year President John Magufuli said the country needed to invest $46.2 billion over the next 20 years to revamp its ageing energy infrastructure and meet soaring electricity demand.Investors have long complained the lack of reliable power hurts business there.Tanzania plans to boost power generation capacity from around 1,500 MW currently to 5,000 MW over the next three years, according to the country’s energy ministry.It is aiming to launch construction of a $2 billion hydroelectric plant at Stiegler’s Gorge in July that will produce 2,100 MW upon completion in three years time.The government is working on two more projects in Tanzania’s south that would generate 620 MW on completion, Kalemani said.TPDC said it plans to help unlock more natural gas both for power generation for homes and businesses and for distribution directly to industries for use as a source of energy. ($1 = 2,256.0000 Tanzanian shillings (Reporting by Omar Mohammed with additional reporting by Fumbuka Ng’wanakilala Editing by Aaron Maasho and Mark Heinrich)
El Gibbo
06 Apr 2018
Re: doesn't look good Pretty much sums it up Doodlebugger - thanks. Jay is keeping a low profile these days. Is he still at the helm? JMO.
clottedScream
05 Apr 2018
Where is Jay? About time there was some 'real' news here. Jay053, bring us up to date, what is your take on how much longer the licence will take? Anything other than gas in the pipeline?
Doodlebugger
05 Apr 2018
Re: doesn't look good No meaningful production and no approval for the development plan would look like the main reasons for the share price driftIt’s been 14 months since Ntorya-2 came in in Feb 2017 (so much for dropping a pipeline in and getting producing within months)Various tit-bits have been fed the shareholders way to keep them interestedThere was the “updating the basin model” which went on for months. I guess it was updated but to what I don’t know, was there the possibly of deeper oil? If so what came of that? Is that why it’s taking so long to drill the next well, because a bigger rig is needed?Then there was the appointment of the gas consultants or whatever – was it Baker Hughes? And then there was talk of cooking gas – which seemed a bit bizarreAnd then the KN-1 production fell over, I assume it’s still lowAnd I guess the development plan has been submitted. That seems to be the big one as approval will lead to a timescale for more money (suggestion for the development plan – drill more than one producer this time…
In the meantime the company looks to be trying to raise funds via farming out part of Ntorya. If successful that would put a price on the asset and should move the share price. If they don’t farm out then they will have to raise funds in an other way? So that’s keeping a lid on the share price until the way forward is determinedAnd the general background is that Tanzania will require more gas but maybe not just yet and what increase they do need is meet from other fields – Wentworth just announced a production increase to 83 MMcf/d. I think they have further upside, to 120? Then they could always drill another well. So with current and a bit of future demand being met some foot dragging over the development license award is ongoing?Until news of the farm out and/or approval of the development plan I guess the share will continue to drift. Any negative news (further issues at KN-1), delay in development plan and expect it to sink lower
Rogadar.
04 Apr 2018
doesn't look good SP performance for the last six month was really disappointing and I cannot see real raison. This applies to all other companies involved in it's Tanzanian's operations.
gone fishin
22 Mar 2018
Dangote [link] to start using gas from Madimba plant.
grukker
21 Mar 2018
perhaps Eclipse know something ? [link]
