BarleyBaron
08 Nov 2017
Re: Malcy Evening RichardLY. (I make no comment.... DYOR). If you had a comment or two to make about what's going on, would appreciate hearing them. Good or bad, want to hear all views. Still very busy so cant respond until late evening. Thanks in advance (if you comment that is, no rush)Baron.
Doodlebugger
07 Nov 2017
Old news from the Bounty Website [link] the shut in/pressure issues building during September. Bounty’s share of production (10%) for July, August and Sept was 73,549mscf total implying a total production rate for the field of 8Mscf/d and a income to Aminex of around $450k/month for the periodThe report then states the following:Significant Activities during theQuarter (July to Sept)Production was curtailed during thequarter due to plant maintenance,pressure declines and down holepressure testing.Production from KN 1 in September2017 was 7 mmcfdSignificant Activities Next Quarter (Oct to Dec)Ongoing pressure monitoring andreprocessing of Kiliwani North 2Dseismic data will be completed inDecember 2017I guess they are reprocessing the seismic to try and find the faults that are causing the compartmentalisation (that they didn’t see the first time round?) and trying to determine if any of the other compartments that they may recognise contain enough gas to warrant either side tracking or drilling a new well. Whatever, going forward the income stream appears weak
ybhere
06 Nov 2017
Aminex CEO video Stock Tube [link]
RichardLY
06 Nov 2017
Malcy Malcy blog today (I make no comment... DYOR!)."AminexAEX 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…"
Jay053
06 Nov 2017
Kiliwani North Operations Update Kiliwani North Operations Update Production from the Kiliwani North-1 well is currently fluctuating below 1 million standard cubic feet per day due to low reservoir pressure and inlet pressure restrictions of the gas processing plant. A review of the existing technical data leads the Company to conclude that Kiliwani North-1 is currently draining a compartment within the greater Kiliwani North structure and is exhibiting slow recharge across faults or via tortuous pathways.The Company is in advanced discussions with the Tanzania Petroleum Development Corporation ('TPDC') to lower inlet pressure at the gas processing plant and for the installation of compression facilities so as to boost production rates. Suitable compressors are currently being sourced. As previously advised to shareholders in the 2017 Half Year Report, there may eventually be an adjustment to the carrying value of the Kiliwani North asset, which the Company does not at present expect to be material. Following drilling of the successful Ntorya-2 appraisal well earlier this year in the Ntorya gas field, which management estimates has a Pmean gas initially in place of 1.3 TCF, the Company has commissioned a new independent report on all its Tanzanian resources which is due to be completed in early 2018.Information contained within this announcement is deemed by the Company to constitute inside information for the purposes of the EU Market Abuse Regulation No. 596/2014.Aminex is debt-free and its cash balances are in line with the figures reported in the 2017 half year report with ongoing operations supported by gas sales revenues, due and being settled on a monthly basis.
Doodlebugger
06 Nov 2017
RNS, KN-1 falling over Guess we know the answer to the reservoir issues nowGuess Jay was rubbing shoulders with all those fella’s in Cape Town and comparing production flow issues…Be lucky to get off 12% down…
ybhere
05 Nov 2017
O/T Saudi anti corruption Morning all,Slightly O/T, further to anti corruption measures in Tanzania and Oman, the latest from Saudi Arabia. The bottom line being, no one is above the law no matter how high up you are in the Establishment. 11 Saudi Princes arrested, so woe betide anyone lower down the pecking order.New York Times ArticlePrince Alwaleed bin Talal, one of the world’s richest men, was reportedly arrested in Saudi Arabia on Saturday. Saudi Arabia announced the arrest on Saturday night of the prominent billionaire investor Prince Alwaleed bin Talal, plus at least 10 other princes, four ministers and tens of former ministers.The announcement of the arrests was made over Al Arabiya, the Saudi-owned satellite network whose broadcasts are officially approved. Prince Alwaleed’s arrest is sure to send shock waves both through the kingdom and the world’s major financial centers.He controls the investment firm Kingdom Holding and is one of the world’s richest men, owning or having owned major stakes in News Corp, Citigroup, Twitter and many other well-known companies. The prince also controls satellite television networks watched across the Arab world.The sweeping campaign of arrests appears to be the latest move to consolidate the power of Crown Prince Mohammed bin Salman, the favorite son and top adviser of King Salman.At 32, the crown prince is already the dominant voice in Saudi military, foreign, economic and social policies, stirring murmurs of discontent in the royal family that he has amassed too much personal power, and at a remarkably young age.The king had decreed the creation of a powerful new anti-corruption committee, headed by the crown prince, only hours before the committee ordered the arrests.Al Arabiya said that the anticorruption committee has the right to investigate, arrest, ban from travel, or freeze the assets of anyone it deems corrupt.The Ritz Carlton hotel in Riyadh, the de facto royal hotel, was evacuated on Saturday, stirring rumors that it would be used to house detained royals. The airport for private planes was closed, arousing speculation that the crown prince was seeking to block rich businessmen from fleeing before more arrests.Prince Alwaleed was giving interviews to the Western news media as recently as late last month about subjects like so-called crypto currencies and Saudi Arabia’s plans for a public offering of shares in its state oil company, Aramco.He has also recently sparred publicly with President Donald J. Trump. The prince was part of a group of investors who bought control of the Plaza Hotel in New York from Mr. Trump, and he also bought an expensive yacht from him as well. But in a twitter message in 2015 the prince called Mr. Trump “a disgrace not only to the GOP but to all America.” YB
Doodlebugger
03 Nov 2017
Re: This Just been quiet these last few months BB, a little bit like the oil sector in general. Might get round to writing something about Oman and its gas and Zubair. I worked there for seven years the second time and have fond memories of the placeOil exploration continues dire. I was off for three months recently whilst the current contract was put on hold – a sign of the times. Thankfully it’s been resurrected so it’s back to work this last month, but most of my seismic colleagues are at home, as they have been for nearly 3 yrs now, many staring retirement in the faceNice to see it touching 4p, 6p on the news of a development plan?
BarleyBaron
01 Nov 2017
Re: This DB. I did, am trying really hard to be disciplined and stick to my targets. Its not easy. I've a friend who's in the building trade and lives in Dar. She tells me building projects are growing quickly, but mainly pre development. Growth will come but Tanzania does what Tanzania does to get by. The Tanza Gov and big boys know they have assets galore but have not really earned any golden stars by their recent behaviour towards mining companies. Our gas is there ready and waiting but cant be used in quantity yet because growth has not caught up. Our sales will climb but slowly. Its looking good for Tanz and us but as you said there's others selling too. We are a slow burner.Not sure about Malcy but I hear the conference was well attended which is a good sign.I'll have a gander with my mate about your other points. Good to know the local gossip, even though it does not concern you.You've been quiet, nobody annoyed you these past few months.?? B.I do hope our 25 year contract to supply is not all inclusive to Tanz and not at a fixed rate. I'd love to see the exit of contract penalty rate. I have faith that it is fair and flexible but a lot can change in Africa very quickly.
Doodlebugger
01 Nov 2017
This & that Hey BB,Was meaning to drop you a line for a while, you had just bought in before the last rise to 4.8p, did you manage to take a few £ off the top?As for the 15mmcf/d prod. As I understand it the Tanzanians can take up to that amount without a payment guarantee being in place, but if they want more then the guarantee needs to be in place? If that was the case is it still the case? Whilst that may have peeved Aminex at the time, what’s the status now with the well? I remember it had flow issues and investigation/ maybe remedial work was proposed. If required did that take place? Was it successful? If not Aminex won’t be in a hurry to supply a production increase they don’t have? In the meantime any production increase to30mmcf/d to Aminex seems to have gone to Wentworth who are reporting an increase (of around 20? from 40 to 60 mmcf/d?) I think they have the capacity to turn the taps on even more to around 100mmc f/d after which new supply is needed. Hopefully that’s when Aminex’s new field can kick inSo we’re all waiting for the production plan. And also the next well. The rumour on the industry street is that bids are being asked for for a “3D over Ruvuma starting next June”. Whilst Aminex is not mentioned if it is them it would imply either the 3D before they drill the next well or before they drop in some production wells to go with the production work application? All speculation but if it moves into news then the share price should reactElsewhere in Tanzania there’s an offshore/land survey about to kick off around Pemba and Zanzibar. The usual delays due to permissions/autonomous government issues. But if it goes ahead may free up that area offshore Zanzibar and Pemba for further exploration– Shell had a bunch of offshore blocks there that weren’t being progressed as they were in some sort of lock down due to the Zanzibar autonomous government issuesAnd Dodsal with the gas find in the concession near Dar were also rumoured to be doing some seismic. I need to ask around when its starting/has startedDid Malcy write anything re the Cape Town Conference and Aminex? I didn’t see anything – maybe no new news yetAll the best, DB
BarleyBaron
30 Oct 2017
Re: Revenue Stream YB. Crossed wires. I want more noise, more mucking about, less technology. We are turning into 'mind controlled zombies.' One example.... This smart meter thingy called Hive, switch your heating on from your phone.... all the stuff you have to buy just to be able to achieve that when a £25 timer from b+q will do. We are so lazy and wasteful.UKOG... In at 4.2, left it far too late. A rollercoaster ride if I may say so.FRR... In at .34. Promised myself not to go there but the lure is strong. Being very disciplined with this one. But I am getting concerned about a correction before Christmas. Oil and Gas sectorwould be a very rapid faller. There are some tough times coming for a few market sectors. Sorry, letting off some steam.. frustrating weather too.Baron.
ybhere
30 Oct 2017
Re: Revenue Stream Afternoon BB,Sounds like you need a large shed at the bottom of the garden for either you or the kids. Luckily I'm spared that.Must admit, the AEX SP a bit disappointing though I'm still in profit. Decided to top slice last week and transfer some of the funds over to UKOG. Some good news imminent, I hope. Then may switch back to Aminex.Ear defenders are good n cheap, or splash out on some Bose.YB
BarleyBaron
30 Oct 2017
Re: Revenue Stream That was quick YB.Thanks for that. Missed the Sept report, really should pay more attention.Had to ban all iPads , phones etc as some in the B household were being naughty. Been 3.5 weeks now and the noise level is back. Nearly banned Christmas last night, now that got their attention. Plays havoc with my posting though, don't want to be the first one caught. Am not liking the ever declining sp. We need more than gas sales to stimulate this sp.Thanks again for the refresh.Baron.
ybhere
30 Oct 2017
Re: Revenue Stream Afternoon BB,from the Sept Report,The Kiliwani North-1 well continues to provide positive cash flow and averaged approximately 15 MMcfd duringthe first six months of 2017. The gas is sold and paid for in US Dollars and the current gas price is $3.27 Mcf(based on $3.00 per mmBTU, annually adjustable through indexation): the contract price is not affected bymovements in global markets for oil and natural gas. Although some delays in payment were experienced earlyin the year, regular payments have been received from the TPDC in recent months. YB
BarleyBaron
30 Oct 2017
Re: Revenue Stream MacP.Good morning. Hope you can refresh my memory.We sell our gas at a fixed rate of $3/.....?How long does this agreement last, is there any scope for lifting this rate if the price of oil and gas surges forward. Thanks in advance.Baron.
