El Gibbo
27 Oct 2017
Nytora Field Development Plan Anyone know the contents of the Nytora FDP and when the TPDC will give their verdict on it.Have a good weekend all.
MacPithy
25 Oct 2017
Revenue Stream Recent comments about an optimistic future outlook from an Omani involvement are all well and good but I would much prefer to see more immediate increases in revenue from gas sales of current potential gas production.Any company advice about the gas marketing initiatives delivering some sort of positive increases in revenue would be very welcome if not I think you will see this SP drift lower.
ybhere
19 Oct 2017
Re: Another company falling foul of gov Thanks grukker.More or less confirms my speculations last Thursday. Sultan Qaboos's support for the Tanzanian Government is good, a no nonsense approach with officials toeing the line. The Omani Government having jailed 20 Officials with corruption charges, will know where to look. .As I mentioned last Thursday, with Oman stopping exports of LNG by 2024, just 6 years away, the LNG Processing Plant should be getting the green light with the expertise of the Omani Government via the Zubair Corp playing a major role, not to mention building the Tanzanian energy infrastructure.Just my view.YB
Celticheart07
19 Oct 2017
Jay speaking at Africa Oil Week Thanks to vike over on LSE for this post:Africa Oil Week is on next week, which is a major industry conference, hosted in Cape Town. On Day 4, a panel session entitled 'Developing Gas Resources' will include speakers from our very own Aminex. Could be that Jay is already in TZ this week, so why not pop down for a few days to rub shoulders with the big wigs?[link]
grukker
19 Oct 2017
Re: Another company falling foul of gov Perhaps this lot will sort it out ? ( [link] )
ybhere
12 Oct 2017
Re: Another company falling foul of gov Evening Mac,Corruption seems to be endemic in Tanzania if some Reports are anything to go by. Aminex seems to have recognised this and has a strict anti corruption message on their website.However, the GAN Report states,Natural ResourcesThe mining sector in Tanzania, closely tied to matters over land and investment, is prone to corruption (BTI 2016). Most corruption investigations by the Prevention and Combating of Corruption Bureau (PCCB) have been into government involvement in the mining and energy sectors (HRR 2015). Tanzania's regulatory capacity in the mining sector is undermined by state functionaries who are involved in rent-seeking networks (U4, Mar. 2014). In addition, there is a significant lack of transparency around the confidential Mining Development Agreements between foreign companies and the government, often involving preferential treatment (U4, Mar. 2014).Two former ministers were found guilty of abuse of office in connection with a gold-auditing contract causing the loss of USD 5.2 million of government funds. The ministers were sentenced to three years' imprisonment (FitW 2016). The full Report can be read [link] for Oman, Muscat: There has been a 7.5 per cent decline in the number of corruption cases in Oman in 2016 compared to 2015, the Public Prosecution has said.The move to combat bribery, embezzlement, money-laundering and other suspicious financial transactions comes as a part of Oman’s “war” on corruption which was introduced in June 2015 when the country officially joined the United Nations Convention Against Corruption.More than 20 government officials and private executives from Oman’s oil industry and related sectors have been jailed and fined for offering or accepting bribes in exchange for contracts, mostly in infrastructure projects in the past six years.In 2014, the Muscat Primary Court convicted the former minister of commerce and industry, the undersecretary of the Ministry of Transport and Communication and the Chief Executive Officer of the Oman Oil Company for corruption.[link] Hopefully, with Aminex working closely with TPDC, corruption is minimised.I wouldn't like to go up against Sultan Qaboos and step out of line if I was in Oman and because of Zubair family history, I would suggest, they have a very strong sense of loyalty to the Sultan.YB
MacPithy
12 Oct 2017
Re: Another company falling foul of gov Just out of interest yb how old are you?This company is potentially profitable so long as it's gas production is paid for on time. Expansion of gas production depends on the extension of the risk reward ratio for development costs against demand for gas but as of now the company is still exploring possible markets, which must be local since no export facilities exist and the forecast sales of 30 mcfpd has still not been achieved some months on.So imho this is a slow burn company with some significant political risks.
latecut
12 Oct 2017
Re: Another company falling foul of gov Thank you YB for your very informative posts
ybhere
12 Oct 2017
Re: Another company falling foul of gov Without reiterating in full my previous post, Tuesday 11
2, it could be worth considering the politics.As mentioned in my previous post, the Zubair family because of their current and historic connections with the Sultans of Oman, the Zubair family and the Zubair Group you could say, are operating with the full approval of Sultan Qaboos bin Said al Said.The Politics of Oman takes place in a framework of an absolute monarchy whereby the Sultan of Oman is not only head of state, but also the head of government. Chief of state and government is the hereditary sultan, Qaboos bin Said al Said, who appoints a cabinet to assist him. Sultan Qaboos also serves has supreme commander of the armed forces, prime minister, and minister of defense, foreign affairs, and finance.That said, the 30% investment of the Zubair Group in Aminex, secondly the appointment to the Aminex Board the CEO and the Chief Operating Officer of ARA, a subsidiary of the Zubair Group is worth noting.As previously mentioned, Aminex works very closely with the Tanzanian Petroleum Development Corp through which the Ministry of Energy and Minerals implements its petroleum exploration and development policies.Without formally declaring as such, indirectly, the Government of Oman is via Aminex and the Zubair Group, in contact, perhaps working with, the Government of Tanzania.As announced last year, energy and minerals minister, Professor Sospeter Muhongo, has assured Tanzanians to get ready for the country’s economic transformation. '“I would like to ensure Lindi residents, and Tanzanians in general, that our economy is going to grow at a high speed, we are going to invest at least $30 billion in the construction of a gas processing plant,”He indicated that the project could to take up to 40 months to reach completion. [link] 40 months, say 4 years from start which hasn't happened yet. 2024 Oman will stop exporting LNG. While Oman is currently a large LNG exporter, they also import natural gas through pipeline trade with Qatar. Eggs and basket spring to mind.Oman and the Zubair Group in helping the Tanzanian Government and people improve their lot in the world, will be well placed to reach Agreement for gas exports to Oman. The Zubair Group also has the expertise to advise on building the LNG Plant and gas infrastructure.At least that is my behind the scenes reading of the situation. Almost, if not better, than an MOU between the Government of Oman and the Government of Tanzania. But, as usual, DYOR.YB
ybhere
10 Oct 2017
Re: Another company falling foul of gov Which Company is that, that is falling foul of Government?Aminex is working very closely with the Tanzania Petroleum Development Corporation (TPDC). TPDC is the National Oil Company of Tanzania through which the Ministry of Energy and Minerals implements its petroleum exploration and development policies. [link] recognises the opportunities for corruption and, on its website , Aminex has strict anti-bribery procedures and policies in place and ensures that its employees observe these at all times in carrying out the Company’s business. All employees and consultants are required to confirm their understanding of the Group’s anti-bribery policy.[link] for lack of demand for gas. It may be elsewhere but I can't see it in Tanzania where the country is currently an importer of power & energy with most of the rural population not on the Grid. Tanzania also has the potential to be an exporter of energy whether over the Grid to neighbouring countries or shipping out gas. See below.Interesting to read about Zubair. The success of The Zubair Corporation is largely based on the vision of His Excellency Mohammad Al Zubair, whose values, traditions and entrepreneurial spirit were influenced by his grandfather Sheikh Ali bin Jumah, close advisor to three sultans, and his father Sheikh Al Zubair bin Ali, who served under three Sultans and was Al Katib Al Awwal (First Clerk) to His Majesty Sultan Faisal bin Turki. Today, His Excellency’s seven children are the shareholders of The Zubair Corporation, heading six divisions comprising of nearly 60 companies. Together, they continue driving the business forward, ensuring The Corporation remains a well-established name not only in Oman but throughout the region and internationally. [link] World Energy Council Data on Oman's concludes with the following sentence. Although Oman is currently a net exporter of natural gas, rising domestic consumption prompted Oman to announce that they would divert their exports back towards domestic consumption by 2024.[link] the evidence, it all seems very positive to me. But, as usual, DYOR.YB
MacPithy
10 Oct 2017
Re: Another company falling foul of gov There is a worry that the future governance of Tanzania's mineral assets will be subjected to an asset grab by those in power from their own enrichment actions already initiated have resulted in an exodus or reduction in activity. Along with the short to medium term lack of demand for the gas means that cash flow will be constrained therefore profits will not be exceptional for now.But how long a hold will this be???
Southmead
08 Oct 2017
Re: Non Exec Director Appointments Definitely Ybhere, the Annual Report stated that Eclipse Investments or Zubair had acquired 30% of AEX.'The Zubair Corporation, through its interest in ARA Petroleum LLC (“ARA”
, had identified the long-term potential of our acreage in Tanzania and we have subsequently been pleased to welcome Mr. Ola Fjeld of ARA to our Board'There is no doubt in my mind that ARA Petroleum and messers Al-Ghaithi and Ola Fjeld have been very involved in the submission of the application for the submission of the 25 year development license. That is precisely why Zubair has gotten on board with AEX because they know from ARA experience that AEX is sitting on a fantastic resource.
ybhere
08 Oct 2017
Re: Ntorya Development Plan Good point Southmead,Makes me wonder if this is where the expertise of the Zubair Group was called upon to help formulate the Development Plan in return for the Zubair subsidiary ARA having a 30% investment in AEX and the ARA CEO and Chief Operating Officer being on the Board.[link]
Southmead
08 Oct 2017
Ntorya Development Plan This was in the Financial Report.' A development plan has been submitted and application made to the Ministry of Energy and Minerals for a 25-year development licence for the Ntorya area, which is supported by the TPDC'Will we hear of TPDC approval this week? 'The Company has prepared a programme to re-enter the Kiliwani North-1 well to gather downhole data later in the year and shareholders will be advised accordingly'Will there be an RNS this week?
ybhere
05 Oct 2017
Non Exec Director Appointments The Non Exec Director appointed yesterday is the second from ARA Petroleum, an Energy & Logistics subsidiary of the Zubair Corp. Mr Al-Ghaithi is currently Chief Executive Officer of Ara Petroleum LLC where he is responsible for two subsidiary E&P companies operating in Oman.Mr Ola Fjeld is currently the Chief Operating Officer of ARA Petroleum LLC responsible for two subsidiary E&P companies operating in Oman. So we have the CEO and Chief Operating Officer of ARA Petroleum, a subsidiary of Zubair, as Non Exec Directors on the Aminex Board.The Zubair Corporation LLC of Oman which, through Eclipse Investments LLC, holds a beneficial interest of just under 30% of the Company's issued share capital. The Zubair Corp Energy & Logistics GroupWho We AreThe Energy & Logistics Group of the Zubair Corporation, through its associations, affiliations, joint ventures (JV’s) and wholly owned companies, provides a considerable array of products, services and solutions to both the upstream & downstream sectors of the energy industry in Oman and elsewhere. Of particular note are the Zubair JV’s with significant international companies that bring a wealth of expertise to Oman, while providing significant local content.What We DoThe Zubair Corporation offers considerable support to companies wishing to do business in the Sultanate, such as advising on successful business acquisition strategies, spearheading consortiums and arranging content for large integrated proposals.[link]
