Re: Hopefully news in weekend press. Sorry... WRONG SHARE! MEANT FOR UKOG!
Hopefully news in weekend press.
AEX should do no more than >> invoice for the gas we supply, chase up the late payments and plan the next wells. IMHO NO WAY should AEX sink any major money into Tanzania until things are clearer. The government have effectively broken any contracts we had. They are not issuing anty licenses at all at the moment I have read.So let the cash build up and make a decision when things are clearer. At the extreme AEX could sell up and start up in another Country using the cash we have/will have amassed. Tanzania IMHO may go bankrupt in time if they carry on trashing mining Co's etc.... Investment no doubt is already being stopped. They will be getting a HUGE financial shock.All IMHO.
Poor PR and Investor Relations What a poor RNS the lack of clarity and the use of selectivity do not promote good vibes for investors in Aminex. So if payment made how much and how much still outstanding and when is it expected to be paid?Why does North 1 well continue to average only 15 MMcf/d instead of the 30 forecast? Is it the lack of gas or the lack of customer demand?Jay's recent performance on the UTube was unconvincing and vauge but then the future prospects do look murky so why spend cash on consultants? Trying to pass the buck? Looks like a cheap cash in is in prospect "debt free" worries me.
Re: Tanzania oil/gas Safari N = there was a piece on Newsnight (yesterday) about how the Gupta brothers had tried to 'take over' SA politicians (and dragged Bell Pottinger into the picture in a pretty disgusting way) - all very worrying and very murky. Greed and hubris usually go together unfortunately, but it is bad news for ordinary investors as it so clouds the picture, and makes it impossible to make a clear investment decision.
Nyuni ? After today's RNS I have a feeling that they are now looking at a back up well for Kilawani. My feeling is that Fanjove would be the easiest link to songo songo island as it is closer. Obviously, it's down to the seismic data. Not sure whether they can re enter Nyuni with a side track if original well was not P & A. Would be better option to nt3 in my opinion.
Re: Tanzania oil/gas Hi grukker, It is rare in Africa, Asia, with 3rd world countries to have a person running the country to be honest, Mandela tried and was then known throughout the world, A lot of countries have other members of their tribe in senior positions, others have members of their family in charge, I an not talking about Trump in America.In Britain we are lucky with our police, in Africa there is still a lot to do, but South America is far worse, I think if Tanzania is lucky to have an honest person in charge then there are many businesses that will want to invest there, or take a part of businesses already there.I think things are getting better in Tanzania, I have been going there for about twenty years.
Re: Tanzania oil/gas Well it must be nice standing on the sidelines having faith in a Government which it seems are full of crooks. Well small investors live from day to day and have to make decisions, lets hope he is quick at putting this right, for all our sakes
Tanzania oil/gas I do not own shares in Aminex.The item about the Tanzanian president John Magufuli and Tanzania taking more interest in its oil/gas etc. although at first this might seem to be negative for companies like Aminex, I would like to point out this president stopped 10,000 wages from government department, because the money was being paid to people who did not exist, it was a scam by crooks. So I think there is also a strong chance this president will stop companies paying bribes to officials, this in no way means Aminex pays bribes, it is just refreshing to see a man in charge of Tanzania trying hard to stop corruption, this will eventually make the profits a company make solid because it will stop officials demanding bribes on the profit a company makes in Tanzania.I cannot return to Tanzania for some time, but I think if this president is truthful then it could become a great place to invest because everything will be more open and honest and companies will not be taken over by government.
Re: Tanzanian investment dries up Where is Sarah Cook and the rest of the UK government when we need them?
Re: Tanzanian investment dries up It would be very nasty of Tanzania to take this route ,World class firms ( many with small ordinary shareholders like us ) put their Country on the map, spending many millions too find world class discoveries of Gas, then go back on contracts . My Post on the 28/06/17 looks like it is happening now , with locals trying to take over now ,without paying for anything for many years of work and millions spent by small investors. Surely this would not be allowed under International Law ? watch this space .Our very big cornerstone investor cannot be very happy at the moment ,as well as us ?
Re: Tanzanian investment dries up Thanks Faddy, that's the one.It's not the best of news. It will change people's view of investment .BB.
Re: Tanzanian investment dries up BB,Looks like it's this one, not the best of reading.:[link]
Re: Tanzanian investment dries up EC. PDMS on the Ophir BB posted a link (tues 08.22) echoing your last post. I have tried to post it here but having no luck. Would somebody be a dear. Concerns us and its a potential game changer for investment in Tanzania. Bl..dy shame.Baron.
Tanzanian investment dries up The problem we have here I believe is the Government on Tanzania changing laws to get a better deal from the mining Companies and I have read the Energy supply Companies as well. I'm sure most if not all have read about the mining dispute whereby at least one major mine has been accused of not paying the proper royalties to the Government. Apparently they have/are changing the laws to do with this as well. The result of this is uncertainty which has caused investment in Tanzania to all but dry up. Until this uncertainty is dealt with I believe it is extremely unlikely Aminex will spend much money in Tanzania. Planning maybe but the chances of spudding a new well IMHO is zero. I have read no licenses are being issued by the Government at the moment due to the law changes. In time the laws will be sorted and licenses will again start to be issued. Until then I assume Aminex will do no more than plan future expendature assuming the new laws/royalties are acceptable.Luckily Aminex have plenty of cash so it's a matter of waiting.That's my take on it anyway.If I am incorrect or if anyone can throw more light on this please do.All IMHO.