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ybhere 24 Nov 2017

Thanks to Vik1 on LSE Discussion board.On the subject of fertiliser plants, I missed this one from last week. Apols if it's been posted already. The Ferrostaal mega plant has been discussed for years, and is great to see some formal progress being made. The best part: 'The plant is expected to run on natural gas with a consumption rate projected at 104 million standard cubic feet per day '. That's nice and chunky.[link] the first time in the country’s history, the Tanzania Investment Centre (TIC) has officially received an application for the registration of a mega fertilizer plant project worth 1.9bn US Dollars (over 4 trillion/-).Ferrostaal Industries Project GmbH, the Germany investor in the project, submitted its application documents to TIC yesterday for the construction of the mega fertilizer plant in Kilwa, Lindi Region.It will be implemented jointly with Danish shareholders -- Holdor Topsoe A/S -- will be registered under the name of Tanzania Mbolea and Petrochemicals Company Limited (TAMCO).Tanzania Petroleum Development Corporation (TPDC) is also a shareholder in the project. According to the TIC Executive Director, Mr Geoffrey Mwambe, the project will create 4,800 direct job opportunities of which 300 will be filled by expatriates.The plant is expected to run on natural gas with a consumption rate projected at 104 million standard cubic feet per day (104mmscfd). Mr Mwambe said the plant is expected to produce 1.3 million tonnes of UREA fertilizer per annum (about 3,850 tonnes per day), reducing tremendously the country’s use of its foreign currency in importing the fertilizer.According to the TIC executive director, Tanzania’s annual fertilizer demand stands at 350,000 tonnes. Given the bulk nature of fertilizer production, the executive director said part of the consignment would be exported to neighbouring countries.Kilwa has been chosen as the project base as it will be easier to haul raw materials from sites in the southern regions. Kilwa’s proximity to the natural gas infrastructure will also simplify project implementation.“This project is of great importance to the government, given the fact that the country is now implementing an industrialization drive to enable its economy attain middle-income status,” Mr Mwambe said.He added: “It is very rare for any country, especially one in the developing country category, to register this size of project. It is a strategic and exemplary project that everyone must be proud of.”According to the TIC executive director, discussions on registration and implementation were held for a long time before an agreement was reached. Mr Mwambe said TIC would expedite the registration process so that investors and the country could realize its potential soon.He said residence and work permits would also be processed and issued to the expatriates involved, for speedy takeoff. The production of UREA fertilizer by the new plant would bring a sigh of relief to farmers who have been complaining of receiving the commodity late every farming season due to importation drawbacks.Local sourcing of the fertilizer would automatically reduce its market price, considering that freight charges have always contributed to high prices, negatively impacting on productivity due to farmers’ inability to purchase it.The envisaged plant is the largest investment in the sector of agricultural inputs. Minjingu Mines and Fertilizers Limited also produce fertilizers for local use and for export. Its production capacity is reportedly 100,000 tonnes per annum.The submission of the documents to TIC was witnessed by diplomats from Germany and Denmark.YB

crudehope 23 Nov 2017

Re: DL - TheMysteron, where are you these days - you haven't posted since February. If you read this come over to SOU LSE & say hi: it's been such a long time since we spoke! Hope all is well with you?Cheers, Crude

ALAGUSAM 15 Nov 2017

Development licence Why havnt we received it yet?

ybhere 14 Nov 2017

Solo $5 m - Tanzaniz - HH RNS from Solo which impinges on Aminex & Tanzania.The First Tranche will be used to fund the Company's share of forecasted activities within the Company's investment portfolio, specifically:· the final reconciled expenses for the Ntorya-2 well and flow testing in Tanzania, in which Solo holds a 25% working interest,· screening engineering studies for the planned Ntorya early production scheme and full field development,· a Competent Persons Report for the estimated gross 1.34 trillion cubic feet ("tcf" gas in place Ntorya accumulation,· additional studies at the Kiliwani North producing gas field, where Solo holds a 7.55% interest,· upcoming long term well testing at the Horse Hill-1 oil discovery in the UK, in which Solo has a 10% participating interest in Horse Hill Development Limited,· pre-drill technical work within the Helium One Limited investment in which Solo holds a 10% interest by means of shares, and; general investment working capital needs over the next 6 months.YB

Jay053 09 Nov 2017

Malcy AminexVery briefly I notice that Aminex has signed up John Bell as a non-exec Director, this is very good news for both parties as he is an experienced and very talented oil man. Currently running Gulfsands Petroleum and doing a good job there JB will add a great deal to Aminex.[link]

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