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required field

have fun at " mnamreh " expenses
nothing is happening yet ( share price wise ) though the buys are continuing and at this point with larger size.

although that was not the idea, as you know, mabe something positive comes out of the earlier posting .........
At other places are using this tactic to keep the thread at the TOP so posters are aware of the rising share and looking into the company chart

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the bitch is back and is bad news BOOM BOOM

lyrics

Boom boom boom boom
I wanna double boom

Boom boom boom boom
I want you out of my room

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New PSA signed :) So news soon.

http://michuzijr.blogspot.com/2011/10/hotuba-ya-waziri-wa-nishati-na-madini.html

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RNS today confirming new PSA.

Bounty have released their Annual Report on the ASX, which has mention of the Nyuni drills and prospects, link below to PDF.

http://www.asx.com.au/asxpdf/20111031/pdf/4226fvs31rj871.pdf

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This is a great map.

http://www.ophirenergy.com/UserDir/News/OEC-P-4415%20OEplc%20-%20East%20Pande%202011-04-07137.pdf

Especially when you put the next well, being Ntorya-1, slap bang in the middle of Likonde-1 well oil shows and the Mikindani oil seeps.

So if the oil has migrated through and had seeps, its very likely that Ntorya-1 might have some of the stuff trapped in it.

P10 is 160 MMBO recoverable.

Very interesting.

http://issamichuzi.blogspot.com/2011/11/panafrican-energy-tanzania-to-double.html

....Brown confirmed that the company had set aside USD130m for investment in both Songo Songo main field with the drilling of two new wells, and for increasing production from a third well. The drilling rig Sakson PR5 is currently being transported to arrive at Songo Songo in mid-November. The first of the new wells is expected to begin drilling in late November/early December.......


Wonder if AEX can use this Sakson PR5 rig for the Nyuni-2 re-entry ? Could be some negotiations going on for that.

Could be Santa Claus is alive and well :)

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And now I have a machine gun.....

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Welcome to the party ptholden !......

No...of course not....

Aminex shares worth considering ahead of key operational milestones, says ShoreCap
12:09 pm by Jamie Ashcroft

This part of East Africa is becoming a hotspot for exploration, with several major discoveries being made
The hotly anticipated Ntorya exploration well can help investors in Aminex (LON:AEX) get over the disappointing outcome of the Nyuni-2 well, according to Shore Capital analyst Craig Howie.

The groups shares have fallen 45 per cent in the past month since the Nyuni-2 well was suspended.

The exploration well was drilled diagonally from a small island to test offshore targets in Tanzania. A technical problem meant that Aminex could not assess the target reservoirs.

In a note to clients Shore Capitals Craig Howie says that Aminex shares are very worthy of consideration following the recent fall.

Although the Nyuni-2 outcome was undeniably disappointing the groups oil reserves in the United States limit the downside to the shares from here, Howie said. Furthermore he reckons there is good scope for the share price to rise if Aminex can deliver good news in the coming months.

The good news may come from two assets in Tanzania, he explains.

The Ntorya well in the onshore Rovuma PSA is the next key milestone and the Kiliwani North gas field could begin production not long after that.

Howie expects Aminex to spud the exploration well early next month and the results to be ready in the New Year. Ntorya is a joint venture with Tullow Oil (LON:TLW) and Solo Oil (LON:SOLO), which own 25 and 18.75 per cent stakes respectively.

Ntorya-1 is targeting an estimated 100 million barrels of oil equivalent and it is said to have a 20 per cent chance of success. It will test the same high-quality Lower Tertiary reservoir sands that the Likonde-1 well encountered 14 kilometres to the north.

Although Likonde-1 was not a flowing, commercial discovery, the hydrocarbon shows and potential net reservoir thickness provided lots of encouragement ahead of drilling of a second exploration well, Howie said.

Additionally the ShoreCap analyst points to Anadarko Petroleums Ironclad well, which was drilled offshore in 2010, as evidence of liquid hydrocarbons in the basin. Indeed Iron is one of several nearby discoveries made in the past eighteen months or so.

The Ntorya well will cost around US$5 million, according to Howie. He explains that this is considerably less than the Nyuni-2. The well is cheaper because of it will be drilled to a shallower depth and it will be simpler vertical well.

Following the completion of the Ntorya well attention is likely to turn to the Kiliwani North gas field. Aminex received a production licence for the project earlier this year after the discovery area was carved out of the licence area belonging to the Nyuni PSA.

The Kiliwani North discovery was made back in 2008. Now Aminex is preparing to commercialise the gas field which is near existing infrastructure at the Songo-Songo gas field.

Despite past delays, we understand that the Tanzanian authorities are now very keen to see this project commercialised due to local gas shortages, Howie said.

Aminex is confident that it can achieve first gas in the second quarter of 2012.

He added: In addition to the engineering and procurement of equipment to tie Kiliwani North into existing gas processing facilities, final negotiation of a gas sales agreement is currently underway, and we now have sufficient confidence to factor Kiliwani North into our production forecasts for next year.

source .. http://bit.ly/vr7o3J

Investors eye Tanzania gas industry

MONDAY, 07 NOVEMBER 2011 12:35 JOHN MSANGI
DAR ES SALAAM, TANZANIA

- Discovery of oil in Uganda and natural gas in Mozambique close to the Tanzania border, has sparked interests by major oil and gas prospectors to scramble for acquisitions of oil blocks in this country.
The Tanzania Government last week signed two 'Production Sharing Agreements' (PSA) with Aminex Plc and Heritage Oil Plc to explore for oil and gas in Lake Rukwa in south western Tanzania and Nyuni-Songosongo in south eastern Tanzania.
According to the Minister for Energy and Minerals, Mr William Ngeleja, Aminex Plc will undertake oil and gas exploration at Nyuni-East Songosongo and about US$75.3 million will be injected in the project while Heritage will explore for oil and gas in Lake Rukwa block where the firm is expected to invest $66.5 million in the project.

"The terms of the PSAs cover eleven years which are divided into three sub-periods," said the Minister.
The signing of the agreements with Aminex Plc and Heritage Oil Plc brings the number of exploration companies already on the ground to 17, the highest number since exploration of oil and gas started in the country in the 1950s.
Most of the exploration companies that are currently investing in exploration for oil and natural gas in the country originate from Australia, United Kingdom, France, Brazil, Norway, USA, Canada and UAE.
Ngeleja said though Tanzania has yet to produce a commercially viable oil find, investors should be confident of high likelihood to discover oil because of an assuring geodata.

"Tanzania has similar geographical structure with Uganda and Mozambique where discovery of oil has been made; therefore exploration firms should be confident that there is a possibility that Tanzania has oil," said Ngeleja.
He said the Government is in new talks for six more 'Production Sharing Agreements' (PSAs) with international exploration companies to undertake oil and gas in different prime places of the country.
He said that discussions are at different stages and if successfully concluded, these PSAs will cover Deep-sea Block 8, Lake Tanganyika area (northern area), Kyela, Ruhuhu, Mikumi and Pangani.
"The Government is committed to continue promoting exploration for oil and gas in the country.

This being one of the principle objectives of our National Energy Policy which aims at ensuring that the country receives a reliable supply of energy and to all parts of the country at low cost and with due regard to the environment," said Ngeleja.

source ...investors-eye-tanzania-gas-industry