.

.

On line limits strong.

Max BUY only 15K at 3.29p

Max SELL is now 500K at 3.28p


Its going up more........

.

Another director buy announced after close.

1.35 million shares purchased.

Good bit of consolidation today after the hefty rises of late.

.

On line limits are strong :

Max BUY just 75K @ 3.49p

Max SELL 250K @ 3.43p

L2 is 4 v 1 @ 3.4/3.5

Tis looking like things are much more balanced now and AEX is ready to move up strong and hard if buying demand comes in. You could say its poised now.....

The big drop was on no volume, the big sell came later on and now it looks like the overhang is clear, IMO. Ready to roll on up and close that gap to 5p during January.



.

Spudded Ntorya-1.

http://www.investegate.co.uk/Article.aspx?id=201112230935015773U

Come back for results in circa 30 days.

P50 "100 MMBO" recoverable if oil, P50 "600 BCF" if gas.

.

tucked a few away into my ISA at 3.41p. have held previously but ended selling at a small loss.[around the 11p mark if i remember correctly] i agree it seems like it cant go much lower[without going bust obviously] and only way should be up. DYOR GLA etc.
Alex

Might even get some positives from North Korea but I wouldn't bet on it.....

.

i heard they renamed KIM JONG ILL to KIM JONG DEAD in light of recent events.

VALUATION TIME FOR OIL AT NTORYA-1

P10 = 160 MMBO of recoverable oil

Aminex Share is 56.25% = 90 million barrels

90 million barrels valued at a lowly 6 US$ in the ground (low valuation to allow for dilution, should be higher as this is only 30km from a port where oil could be trucked in the first instance for quick sales).


90,000,000 x 6 = 540,000,000 US$ = 346,000,000 pounds.

Aminex shares in issue = 780,000,000


Ntorya-1 strike at P10 level valued at 6 US% a barrel in the ground = 44.35p per share to Aminex.

-------------------------------

P50 = 100 MMBO of recoverable oil

Aminex Share is 56.25% = 56.25 million barrels

56.25 million barrels valued at a lowly 6 US$ in the ground (low valuation to allow for dilution, should be higher as this is only 30km from a port where oil could be trucked in the first instance for quick sales).


56,250,000 x 6 = 337,500,000 US$ = 216,000,000 pounds.

Aminex shares in issue = 780,000,000


Ntorya-1 strike at P50 level valued at 6 US% a barrel in the ground = 27.69p per share to Aminex.

.

VALUATION TIME FOR GAS AT NTORYA-1

P10 = 960 BCF of recoverable gas

Aminex Share is 56.25% = 540 BCF

DAVY RESEARCH use a figure of 1p to AEX for each 23 BCF of gas in Tanzania.

540 / 23 = 23.47p

Ntorya-1 GAS strike at P10 level = 23.47p per share to Aminex.

-------------------------------

P50 = 600 BCF of recoverable gas

Aminex Share is 56.25% = 337.5 BCF

DAVY RESEARCH use a figure of 1p to AEX for each 23 BCF of gas in Tanzania.

337.5 / 23 = 14.67p

Ntorya-1 GAS strike at P50 level = 14.67p per share to Aminex.

So fingers crossed its OIL ahead of GAS.

Much bigger upside.

Late RNS.

Raised money at 5p a share !!! Well above todays price.

Prospect of a new JV as well.

Merry Christmas, what a nice present.

http://www.investegate.co.uk/Article.aspx?id=201112231317026219U

.

.