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Stable and blue today, one of not many blue on the market.

O&G Price Monitor.

http://www.mediafire.com/?m2j17nh6m33gu8k

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More good news !


http://www.dailynews.co.tz/bunge/?n=23067

Wednesday August 24, 2011

From the Parliament

From DAILY NEWS Reporters in Dodoma

THE government has decided to construct and own by 100 per cent a major natural gas pipeline to connect Mnazi Bay, Songo Songo, Kiliwani/Nyuni, Mkuranga and a deep sea gas reserves discovered recently.

The Deputy Minister for Energy and Minerals, Mr Adam Malima, told legislators on Tuesday that upon completion the project would go a long way into realising government's resolve to speed up de.......................................

Aminex Aminex............the unloved stock.

When you take into account Davy Research's 1p per 23 BCF net to AEX, then it shows how lively things could get with Nyuni-2.

If you take top line figures :

Nyuni-2 GIP of 2500BCF (P10)

Recovery at 83% = 2,075 BCF recoverable.

AEX 65% share = 1348 BCF recoverable AEX share

1348 divided by 23 BCF (1p a share) = 58 pence upside to AEX price if Nyuni-2 is jackpot level.



If you take P50 level of 1500BCF GIP

Conservative 73% recoverable = 1095 BCF recoverable.

AEX 65% share = 711 BCF

711 divided by 23 BCF (1p a share) = 31 pence upside to AEX price if Nyuni-2 is mid level potential.


31 pence a share upside on moderate good news, 58 pence per share upside on jackpot news - and the share price now is just 6p for everything, including USA assets, Kiliwani and of course the onshore oil area to be drilled in Q4.

Low risk, due to present low market cap, but very significant potential upside, greater perhaps than any other small cap oil/gas share, and of course its main market listed so you can ISA it as well.



Davy Research


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Aminex (AEX ID)

Nyuni licence extension
14 April 2011

Caren Crowley Closing Price: 9c Rating: Outperform 30/06/09


FACTS: Aminex has received a six-month extension to the Nyuni licence offshore Tanzania. The extension will accommodate the drilling and completion of the Nyuni-2 well which is due to spud in the next month and a half. Aminex has 65% of the Nyuni licence which it also operates.

ANALYSIS: The Nyuni-2 well will test a Neocomian age gas prospect. Estimated prospective resources for gas initially in place are as much as 2,500 BCF (P10). Aminex considers that a 73-83% recovery factor is applicable to the gas in place. Nyuni-2 has potential for significant value creation. A measure of this potential is possible if one considers our 1p per share valuation of Aminex's share of the neighbouring Kiliwani North gas discovery. Aminex's share of the Kiliwani North Discovery is an estimated 23 BCF.

Terms for a new and expanded licence to replace the expiring Nyuni licence have been agreed and are expected to be formally concluded in due course. In its FY 2010 preliminary results, Aminex commented that the new licence agreement may include additional acreage.

DAVY VIEW: We believe that Aminex's primary attraction will be its drilling activity in Tanzania. In this context, the Nyuni licence extension and the imminent spudding of Nyuni-2 unwinds risk and is good news for investors.

http://www.bloomberg.com/news/2011-08-21/chart-fears-make-gold-expensive-versus-oil.html


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http://www.fundweb.co.uk/1036679.article?cmpid=14001

Oil companies will not stay undervalued, says expert

24 August 2011 | By Henry Brennan
The undervaluation of the oil companies cannot continue for much longer, according to the Junior Oils Trust.

Angelos Damaskos

The recent weaknesses in the global markets, including the free-fall in August have contributed to the dislocation of share prices from the price of oil.

Companies are therefore undervalued, and this dislocation cannot continue for long, says Angelos Damaskos, the fund advisor for the Junior Oils Trust.

Having positioned the portfolio defensively since the beginning of the year, taking out significant cash positions alongside a 14% weighting to corporate bonds, the fund is moving back into equities to take advantage of what is being seen as a strong buying opportunity.

We have been selectively investing available cash reserves into equities since May and are finding many attractive companies with sound fundamentals are trading at extraordinarily cheap valuations.

Even within a slowing global economy, demand for energy will likely continue to grow, albeit at a reduced rate, as demonstrated by Chinas increasing rate of oil imports.

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There are no delays.

Well is presently at week 9 and expectation was 9 to 10 weeks. So no delays as yet.

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See post 25.

Its all going ahead now.........

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Its been held up by government red tape, all articles now suggest on line in 2012, so not long to go now it seems.

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The interim results are due out next week, should be more detail in them on everything.

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400 metres to go.

http://www.asx.com.au/asxpdf/20110826/pdf/420ndw9yk874fk.pdf

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Looks like Aminex (Ndovu Resources) will get Kiliwani on line through the Orca pipeline.


Page 32 of the Orca Q2 results.

http://www.orcaexploration.com/2011/2011_Q2_OrcaExploration_FULL.pdf


Access to infrastructure

Ndovu Resources Limited, with support from TPDC and the Ministry of Energy, has indicated that they wish to tie into the gas processing plant on Songo Songo Island and sell up to 10 MMcfd from their Kiliwani North field. The Company is currently in discussions with Ndovu to agree appropriate commercial terms

Could fly past 10p on a good result...

Indeed it could.

If the median estimates for Nyuni-2 come in, it puts 30p a share on.

If its top range for Nyuni-2 it adds 50p a share.

So depending on what level of success, IF ANY, then it could easily fly through many levels much higher than where the share price is now.

Starting to liven up a little now.