.

Bought in here for the prospects news over the next 12 months somwhat swayed by the level of director buying a few months ago, and which ones were buying.

That alone told a story.

have in the last week bought in to these looking for big jump over the next 6 months

For those saying Nyuni is isolated and will take many years to bring on line, well, it does not look that way now...... snippets below with link :


http://dailynews.co.tz/home/?n=23312&cat=home

By ALVAR MWAKYUSA, 1st September 2011 @ 14:36,

CONSTRUCTION of a US$700 million (about 1.12trl/-) natural gas pipeline from Mtwara to Dar es Salaam will be implemented for one year and not three as earlier planned.

The Director General of Tanzania Petroleum Development Corporation (TPDC), Mr Yona Kilagane, said in an interview that the project will be fast-tracked................

............The pipeline is expected to connect Mnazi Bay, Songo Songo, Kiliwani/Nyuni, Mkuranga and a deep sea gas reserves in the country.

The Chinese government is expected to fund the multibillion project. Three teams from China have visited Tanzania on separate occasions to discuss implementation of the mission...............

This weeks Oil and Gas price monitor from Merchant Securities :

http://www.mediafire.com/?ddmh1qawrnb9w3e

.

AEX is a main market listed stock, so you can ISA it !!

(general reminder for newbies as many people think its an AIM stock and not ISA'ble)

As stand alone wells, Nyuni-2 top end result is worth more than a Ntorya-1 good result (50p per share upside Nyuni v 40p a share upside Ntorya-1), however, what it means for the future and other potentials is of course that success at Ntorya-1 will not only add a lot to the share price short term, but it also validates a lot of other leads and is worth a lot lot more over the longer term.

The question is, apart from will Nyuni-2 be good or not, how will the market respond to a good result given that at 6p there is nothing in the price for ongoing Nyuni-2 well and also nothing in the price for the upcoming Ntorya-1 well.



Oilbarrel article about Solo talking about Ruvuma:

http://oilbarrel.com/news/solo-oil-sees-progress-in-canada-and-looks-ahead-to-high-profile-spud-of-ruvuma-wildcat

"...............Solo has a 12.5 per cent interest in the Mtwara Block, part of the Tullow Oil-operated Ruvuma PSA in Tanzania. This, as regular readers will know, is part of the exciting surge of exploration now taking place across sub-Saharan Africa in the wake of major finds in landlocked Uganda (by Tullow) and the deepwaters offshore Tanzania and Mozambique.

The Ruvuma PSA is a huge - more than 12,000 sq km - tract of exploration acreage, largely onshore, in southeast Tanzania. The co-venturers, which comprise Tullow with 50 per cent and Aminex with 37.5 per cent, are hopeful of the prospectivity here in the wake of recent finds in the deep offshore; BGs deepwater licence directly adjoins the Ruvuma PSA.

The JVs first well here, Likonde-1, drilled in 2010, intersected two sandstone intervals with a combined thickness of over 250 metres with evidence of residual oil and gas but was terminated due to high gas influx. The follow-up well, Ntorya-1, will drill in Q4 some 14 km to the south of Likonde-1, to a planned total depth of 2,020 metres. It will target the same high quality Lower Tertiary reservoir sands encountered in the Likonde-1 well with the hope of intersecting a potential mean recoverable resource potential of 100 million barrels oil equivalent............."

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http://www.investegate.co.uk/Article.aspx?id=201109080700098413N

Excellent news.

Obviously for Tullow it just does not make operational sense to have a set up for Tanzania and get involved in all those costs, when Aminex are busy with Kiliwani, Nyuni and can easily handle operational matters at Ruvuma, given that Ruvuma is the only interest of Tullow in Tanzania.

Tullow now save the costs (and hassle) of being operator but still retain a 25% interest in the area, allowing Aminex, who are busy in Tanzania anyway, to get on with being operator of the Ruvuma license area.

http://www.proactiveinvestors.co.uk/companies/news/32877/update-aminex-becomes-operator-of-ruvuma-basin-in-deal-brokered-with-tullow-32877.html

UPDATE: Aminex becomes operator of Ruvuma Basin in deal brokered with Tullow

Thu 12:59 pm by Ian Lyall and Sergei Balashov

Later this year with the Ntorya-1 well, south of Likonde, will be drilled to 2,020 metres and is expected to take 25 days to reach its target depth

Adds comments from Shore Capital...

Aminex (LON:AEX) will become the majority owner and operator of the Ruvuma Basin production sharing agreement in Tanzania under a deal brokered with Tullow Oil (LON:TLW).

Tullow has assigned an 18.75 per cent stake to Aminex, which takes its holding to 56.75 per cent, while Solo Oil (LON:SOLO) receives a 6.25 per cent boost from the FTSE 100 explorer, giving it 18.75 per cent of the PSA.

It leaves Tullow with 25 per cent of Ruvuma, which is an on-shore and offshore prospect.

The re-organisation was described as a logical and practical move because Aminex already operates a well in Tanzania, where Tullow doesnt.

Therefore there will be operating efficiencies with Aminex in charge of the drilling programme.

Last year the partners drilled the Likonde-1 well on the permit, which while not a commercial discovery, provided strong evidence of both oil and gas in the area.

Later this year with the Ntorya-1 well, south of Likonde, will be drilled to 2,020 metres and is expected to take 25 days to reach its target depth.

The Caroil-6 rig is being mobilised to Ruvuma from the Aminex-operated Nyuni-2 well, where results are expected imminently.

Chairman Brian Hall said: "We are looking forward to drilling the exciting Ntorya prospect at Ruvuma, in one of the last major under-explored deltaic basins in Africa.

The PSA was originally awarded 100 per cent to Aminex in 2005 and we acquired the original seismic data before passing operatorship to Tullow in 2008 after they had joined the joint venture.

We are very grateful for the good work done by Tullow on this project and much appreciate the opportunity to increase our interest and reassume operatorship.

We are fully anticipating Tullow's continued support and assistance."

Broker Shore Capital welcomed the update, calling the transfer of operatorship to Aminex a very logical outcome which should expedite the work programme and lead to operational efficiencies, also noting the increase of Solos interest in Ruvuma.

We think that this is good news which provides (Solo and Aminex) with additional leverage to drilling success in this exciting basin, said Shore Capital analyst Craig Howie.

No news is good news - very possible today.

Today is possibly bad news dumping day, so I shall even be positive to see no news released today.

If they really have no gas, they should have finished and logged by now, as drilling with no gas is much faster than drilling into a gas filled reservoir.

So fingers crossed for no bad news today, then we can all get exciting about next week.

Bought a few more.....calculated risk....could jump past 10p on a good result....and guess what ?...it comes up as a sell ???...nuts....

rf why has TLW pulled out of this project?

They haven't...reduced to 25% on the ruvuma.....it's the nuyuni gas drill that could be the one to get this going....results due any moment now...

Suggest in the coming 6 to 9 months markets are going to be strong (ignoring the short term rumour dominated volatility).

http://www.bloomberg.com/news/2011-09-08/insider-buying-highest-since-2008-in-europe-chart-of-the-day.html

Insider Buying Highest Since 2008 in Europe: Chart of the Day

By Adam Haigh and Tim Barwell - Sep 9, 2011 6:00 AM GMT+0700


More executives at European companies are buying their stock than at any time since the worst period of the financial crisis in 2008.

The CHART OF THE DAY shows that insider buying of shares climbed in August to its highest level since October 2008, according to data compiled by Citigroup Inc. That preceded a 84 percent jump in the benchmark Stoxx Europe 600 Index from March 2009 to the gauges peak this year on Feb. 17.

Directors have a good ability in timing the market, Chris Montagu, a London-based quantitative strategist at Citigroup, wrote in a report dated Sept. 6. One can conclude that, at this juncture, directors see current valuations as an attractive entry point.

The benchmark Stoxx Europe 600 Index slumped 16 percent from the end of July through Sept. 6 when the gauge reached its lowest level since July 2009. Equities tumbled amid concern that global economic growth is slowing as the European sovereign-debt crisis spreads. The indexs valuation slid to 9.1 times the estimated profits of its constituent companies during August, the lowest price-earnings ratio since March 2009, according to data compiled by Bloomberg.

More good news.

http://www.investegate.co.uk/Article.aspx?id=201109130700120987O

Aminex PLC
Acreage Swap in Tanzania
RNS Number : 0987O
Aminex PLC
13 September 2011

ACREAGE SWAP IN TANZANIA

Aminex announces the following further reorganisation of its Tanzanian exploration portfolio:

Aminex and Key Petroleum Ltd. ('Key') currently participate 50-50 in the West Songo-Songo Production Sharing Agreement ('PSA') in Tanzania, with Key as the operating partner. Progress has been slow to date and the work programme is behind schedule, creating uncertainty about the future of the PSA. As a consequence, Aminex has agreed with Key that it will withdraw from the PSA, transferring its 50% interest to Key which will then hold 100%. In exchange, Key will relinquish its 5% interest in the new 'Nyuni Area PSA' in favour of Aminex. The West Songo-Songo transfer is being submitted to the Tanzanian authorities for formal approval but the practical aspects of the transfer will be implemented immediately.

The 'Nyuni Area PSA' will replace the existing 'Nyuni-East Songo-Songo PSA', operated by Aminex's wholly-owned subsidiary, Ndovu Resources Ltd., which is now time-expired and where work obligations have been fulfilled, with two gas discoveries recorded. The new Nyuni Area PSA has already been initialled by both Aminex and the Tanzanian authorities, as previously announced, and will be formally executed by the Minister of Energy and Minerals at an appropriate time. The Nyuni Area PSA will be materially larger than the earlier one and will comprise 4 additional blocks directly to the north, as well as the area covered by the existing Nyuni-East Songo-Songo PSA. Key will retain a 5% working interest in the Kiliwani North gas development licence, which was carved out from the Nyuni PSA earlier this year. Interest holdings will now be as follows:

Nyuni Area PSA

(1,690 km, including 338km making up the 4 additional blocks)

Ndovu Resources (Aminex) 70%
RAK Gas 25%
Bounty Oil 5%


Kiliwani North Development Licence

(85 km)

Ndovu Resources (Aminex) 65%
RAK Gas 25%
Bounty Oil 5%
Key Petroleum 5%

Aminex considers that the new acreage included in the Nyuni Area PSA will provide greater scope for establishing a new play fairway on the continental shelf which could share similarities to some of the recent deep water drilling successes.

Aminex Chairman Brian Hall commented: "Although West Songo-Songo is potentially promising acreage, we believe that our strategy of increasing our interest and acreage in the Nyuni PSA area together with our recently announced increase in our percentage interest in the Ruvuma Basin will be more effective and valuable than our existing portfolio mix."

West Songo Songo (WSS) is possibly 1 TCF of gas and Aminex wanted to buy out the KEY 50%.

This has now changed and AEX have sold their 50% of WSS to KEY in return for 5% of Nyuni.

Given how WSS was supposed to be 1TCF GIP and Aminex wanted to buy the additional 50%, it would suggest they now value 5% of Nyuni much higher.


Says to me Nyuni is a decent sized find !

To clear up any confusion the deal is :

KEY keep their 5% interest in Nyuni-2.

KEY give up their 5% interest in anything in the new Nyuni PSA (future exploration) and give to AEX

AEX give up their 50% interest in WSS and give to KEY



It was confusing, but this has been clarified by a poster who was in contact with AEX as per post on The Fool. People were wondering why KEY would give up 5% of the current drill, when in fact they have not, they keep it, and give up 5% of any future exploration in the new Nyuni PSA area.

Thanks to "DearLeader" from elsewhere. As per the AEX interims it does look like Sunny Ernst No 2 is going to make a significant contribution to revenues now.......


http://www.stockopedia.co.uk/content/usa-30799/

"The Activa newsletter has just come out. It's not on their site yet so here's the relevant paragraph:"

"The Sunny Ernst No. 2, in the Loma Field in southern Texas on which we reported last time continues to perform strongly. Since the recompletion in the main pay zone in May the well has been producing at daily rates between 5 and 8 MMCF plus between 250 and 360 BOPD. Current daily production is at 6.7 MCFD and 260 BOPD. This represents an 8-fold increase vs. prior production levels from the lower pay zone which already returned 3 to 1 over the original investment."


.

After the good USA news now some mixed news on RNS.

Nyuni-2 needs a sidetrack due to junk in the well. So a delay for a couple of weeks for that result.

But, pipework has been ordered to connect Kiliwani and get it into production.


So an annoying delay at Nyuni-2 and the end of an annoying delay at Kiliwani-1

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