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News that the loan for the pipeline is agreed.

Should start work this year and in operation by Dec 2012, just like they said it would in those reports.

Nyuni gas on line in Dec 2012 all being well.

http://blogs.ft.com/beyond-brics/2011/09/23/china-draws-tanzania-into-its-african-embrace/#axzz1Yn3jizzh

China draws Tanzania into its embrace
September 23, 2011 12:33 pm by David Keohane

Tanzania is the latest African country to benefit from Chinese largesse Reuters is reporting it has signed a $3bn deal with Chinese mining company Sichuan Hongda (600331:SHH) to mine coal and iron-ore and agreed a $1bn loan deal with the Chinese government to build a desperately-needed gas pipeline...........................

Details of the pipeline, and yes it will be finished in Dec 2012 (meaning Nyuni gas on line from Dec 2012)

http://www.wentworthresources.com/pdf/Wentworth-Resources-Corporate-Presentation-September-2011-Final.pdf

Page 11 of the above presentation (also gives pipe sizes).

Construction of a 24 pipeline from Mtwara to Somanga and a 30 line from Somanga to Dar es Salaam is being fast tracked (target completion Q4 2012)


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Disappointing news.

Nyuni-2 well suspended for now due to ongoing drilling problems.

Rig moves on now to drill Ntorya-1 soon. AEX can return to Nyuni-2 at a later date once they decide the best way forward to complete drilling.

The positive is that they have indeed hit gas.

.......Although geologically complex, the Nyuni prospect remains a prime exploration target and preliminary indications of gases from Neocomian and shallower Cretaceous sands have been encountered, suggesting the same active petroleum system, which was encountered in Nyuni-1. The Nyuni-2 well bore remains available for re-entry at a later date.

Once work is complete at Nyuni Island, the rig will be mobilised to the onshore Ruvuma Basin in southern Tanzania where Aminex expects to spud the Ntorya-1 well towards the end of this year......

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No revenue was associated with Nyuni in 2012, as there is no pipeline. So there is no downside to revenue projections.

The new pipeline offering the chance to get Nyuni-1 and any successful Nyuni-2 on to production will be complete in Dec 2012.

So they have a year to get a rig back to Nyuni-2 and now take this proven gas (we know that today its gas bearing both zones) to be proven commercial gas we hope by re-entering the well.

Thats the end result of today, the existence of gas is proven, the schedule is moved back and the well is suspended and will be re-entered in 2012.

Markets are purely sentiment and today many people are in "slash wrists" mode but that will calm down and the price will recover into the Ntorya-1 drill, due to spud early December now it looks like.

Sorry to all holders.

%!---*$----@xxxx....,damn......

Bounty talk of "significant gas" in their press release :)

http://www.asx.com.au/asxpdf/20111006/pdf/421lfgpwrgpvrt.pdf

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Well.....bought some more broken AEX lawn-mower machines...sub 3p...amazing discount.....there such demand for them that I just had to have some more.....

Did you ask permission, to Moneyless ( Proselenes )?
Everything he touches turns to dust and ashes
could be the real thing this days


May his rigor mortis touch strike the heart of his nearest imitator
in the dance of the dastardly in our Stock Market fortune

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mnamreh, I got another 500K this morning, sub 3p price. Very nice.

Overhang at the moment, RENA is offloading whoever it is, all the other MM's are up on 3.5p.

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This looks real bad.

this looks doomed. I'm out.