.

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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.

mnamreh

the only thing you have to ignore is your bad timing, on choosing the wrong company and the other influences


re -Still, may be better in 2012.

allways hopping, but the Portfolio if you have any will not be any happy
management seems have come up with disaster after disaster

as it happens I have choosing the right stock this week, something I can not say for you
Ignore me at your peril they would say
ITQ 164.50p +24.50p, bought at 135p last Tuesday and is on the board as a proof.

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mnamreh, thanks for the heads up, Master RSI back again under another different name. Keeps getting banned but like a bad penny keeps coming back.

Hopefully admin on Moneyam will ban his new user name and get rid of him again.

And hopefully you at the same time.

KEEP an EYE

2.90p ( 2.80 / 3p ) though there is an order for 2.90p at bid side

strong order book on the bid side ( 2.5M at 2.90p ) and wanting to move higher lately, a very small spread

order book
DEPTH 2.9M v 645K

Lots of buyng since and WINS goes into the bid 3p

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mnamreh

re - We can all see what is happening.

Tell me more as you said nothing

I already said my say yesterday "keep an eye" 2 large orders to buy on "order book" never being done yesterday, only one today for 1M

There is constant buying today and willing to pay over 3p now that is moving higher at both sides

spread 2.95 / 3.10p

It looks like MMs are ready to let it go better finally


reason
3 MMs have gone into the bid 3p, the last 2 just now ( 10.58am ) without any trade showing

spread 3 / 3.10p +0.125p

Could soon move higher as the offer is now hold by only 1 Market Maker
3 at bid + WINS at plus market

5 Stocks for Cashing In on East Africa's Energy Boom
By Aimee Duffy -- October 22, 2011

If September was the month for oil announcements out of West Africa, October is the month for East Africa, as several major oil and gas companies have announced discoveries of the southeastern coast of the continent.

Gas!
Historically, Eni (NYSE: E ) and other drillers have placed emphasis on oil and gas exploration on the northern and western sides of the continent. That tune may change now that Eni, Africa's largest oil and gas producer, has announced a discovery of 15 Tcf of natural gas off of the coast of Mozambique.

At the end of August, Anadarko Petroleum (NYSE: APC ) also discovered natural gas off the coast of Mozambique. Two weeks ago, the company upped its recoverable-gas estimate from 6 Tcf to 10 Tcf. How much gas does that equate to? It's enough to power France, Germany, Italy, and the United Kingdom for a year.

Past production
The discovery of gas in such plentiful amounts is a big deal in this region. Though the Energy Information Administration doesn't have production numbers for 2010, you can see that in 2009 there was virtually no energy being produced in East Africa.

Country Past Production
Mozambique No oil, 124 Bcf gas exported in 2009
Kenya No oil, no gas
Tanzania No oil, 23 Bcf gas exported in 2009
Madagascar No oil, no gas
Source: Energy Information Administration.

Discoveries by Eni and Anadarko will break production and export records, notablly at a time when Asia and Europe are clamoring for natural gas.

Other players
Anadarko and Eni aren't the only oil and gas outfits looking to cash in on East Africa plays. Here is a breakdown of ongoing activity in the region:

Royal Dutch Shell (NYSE: RDS-A ) is parterning with Brazil's Petrobras to explore off the coast of Tanzania.
Total SA (NYSE: TOT ) is joining Anadarko in an effort to explore offshore of Kenya. And of course, you can't talk about natural-gas discoveries without bringing up LNG.
Anadarko is in talks with KBR (NYSE: KBR ) about developing a liquefied natural gas facility if actual production amounts to anything near estimates.
Risk
The political risk for oil and gas operations in this region is high. Somalia is unstable, there are pirates off the coast, and the economies of these countries are very poor. Mozambique, for example, is one of the poorest countries in the world. It is likely that oil and gas drillers will face similar problems on the east side of the continent as they do on the west, where governments have done a poor job distributing wealth generated from oil, often resulting in frustrated citizens who loot and damage drill sites.

Foolish takeaway
Now that East Africa is on its way to becoming an established gas play, midstream development needs to follow. China has already expressed interest in building a pipeline in Tanzania, and South African officials hope the new gas discoveries will help mitigate its energy shortage. Interested investors should keep an eye on pipeline and LNG development in the region.

http://oilbarrel.com/news/its-dj-vu-for-aminex-in-tanzania-as-nyuni-2-is-suspended-without-testing


October 18, 2011

Its DVu For Aminex In Tanzania As Nyuni-2 Is Suspended Without Testing


Followers of Aminex plc must have felt an unwelcome sense of dvu earlier this month when the London-listed E&P announced the suspension of the Nyuni-2 well offshore Tanzania. The news prompted a sharp sell off in the shares, which this week were trading at just over 3 pence


The well was a long-anticipated follow-up to the Nyuni-1 well of 2004, which seasoned investors will remember as a difficult and budget-busting drill that almost broke the London company. While Nyuni-1 failed to deliver the much-hoped-for commercial strike, it did find gas-bearing reservoirs in the Aptian/Albian sandstones that independent consultants later reckoned to hold some 233 BCF of gas-in-place on a Pmean contingent resource basis.Seven years on and Aminex was keen to revisit this highly promising prospect.

Some things have changed in the intervening years: Aminex has already made one gas discovery on the Nyuni licence, the 45 BCF Kiliwani North find of 2008, and Tanzania is now part of one of the hottest exploration plays in the industry: back in 2004, Nyuni-1 was the first well in the country for well over a decade. Aminex itself has also changed: theres a new chief executive, former Sibir Energy boss Stuart Detmer, at the helm with long-standing boss

Brian Hall now Executive Chairman, and theres a better mix of frontier exploration (Tanzania) and stable production (the USA).But some things are very familiar, including the tight funding position and, disappointingly, the results from the latest Nyuni well. Nyuni-2 was drilled from the same surface location on the small Nyuni Island some 30 km off the mainland and was designed to test the same Neocomian sandstones that form the reservoirs in the nearby producing Songo-Songo gas field and Aminexs Kiliwani North gas discovery as well as the Aptian/Albian sandstone reservoir encountered in Nyuni-1. The deviated Nyuni-2 well reached a depth of 3,450 metres and was cased to 2,945 metres but logging was unsuccessful due to obstructions near the base of the well bore. Repeated attempts to drill out the obstructions or to sidetrack round the problem section were also unsuccessful and the drillbit was irretrievably jammed in the well bore, leading to the suspension of the well.

This means the geologically complex Nyuni prospect remains elusive. There were preliminary indications of gases from Neocomian and shallower Cretaceous sands, suggesting the same active petroleum system encountered in Nyuni-1, but this is very far from the material gas strike investors were looking for to justify the expense of the companys long-running commitment to Tanzania (although it does have the Kiliwani North-1 gas discovery, which lies within a couple of miles of existing infrastructure and is slowly moving towards commercialisation via the nearby Songo-Songo processing facilities).

Aminex has a 65 per cent interest in the Nyuni-2 well, alongside RAK Gas with 25 per cent, Bounty Oil with five per cent and Key Petroleum with five per cent. Decisions now need to be made about what next for the project: the wellbore remains valid for re-entry but investor appetite to put another chunk of change behind such a cash-draining business venture is likely to be muted given the results of the first two wells. The licence is home to other prospects and leads that add up to a prospective resource tally of 2.5 TCF on a Pmean basis. These include Okuza at 862 bcf and Fanjove with 377 bcf.

The company does have another project in Tanzania the upcoming Ntorya-1 well alongside Tullow Oil on the onshore Ruvuma PSA in the south of the country and long-suffering investors must be hoping this one delivers some success to trigger a recovery in the share price. Certainly this will be an intriguing drill as there are hopes this well could find the crude oil that has so far proved elusive on the gas-prone East Coast. The well is expected to spud before year-end.

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mnamreh

everything is a buying thing at its right price, not 5.375p not 3.75p but 2.90p or 3p offer was mine.

Just notice my "TIMING" and then you will see who is well informed of went the shares are ready to move higher.
It was only last Wednesday 19th when I said " KEEP an EYE" @ 2.90p

already ahead to 3.15p +0.075p on a small spread and steady buying today