Proactiveinvestors Australia Aminex PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia Aminex PLC RSS feed en Tue, 23 Jul 2019 09:19:28 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719164040_14156906/ Sat, 20 Jul 2019 01:40:40 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719164040_14156906/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719163525_14156898/ Sat, 20 Jul 2019 01:35:25 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719163525_14156898/ <![CDATA[RNS press release - Ruvuma Farm-Out Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719160001_14156862/ Sat, 20 Jul 2019 01:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190719160001_14156862/ <![CDATA[RNS press release - CHANGES TO LISTING STATUS ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190627160001_14127724/ Fri, 28 Jun 2019 01:00:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190627160001_14127724/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190620140004_14118671/ Thu, 20 Jun 2019 23:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190620140004_14118671/ <![CDATA[RNS press release - Replacement - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190613153447_14110359/ Fri, 14 Jun 2019 00:34:47 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190613153447_14110359/ <![CDATA[RNS press release - Result of Annual General Meeting ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190612160754_14108729/ Thu, 13 Jun 2019 01:07:54 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190612160754_14108729/ <![CDATA[RNS press release - AGM Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190612100002_14108022/ Wed, 12 Jun 2019 19:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190612100002_14108022/ <![CDATA[RNS press release - Board and Management Changes ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190524070009_14086078/ Fri, 24 May 2019 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190524070009_14086078/ <![CDATA[RNS press release - Publication of Circular and Notice of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190517163001_14079053/ Sat, 18 May 2019 01:30:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190517163001_14079053/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190430114809_14057389/ Tue, 30 Apr 2019 20:48:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190430114809_14057389/ <![CDATA[RNS press release - Final Results, Annual Report and AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190430070014_14056336/ Tue, 30 Apr 2019 16:00:14 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190430070014_14056336/ <![CDATA[RNS press release - Ruvuma Farm-Out Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190321070008_14009946/ Thu, 21 Mar 2019 18:00:08 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190321070008_14009946/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190301070005_13986343/ Fri, 01 Mar 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190301070005_13986343/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190215170002_13971716/ Sat, 16 Feb 2019 04:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190215170002_13971716/ <![CDATA[RNS press release - Euronext Dublin Market Notice ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190214080001_13969244/ Thu, 14 Feb 2019 19:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190214080001_13969244/ <![CDATA[RNS press release - Kiliwani Programme Acceleration & Capital Raise ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190207094313_13961739/ Thu, 07 Feb 2019 20:43:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190207094313_13961739/ <![CDATA[RNS press release - Directorate Change and Board Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190204070006_13956341/ Mon, 04 Feb 2019 18:00:06 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190204070006_13956341/ <![CDATA[RNS press release - Directorate Change and Appointment of Joint Broker ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190110070007_13929641/ Thu, 10 Jan 2019 18:00:07 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190110070007_13929641/ <![CDATA[RNS press release - Result of EGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190104134514_13924572/ Sat, 05 Jan 2019 00:45:14 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190104134514_13924572/ <![CDATA[RNS press release - EGM Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190104110001_13924274/ Fri, 04 Jan 2019 22:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20190104110001_13924274/ <![CDATA[RNS press release - Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181217070005_13905286/ Mon, 17 Dec 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181217070005_13905286/ <![CDATA[RNS press release - Kiliwani Operations Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181210070005_13896677/ Mon, 10 Dec 2018 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181210070005_13896677/ <![CDATA[RNS press release - Publication of Class 1 Circular and Notice of EGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181207123004_13896142/ Fri, 07 Dec 2018 23:30:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181207123004_13896142/ <![CDATA[RNS press release - Ruvuma Farm-Out Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181121070003_13874277/ Wed, 21 Nov 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181121070003_13874277/ <![CDATA[RNS press release - Kiliwani North and Nyuni Area Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181004070004_13815742/ Thu, 04 Oct 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181004070004_13815742/ <![CDATA[RNS press release - Corporate Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181001070006_13810160/ Mon, 01 Oct 2018 16:00:06 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20181001070006_13810160/ <![CDATA[RNS press release - 2018 Half-yearly Report ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180928070004_13807968/ Fri, 28 Sep 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180928070004_13807968/ <![CDATA[RNS press release - Kiliwani North Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180829070005_13770539/ Wed, 29 Aug 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180829070005_13770539/ <![CDATA[RNS press release - Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180823070005_13765286/ Thu, 23 Aug 2018 16:00:05 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180823070005_13765286/ <![CDATA[RNS press release - Update on Board Changes ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180816070012_13757297/ Thu, 16 Aug 2018 16:00:12 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180816070012_13757297/ <![CDATA[RNS press release - Corporate Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180717100002_13720602/ Tue, 17 Jul 2018 19:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180717100002_13720602/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180716070510_13718275/ Mon, 16 Jul 2018 16:05:10 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180716070510_13718275/ <![CDATA[RNS press release - Turner Pope Investor Evening ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180713161504_13717914/ Sat, 14 Jul 2018 01:15:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180713161504_13717914/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180713150002_13717784/ Sat, 14 Jul 2018 00:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180713150002_13717784/ <![CDATA[RNS press release - Chairman Announces Intention to Stand Down ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180712161503_13716211/ Fri, 13 Jul 2018 01:15:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180712161503_13716211/ <![CDATA[Media files - Aminex agrees 'transformational' farm-out deal for Ntorya in Tanzania ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9831/aminex-agrees-transformational-farm-out-deal-for-ntorya-in-tanzania-9831.html Thu, 12 Jul 2018 08:30:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9831/aminex-agrees-transformational-farm-out-deal-for-ntorya-in-tanzania-9831.html <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711180002_13714588/ Thu, 12 Jul 2018 03:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711180002_13714588/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711140033_13714254/ Wed, 11 Jul 2018 23:00:33 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711140033_13714254/ <![CDATA[RNS press release - Annual General Meeting Presentation ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711113003_13714026/ Wed, 11 Jul 2018 20:30:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711113003_13714026/ <![CDATA[RNS press release - Transformational Ruvuma Farm-Out ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711103003_13713852/ Wed, 11 Jul 2018 19:30:03 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180711103003_13713852/ <![CDATA[News - Aminex shares soar as it inks farm-out agreement with Omani conglomerate ]]> https://www.proactiveinvestors.com.au/companies/news/200578/aminex-shares-soar-as-it-inks-farm-out-agreement-with-omani-conglomerate-200578.html Aminex plc (LON:AEX) shares soared in mid-afternoon trading Wednesday after it signed a binding farm-out agreement with Omani industrial conglomerate The Zubair Corporation.

The Africa-focused oil and gas producer said that in exchange for 50% of its working interest in the Ruvuma production sharing agreement (PSA), Zubair would conduct a minimum work programme including the drilling, completion, and testing of the Chikumbi-1 well; acquiring, processing and interpreting 3D seismic data over a minimum of 200 square kilometres within the Ntorya project area; and establish an early production system to achieve accelerated first gas development at Ntorya to a minimum gross rate of 40mln cubic feet of gas per day (MMcf/d), around 6,700 barrels equivalent.

WATCH: Aminex agrees 'transformational' farm-out deal for Ntorya in Tanzania

The company also said Zubair would pay US$5mln in cash in addition to fully carrying up to US$35mln in costs regarding the development of Aminex’s remaining 25% interest in the Ruvuma PSA, which would include the Ntorya project and was expected to be developed to production without the need for new funding by Aminex.

Aminex added that the agreement would accelerate development of its principal asset while also substantially reducing risks to the project.

Aminex chief executive Jay Bhattacherjee said: "With the Ntorya project carried to a minimum level of production it is now expected that the Company will be self-funded for further development,”

“Aminex continues to develop its Kiliwani and Nyuni assets and is undertaking a review of other opportunities which will deliver robust shareholder returns."

The announcement was also noted by AIM-listed oiler Solo Oil PLC (LON:SOLO), who also saw its shares jump as it holds a 25% interest in the Ntorya project.

Aminex also said in a separate announcement that it would hold its Annual General Meeting at 2pm today.

Aminex shares were up 28% at 2.8p, while Solo Oil shares were up 26% at 2.9p.

--Adds additional detail and updates share prices--

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Wed, 11 Jul 2018 12:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200578/aminex-shares-soar-as-it-inks-farm-out-agreement-with-omani-conglomerate-200578.html
<![CDATA[RNS press release - ANNUAL REPORT AND NOTICE OF AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180430090002_13623342/ Mon, 30 Apr 2018 18:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180430090002_13623342/ <![CDATA[RNS press release - PRELIMINARY RESULTS ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180427121502_13621977/ Fri, 27 Apr 2018 21:15:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180427121502_13621977/ <![CDATA[News - Aminex financials improve as production rises and Ntorya project advances ]]> https://www.proactiveinvestors.com.au/companies/news/195965/aminex-financials-improve-as-production-rises-and-ntorya-project-advances-195965.html Aminex plc’s (LON:AEX) full year results statement reflect a business stepping up, as gas production rises in Tanzania.

Whilst the focus has been on the larger Ntorya discovery, which has been successfully appraised, the group’s current production asset Kiliwani North has seen improved output.

The single-well Kiliwani North field yielded 3.6bn cubic feet of gross production for the year, up from 2.78bn in the preceding twelve month period.

READ: Aminex in talks over partial sale of Ntorya gas project

Aminex generated US$6.63mln of revenue, up 34% from the US$4.93mln in 2016, and, the company said there was some US$6.94mln of owed gross receivables for gas sales which equated to US$2.7mln net to the company. It reported a US$2.27mln loss attributable to equity holders.

The company noted that it repaid its corporate loan in full in June and it ended the year with a cash balance of US$6.23mln.

Ntorya will in time bolster production. The recently drilled Ntorya-2 well tested at arate of 17mln cubic feet per day and the project was estimated to host some 763bn cubic feet of gas.

The project is the subject of partnership interest, with talks taking place with Oman’s Zubair Corporation over a potential farm-out deal as plans for the next well advance.

"The success of the Ntorya-2 well and subsequent technical work has contributed to a substantial increase in the 2C Contingent resource,” said Jay Bhattacherjee, Aminex chief executive.

“The well planning for Chikumbi-1 is at an advanced stage and we are in discussions with the Zubair Corporation for a possible farm-out of part of Aminex's interest in Ruvuma."

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Fri, 27 Apr 2018 13:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195965/aminex-financials-improve-as-production-rises-and-ntorya-project-advances-195965.html
<![CDATA[RNS press release - Ruvuma Operational Update ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180409082517_13596002/ Mon, 09 Apr 2018 17:25:17 +1000 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180409082517_13596002/ <![CDATA[News - Aminex updates on drill preparations as ‘advanced’ Ruvuma farm-out talks continue ]]> https://www.proactiveinvestors.com.au/companies/news/194503/aminex-updates-on-drill-preparations-as-advanced-ruvuma-farm-out-talks-continue-194503.html Aminex plc (LON:AEX) told investors it remains in “advanced discussions” with Zubair Corporation over a potential farm-out of the Ruvuma asset, including the Ntorya discovery and appraisal area, meanwhile, it also updates on present operations in Tanzania.

As part of preparations for the next planned drill programme the company has agreed to a Tanzania government request to change name of the proposed Ntorya-3 well which will now be referred to as Chikumbi-1.

READ: Aminex in talks over partial sale of Ntorya gas project

Whilst Chikumbi-1 will be a test of the same reservoirs seen in Ntorya-1 and Ntorya-2 , in an up-dip location, it is also intending to test a deeper target too. The well will be drilled down to 3,000 feet, Aminex said.

It is expected that a rig tendering process to close during the current quarter, and the spud-date is anticipated later this year (though exact timing will depend upon rig availability).

Aminex also said that the Tanzanian authorities have approved an environmental impact assessment for a proposed programme of 2D and 3D seismic acquisition over the Ruvuma acrea, and it noted that the focus will be on the Ntorya discovery area.

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Mon, 09 Apr 2018 09:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194503/aminex-updates-on-drill-preparations-as-advanced-ruvuma-farm-out-talks-continue-194503.html
<![CDATA[RNS press release - Possible Transaction ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180321140001_13575958/ Thu, 22 Mar 2018 01:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180321140001_13575958/ <![CDATA[News - Aminex farm-out agreement should kick-start Ruvuma PSA development, says Shore ]]> https://www.proactiveinvestors.com.au/companies/news/193570/aminex-farm-out-agreement-should-kick-start-ruvuma-psa-development-says-shore-193570.html Aminex plc’s (LON:AEX) farm-out agreement with Omani industrial conglomerate The Zubair Corporation is a pragmatic solution to the funding required to develop Ruvuma, says house broker Shore Capital.

In exchange for 50% of its working interest in the Ruvuma production sharing agreement (PSA), Zubair will conduct a minimum work programme including the drilling, completion, and testing of the Chikumbi-1 well; a 3D seismic data survey over 200 square kilometres within the Ntorya project area; and establish an early production system to achieve first gas at Ntorya to a rate of 40mln cubic feet of gas per day (MMcf/d).

READ: Aminex financials improve as production rises and Ntorya project advances

Zubair would also pay US$5mln in cash in addition to fully carrying up to US$35mln in costs regarding the development of Aminex’s remaining 25% interest in the Ruvuma PSA, which would include the Ntorya project.

Jay Bhattacherjee, chief executive, said: "With the Ntorya project carried to a minimum level of production it is now expected that the Company will be self-funded for further development,”

“Aminex continues to develop its Kiliwani and Nyuni assets and is undertaking a review of other opportunities which will deliver robust shareholder returns."

Updating its forecast following the Zumbair signing, house broker Shore said the deal should accelerate the development of the flagship Ntorya project and carry Aminex through to a minimum gross production rate of 40mmcfd or enough for full field development.

“We therefore expect the proposed transaction to eliminate funding risks (which had previously been very evident) and kick-start a major work programme (with an implied US$140m gross value) following a period of relative inactivity.”    

Shore expects commercial production from Ntorya by early 2020, with a net profit of US$12.5mln for that year.

Cash generation should be sufficient also to provide financial flexibility for potential drilling at Kiliwani South and 3D seismic data acquisition at Nyuni. 

Three well programme

Ntorya’s contingent gas resource has now risen to 762.8bn cubic feet of gas, comprising 80.6bn cubic feet of gas that’s described as pending development – to be addressed by the planned initial three well operation.

Two of the three wells have so far been drilled, and the third is due later this year. The gas would be connected to a gas plant located some 33 kilometres away.

“The [Zubair] deal provides an excellent basis for future value creation, enabling Aminex to participate in a meaningful way (and on a fully funded basis) in an active work programme targeting early production and very substantial resource potential.

“Ultimately, a funding solution was needed and has now been found, and we look forward to near term catalysts including drilling of the Chikumbi-1 well.”

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Wed, 21 Mar 2018 14:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193570/aminex-farm-out-agreement-should-kick-start-ruvuma-psa-development-says-shore-193570.html
<![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180205164052_13522177/ Tue, 06 Feb 2018 03:40:52 +1100 https://www.proactiveinvestors.com.au/companies/rns/3406/LSE20180205164052_13522177/