Aminex
A significant resource upgrade today from RPS which is
way better than had been expected. This and other data from io, confirms the
feasibility of developing the Ntorya gas
field for commercial production. The Ntorya Pmean GIIP is increased to 1.87
TCF, an increase of 44% on managements latest estimates (1.3 TCF) and 12x the
previous CPR. The 2C gross contingent resources number is up 11x from previous
CPR at 762.8 BCF.
These numbers significantly exceed management’s
expectations and without doubt put its acreage in Tanzania on the highest
quality footing for the future. As a substantial player in country Aminex can
expect to be able to proceed with limited upfront expenditure and use revenues
‘to enable cash-flow funded further development’, in what is a now realistic
and achievable proposition. Aminex has now for once and for all become of
significant strategic importance to the Tanzanian economy even if that means
getting infrastructure funding for the pipeline.
With a highly supportive cornerstone shareholder
encouraging the highly qualified and entrepreneurial management, shareholders
can look forward to an exciting run in
Tanzania and now that executive time can be spared it would come as no surprise
to see some geographical expansion for Aminex. Even after the 18% rise at time
of writing I consider that the shares should at least head back to highs
achieved only a year ago.
Source. Malcys Blog