The Lemon Fool

I'm afraid that Aminex will have to double quite a few times before I get my money back...

HaiderAli wrote:About a year later and you've doubled your money. Looks as if the action will be starting soon.

I hate to think for just how many years I've been hearing that story !

Talking of which, any news from EE these days?

Changeable.

I don't think EE would mind me saying that he is doing just fine - as indeed am I.

I think he is fully and gainfully occupied elsewhere - as indeed am I.

Speaking for myself rather than him, I'm now in my 8th decade and have reduced the amount of time I spend on investment and increased the amount of time I spend doing things that are worthwhile. Fortunately most of the worthwhile things require little in the way of expenditure.

I'm finding that doing things on a voluntary basis that are socially beneficial is much more interesting and fulfilling than obsessing about beating the markets.

Yesterday marked the first time that Aminex used their Twitter account in four years. Obviously there's been progress since, but I take this as a sign that they do really now think that things will be moving!

This detailed document spells out in some detail what they believe they are looking at:

http://admin.aminex-plc.com/uploadfiles ... 0final.pdf

In summary, it's the biggest gas discovery in East Africa, with implications for Tanzania as a whole. That's not necessarily all positive, because I guess it means that the politicians will be all over this and hence delays - which have been numerous.

OTOH there are national elections next year - perhaps that will focus minds at the top. The release of this news must raise questions amongst the electorate about why they aren't benefitting now from the riches under their feet.

The current wait is for the development licence and it seems as if once that has been received various workstreams will resume.

It should be an interesting year. At the current SP I think the market believes that either the project won't happen and/or someone will take out AEX for a pittance. My view (and it has been this for some time now) is that ARA (the Omani operator) and who also own 29% of AEX want to use the listing as a fund-raising vehicle. They'll certainly need more money if they are going after several TCF of (onshore) gas. Yes, you read that right.

But I'd expect that to happen after some concrete developments when the SP is well north of where it is now.