Aminex Plc · LSE:AEX
Aminex — Shareholder Meeting (July 2023)
19 slides from Aminex's shareholder meeting presentation, Jul 13, 2023
Slide 1: AGM
AGM Thursday 13 July 2023 London Stock Exchange: AEX www.aminex-plc.com 11
Slide 2: Disclaimer
Disclaimer Certain information contained herein constitutes forward-looking statements, which can be identified by the use of forward- looking terminology such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “should” or “will”, or, in each case, their neg
Slide 3: Aminex at a glance
Aminex at a glance Tanzania gas exploration and development company for the domestic market Standard listed on London Stock Exchange Operated in Tanzania for more than twenty years Strong relations with Government of Tanzania Multi TCF Tanzanian gas resource base Company’s key gas asset, R
Slide 4: Strategy
Strategy Move from an operating to a non-operating business, de-risking the business and anchoring shareholder value. I. We have shifted operational risk on our most valuable and important asset, Ruvuma, to a highly competent, capable and well-funded operator-- ARA Petroleum Tanzania Limited (“APT”)
Slide 5: Finance and Corporate
Finance and Corporate • Our successful equity raise of $4.35 million (before expenses) in April 2022, and our efforts through cost-cutting to preserve cash until receipt of Ruvuma revenues is a key element of our de-risking strategy. • The Board continues to scrutinise all G&A costs with the intenti
Slide 6: Asset overview
Asset overview Appraisal / Development Existing pipeline: Ruvuma (25% carried interest - non-operated) Aminex acreage: • Track record of successful exploration drilling in contract area • Projected $140 million of investment into asset (Aminex fully carried) • Appraisal and development programme ong
Slide 7: Kiliwani North – Partial 3D Acquisition
Kiliwani North – Partial 3D Acquisition PAET, Operator of the Songo Songo Field is currently acquiring 3D seismic over a large part of their block – full coverage to the Songo Songo-KNDL boundary requires acquisition within KNDL resulting in 12.5km2 full fold cover over KNDL. At no cost to the KNDL
Slide 8: Background to Ruvuma PSA
Background to Ruvuma PSA Gas field • Aminex 25% non-operated working Ntorya Location interest fully carried to maximum TPDC Pipeline net spend of $35 MM under Farm- Country Border* Out (equivalent to $140 MM gross Proposed well field) Drilled well TANZANIA • Two-year exploration licence extension re
Slide 9: Status update on Ruvuma - operations and commercial
Status update on Ruvuma - operations and commercial Since last year’s AGM, the Operator, working closely with the Tanzanian authorities, has made substantial progress on the asset: • The seismic acquisition programme, the largest 3D survey in onshore East Africa, was completed by the Operator in Oct
Slide 10: Ruvuma Operations – The Remainder of 2023
Ruvuma Operations – The Remainder of 2023 The Operator: • Has chosen a new optimal target location of the Chikumbi-1 well (“CH-1”), which has been approved by the partners and provisionally approved by the Tanzanian authorities, with final written approval expected soon. • Has fully processed the 3D
Slide 11: Ruvuma exploration success
Ruvuma exploration success Proven track record of exploration success on Ruvuma 9 Blue bars represent estimated gross unrisked Mean GIIP 8 8.236 7 6 5 TCF 4 Jurassic potential to be tested by 3.221 3 Chikumbi-1 1.351 2 1.87 1 1.344 0.466 763 BCF 0.153 0 (2C) May 2015 May 2017 September 2017 February
Slide 12: 3D Seismic tie-line NT-2 – NT-1
3D Seismic tie-line NT-2 – NT-1 12
Slide 13: Reservoir development model along tie-line
Reservoir development model along tie-line 13
Slide 14: Random line showing chaotic slump deposits
Random line showing chaotic slump deposits 14
Slide 15: Random line showing tie to wells and old CH-1 location
Random line showing tie to wells and old CH-1 location 15
Slide 16: Market overview
Market overview Strong local market fundamentals with clear social and environmental benefits Macro • Sustained high GDP growth averaging 5.5% in Tanzania over the past ten years1 • Significant existing natural gas transportation and processing infrastructure • Increasing economic stability (inflati
Slide 17: Tanzanian domestic gas market
Tanzanian domestic gas market Multiple drivers supporting the opportunity for growth in the Tanzanian gas market In its Research Note on Aminex, published in May 2023, Shard Capital Partners noted the following observations on the Tanzanian gas market: • There are only two producing assets in Tanzan
Slide 18: In conclusion…
In conclusion… Large supportive cornerstone investor in Company with key asset and 1 partnered with strong and competent operator Low-cost Company with no debt and cash to meet forecasted costs to 2 Q4 2024 Operating in country with supportive government and significant 3 gas market as well as globa
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