Aminex Plc · LSE:AEX
Aminex — Shareholder Meeting (May 2022)
16 slides from Aminex's shareholder meeting presentation, May 26, 2022
Slide 1: AGM Thursday 26 May 2022
AGM Thursday 26 May 2022 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 since 2002 with strong relations with Government of Tanzania ❑ Multi TCF Tanzanian gas resource base ❑ Company’s key gas asset, Ruvuma, carrie
Slide 4: Strategy
Strategy Aminex’s non-operating strategy has enabled the Company to de-risk while anchoring shareholder value. The strategy rests on four pillars: I. Successful completion of the Ruvuma Farm-Out to ARA Petroleum Tanzania Limited (“APT”), a highly competent and well-funded operator II. Significant co
Slide 5: Corporate
Corporate • Following the successful equity raise of $4.4 million (before expenses), preservation of cash until receipt of Ruvuma revenues is key. • Board will continue to keep all G&A costs under close scrutiny: – In 2019, the then Board targeted reduction of G&A costs by ~30% from 2018 levels. Exc
Slide 6: Asset overview
Asset overview With the proposed return of the Nyuni Area PSA, Aminex aims to de-risk its portfolio of gas assets to focus on near-term Existing pipeline: production in order to maximise shareholder value Aminex acreage: Development Kiliwani North (64% interest - operated) • Produced 6.5 BCF to date
Slide 7: Kiliwani North – Partial 3D Acquisition
Kiliwani North – Partial 3D Acquisition PAET, Operator of the Songo Songo Field propose to acquire 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 JV,
Slide 8: Background to Ruvuma PSA
Background to Ruvuma PSA Gas field • Aminex 25% non-operated working Ntorya Location interest fully carried to maximum net TPDC Pipeline spend of $35 MM under Farm-Out Country Border* (equivalent to $140 MM gross field) Proposed well • Two-year licence extension received Drilled well August 2021 TAN
Slide 9: Ntorya gas field conceptual development
Ntorya gas field conceptual development ➢ Farm-Out to APT designed to fully carry Aminex for the entire “Best Case” development scenario identified in 2017 io commercialisation report (gross production rate: 140 MMcfd; gross cumulative production: 777 BCF; gross total spend Conceptual Production For
Slide 10: Ruvuma Farm-Out
Ruvuma Farm-Out Significant ongoing gas development fully carried by affiliate of cornerstone investor ➢ APT, Tanzanian affiliate of Zubair Group, will carry Aminex for $35 million of costs in the Ntorya gas field development alongside its own share of $70 million investment in the project Ruvuma es
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: APT – Ntorya - New Interpretation of 2D Seismic Data
APT – Ntorya - New Interpretation of 2D Seismic Data 12
Slide 13: Market overview
Market overview Strong local market fundamentals with clear social and environmental benefits Macro • Sustained high GDP growth averaging 6% in Tanzania over the past ten years1 • Significant existing natural gas transportation and processing infrastructure • Increasing economic stability (inflation
Slide 14: Tanzanian domestic gas market
Tanzanian domestic gas market Multiple drivers supporting the opportunity for growth in the Tanzanian gas market Current and forecast demand Current supply • Current installed demand from power generation • 2020 production totalled 128 MMcfd 163 MMcfd • Tanzania installed processing capacity of 465
Slide 15: In conclusion…
In conclusion… 1 Large supportive cornerstone investor in Company with key asset Low-cost Company with no debt and cash to meet forecasted costs to 2 end-2024 3 Operating in gas market with drivers for strong growth 4 $35 MM carry for development of key exploration / appraisal asset Multiple signifi
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