Aminex Plc · LSE:AEX
Aminex — Shareholder Meeting (June 2024)
30 slides from Aminex's shareholder meeting presentation, Jun 27, 2024
Slide 1: Annual General Meeting
Annual General Meeting Thursday 27 June 2024 London Stock Exchange: AEX 1 www.aminex-plc.com
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: Introduction
Introduction • From explorer to developer • Our portfolio • Why Tanzania 33
Slide 4: From explorer to developer
From explorer to developer Aminex is an independent explorer on the cusp of a great growth trajectory. We are a founding partner in Ntorya, Tanzania’s largest onshore gas development. We are effectively financed until first gas and receipt of first revenues. 44
Slide 5: From explorer to developer
From explorer to developer Aminex is an independent explorer on the cusp of a great growth trajectory. We are a founding partner in Ntorya, Tanzania’s largest onshore gas development. We are effectively financed until first gas and receipt of first revenues. Since 2020, we have: • Revived Aminex • D
Slide 6: From explorer to developer
From explorer to developer Aminex is an independent explorer on the cusp of a great growth trajectory. We are a founding partner in Ntorya, Tanzania’s largest onshore gas development. We are effectively financed until first gas and receipt of first revenues. Since 2020, we have: • Revived Aminex • D
Slide 7: From explorer to developer
From explorer to developer Aminex is an independent explorer on the cusp of a great growth trajectory. We are a founding partner in Ntorya, Tanzania’s largest onshore gas development. We are effectively financed until first gas and receipt of first revenues. Since 2020, we have: • Revived Aminex • D
Slide 8: Our portfolio
Our portfolio Aminex has focused its activities on Tanzania for over 20 years and holds interests in three licences in-country: Ruvuma (25% interest – non-operated) • Contains the Ntorya gas development • 25-year Development Licence granted in 2024 • Initial gas production will increase Tanzanian ou
Slide 9: Why Tanzania?
Why Tanzania? Strong local market fundamentals with clear social and environmental benefits • Tanzania is a stable East African country with a resilient economy and growing population • Sustained high GDP growth has averaged over 5.5% over the past ten years1 • There is significant existing natural
Slide 10: Why Tanzania? Energy demand is rising
Why Tanzania? Energy demand is rising • Tanzania’s population is growing fast; today’s 69 million is projected to rise to between 120 and 140 million by 20505 • Only ~33% of Tanzanians have access to electricity today and 7.7 million households are without access to power6 • Short-falls in electrici
Slide 11: Why Tanzania? Gas as part of energy transition
Why Tanzania? Tanzanian authorities say they want gas to be part of the country’s energy transition • Tanzania says it needs higher gas production to fuel its rapid economic growth • But natural gas will also be part of Tanzania’s energy transition • Gas is a cleaner form of energy compared with exi
Slide 12: Ntorya Gas Development
Ntorya Gas Development • Milestones • Development Licence • Clear path to first gas • Ruvuma 3D seismic – the phenomenal potential 1212
Slide 13: Ntorya Gas Development: Milestones achieved
Ntorya Gas Development Milestones achieved We have achieved these milestones in the past 18 months: ✓ An addendum to the Ruvuma PSA containing the fiscal terms for gas production was signed in November 2022. ✓ The completion of the processing of 3D seismic data, the largest onshore seismic campaign
Slide 14: Milestones achieved: share price
Ntorya Gas Development Milestones achieved Which has helped reinvigorate our share price: 1414
Slide 15: Locked in for 25 years
Ntorya Gas Development Locked in for 25 years The Development Licence divides the ‘Mtwara Exploration Licence’ area into nine blocks: five blocks containing the Ntorya discovery and four blocks labelled the “adjoining blocks”. The Ruvuma JV parties are required to undertake the following work progra
Slide 16: Clear path to first gas
Ntorya Gas Development Clear path to first gas With receipt of the 25-year Development Licence, the Operator is now able to finalise its plans with all relevant stakeholders for a clear path to first gas from Ntorya. Over the next 18 months, the following workstreams will be progressed to optimise g
Slide 17: Clear path to first gas: Ntorya-2 well test
Ntorya Gas Development Clear path to first gas With receipt of the 25-year Development Licence, the Operator is now able to finalise its plans with all relevant stakeholders for a clear path to first gas from Ntorya. Over the next 18 months, the following workstreams will be progressed to optimise g
Slide 18: Clear path to first gas: Chikumbi-1 drilling
Ntorya Gas Development Clear path to first gas With receipt of the 25-year Development Licence, the Operator is now able to finalise its plans with all relevant stakeholders for a clear path to first gas from Ntorya. Over the next 18 months, the following workstreams will be progressed to optimise g
Slide 19: Clear path to first gas: Ntorya-1 workover
Ntorya Gas Development Clear path to first gas With receipt of the 25-year Development Licence, the Operator is now able to finalise its plans with all relevant stakeholders for a clear path to first gas from Ntorya. Over the next 18 months, the following workstreams will be progressed to optimise g
Slide 20: Clear path to first gas: Spur pipeline to Madimba
Ntorya Gas Development Clear path to first gas With receipt of the 25-year Development Licence, the Operator is now able to finalise its plans with all relevant stakeholders for a clear path to first gas from Ntorya. Over the next 18 months, the following workstreams will be progressed to optimise g
Slide 21: Ruvuma 3D Seismic: APT's Resource Potential Report
Ruvuma 3D Seismic APT’s Resource Potential Report 2121
Slide 22: Ruvuma 3D Seismic: Xline 5165
Ruvuma 3D Seismic Xline 5165 2222
Slide 23: Ruvuma PSA Play Types
Ruvuma PSA Play Types Proven in 3D Partially de-risked! NT-2 NT-1 LK-1 Neogene-Recent | l eee Mnazi Bay Play ™ (Onshore Discovery) i Sands aon. inweit Mamba Play [~"S-=~ (Offshore Discoveries) — — 7 Erosional surfaces”
Slide 24: Ruvuma 3D Seismic: Inline 1520
Ruvuma 3D Seismic Inline 1520 2424
Slide 25: Ruvuma 3D Seismic: Extent of Ntorya Discovery
Ruvuma 3D Seismic Extent of Ntorya Discovery 2525
Slide 26: Ruvuma 3D Seismic: Prospect & Lead Outlines
Ruvuma 3D Seismic Prospect & Lead Outlines 2626
Slide 27: Finance and Corporate
Finance and Corporate ◊ The Company expects existing funds to meet all running costs until at least the end of 2024, subject to any exceptional items. ◊ The funding facility for $3 million put in place with the Company’s largest shareholder, Eclipse Investments, ensures the Company will have suffici
Slide 28: Finance and Corporate
Finance and Corporate The Board continues to scrutinise all G&A costs with the intention of keeping costs under control. ◊ G&A costs for 2023 of $1.58 million (excluding non-cash costs and one-off items) were slightly up on 2022 due to inflationary increases, but are still 70% lower than 2018 levels
Slide 29: Conclusion
Conclusion ▪ Revived low-cost Company with no current debt and cash to meet forecasted costs to Q4 2024 ▪ Funding facility to meet running costs to first gas ▪ Large supportive cornerstone investor in Company with key asset and partnered with strong and competent operator ▪ Delivered key milestones
Slide 30: London Stock Exchange: AEX www.aminex-plc.com
London Stock Exchange: AEX 30 www.aminex-plc.com