More when I have spoken with Jay as I suspect there is an interesting story...Solo share price seems under pressure, i wonder how they will be funding their 25% share of N-2 and N-3 at .5ml aprox for their share of costs ?
As for what the agreed commercial rate will be - I've said before that I won't be surprised if the figure agreed is conservative.
Aminex’s has contracted a drilling contractor to prepare the well plan and manage the tendering process for the Ntorya-2 well.
The Company intends to drill the Ntorya-2 well to satisfy appraisal drilling obligations and then to apply for a 25-year development licence subject to its success In addition to drilling the two wells, Aminex is planning to recomplete the Ntorya-1 well prior to putting the well on production."thanks peter, so TPDC has not exercised its security interest over the Kiliwani North yet, so not untill end of 2017 will it arise ?
BG In the event that TPDC elects not to take delivery of the pre-determined volume, it will pay for the equivalent of 85% of the agreed commercial rate of gas to be supplied, adjusted each year in accordance with the terms of the GSA.
I have to agree with ngms that the amount in the take or pay deal will be decided by TPDC (in consultation with AEX no doubt) once the test results are in and analysed.