AMINEX HAS farmed out the development of its gas discovery in Tanzania with a $105m development deal, wherein it is fully carried through to full production and looking at a potential distributable annual $40m net cash flow in two years. The stock market has, however, responded in a contradictory manner, with the share price falling steeply from the 7p it hit two years ago in March 2017, just after it succeeded with its second successful gas discovery well in its onshore Ruvuma gas field.
The shares are at just 1p. This is hard to explain given the two successful discovery gas wells, with a third appraisal well about to be drilled onshore, followed by a fully funded six-well development and a pipeline development programme. Indeed, Aminex shares appear to be incredibly low risk.