Yet another busy day in terms of volume for Aminex (LON:AEX) . The natural guess is that JP Morgan have been offloading a few more, on top of the 7m they've shifted since the big volume day (and spike in the share price) a week or so ago.
What's intriguing is that someone is obviously very happy to pick up this stock, else the SP would have tanked. No holding declarations about a new holder though but then again, 7m, plus other buys since then could mean they've picked up 10m or so and not need a declaration.
Even more intriguing is that I've been contacted by brokers, asking if I knew of any reason for the surge in volume and price - I don't and neither were they able to offer any reason/rumour.
So what's going on?
The big surge happened well after the rns for the spudding of OM-10 so possibly not related to that then? As it happens, I'm really quite bullish when it comes to our US ops.
So we come to Silly Season - could someone be considering an offer or something with regard to Aminex? Let's face it, one area that's "hot" right now is East Africa and Aex has a sizeable acreage - Nyuni, Ruvuma etc. So let's have some fun. Who might be interested in little old Aminex?
The obvious "problem" is the spread of ops - USA and Tanzania (I'm not going to include Egypt and DPRK). That spread may not appeal to many. However, here's some "starters":
President Petroleum (LON:PPC) - small, backing of Peter Levine (ex Imperial Energy), who bought a 29.9% stake in the old Meridien Petroleum and changed it to PPC. Currently split US and Australia but a "transformational" deal has yet to occur. They've got ops in Louisiana (just increased them in fact - see RNS) that are producing but no sign of the transformational deal. Looking at their website, I'd say that aex's Tanz operations would fit their "mission statement". With PL's backing, financing a deal wouldn't be hard.
Global Petroleum (LON:GBP) - well known to many here. A pile of cash with the US Leighton ops, Malta and the rump exposure to TRP's Uganda play. Again, could see a deal to be done there - US and E Africa.
Moving up the scale somewhat, how about someone who could afford Aex with a few weeks worth of cashflow. Someone with very big acreage in East Africa, in fact, the acreage across the river? Yep, Anadarko. The fit in terms of acreage is v good - Ruvuma/rovuma and the offshore acreage where Cove Energy (LON:COV) is the partner.
If E Africa is "just" gas then gas aggregation to achieve critical mass for LNG is needed. Ironclad, Windjammer, Nyuni, West Songo Songo - it all adds up. Only slight problem is the "small" matter of a certain well in the GoM......
Cove Energy (LON:COV) is another choice but would they want anything to do with AEX US?
Interesting thought is that if we see a failure in OM-10, will the SP fall so low as to give the opportunity of a cheeky takeout offer?
So there's a few starters. This is, as I've said, a Silly Season thread and also done to see how a long new thread with a few whistles comes out posting via the new mobile version of S'pedia. Feel free to laugh and post away.
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