nyuni #2, page-19

Some snippets posted over at Stockopedia by an attendee, tauroctinus, at the AGM:

The rig up for Nyuni 2 is going well and should spud early next week with 74 days expected to drill.

If a big discovery is made Songo Songo will be unable to deal with it.

The company is busy commercialising KN1-it will happen-frustrating-Lots of detailed engineering work being done-continuous process-early 2012-cost of pipeline $3M-commercial issues but Tz needs gas.

Signing of new licence including 4 new blocks to N is not a concern-good relations with Tz government-lots and lots of delay due bureaucracy. Fanjove next well-sometime 2012.

West Songo Songo-nothing happening-Key sitting on hands-AEX may takeover at some stage.

After meeting spoke to some directors. Asked BH which would be signed first- new licence or KN1 agreement.

He said new licence without hesitation. KN1 has been advanced by development approval, but negotiations are complicated being a blend of commercial concerns, engineering and regulatory issues-frustrating.