Zenith Energy Share Discussion Threads

[bad gateway] 26/2/2020 07:31

Sounds like the gov of Congo like posters here always wanted the Mengo developed.

[bad gateway] 26/2/2020 07:29

Not expecting news from azer til mid march but still interesting news today imo given the marketcap.
Never thought they'd actually drill the Congo. Might have been wrong.


Zenith Energy intends to drill on the Tilapia licence in Congo Brazzaville in April while planning exploration drilling in Azerbaijan this year.

Combined with the issue of a variety of notes and the acquisition of Coro Energy’s Italian assets, announced in December, “it has been a busy start to the year” for the company, CEO Andrea Cattaneo said. Zenith launched a takeover bid for Anglo African Oil & Gas’ (AAOG) Congo unit at the end of 2019.

“We are actively seeking to enrich our portfolio with the acquisition of AAOG Congo which we believe has the potential to deliver transformational value via successful drilling activities in the Mengo and Djeno horizons. Recent progress has been very encouraging, and I look forward to updating shareholders further in due course,” Cattaneo said.

Zenith’s management visited Congo Brazzaville recently, where it is acquiring an 80% stake in AAOG Congo, which has a 56% stake in the Tilapia licence. The company also has an option to acquire the remaining interest.

Management held talks with local authorities on renewing the licence for a new 25 year term and presented its development plans to Société Nationale des Pétroles du Congo (SNPC). Zenith said talks had involved geological and technical plans for work in the Mengo and Djeno horizons.

SNPC owes $5.3 million to AAOG and Zenith intends to collect on this debt. The statement said it had been encourage in this regard. The Congolese government has pushed for the Mengo to be developed, with the Djeno seen as a longer term opportunity.

Two drilling rigs have been identified to start work, close to the licence. Zenith said both would be rigorously tested. One of the obstacles for AAOG was problems with its rig, which made drilling take much longer than planned.

The core focus for Zenith remains in Azerbaijan. The company is working on various investigations with the State Oil Company of Azerbaijan (SOCAR) and these should be finalised by mid-March.

Zenith is waiting for approval to drill the C-30 well in Azerbaijan and is planning isolation work in the C-37 hole, in order to enhance production from the Middle Eocene.

[fatfish] 26/2/2020 07:21

More hot air turning cold as it rises

No news on AZER

trying to deflect attention to another venture

[dropperking] 26/2/2020 06:47

To be fair most oil down even RRE , it's cheap this , but cheap shares are not a good idea ! Still reckon AC needs to find the odd sock here that's gone missing in AZ .... cheap buy but no Newwwwwssss

[andy] 25/2/2020 22:27

They should throw in the towel, or perhaps a sock would be more appropriate? :-)

[stockport loser] 25/2/2020 14:25

someone put it out of its misery..

[taxibabe] 24/2/2020 14:15

Its alright novum has got this

[fatfish] 24/2/2020 14:13

Rats are leaving the ship thick and fast now as we reach new lows and more to come.

[andy] 24/2/2020 13:14

Stockport,


Yes, 66% down in five months, on no bad news released suggests all is not well somewhere, IMO.


The sudden change of focus to The Congo, and the dearth of news emanating from Azerbaijan suggests that may be the area of investor concern, again IMO.

[stockport loser] 24/2/2020 12:37

sinking full stop

[fatfish] 24/2/2020 08:26

she's sinking lower today

[pjml5337] 21/2/2020 16:06

Don't believe anything Tom says probably a shorter

[andyhooley] 21/2/2020 14:55

LOL

So Tom says see if you can get a few more mugs to subscribe to my rubbish mate or you might not be getting a pay check at all next month

warmest regards,

Andyhooley

[andyhooley] 21/2/2020 13:18

It must be a fact Tom only told him 5 minutes ago when he was giving him his pay check for the month.

[muddy_40] 21/2/2020 13:18

AZ is the major asset they have meantime. If they have lost it then the market should be informed..imo

[muddy_40] 21/2/2020 13:08

They only have one major asset. Is that fact,romour or speculation on shareprophits ?

[garymegson] 21/2/2020 09:07

Well they say a picture speaks a thousand words!https://twitter.com/DavidBurton1971/status/1230749438886342658?s=19