Zenith Energy Share Discussion Threads

[muddy_40] 18/9/2020 08:28

BG.
The Tunisia deal is still waiting the approval of the Tunisian authority.

From last RNS.
"Completion of the SPA is conditional on approval being granted by the Comité Consultatif des Hydrocarbures ("CCH") of the Republic of Tunisia in respect of the transfer of the Seller's right, title and interest in and under the SLK Concession to Zenith Netherlands ("Completion")."

And

"The Company is expecting regulatory approval from the CCH in relation to the Tunisian Acquisition from KUFPEC in due course."

So still waiting for final approval.

Nothing is ever as it seems with ZEN.

These fields were at 20k production once upon a time, now at 700 bopd. Sounds like AZ the biggest onshore field in Azerbaijan.. remember that one..642 M2..rolled off his tongue every interview.

Just saying.

If when the 2019 results come out and AC has not paid himself exuberant bonuses like in 2018 results for a loss making, Share price descending company, I will never post on a Zen blog again.

I give you my word on that. So it is all down to ACs 2019 bonuses..no pressure AC..lol

[grannyboy] 18/9/2020 08:11

What's happened to those Arabs buying shares at 2.5p?

[andy] 18/9/2020 08:11

BAd G,


"is progressing in negotiations"

"has also entered into negotiations"

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That doesn't sound like "funding sorted" to me.

[bad gateway] 18/9/2020 08:03

So tunisia hasn't happened. lol mudstud you do post some nonsense here and on lse.

[bad gateway] 18/9/2020 07:56

This is more what I meant by funding sorted first andy..

"Non-equity development funding

The Company can confirm that it is progressing in negotiations, first announced to the market on March 2, 2020, with an international oil major in order to provide funding for Zenith's development objectives in Africa in the form of an offtake agreement.

Further, the Company has also entered into negotiations with two pan-African financial institutions for a loan facility that will be used to fund the acquisition and development of Zenith's growing portfolio in West Africa."

Seems a reasonable comment given the newsflow on the licence.

[grannyboy] 18/9/2020 07:36

And what are you actually correcting that I've stated is incorrect???

Six months to go through the licensing process, then there is all the permits etc, two years at the earliest !!

[andy] 18/9/2020 07:35

Bad G,

"we have already received positive indications"

---

Is that what you call "funding sorted"?

[piperinger] 18/9/2020 07:34

Is it just the prep for the upcoming dilution?

[bad gateway] 18/9/2020 07:24

If it didn't have funding I'd agree with you muddy but its always the funding holds these smallcaps up.
No trades- no doubt no one can believe zens showing signs of starting to have positive newsflow, getting their eyes checked first.

[muddy_40] 18/9/2020 07:19

That will drag it out a good couple of years..I wonder how much bonuses he will manage to claim in that time.

Is it still in auction after that ground breaking news..I don't see any buys yet..;-))

[grannyboy] 18/9/2020 07:10

Winning the national lottery is appealing .. You have just admitted yourself that it will take 6 months for the licence process, they have then to get all the permits, etc, planning, contract a rig, etc, yes etc.. What did I state that was.incorrect?

[bad gateway] 18/9/2020 06:56

He hasn't granny you're getting confused with your RBD no doubt..
From the original RNS.. you know the one the bears said nothing would come of..

"Among the 57 Marginal Fields included in the 2020 Bid Round, there are specific assets which are particularly appealing to Zenith, especially on account of their compatibility with our development objectives. Indeed, the near-term production potential of certain assets is expected to facilitate the achievement of financing agreements to support our expansion. We expect the potential award of a Marginal Field, following the 2020 Bid Round process, to happen within 6 months of bid submission."

[grannyboy] 18/9/2020 06:51

They havn't got an asset, they have applied for a licence, and how cattaneo has the audacity to claim "near term" is beyond belief, it will be years before any drilling is done, that's IF they get the licence.. And what's this about zen having the 'technical nounce LOL!!

[bad gateway] 18/9/2020 06:43

I think you lot will still be here in 5 years.
Good news on Nigeria today, another asset proceeding and finance sorted first..

Andrea Cattaneo, Chief Executive Officer, commented:

" The Bid Round represents a very rare opportunity for Zenith to acquire a large, underdeveloped, near-term production asset in Nigeria. Indeed, the last opportunity of this kind was in 2003.

We have worked closely with our Nigerian partner to complete the necessary commercial and technical analysis required for submission of our Bid and in selecting the most compatible asset.

In the event our Bid is accepted, we have already received positive indications from a number of pan-African financial institutions regarding obtaining the necessary financing to develop the asset and achieving commercial production.

I look forward to updating the market in due course regarding this opportunity."

[fatfish] 17/9/2020 14:08

Granny

Do you think it will be here in 5 years, I don't

[pretax2] 17/9/2020 10:31

That guy is what you’re investing in folks.
Good luck

[grannyboy] 17/9/2020 10:00

A picture paints a thousand words ... Andrea Cattaneo looking pleased with his record of shareholder share price appreciation under the Italians tenure at Zenith Energy over the last five years, and gleefully extols there will be more of the same over the next five years!!

[bad gateway] 16/9/2020 13:08

New tweet, he's still pushing for congo..

Very productive meeting with SNPC in Brazzaville. Progress being made on a number of fronts #ZEN

[ruedolf] 15/9/2020 20:26

Fair play to cattanoe he's no pushover... AAOG pumped over 30 million into Congo and the congo government swipped the license from them... what do they expect !

[bad gateway] 12/9/2020 11:51

Thats what they said about UOG's Egyptian licences aaogplc. Still happened, holders just needed patience and just like zen all the production they were entitled to from initial signing came to them
zen have 45% now isn't it? Not bad for a delusional whatever you said.
Chart still looking steady but agree needs one of the plays in the Congo to be updated imo before any real positiveness has a chance to kick in.


free stock charts from uk.advfn.com

[aaogplc] 12/9/2020 08:32

If it happens. Still not approved by Tunisian regulators.