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Thank you all for your time. I remain invested, hoping one day I'll get my money back, 4p is not that far after all. Now would be a great time to go shopping on the ftse 100.I n a way ZEN has recently become a defensive stock :) the market goes down but ZEN is often unchanged, so if you opened your position here in the last few months, chances are you're beating the market. I'd be surprised if ZEN didn't outperform BP and SHELL since COVID 19 correction started :)
Wish you all a nice weekend
Carlosan for what it’s worth I think AC has built up the shareholding he has over the years because he truly believed that Azerbaijan was going to be a tremendous success, even last Oct on a video he was still insisting that our share price should be 20p based on the quality of that asset and the reserves it held alone. Clearly nonsense. I think like a lot of us once he was committed he just kept buying and averaging down believing that success was surely just round the corner. I think if he was being honest now he would look back and say that he was more than a tad naive/deluded himself about how easy he thought it would be to succeed in the junior oil and gas sector , he’s a very proud man, and a lot of what he’s done over the last few months in trying to acquire multiple assets in Africa is a last attempt to try and rectify a car crash of a situation and turn the company and his reputation around. Unfortunately through all the many promises and constant failures the company has gradually acquired the uninvestable tag and until he delivers something of genuine significance that will clearly continue .
Q: MarketGunslinger are you AC's son?
A: No I am not. I am simply an investor here who has done his research and I believe in the fact that Zenith has a bright future.
I do not believe in censorship and I very much enjoy having detailed discussions on the shares in which I am invested. If people make good points then I act on them and sometimes even change my mind. However, I do not take the slightest bit seriously posts from people that are simply mindlessly ramping or deramping.
Carlosan, thank you for your comments and I look forward to discussing the Zen with you more in the future. I am not going to chip in with my opinion on the question you asked Ehik yet as you directed it to him but after he has replied I will definitely contribute to the conversation.
Carlosan - I agree 100% with everything you say. No posts should be removed from here at all unless incredibly offensive.
I was engaged in an argument on the CHAL board with two disgusting posters Alan2017 and Rastuss who appeared to think that it was funny to make jokes comparing rape victims to donkeys. The posts were deleted when people (including myself) complained but I think that it was a mistake to do this as people now believe that they are normal posters, whereas if their messages had been left up the entire site would have been able to see what truly disgusting individuals they actually are.
Not only do I believe that it should not have been removed but I am going to repost it under here, so that it stays.
For the record: I'm still invested and my average is roughly 4p.
All I'm saying we need as many voices as possible to get a clearer picture. It wouldn't make sense if we all thought alike, on this or any other issue, company,etc. Unless a post is offensive or plain rude, it should never be removed to give everyone the opportunity to read it and judge wether is useful or not. By removing it the moderator clearly takes side with one or another. In this contest is self defeating.
Genuine question for Ezik on your post the other day: do you have an opinion on why AC is buying shares and slowly building an important position? I would be interested to know that. Like you, I'm tempted to be suspicious about his conduct, but his conspicuous holding does not add up with that theory. Don't you think so? Thank you
Carlosan - I never saw Fiah's post yesterday and I certainly never complained about it. However, I can see why it was deleted. Like every post I have seen from Fiah it is complete nonsense.
Fiah claims to be challenging me but actually all he does is post unsubstantiated negative posts about the company because he does not like the board (I assume because he has lost money in Zenith).
Fiah is the person who keeps claiming that Zen will be taken private but his only evidence of this is that he thinks it and he doesn't like the board.
Like I said yesterday, this board seems to be plagued by many alleged long term holders who no longer have a holding in zen and just pop up every few weeks to criticise the company. I am happy to debate with anyone who has done their research but just turning round and saying "Still believe this will go private after delisting" with no evidence whatsoever is just mindless deramping.
I am sorry Fiah has lost money, but why he (or anyone else) thinks that investing in this share at under 1 penny and now it has diversified its operations throughout Africa is the same as spending 10p to buy into a one-trick pony that was only allowed to exist at the whim of the Azerbaijan government is a mystery to me. This is clearly a much better investment opportunity now than it was back in 2017.
Again, as I said yesterday: to pretend that there is no chance of Zenith being successful in Africa because they were unsuccessful in Azerbaijan is completely misleading to all new investors.
Finally, why is it that whenever you do any research on these boards and defend an investment against mindless derampers do you get accused of being part of the company.
I have been accused of being David Sefton on the AAOG board - which I am not.
I have been accused of being Jonathan Tidswell-Pretorious on the CHAL board - which I am not (though this was by a quite odious character called rastuss who makes constant jokes about rape victims and seems to have mental health issues).
Now I have been accused of being AC's son here - which I am also not.
At least with Kelsbells, although we may not agree he is actually invested in the company and he argues his point with reason. How many of the mindless derampers here are even still invested and how many are just blaming AC for the fact that they lost money on their Zenith investments?
I thought that Azerbaijan was a massive exploration opportunity? Confused.
There was a post from Fiah yesterday that said, quote: " MarketGunslinger are you AC's son?" . It has been removed, that does not make the board a level field and I also warn new investors to take all information, by all parts, with a large pinch of salt. Above all from AC himself, who so far has managed to find very very little oil, ultimately ZEN's elusive objective. My advice as always is not to invest here more than you can afford to lose. GLA
Azerbaijan was in Zenith’s past. We need to look to the future and that is in Africa. The credit rating agencies say that the company is focusing on Africa, the company says it is focusing on Africa and it have both production and exploration assets in Africa. Forget Azerbaijan it doesn’t matter.
callit I personally think they should abandon Azerbaijan altogether and get producing in Africa asap.
Thats when the share price will revsit 10p+
either way very strong buy from here
wolf agreed I invested after azerbaijan turned out to be a flop, but imo thats why AC has acquired these new assets in Africa to not only diversity but they are also much better assets from what we've seen.
It'll be interesting to see what happens with azerbaijan but the sooner we get rid of it the better and focus on the juicy assets.
The handed over the Rehabilitation contract to SOCAR as per the RNSs n March 2nd and April 23rd .
This was the right thing to do as the rehabilitation side of things was actually costing money. Even though they made CAD $5.7 million from selling oil according to the last annual accounts when all of the overheads and administrative expenses were taken into account it actually showed a loss of CAD $165,000. This was partly because of the poor data and poor condition of the wells but was also because it seemed to follow a typical former soviet governmental structure – ie there were far to many people being paid to do far too little work.
However, it is very important to remember that Zenith have only got rid of the rehabilitation contract. They did not get rid of the exploration side of things and this is where all of the interest in Zenith lies. Nobody originally invested in Zenith for the rehabilitation contract but it was the exploration potential that was interesting.
For details of what the exploration potential is then you should have a look at the very informative posts by AGEOS on this board: https://www.lse.co.uk/profiles/AGEOS/ but suffice to say it is pretty significant.
The rigs and all the equipment will certainly stay in Azerbaijan and be used for the future exploration work as it is an easy way of keeping the costs of this work down as low as possible. I assume that we will start the Azer and the Tilapia exploration work after the purchase of the production assets is completed and they can be funded via debt.
As for exciting, I would say that Tiapia and a potential 5,300 bopd at an extraction cost of less than $5 per barrel (see page 6 of the AAOG 2017 annual report: https://www.aaog.com/docs/librariesprovider10/archive/reports/aaog-annual-report-2017.pdf) is pretty exciting. Remember that AAOG reached a market cap of £30 million on Tilapia alone and they predicted that if successful it could be worth £100 million.
Still have the exploration rights in Azer Wolf..just the operational handed back to SOCAR.
Looks like we are more focused on Africa at the moment though. Still a nice to have in AZ for the future though. IMHO
Aren’t they out of Azer, As they handed all the assets back to SOCAR. I am wondering what they have done with the rig they own though. For me this share has been a massive let down, am hoping things turn around now and the constant dilution ends, as many investors have lost confidence. They need to start progressing an assett as Azer turned out to be a big let down, i dont know if that was the companies fault or the assets were no good, but what i do know is Zen wasted a huge amount of money there and if AC wants UK investors to return he needs to make something exciting happen. What that will be i have no idea.
MG what do you think zenith are going to do with Azerbaijan?
Very good points, Marketgunslinger.
This board seems to be plagued by many alleged long term holders who no longer have a holding in zen and just pop up every few weeks to criticise the company.
It is in no way misleading for new private investors to be positive. The failures in Azer are also no indication of Zenith's potential in Africa and the acquisition of production assets spread over a wide geographical area is a good indication that the company is fixing some of the problems that it had in the past.
The big issue is that the workover wells is Azerbaijan could not bet gotten to flow properly because of poor well conditions and dodgy data. This is oil and gas. It happens. Look at what has happened to UKOG at Horse Hill - the oil is there but they are struggling to get it out in commercial quantities. At least Zenith have had the sense to get out of an area that is not working and stop splashing money on it - unlike UKOG.
Zenith have also addressed the big problem of them having all of their eggs in one basket with everything being in Azerbaijan. This left them open to the whims of a single state and also the problems of operating in a single location. They have definitely learned from this and it is no coincidence that they are looking at acquiring production assets in different countries so that they are no caught by the issue again. They also still have all of the exploration upside in Azerbaijan and I think that even the most bitter of long-term holders will agree that it was the exploration side that they brought in for rather than the workover of existing wells to bring out a few dozen extra barrels.
Now ZEN has acquired Tilapia for additional exploration upside and they are also looking at acquiring more production in Gabon and Congo and more exploration in Nigeria.
This company is very clearly a different operation than it was a number of years ago. All the eggs are definitely no longer in one basket, and it’s assets are clearly structures in a way that makes the company a much less risky proposition and gives it far more chance of success.
To pretend that there is no chance of Zenith being successful in Africa because they were unsuccessful in Azerbaijan is completely misleading to all new investors.
Fiah to me you’re coming across as a bit uneducated on this company, and quite honestly rude and a bit bitter.
The fact is as an investor I’m really happy with the steps zenith have taken with acquiring new assets and with tilapia on the way we should shoot up even in this market.
fiah you are also the person who keeps claiming that ZEN will be taken private with no evidence whatsoever.
It is YOUR behaviour that is a disgrace, trying to deramp this share based only on your own prejudices.
Are you even invested here?
fiah - you are not challenging me, you are simply making unsubstantiated statements based on your own opinion and no evidence.
I am more than happy to discuss the future of the company but you have to be a little more eloquent in your critique - how have I misled anyone?
Shame on you
Your are misleading future PRIVITE INVESTORS
Simple as that.
Note I shall challenge you if you keep misleading future investors.
Absolutely a disgrace by you.
Have you any .........