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"volume has been great..........does seem quite interesting this week the buying volume has increased dramatically.......whether there is substance behind only the Norwegians know..........dyor"
I would think that Norwegian investors should be very knowledgeable about the O&G sector, considering that it is their country's largest sector:-
"The industry plays a vital role in the Norwegian economy and the financing of the Norwegian welfare state. The oil and gas sector is Norway's largest measured in terms of value added, government revenues, investments and export value."
"Licence Area Highlights • Located in the Lower Republic of the Congo Basin, West African Atlantic Margin, extending from Gabon down to Angola, a prolific hydrocarbon region. • 50 square kilometres, mainly offshore (less than 10m depth) – drilled from onshore. • In close proximity to oil storage /processing infrastructure located in the nearby town of Pointe-Noire."
It's clearly very significant that the Tilapia licence area straddles onshore & offshore, as in this case this means that it can be drilled from onshore, which obviously has huge cost savings compared to offshore drilling.
In comparison, Afrenta's offshore acquisitions in Angolan waters will require expensive offshore drilling.
To illustrate the onshore/offshore difference: an onshore drill can cost as little as US$100,000; whereas a deepwater drill can cost US$100 million - i.e. up to a thousand times as much.
ZEN's management look to have played an absolute binder in picking up the Tilapia asset so cheaply, at the bottom of the market.
"TRANSFORMATIONAL PRODUCTION, DEVELOPMENT AND EXPLORATION IN AFRICA AND EUROPE"
Our strategic ambition is to create value by pursuing transformational energy production opportunities in Africa and Europe through the development of proven assets, as well as performing low-risk exploration activities in assets with existing production."
"Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in Tunisia, Italy and the Republic of Congo.
The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).
Zenith’s strategic focus is on pursuing transformational opportunities in Africa and Europe through the development of proven revenue generating oil, gas and electricity production assets, as well as low-risk exploration activities in assets with existing production.
The Board creates shareholder value by taking an opportunistic approach to asset acquisitions, targeting existing production projects to maximise their potential, whilst performing a comprehensively rigorous due diligence exercise to mitigate risk. "
"(1/2) #ZEN zooms into... Africa's energy supply ?? It is estimated that demand for #oil products in #Africa will grow by 1.4% CAGR by 2040, from 4.1 million BOPD today to approximately 5.3 million BOPD (source: @McKinsey )"
"Zenith Energy (LON:ZEN; OSE:ZENA) @zenithenergyltd · 4m Replying to @zenithenergyltd and @McKinsey (2/2) #Zenith recognises the transformational #energy potential that #Africa holds and is diligently working towards, inter alia, the potential successful achievement of its business development objectives in the Republic of the Congo.
In seeking goals, it is important to know about these “eleventh hours.”
Have you ever noticed in life that things can look really bleak just before a dramatic turn for the better? The businessman reports that just before he made his fortune, he was about to quit. Perhaps you have had the experience. Life is like that because there is a principle at work here – the ‘eleventh hour’ principle. it is always darkest and coldest just before the dawn. But if we hang on long enough, we will get our rewards.
If we look at childbirth, we see the principle in evidence also. Just before the most incredible gift of life, the mother-to-be has her patience truly tested and undergoes considerable pain and anguish. (My mother said it was all worth it.)
Once we recognize the eleventh hour for what it is, life loses a lot of its trauma. In effect, the universe often seems to be testing us to see if we are serious about attaining our goal. If we hang on that little bit longer….BINGO!
Once we realized what was happening, we can actually be one step ahead. When everything looks bleak, we can then tell ourselves, “So everything is going wrong! This could mean that everything that I have been striving for is just around the corner.” Then we should feel better.
We will generally be tested in some way before achieving something of value. If we can pick the eleventh hour for what it is; and treat any difficulties as a necessary part of the process of achievement, then, firstly we won’t be quitters, and secondly, we will achieve whatever we desire in life.
Don’t be fooled. The eleventh hour is usually an impostor. When everything looks black, it could be time to celebrate. You may be nearly home."
"Some of these gas projects could increase energy supplies for Europe this winter in case Russian President Vladimir Putin turns off flows from Russia. Canada's Zenith Energy, which said last month it's reactivating a well in northeast Italy that will yield 1,300 cubic meters of gas per day, expects production to commence between October and December. Luca Benedetto, the chief financial officer, said in a statement that the decision was made "in the context of the increasing necessity for European domestic energy security and a highly encouraging pricing climate." Others won't launch for some time. Shell estimates that the Jackdaw gas field in the UK's North Sea will come online "in the mid-2020s." A floating terminal that can store and regasify LNG, which was recently purchased by Italian gas infrastructure operator Snam and will be installed near the coast of Ravenna, won't begin operations until the second half of 2024. "