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As opposed to your quality contribution offering absolutely nothing but moaning and negativity. I get it you’re a poor trader, maybe that’s why you don’t contribute anything beneficial to investors.
I used 'banter' to look to calm the tone only and I feel we should park this takeyourbets as it's distracting and boring versus the quality posters content here .. mcuh appreciated too Florida btw.
(I hold lots of these type stocks at any one time and my strategy is based on the laws of averages.. and overall it has worked well for me over the years.. me rating a CEO is only one aspect of views I take - btw AC's are extreme strengths and weaknesses, I feel - and given in early 2020 I'd written my - then - remaining bet here off in my head, I'm not unhappy where we're at now ... but I'm only somewhat happy as given news around beginning of 2021 I expected more defining deals to be complete by now.. hopefully much more to come here... and, altogether, maybe best we both filter each other)
Nicetomichu I wasn’t bantering with you, what I don’t understand is why would you hold a stock you don’t believe in? Clearly if you don’t believe in management you should sell and take your chances elsewhere, then you got butt hurt and made it personal. Fact is the majority of the time when people listen to advice from people online they lose money, i am one of the very few who entered here at a good price and spoke my confidence this will go up when the majority were saying sell, since it has risen over 200-300%. If me being positive and making investors money a sin so be it.
I genuinely believe that in the future with production from Tunisia, Congo, potentially Nigeria and our project in Italy we should be seeing the double digits and more with ease. Not a bad investment at 1p. I wasn’t invested before at higher prices so I can’t feel your pain, all I am going by is what the board have done since I have been invested and it’s clear they want nothing but big growth for the company for themselves and their investors in uk and Norway.
Look who it is the resident moaner who was complaining at 0.4p when I was saying buy, you then sold and said you wouldn’t come back to complain again, yet a almost a year later you are back. You just can’t let it go can you?
Since I got in we went from 0.4 to 1.5 and now 1.2, we have acquired a great asset and sold oil for profits, we are on the cusb of getting a huge asset in Congo as well as making profits in Italy over $1m a year. Fact is kels you’re a saddo who just can’t let it go. Genuinely feel sorry for you.
Mgs you say the company’s performance is stellar since jan 2020, yet the share price is down 60% since jan 2020. Dread to think how far this will fall when the performance comes off these stellar performance levels !!
Your posting here is consistently brilliant Marketgunslinger.. much appreciated !
(there's so much chance involved in this game that even a poster of your quality can never know anything for sure, alas.. but this is now looking like it could turn out very well in the end now I grant you)
Overall, AC has to take the blame for Azerbaijan going wrong, and I can see why some long-term holders still hold this against him – but he also gets to take the credit for what has happened since and, in my opinion, the company’s performance since Jan 2020 has been stellar – and it hasn’t even fully taken off yet!
All IMVHO…
I think that it is extremely unfair to categorise Zenith as a one-man-band. Absolutely Andrea is in the driving seat and making the decisions but there are clearly teams of people in both Tunisia and Congo who are actually carrying out the work. The company have also appointed fairly senior figures in both jurisdictions to help with the politics of the area.
In Tuisia they have the former Mayor of Tunis Mohamed Bouleymen as a member of the advisory committee alongside Jacky Fleschen (see 5th June RNS: https://www.investegate.co.uk/zenith-energy-ltd/rns/extension-of-kufpec-acquisition---coupon-payments/202106250700100918D/ )
In Congo they have Dotatien Mpika as the country manager (as per the RNS from May 18th 2021 https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/appointment-of-country-manager---prospectus/202105180700059187Y/ ) Mr Mpika is very connected at Presidential level in the Congo and has been credited with Andre in the July conference call as being crucial to the good relationships between Zenith and the Minister for Hydrocarbons.
So I agree that there is only one man in the driving seat but I don’t agree that Zenith is a one-man band. I also think that we do all need to tip our hats somewhat to Andrea Cattaneo. AC has taken a company that looked all but dead and buried when the Azerbaijan development failed and he has, through determination and clever deal making, transformed it into an Africa focused producer that is generating revenue at an ever increasing rate. Along the way it looks like he used all of his energy and entrepreneurship to acquire the company some incredible deals during the Covid oil price collapse that are paying off in spades today.
1. He acquired the AAOG Tilapia license for £200,000. This not only allowed us to acquire the Tilapia 2 license (pending completion) but it also bought us $5.7 million in debt owed to us by the SNPC.
2. He has acquired (pending approval) 45% of Sidi El Kilan in in Tunisia for $800,000 total and this asset has already generated $8 million worth of oil which will belong to Zenith once the approval arrives.
3. He has bought Ezzaouia for $250,000 from the distressed competitor Candax and we have already sold $4.5 million worth of oil from this asset as per the 8th July 2021 RNS https://www.lse.co.uk/rns/ZEN/sale-of-tunisian-oil-production-z5qjrq3ce4hglc8.html
The turnaround that AC has pulled of for Zenith – a company which at one stage looked like it was fighting for its very existence has been pretty remarkable and while serious mistakes were clearly made in the Azerbaijan period (especially operationally) these seem to have been corrected and learned from in Tunisia. After all, the ROB-1 workover looks like it will produce some incredibly successful results.
Our 'banter' aside - and i stand by what i said about your posting here - takeyourbets, I tip my hat to you for first buying in here at .4p .. timing is huge in this game.. and your timing here is at least excellent and perhaps brilliant, on the other hand, especially including my 2017/18 bets here, my timing here has generally been a cluster+uck, I accept..
Also if you'd been through what most 'long termers' have here you wouldn't be nearly as unquestioning of AC/Zen I'd suspect.. but hope again now springs eternal for even the semi high average price holders here, maybe/hopefully....
I think if you look at Zen chart over 4yr they haven’t done that well - not least in SP performance which says it all. So no I don’t think they’ve done better than 90% of all oilers.
Anyway I am hopeful short to mid term from here
Workover of ROB-1
As announced on October 12, 2021, prior to the commencement of workover operations by Zenith, ROB-1 had not undergone any form of work since 2012, at which time an unsuccessful well intervention had been performed and the well was producing approximately 20 BOPD.
During the course of the workover, significant deposits of paraffin and wax were encountered plugging many of the lower perforations. These have now been cleared by way of reverse circulation of fluid.
The wellbore of ROB-1 was cleaned out to the total depth of 2,225 metres and scraping of the casing, which was found to have good integrity, was performed. Once this work was finalised, a new tubing anchor and sucker rod pump supplied by Weatherford were installed. It was discovered that the previous sucker rod pump was functioning at only 20% capacity and that the well did not have a tubing hanger installed, in contradiction of the 2012 well report.
The Company can now confirm that a Weatherford team has successfully installed a new sucker rod pump in ROB-1, which has been tested on surface and adjusted. A period of 36-72 hours is now required to pump out the well killing fluid and water emulsion from the wellbore before oil production will begin to be received.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"We are very pleased with the successful outcome of the ROB-1 workover which has been our inaugural operational engagement in Tunisia. Our team successfully executed the workover and garnered significant insight into the potentially very material upside potential of the Robbana concession.
Third party geophysical analysis suggests that the Robbana concession has potentially only produced 5-10% of its reserves potential to date.
We intend to report flow rates from ROB-1 shortly, once they have stabilised, and we remain cautiously optimistic about the relatively sizeable production uplift we may be able to achieve from ROB-1 against a backdrop of a highly favourable oil price environment."
mls with all due respect you have brought in again which shows you actually believe in this company. Surely if you didn’t believe in the management you would pick another thousands of stocks available for you to trade.
Pretty quiet day today however expecting the Robana results this week I hope. Anything over 50% than was previously expected is a great result and will bring more money into the company.
Will top up further if need be today.
mls they have done better than 90% of other oilers I think AC knows more than you think...........how many other oilers can you say are producing oil and actually selling oil for money?.........over in Norway Zenith is the hottest stock there and we all know how careful the Scandinavians are with their money and they are fully backing us........dyor
MGS. I’m hopeful from here. But I still think management (basically just AC and his son) have a lot to do and they can do the deals but use professionals on the ground. This is what they got wrong with Mike Palmer / Sadoway - bring too controlling in my view. They’re not oilers so need external expertise. Still let’s hope more deals to come and the SP goes further up.
Mls678 - it is good to see that you can see some positives in the company nowadays too. I understand why you were negative in the past and I think that it is a huge sign of how much that the company has changed that you are even able to say that you are hopeful that there is an upside from here. You also make an interesting point about Allenby - it is curious that they have been so quiet.
Takeyourbets - No matter what anybody says you were here at 0.4p advising people to buy in even as others were predicting further losses. Nobody can take that away from you.
So here we are, lots of different people, lots of different opinions but all (to greater or lesser degrees) thinkin that we may be able to make (or in some cases recover) some decent money from the performance of Zenith over the next few months.
Let's question everything but be civil to each other and, who knows, maybe we can meet together one day for a celebratory champagne or seven when Zenith multi-bags from here.
GLA and my apologies to anyone I have left out. There are many others I have not mentioned but I was really only mentioning those who had posted this afternoon so don't take it personally!
NicetoMichu - thanks you for your kind comments on my posts. I will endeavour to post more often but I prefer to post only when I believe that I have something of value to contribute to the community.
AGEOS - Good to see you again, your intelligent and knowledgeable posts always add to the collective knowledge.
Ezhik - we have not always agreed with our opinions on Zenith but I respect your intellect and hope that both yourself and your good wife recover from Covid soon.
Nicetomichu I got in at 0.4 and that’s when I started my supposed “ ramping “, maybe if you listened to me then you wouldn’t be underwater buying at 5p. But you keep moaning abs blaming everyone but yourself for making poor trading decisions. Amateur. :)
Great day today guys very excited to see what we are producing at Robana 1 hopefully paves the way for further successful drills in the area. Let’s hope for same tomorrow.
You're wasted here takeyourbets.. you should be in the circus imho...
Generally, you've ramped this day in day out for seemingly ever - and generally in an extraordinarily unsophisticated way /or content copied from the top posters here way - and while they say a broken clock is right twice a day.. and given I hope you're right here eventually .. alas, you'll have been that wrong that often previously that you won't make the twice a day level of said broken clock :-)
PS; I have north of 10k gbp currently in this.... decently under water of course. and not one of my more serious bets though... although if you posted a lot less here and the likes of marketgunslinger more I might be open to adding plenty more here in due course
https://twitter.com/zenithenergyltd/status/1452611767146852362?s=21
Nicetomichu as opposed to your posts moaning and complaining every time the price rices pretending you’re invested lol.
Thanks for the feedback takeyourbets.. while I think there are a fair few high quality posters here I do not believe you fit in their ranks.. therefore I feel it's best I sell when I feel like it as opposed to taking your advice below :-)
Nice if you feel that way you should sell on market now. You shouldn’t hold a stock you have no faith in. I am happy to take your shares at a little drop from here. :)
From memory rugs, March 2017 was only a few months after it came to market ?.. In case you think I should stop moaning for only being here 'waiting' 9 months.. let me explain more : I too was in this for a few years from 2017 ish.. dumped plenty by increment as this s/p collapsed year after year but still had a fair few grand holding position - miles down - that nine months ago I more than doubled down on.. I panicked a bit and took some out March time but still have a punchy enough bet on here now thats b/e at just under 2p ( that doesnt account for the fair few k I'm down on the my previous panic dumps ) So I've served my time here too !!
Generally, AC is a real trier and has good marketing orientation.. so getting deals done in Africa might be right up his street.. hopefully.. he still far from inspires me in terms or operational oversight... but he can hopefully get the right peope on board for that.. but I still see this as a kinda dog.share... hopefuly that changes towards puppy from here forward .. there is now a chance it will, clearly..
DYOR and for a share more for the hard core 'punters' imho
Glad to see the old investors now optimistic, the smart money like you said would have averaged down. The good news is it’s going only one way from here and that’s significantly up. The hard work has been down now it’s time to ramp up production get money into the company and build tjr market cap up to the double digits in a year.
Hi Nice. Patience is certainly needed here. I first bought into ZEN back in March 2017, and have averaged down many times since, and am still waiting ! Shares need quadruple before I get close to breaking even but I will continue hold as see no point in crystallizing a loss and the prospects always seem quite bright.