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Today's tweets of AC with the President of the Republic of the Congo is an indication of the ZEN BOD's ambitions in that country and perhaps elsewhere in W Africa. Those ambitions were outlined briefly in the recent Jeune Afrique Business+ article (thanks to lutefish) and further indicated by the appointment of Andre-Brice Boumbendje, ex-Schlumberger & Marathon, and Gabon representative on OPEC, as an advisor to ZEN.
We also know from the RNS of 12.02.2020 “Potential acquisition of major production asset, West Africa” that the company is in “final stage negotiations with a national oil authority” for a production license for an initial 1000+bopd asset “formerly operated by a major international oil company” and “ the asset will not require material upfront capital investment”.
The Jeune Afrique report suggests this and other potential acquisitions are likely to be in Gabon, Angola or the Cameroon, all of which have revised their hydrocarbon regulatory and fiscal systems to attract inward investment.
The coastal onshore O & G fields which ZEN will be appraising are, from N to S, those within the Douala Basin (Cameroon), Gabon Coastal Basin (c25 fields in c20 currently available blocks, from the current total of 185 fields with 2P reserves of 5629Mboe), Congo Basin (single available block in Angola – Cabinda, a geographically separate enclave) plus c10 blocks in the Lower Congo Basin of N Angola, and the Kwanza (Cuanza) Basin (Angola) which has c12 mature oil fields and 23 onshore blocks, none currently under active development.
Major upgrades of West African offshore and near-shore geophysical data mainly by PGS (Petroleum Geo Services of UK) and CGG (French global) has in recent years greatly improved the understanding of subsea geological structure, from which it is now possible to assess the further potential of mature onshore oil fields.
AC will no doubt prioritise opportunities with minimum upfront capital costs and maximum near-term production whilst simultaneously trying to maximise production from the Azer assets with C-37 and C-30 the immediate objectives. Clearly receipts from Azer production and the bond issue will be key to success of ZEN's strategy.
AGEOS.
I thought you said he had no contacts in Congo Alex/Highlander?
according to a poster on another board, the TW bearcast indicates that zenith may have lost one of its major assets
Well the only one we could have really lost is Azer !! Which to me fricking explains the radio silence there and the fact that he has gone chasing rainbows else where. Hope to god I am wrong but nothing surprises me anymore.
clearly nonsense imo... the pic today really gives confidence for deals in africa
TW has talked down AC and Zenith ever since the AAOG deal came to light.
Once he`s got it in for some body or company he barely ever stops.
As speculation regarding AZER has been relentless on this board,he has joined the bandwagon.
Expect non-stop negative coverage from him.
Yes just as likely he and/or his followers are short as anything. Tom is part of the aim cesspool imo.
Interesting photo, hard to believe congo isn't going ahead and at this marketcap then there must be a fair bit of upside surely?
Recently TW made negative comments on DEV,DISH,BPC which all went up afterwards. dyor
Ooph!!!!
All sorts of games to relieve you of yr holdings .... ahh well.
yep - the same poster on another board has indicated that in the bearcast, TW says AC is losing the azerbaijan asset - about 18 mins in apparently.
they just announced that SOCAR granted exploration approvals as well.. fake news imo
Yup some serious jive being spouted .... ahh well !!!
Anyhow looking forward to an announcement on the Congo deal in due course as hopefully it’s been a productive week!!
Hope the other deals are progressing well as it’s about time we had some good news .....roll on next week. Great weekend all.....
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.
https://www.energyvoice.com/oilandgas/africa/223318/zenith-sets-out-drilling-plans/