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The price has never been 0.85p. There’s more chance of you winning the lottery than getting these 0.85p as with director shareholding’s it’s physically impossible.
Still holding, Sitting on loss long-term; but might buy when SP drops below 0.85p again. They'll be for the grand-kids sometime 2030 - expecting nowt before that
Zenith Energy Ltd., an international energy production and development company, has provided an update on its ICC Arbitration proceedings against Tunisia’s national oil company, ETAP. After previously securing a ‘conservative seizure’ of US$6.5 million due to ETAP’s contractual breaches, Zenith has now bolstered its legal team with the appointment of Clay Arbitration, led by Professor Thomas Clay, to support its ongoing case. The company continues to focus on developing revenue-generating assets and low-risk exploration in its North African, US, and European markets.
Callit won’t be long. The Congolese have their money frozen also. They are just biding their time whilst increasing their bills and costs for us further.
They wanted the state as a party and were not allowed. What possible reason would they want the state as a party unless it's to say, 'it's not our fault it was the state that made us do it'. Not a valid reason, pay up chumps. IMHO
GLA DYOR
Doesn’t really matter their money is frozen. They’re known for being corrupt and pulling out of legal contracts hence why officials there are getting replaced on a monthly basis. We will win quote easily imo
Seems like the Tunisians are standing firm from their position to, I wonder what reason they are giving for breaking the deal?
"conservative seizure" for an amount equivalent to approximately US$6.5 million deposited in a bank account under the name of ETAP in Switzerland (the "Conservative Seizure").
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Update on ICC Arbitration proceedings against ETAP
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to provide an update regarding the ICC (International Chamber of Commerce) arbitration case seated in Paris (France) against Entreprise Tunisienne d'Activités Pétrolières ("ETAP"), the national oil company of the Republic of Tunisia (the "ICC Arbitration").
Background
On July 10, 2023, the Company announced that it had successfully obtained a "conservative seizure" for an amount equivalent to approximately US$6.5 million deposited in a bank account under the name of ETAP in Switzerland (the "Conservative Seizure").
The Conservative Seizure was granted in view of ETAP's failure to comply with its contractual obligations to pay for oil produced and sold by the claimant, a wholly owned subsidiary of Zenith, named Ecumed Petroleum Zarzis Ltd ("EPZ"), registered in Barbados.
On November 29, 2023, the Company announced that the Arbitral Tribunal of the ICC Arbitration had rejected ETAP's request to include the Tunisian State as co-defendant and ordered ETAP to pay approximately EUR 120,000 in costs to EPZ.
Update
The Company is pleased to announce that it has strengthened its legal team in support of the ICC Arbitration by appointing Clay Arbitration, an independent boutique law firm specialised in arbitrations founded by Professor Thomas Clay, a renowned academic and lawyer, who is currently Professor at Sorbonne Law School, where he teaches Arbitration Law and Alternative Dispute Resolution.
Professor Clay has participated in approximately one hundred arbitration proceedings as chairman, sole arbitrator, and co-arbitrator, as well as counsel in domestic and international arbitrations. He has also participated in ad hoc and institutional arbitrations in the fields of energy, oil and gas, mining, telecommunications, construction, distribution, commercial law, sports law, labour law (ICC, ICSID, LCIA).
Paul deano once the first arbitration is concluded we will have enough money to buy all of them.
I'm scratching my head as well!
No news releases on USA, S Sudan or Kazakhstan.
‘ I really want some news on Kazakstan and S Sudan, we need to be producing to.’ x2
Ha, yes, costly error poor chap(ess). I almost did that once with tpx and txp.
Likely day trader trying to buy ZED this morning (latest rns) but got wrong ticker
Odd trades today.someone bought at 8.00 and sold30mins later. Was probably expecting a miracle.
It says in the RNS that we will know by the close of 2024.
"The Arbitral Tribunal for ICC Arbitration 1 is expected to convene during the month of April 2024. A decision, resulting in a potential award favourable to EPZ, is expected to be made by the close of 2024."
We could get some news about SMP soon though? Fingers crossed.
I really want some news on Kazakstan and S Sudan, we need to be producing to.
Looks like we are going to get some big action. The Italian stallion making moves in the background still the most undervalued share on the LSE. We win the first small arbitration and the price will be 5-7p in one training day.
@LadyOfAim
x.com/ladyofaim/status/1783169331234255331?s=46
Source? Which account on X?
A post from Twitter - good news if true & will monitor trades and probably purchase to average down
My sources inform me that the management and board of Zenith are all presently in Paris for the final days of the $10 million USD ICC arbitration trial for the non-payment to Zenith of an oil international sale due to Zenith by the Tunisian national oil company ETAP
Https://www.investegate.co.uk/announcement/rns/zenith-energy-ltd-com-shs-npv-di---zen/new-bond-exchange-offer-/8149995
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New Bond Exchange Offer
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to announce the launching of a new Bond Exchange Offer on revised terms (the "Exchange") following the successful conclusion of the first Bond Exchange Offer, as publicly announced on April 11, 2024.
Botham the strategy is clear, win the arbitration with over $150 million owed. Then develop assets in the USA with potentially signing a big asset in Kazakhstan.
Things move very slowly here.