Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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What is going to get the SP moving though? MM’s made this quite hard to buy for good few hours
Midmod.......Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to announce that the ICC (International Chamber of Commerce) appointed Arbitral Tribunal for the arbitration claims launched against Entreprise Tunisienne d'Activités Pétrolières ("ETAP"), the national oil company of the Republic of Tunisia (the "ICC Arbitration"), has rejected ETAP's request to include the Tunisian State as co-defendant and ordered ETAP to pay approximately EUR 120,000 in costs.Zenith Energy will seek to enforce the decision with a view to receiving payment directly to the claimant, a fully owned subsidiary of the Company, named Ecumed Petroleum Zarzis Ltd ("EPZ"), registered in Barbados.
will be straight forward with the ICC enforcing legal fines against ETAP if they don't behave accordingly...........imho
Excellent result….assuming the cash is handed over without a fight.
Bradwilletts we are expecting news on multiple fronts............
USA
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that it has signed a binding memorandum of understanding ("MOU") with Jala Capital Investments, LLC, a company incorporated in the State of Texas ("Seller").
· Zenith intends to rename CYAP, will appoint a new Board of Directors reflecting its new ownership, and will utilise CYAP for the purpose of acquiring energy production and development opportunities in the US.
Italy..
he Company produced a total of approximately 1,015 megawatt hours ("MWh") during the month of January 2023, and a total of approximately 929 MWh during the month of February 2023.
Electricity prices averaged approximately EUR 165 per MWh during January 2023 and averaged approximately EUR 156 during the month of February 2023, resulting in cumulative total net revenues of approximately EUR 313,000 for the period.
Zenith's current net production costs remain fixed at approximately EUR 35,000 per month.
SS....
The objective of the MoU is to formalise the shared interest of Nile SLC and Zenith to jointly pursue business opportunities involving the construction of fuel products storage tanks, pipelines, and crude oil storage tanks in South Sudan.
· Under the terms of the MoU, Zenith will provide technical, financial, and managerial expertise in the construction of fuel storage tanks, pipelines, and crude oil storage facilities.
· Nile SLC will facilitate the establishment of a partnership in identifying business opportunities, whereas Zenith will contribute its technical expertise in midstream operations.
Kazakhstan....
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to announce that, as it is now in the advanced stage of finalising terms for the potential acquisition of oil production and development assets, it has incorporated a subsidiary in the Republic of Kazakhstan, named Zenith Munay LLP.
With reference to the three memorandums of understandings (the "Memorandums") announced to the market during the month of September 2023, the Company is pleased to announce that after comprehensive technical, legal, and financial due diligence, it has agreed to formalise a pre-contractual framework with the seller for an opportunity comprising two oilfields with a near-term production potential of approximately 400 barrels of oil per day, located in the Atyrau Region of Kazakhstan (the "Potential Acquisition").
Arbitration....
Claim
The Company's is pleased to confirm that it has formalised a claim for damages in the amount of US$85.8 million (the "Claimed Amount") in connection with the CNAOG ICC Arbitration.
The Claimed Amount has been assessed by a third-party expert consultant in consideration of the following:
· CNAOG's lost production revenue and associated profita
What’s the next bit of news expected from the company?
Takeyourbets
Currently how many Barrels of oil ZEN producing?
I know you said 400 Bopd potential from USA
Kazakhstan c500
South Sudan??
in all we could see ZEN producing over 1000 bopd?
plus the court case winnings around $85M
Takeyourbets.....
today's SP action was a mystery....
when Rns came, Mms literally didn't allow anyone to buy, why?
was it they were waiting for some big orders to fill?
it was impossible to buy without going NT all the time.
finally couple hours before close it allowed buyers.
anyways ZEN looks cheap
This court winning will be a big lesson to any other African country who thinks they can get away with corruption against other smaller oil companies without any punishment.
Courtesy of MGS
It looks like Zenith have gotten really serious really quickly with this arbitration process, this latest arbitration is bigger than the other two combined and takes the total amount that Zenith are suing for to US$140,300,000. This is serious money.
I liked the details in the latest RNS of exactly what they are claiming for, and I really really like the fact that the amount of $US85.8 million is a figure that has been assessed by a third-party independent expert. This is big money Zenith are after from Tunisia – more than 10 times the company’s current market cap in this arbitration alone, and almost 20 times the market cap when all three are put together. It will obviously take time to go through the system, but ultimately if they are successful then Tunisia will have no choice but to pay.
It wouldn’t be the first time that a small oil company have been successful in an arbitration against a nation state either. In August 2022 the International Centre for Settlement of Investment Disputes ruled in favour of Rockhopper against the Italian state when Italy unilaterally rejected Rockhoppers legal license to drill. In this case the International Centre for Settlement of Investment Disputes awarded Rockhopper €190 million plus interest https://rockhopperexploration.co.uk/2023/04/update-on-arbitration/ , and this was for damages on a well that was never even drilled. Obviously, Italy have appealed and the process is still continuing, but it is looking very likely that Rockhopper will see their money in 2024.
If Zenith can start acquiring US and Kazakhstani production assets as the company has planned and these deliver regular cashflow over the next few years then the company’s share price will increase significantly anyway. With the arbitration process grinding on in the background while this happens then at some stage there is going to be a huge share price increase if/when the final award comes in.
I’ve got to hand it to AC. He acquired the Tunisian assets for $250k and is now suing for $140m in damages because of the acquisition. If he is successful then that will be a hell of a return on his investment.
Takeyourbets
thanks for this information
Italy £1-£2m profits is like £20m Mcap just on that
2024 should be multi bagger
We’ve signed mou with South Sudan
Kazakhstan should be signed soon I hope starting rates 400bop and will increased significantly
USA they will soon start buying up and straight into production
Italy we make about $1-2m profit a year from electricity
In all honesty can’t give an accurate figure but I expect by 2024 to be producing several thousand barrels of oil per day.
That with the court winnings should make this stock one of the biggest risers in 2024.
Takeyourbets
what's the expected Barrels per day from USA
Kazakhstan
South Sudan please
Hello
what's the expected Barrels per day from USA
Kazakhstan
South Sudan please
Earl of aim LOL
Realistically we will get 50-60m. The rest will go to the No win no fee legal lot. That’s what usually happens. Still multiples of our current share pricing. This is is discounting any production from Kazakhstan, South Sudan, USA and Italy.
Rsi 6
omg Rsi only 6, and that's oversold extremely.
GLA and Dyor $140m in arbitration
that's 20 Bagger from current share price
boom coming
30p achievable in near future
Rsi 6
omg Rsi only 6, and that's oversold extremely.
GLA and Dyor $140m in arbitration
that's 20 Bagger from current share price
boom,
I bagged 31249 shares earlier….strong close I think
Mms started to allow buys and maybe
order filled for now
Earl buy and hold were owed up to $140 million in court winnings
Market cap $7.5m
No brainer
I want to buy, Mms not letting
goes NT
hoping some sells today,
so I can load up
Earlofaim they have been playing some dirty tactics on this stock for the past several months. Taken it down on good news. But now after todays announcement they are now stopping punters buying stock because they know it’s a swift move to 5p.
NT constantly....
More trades coming in
Nice trades coming in..............I wonder if we will reach 4p would be a good start................5p realistic by Christmas I hope?..........DYOR