Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Paul1
Zenith have agreed to ship the rig, but it would be madness to do so without (as they say) "the reciept of all necessary regulatory approvals in the republic of Kazakhstan" for the approval of the acquisition.
60 days to complete legal and technical dd (from approx 20th Dec 2023) but there's actually no timeline when the Kazakhs will grant approval.
Last week I felt red flags going up, especially when some of my posts were getting removed regarding the Tunisian case.
This week I have alarms ringing!
Https://oilprice.com/Energy/Crude-Oil/Kazakhstan-Eyes-Expanded-Routes-for-Oil-Exports-in-2024.html we really do need an update from Zenith in regards to the Kazakhstan deal as the assets there are looking extremely good for 2024...............will email the company and see if I get a response as I feel once Kazakhstan s signed that would be ultimate turning point in the share price.........dyor & gla
I believe Kazakhstan is an Islamic country and now Ramadan has begun, will probably come down to an extension imo because having worked in the Middle East myself everything is always closed during Ramadan.
Paul spot on. We made the mistake of shooting our load too soon and then we had the asset ruined with corruption. I think ac knows how to play his cards now Kazakhstan shouldn’t be far off. Again the money in Swiss banks can be seized anytime so retrieving the money is not an issue.
We have no idea what is going on in kazakstan, the drill rig was supposed to go there and I was expecting pictures on X.
I understand the game now ZEN are giving nothing away after the Congo experience so a competitor cannot weasel in but at some point the shareholders need an update.
My concerns are the Tunisian court case and Kazakhstan might be might be another Soviet Era Azerbaijan debacle.
In the meantime the share price is voting with it's feet!
Blimey.
Wonder how that's going--extension date passed, notice to the market should be due.
‘ Even if Zenith win how are they going get the money from a country without no money.’
We will take payment in oil.
Botham from what I gather the courts have the right to seize their bank accounts and money. I am certain the countries have a measly £150m.
150m was just the first payment. EU will keep bankrolling them because the migrant issue is a political hot-potato.
"On 16 July this year, Tunisia and the European Union signed a memorandum of understanding on a “comprehensive strategic partnership” between the two parties in several areas, including the promotion of trade and the fight against irregular migration, worth over 750 million euros."
We all know the importance of MOU's :)
It's the exact opposite they have received 150 million in financial support because Tunisia is skint. Even if Zenith win how are they going get the money from a country without no money.
At least Tunisia aren't skint.
https://www.tunisianmonitoronline.com/index.php/2024/03/06/eu-releases-e150-million-in-financial-support-for-tunisia/
Agreed mls with the first payment due from the court case against the Tunisians 10p at least.
10p soon!
I understand Zengas, I have had 8 years of BS from this company.
It would not surprise me if Kazakhstan fails to materialise, Tunisia is open to questions and USA is complicated. That leaves S Sudan, no updates there.
' Obviously figured out something and came to the wrong conclusion, "again". '
Yes, just as i did Tilapia.
Lack of oil sales long before it was reported Tunisia was in trouble.
Benin.
Yemen.
Called the 3 US acquisitions absolute crazy at the time for spreading the company across 2 states - since cancelled.
Consolidation.
Dilution.
Yes very wrong.
Why would such a long established international Oil Co that has operated in, and done deals (sorry MOUs) in numerous countries need to establish itself "as part of the oil trading community with a foot in the door so to speak".
Why the need to whack out $2000 short of $400,000 to acquire a company on the pink sheets to "acquire production and development opportunities" on 29/8/23 and now tell us on 18/1/24 that their focus is to pick up royalty interests.
If you haven't realised what that leaves the company at the mercy off, then you haven't thought it through.
If the royalty interest was of any significance, they'd have stated what it cost and what the 5% royalty (revenue) was on x number of bls - but No !
I think once we get our payout from Tunisia and Congo the company has options to pretty much drill and produce on all fronts and finally make some big money. From what I remember in the interview spring we should be getting a decision. Again if the Tunisians don’t respond in time they will just keep getting fined.
Quite right Deano. I think everyone knows the motivation for the US purchase action was merely in order to become an accepted part of the oil trading community, a foot in the door so to speak. I'm surprised it's taken Zengas so long to figure this out. Obviously figured out something and came to the wrong conclusion, "again".
'Buying royalty interests isn't going to make any serious money for investors or the company. '
One would hope it is a long term approach, it gives stability to keep the lights on. Call it a strong dependable pair of centre backs and goalkeeper.
Next we need a pair of midfielders. (Kazakhstan)
Then we need our flare players our risky operations. (Africa)
This is a long term proposition in building up our squad/portfolio and how old is AC now?
News on Tunisia due soon and Kazakhstan, we have been here before. News has to drop soon or we can assume .....?
Seriously, forget about the USA.
Buying royalty interests isn't going to make any serious money for investors or the company. PIs would be far better off putting their money in an oil and gas royalty fund.
Begs the question why did Zenith buy CYAP at all and not just buy the royalty interests directly. Strange they pulled out of the much hyped three number other US acquisitions just 8 days after AC and Co lost the Reabold vote and now resorting to royalties.
They haven't even given any detail on the first royalty interest on either cost or revenue generation from almost 2 months ago which in all honesty is quite incredible towards investors.
Paul unfortunately that’s the nature of the game where there’s risk there’s huge reward and vice versus low risk high reward. But since Ac has offset that risk with projects in USA and Kazakhstan which are much safer particularly USA. The uk markets are generally very poor at the moment which is the main reason the price has drifted all my other stocks have tanked across the board even ones that have had good news. The crypto market has picked back up which hasn’t helped. I do believe this is a short term thing and money should be coming back to the uk market in several months. Also from what I remember Ac said in his interview that by spring we should know the result of the Tunisia court results.
' It’s also known to have own if the most corrupt governments on the planet with god knows how many changes of leaders in the last 10 years.'
Got to question the judgement of looking to engage in activity in that country, Africa is a funny continent to do oil business in.
Ok if they didn’t screw us over what do you think zenith did that ruined the deal then? Just a reminder the courts also keep issuing fines to the Tunisians also for delaying and not adhering to rules. It’s also known to have own if the most corrupt governments on the planet with god knows how many changes of leaders in the last 10 years. Tbh I would rather get a 50-100m payout than have zenith work in a corrupt environment for the future when overnight they can seize your site and withhold your oil with no explanation given.
' But I am very confident and actually pleased with how the company reacted to the Tunisian government screwing us over.'
But did they though, did we somehow acquire fields that we should not have done. Look what happened in Yemen where we deemed not big enough operators, I'd just be interested to know their side. There had been political unrest there so maybe other reasons to and we were treated harshly.