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I seen a post here this morning by Flash and because he's a negative stance, the post was removed.
It's so childish and ridiculous that posts should be removed. Removing them hasn't stopped the share price falling to where it is whether the posts stayed up 1 hour or 4. Price has dropped over 95% under ACs tenure anyway.
I see MEN leaving the AIM market this am and has fallen 75% on the day and C4X yesterday on AIM on voluntary delistings where the s/p isn't being reflected.
I posted sometime back on the main market listing, rules and latest recommendations, sponsor etc to bring it more in line with AIM which has better oversight having a nomad. I wonder if the m/cap rules could be problematic and if it's cheaper to be private in some company cases as the 2 examples above ?
Sells of less than £3000 -it's a massacre !
FTSE around all time highs
Zen around all time lows
A load of sells at 2.2p worrying
Someone said bottom in at 2.4p….. Yet we continue to go lower
Zenith will win the issue is many are underwater because of market trend, boredom and waiting on USA/Kazakhstan. Until then I guess the money will be transferred from the impatient to the patient. Unfortunately till then we have to put up with mls/Flashgarden etc WhatsApp group till the settlement to us is finalised.
Should you be on the CPX thread DB? ZEN is oil/gas they don't have I.P. issues so far as I'm aware?
Other companies have the same IP, maybe the same as them and IP wars could happen which makes things very expensive?
Is it a race to the top, or the bottom ? IMO
Not that much patience needed imo. Payday and special dividend quicker than for AST and boom time ahead of GCM.
re the above mean the $85M presuming they win. Just waiting for peeps to cotton on (and to believe ZEN can win).
Zenith Energy Ltd, the listed international energy production and development company, provided an update regarding the international arbitration proceedings it has initiated against Tunisia and ETAP, the national oil company of the Republic of Tunisia.
The claim against Entreprise Tunisienne des Activités Pétrolières amounts to approximately USD 7.5 million. In addition, a decision on the $85.8 million claim against the Republic of Tunisia is expected in the first quarter of 2025, reports private oil investment website London South East.
A further claim against Tunisia of at least $48 million is expected to be settled in 2027. CEO Andrea Cattaneo said: “Zenith is fully confident in the merits of arbitrations. We shall look to initiate a process to determine and grant an extraordinary dividend to shareholders following a potential successful outcome resulting from the CNAOG ICC Arbitration and ICSID Arbitration
if under water even if purchased at higher prices pre consolidation price of 1-3p you should get a profitable exit.............till then what happens with US and Kazakhstan is up to the company to deliver and will be a bonus........I am ok to put these in the drawer till 2026 and get a 10 bag plus exit on the arbitration rulings in Congo & Tunisia.............DYOR
We need Kazakhstan news but at the same time we do not wish to rock the boat.
Careful now..I posted a similar comment Friday and it was deleted..... they don't like realism around here....
A few years ago AC used to say that the shares were worth around 20p?(pre consolidation price!
Now pre consolidation price is 0.235p
Even the die hard AC supporters must realise this a dog of a share
Down nearly another 8%..
How much lower can this go?
I think we're at the true bottom now. I only picked a few up but they came with crusty bits so good sign.
Why did you reply then?
Guys the bottom reached 2 weeks ago and now 3-3.5 will be the holding price until there is good news. All the sellers have sold all bad news out of the way and a whiff of good news and the price will go straight back up from here.' TYB 6th NOV. Every week we reach the true bottom. Lets see how low we go.
?
Fre1 the market cap is a oversold tremendously I would have piled in but over leveraged on another stock I’m down on which was going to be put into zenith lol
Panman I agree with you also a nice slow build in the share price before the arbitration conclusion would also be beneficial to shareholders. I’ve been in for 3 years now and would want to be rewarded over the new lucky investors getting in at current prices as they make even more than me. A slow rise to 20p with USA and Kazakhstan then the court winnings to take us to 40-50p and more would be ideal.
Don't disagree actually. End of year for the first award isn't that long and nor is 1st Q next year for the $85M.
Could do with a positive update on Kaz all the same as thought that sounded quite interesting on its own.
Panman will be too late when the rns comes out that the arbitration has been concluded and the price has gone up ten fold. USA will be a slow burner and Kazakhstan a medium growth asset. The arbitration will be the money maker here with a maximum year wait for the decisions on all front.
Think they're getting a bit more interesting with the arbitration decision times getting closer.
$7.5M to be decided end of this year and $85M first quarter 2025.
Couldn't answer the question of when will the market get interested, guess its got to start believing they can and will win?
Botham unless zenith get paid $100m+ and we’re paid back with the winnings. But yes we need to get cracking on USA to get some action going.
@botham, you nailed it there.
We need an update on USA too.
Some really articulate posts , the reality is though that beyond current holders who all massively under the water. Nobody in the UK is interested in ZEN a couple of pocket money trades which is two more than we are seeing a week a lot of the time. Until their is clear direction on future debt funding, and actually close a deal, this is going nowhere. For 12 months we have seen huge admin costs recorded against speculative travelling and MOU's in double figures and nothing closed. Like many AIM companies with CEO's on huge salaries but as yet delivered nothing but dilution, why would a new investor buy shares in ZEN?
In this arbitration, the court seem to being asked to rule simply:
a) Was the license entitled to be renewed for an extended period under the terms of the CNAOG contract which Zenith inherited when it bought CNAOG from the China National Petroleum Company?
b) If so then what was the amount of production that was lost by this breach of contract and therefore what is the financial value of this loss
Obviously in addition to the CNAOG losses which seem quite straightforwards there is also the losses related to the Kuwait Foreign Petroleum Exploration Company (K.S.C.C)’s 22.5% but I feel that this could be a bit more complex because I am not sure that this deal was ever approved by the Tunisians.
The third arbitration seems to be by far the most complex of the three as it deals with issues related to the Tunisans deliberately blocking Zenith developing Sidi El Kilani and Ezzaouia. If this deliberate obstruction can be proved then Zenith can claim the potential for greater production that would have been achieved from both assets and therefore additional losses separate from those related to the second arbitration. But obviously there are many “ifs” and “maybes” in this one and I can see why it is going to take the longest. I do think that it is clever that Zenith have separated out the second and third arbitrations though.
I also think that the fact that Anima Dispute Resolutions have resigned from representing the Tunisians in this court case is very significant. According to their website they are a very experienced and internationally renowned law firm, so why would they stop representing the Tunisians in this case? It is not just because they think that they might lose as they would get paid for the work that they do anyway and lawyers do not walk away from high paid legal cases for no reason. To me, their resignation hints that there is something in there on the Tunisian side that is very rotten and they do not wish to be involved with – and if this is the case then it is potentially very beneficial for Zenith.
Finally, the mention of granting an extraordinary dividend to shareholders if the various arbitrations are successful is a very interesting move by the company and would be much welcomed by all of us. Obviously, I would like more information about what percentage of any award this extraordinary dividend would represent, but given that according to the 13th Feb 2024 fundraising RNS Andrea currently owns 9% of Zenith then it would obviously be in his own personal interest for any dividend to be as large as possible.