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AGEOS thank you for your reply and as usual informative as ever.
I look back with nostalgia at the not too distant past "halcyon days" and ACs interviews with Bonnie Hughes and the other ladies where he spoke of 20p a share etc.
Now the vulture`s and parasites are aplenty and making mischief day in day out.
The next few weeks should be interesting and hopefully fruitful for investors.
Sub1 imminent
KAM, yes I still have confidence in a successful outcome to ZEN's operations, to the extent of continuing to buy shares. The current mkt cap of £6m ( based on 577m shares in issue @ 1.05p) indicates a contrary view by 'the market', presumably exacerbated by fears of the economic consequences of a pandemic.
Leaving aside the latter, the possible effects of which are speculative, my assessment of the situation in Azerbaijan is as I posted on 13.02.2020, and the prospect of success to the Tilapia license acquisition appears increasingly probable if the most recent RNS is taken at face-value.
The resumption of operations in Azer is no doubt awaiting legal clearance from SOCAR which may well coincide with formal acceptance of the joint SOCAR/Aran Oil 2020/21 Operational Plan, due by March 15th. BB speculation that the operational hiatus at C-37 and C-30 is a consequence of ZEN policy is, I'm sure, baseless. One needs to bear in mind that SOCAR is a governmental behemoth with a bureaucratic decision-making structure and ZEN a minnow of relative insignificance. The c300bopd at C-37 may be vital to ZEN but is of no consequence to SOCAR.
With the enforced, but temporary, cessation of activity in Azer, AC has no alternative but to press ahead with other developments, that in the Congo obviously being foremost in the pipeline, with that of the as yet unknown other 'W African' asset hopefully to follow soon. AC will be in no hurry to progress the Coro Italian asset acquisition as he needs the ZEN SP as high as possible to cover the second equity payment should production meet the targets defined in the acquisition agreement.
Incidentally, James Menzies, CEO of CORO recorded a lengthy interview on the 25th Feb with CRUX Investor which provides informative parallels with the challenges facing ZEN, both companies having similar strategies and objectives albeit in different jurisdictions. He mentions the disposal of Italian assets without naming ZEN.
AGEOS
MCAP of 6 million is bonkers !!
Yep all large shareholders have added of late... they can’t all be stupid.. also first time other directors are buying big chunks
Imo the acquisitions will proper zen beyond recent highs.. Drilling success alone in Congo would be enough.
I’m down 50% right now across all my investments.. not panicking just accepting market for what it is
What its worth and what he paid are two different things.
Look at the director buys list.
News on several fronts due near term and his presentation in March.
Congo,Azer,Coro and that other African Asset that he rns`d about are in the mix. lol
Sorry but ac's holding is worth only £400k and I think he is incented to keep the company running as long as possible, whatever dream project he keeps chasing. He is using more money from others than his own imv.
AGEOS do you still have confidence in Congo and AZER ops coming to successful fruition?
Holdings dyor..
AC 40m+ shares?
Dean Clark 50m+?
Milton ?
Board Members millions?
If this goes wrong they`ll all be losing a lot of money!
Come on AC.
buy price is now 1.07p for size. Expect the offer to come down as well soon, from the advertised 1.15p
Sadly, AC does not seem to care one bit about structurally creating value, by actually producing more oil from the fields in azer and actually telling shareholders that the italian gas assets are actually being developed.
This sudden focus on everything except azerbaijan is typical behaviour of someone who has lost interest in it. He is acting like it doesn't exist anymore and is trying to get people to focus on the new projects - well, we want to see success in azerbaijan, otherwise he is toast in the stock markets and not just the london ones.
AC is rapidly being associated with abject failure and will very soon find out that not one person, with any thought to their own reputation, will be party to any fund raising he tries to get through.
Zenith needs to pump oil now, in azer and prove to the market that it can deliver on its stated objectives - in a timely manner, not "possibly, maybe, somehow, somewhen"
sort it out andrea FFS.
Unfortunately not surprising as we need more than ‘we wish’ and ‘we hope’ ..... we need confirmed news ...... Azer update would come in handy as that’s currently the fastest route to increased production and money in the bank .....
On another note what happened to the appointment of Advisor for Development in Africa? Wasn’t this role due to commence during February??? Dyor
sale gone through at 1.02p - expect the bid to be down to 1p shortly