Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
After all this time for my part they can wait a few more days. Then, hopefully, I can have a result with Zenith and then get the proceeds into TXP before they announce first gas. Will the planets align for me this time....not holding my breath.
Quite right HH100. But things still go slow. Government and Departments often do not have sufficient continuity to achieve the goals expected from them, so timelines are not met. BUT, I invested in Zenith 20 months ago and I have never been more positive. AC is building a solid expanding company.
No "just" the ratification of the governemnt required now....
February 10, 2021 ZENITH ENERGY LTD.
("Zenith" or the "Company")
Successful completion of IPU in Congo
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that it has now received formal confirmation regarding the successful completion of the Inquiry of Public Utility (EnquĂȘte d'UtilitĂ© Publique) ("IPU"), following an in-depth technical and financial review, performed by the Ministry of Hydrocarbons of the Republic of the Congo during the month of January 2021.
Plenty of knockers here at the moment.
Tilapia is a now a bonus for me, and it looks like it is closer now with at least one agreement being signed this month by the Government.
The company is building a stable base with income. Credit Rating is improving, so potential to fund new projects is better, hopefully with less dilution going forward.
I am confident in Zeniths future. Lets hope AC stays fit and healthy and Merry Christmas (that's to all you Scrooges too ;-)
The good thing here is that Zenith are delivering what they have promised and building up the markets trust. Eveyone knows that the time frames i Africa are like nailing jelly to a wall, and that predicted dates will overrun. Keep it up the good work!
Congo is a case of TIA, new Government, changes at OD and then i presume a difficult PSA negotiation + Zenith are owed just under 6MUSD. So few things for Andreas and his Country Manager to work through. If they get that over the line, it will be amazing. Then we are talking uplift. But i am greatly impressed by what he has achieved in Tunisia, both for the money and time period. Applause all round Andreas!
This message at least tells us that the system is working in Congo as approval has been given for this project by the Minitry of Hydrocarbons. So hopefully Tilapia PSC is churning its way through to final agreement.
All quiet from this partnership so far: https://newsnreleases.com/2021/01/11/zenith-energy-fleet-oil-gas-sign-cooperation-agreement-for-new-acquisitions-in-mena-region/
I presume they must be working on a at least one project together? Or are they brought in to develop the fields which Zenith have alredy acquired, ref:
Our main business development strategy is focusing on identification and acquisition of certified oil & gas fields that have reached a mature stage targeting a profitable business model through optimization of production rates and maximizing ultimate recovery through adopting efficient cost management practices.
callit - Yes, i agree. A critical opinion, but is AC looking to build fast today, borrow & pay tomorrow. Sometimes opportunities are hard to turn down or maybe he has no option. Tunisia doesn't want to pay millions of USD out.
Or build Zenith brick for brick and get some larger investors and a higher, stable share price.
I personally am hoping for both cash and a license or a producing license to fund other activities going forward.
callit - Yes, i agree. A critical opinion, but is AC looking to build fast today, borrow & pay tomorrow. Sometimes opportunities are hard to turn down or maybe he has no option. Tunisia doesn't want to pay millions of USD out.
Or build Zenith brick for brick and get some larger investors and a higher, stable share price.
I personally am hoping for both cash and a license or a producing license to fund other activities going forward.
So AC has been in Tunisia.
- Is the purchase rubber stamped by the new Government and approx. 3M USD on its way in to the Zenith account?
- Or have they done a deal for a new license? Is it a producing field or one with "potential"?
- Would a field with potential be positive for ZEN at the moment, when they already have a large commitment to a planned drilling campaign Congo..
Just few question churning around in my head and worried about overstretching at this phase...
Ps First post, so please be gentle..