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Wasn't going to comment on the present situation here, I normally don't on stocks I don't hold, and this will be my only post, but I have a lot of history with this company and the OP's comments just make me despair.

Of course every investment decision is down to the individual - in that respect everyone's outcome here is down to themselves. That may sound callous, but the truth is - it really is nobody else's fault - the warnings were there for everyone who cared to look.

I could identify a series of events( and often did) , from Nervesa discovery changing to missing gas, to a Plug&Play Sidi deal that turned ridiculously opaque and consequently morphed into miraculous multiple TCFs, pure nonsense Algerian analogies, hyperbolic share-price predictions, a Gherkin event that appeared purely to be a vehicle to promote Echo and for Parsons, Fumagalli and White ( the chairman of SOU at the time ffs) to rinse and repeat and exercise the warrant scheme that had proved so successful to CIP. Ultimately it was Parsons selling post TE-8 (and significantly seismic) under the guise of a trading plan that removed the need for him to restrict his trading in closed periods and offered him the opportunity to effectively trade 'inside' that should have been the biggest red flag of all. When he said Marco isn't just an investor, he's a become a friend was the surest sign that the CEO no longer thought himself a servant of the PI, but aligned his goals elsewhere.

I remained invested here purely on a belief in the Tendrara asset. Bit by bit that belief was eroded and I gradually sold. There are those who invested in the management, and I remain friends with some who still have faith - despite many conversations where I expressed reservations. Those of you who have berated, chastised and even threatened those faithful investors should be ashamed - there is no malintent, no conspiracy, no agenda. Just investors who believed the dream. If you are looking for someone to blame - look inward or to the management.

Finally I will say that I think this deal, Parsons, Davies and JJ exiting is a travesty. A cowardly act designed to extricate themselves from the hole they have dug (Maybe not JJ), a hope that they will walk away unscathed, a ruse to deflect the shining glare of the spotlight. Moreover, they leave the fox in charge of the hen house; after all he still needs his pound of flesh in bonds, despite making more than enough over the years through those generous warrants. He gave his friends free rein to sell, it was another flag worth noting, Do not trust him!

I genuinely wish a good outcome for those left in here, and it still may happen. However sometimes I get the feeling that there are those that will never sell, no matter how high the SP, no matter how low, no matter how many red flags, no matter what your gut tells you: Until those shares are taken away either through a sale, the company taken private, bankruptcy or whatever they can't let go.

Buying a can of 3-in-1 would enrich our asset base atm

The actual report always contains a post-period section, however I meant within the RNS as he has done recently. The comment in the the report is vague to say least and will do nothing to ease concerns.

'On October 9, 2019, the Company provided an update on drilling results at well C-37 in the Jafarli oilfield, confirming that continued flow testing of the well recorded an increased production rate.
Further stimulation of the well, which may include swabbing operations as well as the performance of nitrogen stimulation, may further increase the rate of production. The Company will update the market in due course regarding these operations.'

Not accompanied by a post period operational update unfortunately. A perfect opportunity to remove uncertainty and regain market confidence missed imo. My suspicion now, and hopefully ill founded, is he's of the philosophy of some here that it's better to say nowt if you've nowt good to say and he's hoping before he's obligated to disclose Q3 figures in February next year, operational developments will be sufficiently improved to bail him out. Gla.

Slice - yes she was there - I supposed as a freelance representing Zen

If AC has hired Sarah Dees to deal with investor relations - then I guess she's a tad busy with a certain car crash elsewhere atm

Mudpump, I don't think it's a lack of intent, but a lack of funds. The last raise will hopefully cover C-30, but little beyond that. The importance of confirmed production and revenue increases from C-37 cannot be over emphasised and hopefully we'll get so sort of indication with the next quarterly operational update. I'm confident we will need more money before the next drill so let's hope it is not down at these levels.

Orjones - Who else do we know has input on strategy here then? Also if you know all other companies have failed why do you think an inexperienced oilman can succeed. Being pragmatic about a stock and commenting on a company's shortcomings is a shareholders duty imo - I certainly don't go around doing the same on stocks I don't hold - what would be the point in that?
AC has some good qualities I'll grant you that - I've met him quite a few times and I quite like the bloke, but those qualities do not include operational expertise - he is a financier pure and simple. As chairman, CEO, president or whatever other title (not including marquiss) he holds - has total control and there is no oversight and nobody to rein him in.
Zeb16 is correct - we are under capitalised and this is down to our failure to improve production in nearly 3 years and continually having to raise funds from a position of weakness. He has a vision and I admire the boldness in acquiring the rig etc. But he has to recognise his limitations. Anyway lets hope C-30 'blows the bloody doors off' - else it'll be C-3PO and 'help us Obi Wan you're our only hope'.

Kam, are you suggesting that investors should not post factual data and realistic, albeit negative, opinions because people will sell? And by that token infer we should all post positive stuff encouraging folk to buy, or at least not sell, despite the actual reality of the situation? Sounds rather underhand to me; worthy of the Twitter ramping mob.
Fact is this is an asset play, as you say we know the oil is there, but the person currently incumbered with removing from the ground has to this point failed to do so (C-37 confirmation still required). He has failed because of naivety, hubris, ego and inexperience. I would suggest that everyone invested here remains only because of the asset potential, and if it wasn't for that there would be zero investment case.
What is opined here will in no way affect the fortunes of the company, they will either be successful or not. Also, I'm not convinced it affects the SP, but even if it does the first point means it's ultimately irrelevant unless you're trading . The responsibility for current situation lies at the feet of one man, and it isn't anyone who posts on here.

Bots, to me nearly all his comments are a smokescreen, he's like a WWII destroyer - emanating an impenetrable miasma of gobbledygook. He may have a load of shares but he's also a very wealthy chap, not sure this going Pete Tong would affect him too much apart from denting his pride. He's certainly enthusiastic and I think fundamentally he means well, but sometimes I get the impression that this is some sort of hobby for him, a personal project where us shareholders are just some necessary inconvenience to provide the funding.

Yes RH, that was the funniest part of the interview. Another classic Cattaneo analogy to deflect a perfectly straight forward question. Flanking movements in the heat of battle, etc etc. If nothing else he's certainly value for money for entertainment. *Sigh* This time next year Rodders! Have a good weekend all.

That's why I said I'd reserve judgement until I see the terms, coupon etc. Shez, and of course by that time our ability to service that debt. Which brings me back to...

SEA I fully appreciate the logic of your thoughts, and I understand that we do need funds outside of revenue to progress - I was in cynical mode again - an ever more frequent failing where ZEN are concernced. However, in all seriousness Mr Cattaneo can play the markets like Miles Davis plays the trumpet before I care; the success of our investments rests on ZEN increasing production to the point where we do not need such diverse and inventive financial acrobatics, and so far in this area his performance is more akin to this https://www.youtube.com/watch?v=xfcMNCW9Peg

That made me chuckle AJ

Or SEA7 he could have got some of that black stuff out the ground and sold it. Non dilutive is good but I'll wait to see the terms of the first issuance and what it's spent on before passing judgement. Best scenario will be they won't need it.

I have no idea what he is up to now and to be frank it's becoming very tiresome, but it seems to me he spends an inordinate amount wheeling and dealing and not enough time focusing on what he has been telling us he's going to do for 3 years - increasing production, revenue and shareholder value...and it shows! My patience is fag paper thin now.

His son was there, and yes I think he is/was doing IR etc. However also there was Sarah Dees (Sound/Echo IR ex or continuing I don't know) who appeared to have been very recently engaged by Zen in a similar capacity. Make of that what you will; not frightened of a challenge it would seem

If you're expecting results from M247 in December then you'll probably be disappointed. On past performance I'm still not convinced they'll manage C30 by then, but I'm will to be pleasently surprised. It's reasonable to expect stated objectives to be achieved within a certain window allowing for inevitable hold-ups etc. however experience here has led me to take any timelines and statements of intent with a large pinch of salt; it helps later.

This will only move when there is definitive evidence of increased and sustained production and revenue; or possibly our drill program produces some really outstanding results. There are several of the regular Twitterati saying this is untouchable which won't help, and I sense a degree of unreasonable animosity there for whatever reason. However, even if you put no credence in to those comments, the company has underperformed sufficiently and consistently to make even sensible objective investors wary. Unexpected blowout aside, the last well was the first piece of decent news since the LSE listing and hopefully we can progress from here, but it will be a hard slog to regain some trust and instill some market confidence .

Available now for those that couldn't attend

https://www.youtube.com/watch?time_continue=1&v=TDTyQszi8o0