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Find all this a bit odd, just doesn't seem right that this wasn't suspended. Now open to massive manipulation.
Really really happy for all the LTHs.. this looks like shaping up to me amazing for everyone involved.
Another flat update really, nothing none of us didn't already know. Seems like the wait continues!
You do know the thing you've put money into is an Investment right? Sometimes I feel like people think this is Paddy Power or Ladbrokes, Companies take years to build up so what if it takes longer than expected.. or is this just a quick punt to most people that want a bit of beer money?
The one which they've clearly dispelled in their tweets you mean?
Give it a rest.
April 21, 2021
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Binding Offer to acquire oil production and development assets in Tunisia
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 made a binding offer (the "Offer") to wholly acquire a company holding a 100% interest in two hydrocarbons production and development concessions in Tunisia (the "Potential Acquisitions"), which has now been accepted.
Terms
The Offer is represented by a mix of cash payments and assumption of debt by Zenith for a total consideration of approximately USD$200,000.
Production
The Potential Acquisitions currently produce approximately 80-100 barrels of condensate per day with 5.5-6 MMSCF of natural gas, which is re-injected into the formation, from the first Potential Acquisition concession, and approximately 25 barrels of oil per day from the second Potential Acquisition concession. One well within the first Potential Acquisition concession suffered tubing string damage and has been temporarily shut-in, having had a stabilised production range of between approximately 500-600 barrels of oil per day prior to production being suspended. The low oil price environment during 2020 and the material investment required to restore production from this well have prevented the necessary repair work from being implemented.
A recent study carried out by seller in respect of the second Potential Acquisition, comprising production, cost-effectiveness and feasibility evaluations, concluded that the current production of approximately 25 barrels of oil per day could be increased to up to approximately 200 barrels of oil per day via drilling activities. The seller did not implement the recommendations of the study due to the low oil price environment during 2020 and the emergence of financing difficulties.
Terms and Expiry of Potential Acquisitions
Both Potential Acquisitions will be acquired with a 100% working interest.
The Company can confirm that the Potential Acquisitions are due to expire during the years 2033 and 2034 respectively.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
"We are very pleased to continue further enriching our portfolio of oil and gas production and development assets in Tunisia, especially with these Potential Acquisitions which contain significant untapped potential and opportunity for value creation.
We expect to shortly achieve a daily production in excess of approximately 1,000 barrels of oil per day by way of our recently announced acquisitions, as well as the near-term development activities we intend to perform in these assets, which would very favourably position the Company in terms of profitability in the current oil price environment.
I look forward to sharing further information on the Potential Ac
Tiger16 - please stop replying with absolute nonsense you have no idea what you're talking about. Thanks
Find it Bizzare everyone asks the same question every 30 seconds.. their is a big seller in the background and will only start to rise once those shares have been sold and started to be bought. Can everyone stop asking now.
Our Money lol
I have to say I'm really disappointed in the ODX Journey so far, no doubt these guys are doing amazing things in the background but we as shareholders aren't getting to hear about most of it, and when we do it seems to come off in s negative way, whether that's anything to do with now being under the Government's wing I don't know, I'll stick it out for another month and hopefully it will turn a corner. If not I'll try something else.
Have to say it's a really disappointing way to announce good news.. it's almost as if Colin doesn't want people to invest in ODX lol.
It genuinely puts me off wanting to read these boards. It's like watching a bunch of teenage virgins let loose in a Club for the first time.
Clearly didn't read the RNS properly - they were snapped up by a Russian Company so the shares weren't sold and left vacant. Things should be back to normal today at least
How would you know it lasts up to 5 months and stays effective without testing for antibodies regularly? Testing will be needed for years. Daft to thing otherwise
This Board is a bit like watching a bunch of teenage virgins let loose in a Club for the first time. Calm down ffs.
If anything I'd say that was a terrible update. Nothing to sell yet and no orders. The only half positive was that he said people know they will have the capacity when they finally do get their act together.
Interesting Article in the Mail just posted about the Government ordering 2 million Lateral Flow tests from a Company called SureScreen Diagnostics.. not sure if anyone can shed some light on it?
https://www.dailymail.co.uk/news/article-9129953/Rapid-rollout-Covid-testing-blitz-people-work-home-lockdown.html
I've come to realise very very quickly this site is full of complete and utter time wasters and people with absolutely no idea whatsoever. I've only ever seen a very small handful of posts that are useful. Rest are just clowns.
Seemed quite apt to be fair, and what I was thinking earlier. He said it better than I ever could, I'm here for the long run so all good with me.
First time poster on here so forgive me but it always amazes me how quickly 'Investors' can make an assessment on how a Company is progressing so soon after news.
Must be lots of clever people on here!