Member Info for CanaryInTheMine

5.2 million shares traded in Norway, so a slow day there.

2,000 - 5,000 bopd is what AC said in one of the conference calls. There are also other deeper layers that could potentially deliver much more but these will only happen later.

Moses51, there have been almost 3 million trades on the Norwegian bourse so far today and that is actually a quiet day for Zenith. 10 million shares traded is about average and on a news day it is around 36 million. These are the same shares as traded in London, just many more of them. Check here: https://live.euronext.com/nb/product/equities/CA98936C1068-MERK

All small cap companies issue options every year, it is one of the ways that they attract key staff. Zenith issue them every January and issued 45 million last year. The fact that they issued them again this year is not a surprise and it is not a problem. If the options are exercised then the will also generate the company around £450,000 also, so this is not just giving shares away.

mls Last week you were raving about what good long-term potential Zenith had when you bought another 50k worth of shares and I am not sure why you consider the issue of options at a premium to the current share price as bad news. This happens every year and I thought that someone such as yourself, who has been invested here for so long would realise that. The issue of options does not change the fact that we should shortly have the Tilapia license and a couple of new Tunisian acquisitions in the bag. Don't be sad because of something that you knew happens every year, be happy about the future like you were last week.

To me the RNS reads that Zenith are continuing to develop their bond scheme and existing revenues service the debt comfortably. This may not mean much now but could be big for the company in the future. Can anyone think of any other small cap oilers that are successfully selling and servicing bonds?

Takeyourbets it is obvious why mls678 is buying and it is because Zenith are massively undervalued. at the moment. The company are about to sell $10 million worth of oil and this is more than half the current market cap. This is due a massive re-rate and when Tilapia comes in the share price is going to rocket. Everyone should be buying more Zenith shares now and mls678 is completely sensible to do so.

3.1p is a good start for a valuation for 2022 but if we develop Tilapia and Nigeria as anticipated then I expect at least 10p by 2023.

12 million shares traded so far today in Oslo.

The key part of this RNS is the timescale. The exclusivity agreement expires on 1st March and this suggests that all parties think that the ADME legal claim will be dismissed by then. Tick tock...

That tweet is just additional confirmation that we will be acquiring more Tunisian assets in the near future.

Nice find AGEOS. It looks like new Tunisian acquisitions are on the way to go alongside the workovers at the current concessions there too. Also, according to the tweet from yesterday Zenith are doing the same thing in Italy and developing the existing gas assets while at the same time acquiring new ones. Looks, good to me but I would like Tilapia news sooner rather than later. Have you heard any whispers on this?

Not much happening this week? Aside from the repayment of 2.3 million euros from the bond then you are correct.
Three weeks ago was the exclusivity deal over Barracuda.
Four weeks ago was the acquisition of 22.5% of SLK from CNPC.
How much do you actually expect to happen on a small cap company on a monthly basis? By any normal standards Zenith have been busy as anything over the last month or so.

Update on the Noble Hill website says that ADM never owned any of NHNL and were lying in their RNS. They say that they have reported them to the regulator. Seems like the Nigerian license will be ours if we want it, but this is going to get messy for ADM if they have been lying to the market.

That letter is completely damning. There is no way that ADM can possibly have any claim on the Nigerian license if they have completely failed to make the payment required to have any ownership of it. If we can come up with $1.75 million in funding for the seller this this Nigerian license is ours.

It doesn't matter how we are funding the purchase as it only costs $1.6 million but it comes with $2.5 million worth of oil. So Zenith are making $900k on just doing the deal. It funds itself.

Only a fool would ever say no more raises in a small cap company but I reckon that there will be no more raises unless for asset acquisitions.

SLK is nice in the short term as it comes with oil which is easy to turn into cash but it actually only produces about 500bopd with 45% net to Zenith.
As AC said in the investor call, they hope that Tilapia will produce 5,000bops where 56% will be net to Zenith.
Only one of these two assets is the company maker and it isn't SLK. A successful Tilapia is worth more than ten times SLK.

Yes, thanks MGS.
MLS, I am not sure why you thought that the investor call would raise the share price, surely it is just additional background information for those already invested as anything market sensitive would need to be released by RNS.
The news that we are expecting that would drive the share price forwards is SLK acquisition, Tilapia approval, Nigeria acquisition and the results of new wells at Robanna and Ezzaouia. Any and all of this will lift the price significantly, not an investors conference call. The ICC is better comms than most junior oilers though so we have to give AC credit for that.

Florida, I didn't read it that Zenith would get the 120,000 regardless of KUFPEC's renewal of the extension at all. They say explicitly in the credit report that "the agency is not using these figures under the predefined assumptions as there is no clear pathway for the completion of the acquisitions." so my reading of this is that Zenith get the 120,000 barrels if the deal goes ahead and not if it doesn't.