Member Info for CanaryInTheMine

The KUFPEC extension expiry date has officially passed, but I think that if there were any problems with this then we would have to have had an RNS announcing that the deal has fallen through. In the circumstances, although it makes for poor comms from the company, the lack of an RNS is a good thing as it means that the deal is still alive.

Yes Florida, you are right, ROb-1 is $550,000 and ROB-3 is $1,500,000.
Sorry I go that wrong, but at least it is good to be wrong thinking the costs are higher than they really are, rather than the other way around!

Zaphod, you are mixing up the well costs. It was ROB-3 that cost $3 million. This workover only cost $1.5 million so it will be repaid in 6 months. Even better!

Boooom! Zenith delivers and the production rate is higher than my 100bopd guess. 650bopd production coming out of Tunisia now. After ROB-3 and a couple of workovers in Tunisia then we will be hitting 1,000bopd in Tunisia alone in no time. When we add Congon and Nigeria, Zenith have the potential to be a serious player. Well done Andrea.

Thanks for that AGEOS I suspected that the video would not tell us anything but I still hoped that I was wrong.
I am impressed with how much oil people on here think that ROB-1 will produce after the workover since it was only producing 20bopd beforehand. For me anything over 100bopd would be an incredible result as it would bring in quite a lot of cash to the company and also prove that Zenith had got operations in Tunisia under control in a way that they never did in Azerbaijan. 200+bopd and I would think that I had woken up in an alternate dimension. I'd be very happy though.

Thanks for that Takeyourbets. Judging by the way that machinery is pumping away in the video I may have to revise my guess higher!
Seriously though AGEOS or MGS is there any way of us telling from that video how much oil the pump is likely to produce?

Since we should be expecting the Rob-1 flow rates any day now let’s have a little fun and see who is the most accurate amongst us in picking what these will be. I am sure that most already know this, but:
1) Before the workover it flowed at 20bopd
2) Historically it used to flow at 50 bopd (before the last workover)
3) The company were hoping to increase the flows to between 60-80 bopd.

I think that from reading the last RNS then we are going to do better than the company originally planned and so my guess is for flow rates of 100bopd.

The big thing is that AC is delivering on his promises. He has acquired new producing assets like he said he would and they are delivering oil and cash to the company. But what is a really big deal is that the improvements in production appear to be being delivered in Tunisia in a way that Zenith were never able to in Azerbaijan. It looks like the right lessons have been learned. If we can keep doing the same in Rob-3 and Eazzaouia then the target of 1,000 bopd production from Tunisia could feasibly be reached and that is big money.

Go Zenith!!!!!!!!! Go Andrea!!!!!!!!!!

This share is going to be a multi-bagger and a total game changer for me and my family. How much do you think the share price will go up when the new production news comes out on Wednesday?

I agree with MGS I think that the news out of Oslo must be Robanna as the company said in their 12/10 RNS that they expect ROB-1 operations to be concluded in 10 days. There are always delays in oil company timescales but we are expecting this any day now. Also, the Oslo rise is not significant enough for it to be news on Tilapia. I would expect a really big uplift when than news is about to strike and at least 2.5p on official confirmation. But that is good for me as it means good news to come and then even more good news to come. We all know that Tilapia is going to be the real big driver for Zenith, it is just a question of when we get the news.

Well this is massive. 232 million barrels of discovered oil with the potential to increase to over half a billion barrels of contingent and prospective resources.

This is a massive for Zenith. As pawnsacrifice said - WOW.

18 million shares traded so far today in Oslo https://live.euronext.com/en/product/equities/CA98936C1068-MERK/overview the last time something like this happened was when there was that mad rise around Christmas. Norway just started to go up up and up and then London followed. Let's see what happens this time.

Zenith are producing oil, selling it for money and have massive amounts still left to produce in Tunisia. As AC says in the RNS too, the 2P reserves will more than double when the SLK acquisition is approved and the Tilapia 2 license is granted - both of which he said in the investor call are definitely going to happen! The future is bright, the future is Zenith!

Thanks Gary. I have just watched that video and it is pretty awesome to be honest. It gives a real feeling of the sheer scale of the Tunisian operations now. Loading a tanker with oil is big-boy stuff and it feels like they really are well on their way to becoming a proper oil company.

Zenith investor conference call is up on their youtube site for those that didn't hear it: https://www.youtube.com/watch?v=UIAyFYU8PHg

There has never been a more exciting time to be a Zenith Energy holder. With the company now producing oil at a rate of 650bopd and having already sold $4 million oil since January.

We have producing assets working away in Tunisia, which are going to produce more when the workovers are finished.

We are soon going to be granted a 25 year license in Tilapia and will get the repayment of the $5.7 million owed.

We are likely to acquire a massive Nigerian llicense producing between 3-17,000 bopd.

We are going to be able to finance operations through issuing debt. not equity.

When the market really starts to cotton on what the potential is here it is going to re-rate fast.

So Zenith are now fully funded for the well intervention from El Bibane and the workover at Ezzaouia. From what they have said then these should deliver an additional 800 bopd to the company once completed and the revenue that is generated from this work should pay back the loan. Obviously there will be some dilution for the first month or two while they get the workover done but this should only be E500k max and then we should to see the following repayments funded out of oil sales.

It is not just posts that are negative about the company. My post earlier that mentioned Alex MacDonald the former director of AAOG who has been trying (and failing) for years to take over Tilapia was also removed.

First institutional investor on board and the warrants are basically at 2.15 and 2.8 so they mush have faith that we are going to hear something soon. I wonder if this is linked to the fact that AC is currently in Africa and said that we were likely to hear about Tilapia soon?

I have just watched the video about the aerial view of El Bibane, Robbana and Ezzaouia concessions. They are massive and much more developed and high-tech than I was imagining. Candax must have spent a fortune on them over the years and because they are going bust we have got them for next to nothing. This is a really serious upgrade to Zenith's portfolio. We are playing in a different league now. Well done AC!