Member Info for CanaryInTheMine

I'm losing track now - which marginal fields are you talking about? In what country?

The existing deals that Zenith have done with Tunisia for Sidi El Kilani are for producing fields so I would be surprised if any new Tunisia deals were for exploration as I think that the Tunisia focus is on delivering cashflow. However, it is worth remembering that we have two rigs and only one of them will be any use in Tilapia so some exploration upside in Tunisia may not be the worst thing in the world anyway. As I keep saying the key thing is to get the Sidi El Kilani deal over the line as that will be worth several million dollars straight into the Zenith bank account.

Mudstud and mls678 - you appear to be very keen on talking about whether or not other people have bought shares here today. Perhaps you would be kind enough to let the rest of us know if either of you actually own shares in Zenith. You have always refused to answer this question in the past which makes me very suspicious of your motives here.

he is clearly trying to acquire a new asset in Tunisia at the moment as we have been told from the RNS from 24th February where they got money for acquisitions and the tweet from just before where AC said that he was looking at assets in Tunisia.

I think that you are overstating the importance of 31st March though. This may be the year end but the really important date is when they have to publish the accounts to the markets which I think is September 30th. Anything major that is done after 31st March still has to be mentioned in the annual report and that is the thing that will have an influence on credit etc.

flingaas, thanks for clearing this up. So it is not an acquisition by a pension fund but akin to TD Waterhouse announcing that they have a 5% stake in a company - but in effect they are just acting as nominees for many hundreds or thousands of small shareholders.

Still, this is a good sign of investment interest nontheless. Hopefully actual pension funds will follow later this year.

Latest RNS shows that we have Nordnet AB on board with 5.1% of the stock. It looks to me like they are a pensions fund from the bit in the name box that says "Nordnet Pensionsförsäkring AB 516406-0286 (SE)AB 516406-0286 (SE)" but I am not sure.

This feels to me like we are picking up momentum from institutional investors in Norway and this will be fantastic news if we are. Do any of our Norweigan posters know who Nordnet AB or Nordnet Pensionsförsäkring are so we can get clarity?

GosiaS - on what basis are you worried about debt funding sending the share price down? From everything I can see - the good terms and the use of the money to buy additional assets it should send the share price up significantly.

There are an awful lot of derampers on this board who like to do down the company and AC at any opportunity. They all have a terrible track record of predictions and investing and often have trouble telling the difference between the various different entities that Zenith deal with. They also never answer the question of if they are invested or not. i wonder why that is?

Mudstud - did you really post: "Looks like a pump and dump to me. The silencee is from the posters all quiet now that we're saying there would be news before Xmas. Best to listen to the doubters who have seen this before." on the 23rd December 2020? That was the day before they announced that they had been selected as preferred bidder for Tilapia II.

You could not have picked a wore time to make that gloating comment. No wonder you lose money on your investments, your timing is awful.

I have a question for you by the way - are you still invested here?

The message could not be clearer. AC is back in the Congo again and this time he is talking to the SNPC about the money owed AND negotiating new licenses! Both of these were mentions in his interview with Stefania and he said that he was sure the SNPC money would be repaid and also that in the Congo Zenith were discussing our second and possibly third and fourth assets. It looks like he is delivering on both of these statements big-time.

Florida - I got the numbers from one of Market Gunslinger's posts at the end of last year. I will see if I can dig out the details of exactly what one it was later on tonight.

For all of the new posters who are coming here - firstly welcome to the site. You are joining Zenith at a massively exciting time for the company. Secondly, please note that like most boards on this site you will find some hard-core derampers here for whom the company can do no right. It is best to ignore them, but I am sure you know this already.

Key points to know about Zenith Energy

1. Zenith are shortly to be receive a 25 year license for Tilapia in the Congo.
2. Zenith have their own rig to drill their wells with.
3. Zenith are owed $5.7 million by the Congolese government’s national oil company.
4. Zenith are about to be granted a license for their purchase of two Tunisian assets and this comes with backdated oil revenues of up to $2 million.
5. Zenith are expecting a license in Nigeria from the marginal oil fields bid there
6. Zenith have started a joint venture with Fleet Oil & Gas who are owned by the former Egyptian Petroleum Minister, Mahmoud Latif Amer. They are looking at acquisition opportunities together (presumably in Egypt).

Massive news! He says that Zenith really impressed the Congo delegation and are now going to be treated as a preferred bidder for future license rounds in the Congo. https://www.guerillainvesting.co.uk/2021/01/25/zenith-energy-congo-update/

Yes, great find TYB.

That is certainly a hint that Zenith have been successful in the Nigerian marginal fields application. Add in the Tunisia news and we are ready to rock and roll.

Gary, you are absolutely correct, they cannot sell the oil twice so anything sold before now will be at the lower oil prices and anything from now on will be higher. I wonder how often they sell though, monthly?

The price of oil was only $50 when it was calculated that the money generated from Tunisia was around $2million, so this should boost it up by another 10% to $2.2 million coming in as soon as Tunisia is signed off.

"When are you expecting to get the Tunisian approval?" would be a good question to ask on Friday.

Has anyone asked any questions? You can submit them here if you have any: norway@zenithenergy.ca

The call is on January 8th at 9am our time. Details here https://live.euronext.com/en/product/equities/CA98936C1068-MERK#CompanyPressRelease-3661118

They usually put it up on the Zenith website the next day.

The fact that the investor call is at the end of this month suggests that there will be more good news between now and then. The only question is how much news and how good?