$2 million cash due on Tunisia approval29 Dec 2020 11:26
As per MarketGunslinger's post last week which I have c&p'd below
From the calculations I have just done Zenith should expect approximately $2 million to come into the company by this time next week. This is because as soon as the Tunisia deal is approved as they are due all of the oil that has been produced from each of the two shares that they have bought from the ate of purchase.
Calculations breakdown as follows
The deal with KUFPEC explicitly states that Zenith Is entitled to their 22.5% of all oil produced from Sidi El Kilani since April 20th 2020. Zenith Energy Regulatory News. Live ZEN RNS. Regulatory News Articles for Zenith Energy Ltd. Com Shs Npv (Di) (lse.co.uk)
The deal with CNPC was signed on September 8th and presumably works to the same arrangement meaning that Zenith will also their 22.5% of all oil produced since September – though it is worth noting that when Zenith start acquiring the oil is not explicitly stated in this RNS Zenith Energy Regulatory News. Live ZEN RNS. Regulatory News Articles for Zenith Energy Ltd. Com Shs Npv (Di) (lse.co.uk)
Since April 20th Sidi El Kilani has produced 133,261 barrels of oil according to the Tunisian govt ETAP: Production journalière so Zenith’s 22.5% share of this (based in the KUFPEC deal) is 29,984 barrels of oil.
Since September 8th Sidi El Kilani has produced 55,339 barrels of oil according to the Tunisian govt ETAP: Production journalière so Zenith’s 22.5% share of this (based on the CNPC deal) is 12,451 barrels of oil.
In total, Zenith have 42,435 barrels of oil, which at today’s oil price of $51 would be worth $2,164,185.