Member Info for CanaryInTheMine

As I recall WG818, you WERE one of those who originally dismissed Salfleetby as "Poundland". Just saying.

Exactly. I am sure that a lot of them are the same people who originally dismissed Saltfleetby as "Poundland". There are many on these boards across all different shares who seem incapable of distancing themselves from the past. Because they have lost money on a share years back they are determined to keep attacking it at all costs on the assumption that once a company has failed at one project it can never be successful at any others. Ludicrous IMO but proved on lse time and time again.

Thanks, I've got it now.

I do not think that the fact that there were 8.3 million shares in issued over a decade ago is relevant to Zenith today, because it isn't. I am curious as to why you and others keep going on about it as it appears to serve no purpose other than to deramp the company. Even the supermajors have many more shares in issue today than they did back in 2023 let alone most small cap companies.

Can somebody tell me the address or name for the clontarf telegram group please?

The fact that you care that there were 83 million shares in issue over 10 years ago when the company was listed in Canada shows that you are stuck in the past. I care about what happens in the next year, not what happened over ten years ago. Sorry if this upsets some on this board, but success will be about acquiring the next asset sand not crying over share price drops or shares in issue from yeas ago.

I don't think it matters much about how it was fixed or at whose expense. Just that it was fixed quickly and production was halted for the minimum time possible.

Alternatively, one could adopt a positive perspective. The company is making progress in its pursuit of acquiring US assets and successfully financing most of these acquisitions through stock rather than cash. Additionally, it has the potential to earn over $50 million if it achieves favorable outcomes in ongoing court cases. Furthermore, negotiations are underway for the acquisition of significant assets in Benin, Yemen, and South Sudan. Who cares how many shares were in issue a decade ago. I certainly don’t.

That is pretty quick going on the US acquisitions. I'm impressed. Let's hope that they continue in this vein and South Sudan happens just as quickly.

Second acquisition in USA

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that its newly incorporated fully owned subsidiary in the State of Texas, Zena Oil & Gas LLC, has conditionally agreed to fully acquire a portfolio of mineral leases and oil and gas wells in the State of Texas, United States of America (the "Acquisition") from the wholly owned subsidiaries of Beam Earth Group Ltd. (the "Seller").

Terms of the Acquisition

The Company has conditionally agreed to fully acquire, subject to a definitive purchase and sale agreement ("Completion") certain oil, gas, and mineral leases and oil and gas wells for a total amount of US$1,027,500 (the "Consideration").

The Consideration will be payable 60% in cash, representing the amount of US$616,500, and the balance of 40% will be satisfied by the issuance of equity to the Seller to be admitted to trading on the Euronext Growth of the Oslo Stock Exchange, priced at the average closing price of the last 5 trading days prior to the achievement of Completion (the "Equity Consideration"). Admission will also be sought within 12 months of any issue under the Equity Consideration to the Main Market of the London Stock Exchange and the Standard Segment of the UK Official List.

The Seller have agreed to retain the Equity Consideration for a minimum of three months from the date of Completion. Zenith will hold the right of first refusal in the event of a possible disposal of the Equity Consideration, subject to the terms to be agreed at Completion in the definitive purchase and sale agreement.

Acquisition Highlights

· The Acquisition comprises of 155 oil and gas wells located in the vicinity of Midland (TX) across licences named Corsicana, Powell, BrookLaw and Sun Valley.

· 47 wells are currently active with a daily production of approximately 60 barrels of oil per day ("BOPD").

· It is expected that production can be increased to an average rate of 100 BOPD with light workover and field rehabilitation activities within six months from Completion.

· Located in the State of Texas, a prolific oil and gas petroleum system with favourable fiscal terms, relatively low production costs and the ready availability of technical expertise and equipment.

· Zenith will commission a Competent Person's Report in compliance with Canadian securities laws, specifically the COGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities - to obtain an updated reserves evaluation for the Acquisition.

The interesting thing about the video that Sudan video is when Andrea stated that South Sudan want to negotiate the contracts quickly and they accept the fact that they will have to deal with more junior operators. This implies that there could be a deal done pretty soon.

So there has been a lot going on behind the scenes in France that we didn't know about and we should have a further update in less than three months time. It just shows that no news is not always bad news. Lets hope we are making similar quiet progress with the Yemen, Benin and US acquisitions and get positive updates on all three soon.

The debt will definitely be restructured at much better rates. I expect that is what they are doing at the moment. It would be good to get an update on this thoguh.

But CLON is now in a completely different area to where it was 6 years ago. Back then it was an oil company that was looking to drill wells and now it is basically a mining-tech company that is wanting to exploit a new technology to develop its own lithium brines and those of others. By accident or design the company has found itself at the centre the hottest space (DLE technology) in the hottest resource (lithium) in the world right now. The JV tech has the opportunity to make a break-through and become a staple used in every lithium brine in south America, which is a multi-billon dollar industry. This is completely different to drilling a well and hoping to strike oil.

Those who are too concerned with the day to day price and post things about pumping and dumping or the share price dropping dramatically are clearly traders. It’s a totally fair strategy, we all want to make money from our investments, but they are simply trying to manipulate sentiment and price for their benefit. Those who are actually investing in the company are holding for the relatively long term at least until the end of this year. We know that there is big news that will come from the analysis of the brines and the completion of the pilot plant and this is what will move the price significantly, not day to day ups and downs.

Agreed Singhie. The more the debt is reduced then the more money Angus will retain. The important point is that the revenue is coming in every day to allow this debt to be reduced.

As I keep saying here the really important thing about CLON at the moment is the volume of shares that are traded in the company. This shows interest in the stock from investors and it makes it liquid, delivering demand on both the buy side and the sell side. As with all liquid small cap stocks it will deliver its fair share of traders who want to make money by buying in and out relatively quickly and this will have a short-term affect on the share price. There will also be those who have bought in at previous placings who want to derisk some of the investment when the price goes up. This is also normal. Anyone expecting that the price goes up every day and panics when it goes down is deluded. There is always going to be an ebb and flow to a liquid small cap stock. But considering how many shares are traded daily on now news, imagine what is going to happen when news is released.

Volumes are low for Clontarf again today, but even on a low day for us they are higher than most other small cap oil and mining stocks. Like I said last week, the technology behind the JV with ChemX is what is driving the steady rise in the share price and it is exciting to see. The benefits of the technology are massive because it means that CLON are no longer just reliant on the success of their own assets but can make revenue from the success of other companies assets too. Remember only last week there were a load of posters urging us all to move over to RRR after their 60% rise on news. Look what has happened there since. I know where I’d rather be.

Nice spot Ocelot, I had not noticed that. Unlike others I am quite keen on the geothermal idea so that is good news as far as I am concerned.

Yes, I agree. Direct lithium extraction from brines is definitely going to be the next big thing and produce the resource in a much more efficient and environmentally friendly way. It is interesting to consider how this could synch with Angus' geothermal plans if they are still intending to go ahead with them under Richard Herbert. as it would be perfectly possible to get the hot water up for energy while at the same time filtering out the valuable minerals from the salts as you do this for additional revenue. It also has the additional benefit that the high temperature salts are the most damaging to the equipment in geothermal developments so filtering them out would both create revenue and prolong equipment life. It's an interesting idea, but it all depends if Angus are still interested in geothermal.