The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Something is holding this share back from breaking out to at least figures of over a week ago. Drilling should at this point be at monster level as described by CB. I see small buyers coming in only. Market has not yet woken up to the possible pottential . You would think some serious share buyers would now be starting to come in. I hope i am wrong but i still cannot trust this. I have a trail of AIM shares in the bottom drawer who all promised the earth and at the last minute colapsed. I'm vwry hopeful here that this would make up a large proportion of my losses. Must be some news out today. GLA
Not been on here for a while due to having the dreaded.
I am confused therefore hope that someone can enlighten me.
Why are the constantly providing news about new potential ventures, when they now have the licence renewed for Tilapia. Why have they not started re drilling and producing oil in this are which alledgedly has the prospect of producing thousands of barrels of oil. Which in turn would fund any future aquisitions and of course add enormous value to the share price. Doesn't make sense that they have not made a strong move to commence work in the Congo.
Same as AAOG.seems to be following in the same footsteps im sorry to say. Anything associated with Africa seems to be negotiating for ever and a day
Moses that was a reply to truthfactory re his previous comment
Truth factory i hear you. I am in the same situation. Lost plenty but pointless exercise in keep crying. We pays our money we takes our chance. It is our own greed that makes us buy penny shares with a view of taking very high risk for potential very high gains. Well we lost and you like myself have probably invested here with the hope that Zenith makes good where AAOG failed. Ideally the dream lives on and we se some returns for our continued efforts. We could all go invest in blue chip companies for a 5%-10% return but we don't want that, we are out and out gamblers. So lets wish Zenith every success with a view that they will be honest with us share holders.somehow i don' feel that you are ready for the knitting needles quite yet. Keep chasing that rainbow buddy but only with what you can afford to lose. Rock on Zenith and finish the job.
Florida i think maybe you under sell the potential. I was a shareholder With AAOG. If true then Tilapia could be enormous with several wells drilled. A furthe deeper exploration could also be explored. Wireline logging validates the initial results identified during drilling the targeted R1/R2/R3 and the Mengo reservoirs and confirms oil columns amounting to an aggregate of 44 metres across the identified horizons.
26 metre oil column in the Mengo identified in sandstones interbedded with claystones between 1874,8mMD and 1900,8mMD.
An aggregate 13 metres of oil columns across the new horizons identified between the R3 and the Mengo horizons in three layers of sandstones between 1473mMD and 1685,5mMD.
5 metre oil column identified in the R2 reservoir between 1282,7mMD and 1287,7mMD in line with the TLP-101V well located in fine sandstones.
Modular formation dynamics tests showed that the R2 reservoir is not depleted, confirming an onshore hydrocarbon system underlying the Tilapia licence area
· All three discoveries are of Early Cretaceous (Barremian) age
· Schlumberger wireline logging was completed in the entire 12 ¼" section of the Well and further confirmed by a petro-physical interpretation (CPI) .
The Company will now resume drilling operations at TLP-103C, targeting the deeper Djeno horizon which is known to be a prolific producer on neighbouring fields.
Wireline logging validates the initial results identified during drilling the targeted R1/R2/R3 and the Mengo reservoirs and confirms oil columns amounting to an aggregate of 44 metres across the identified horizons.
26 metre oil column in the Mengo identified in sandstones interbedded with claystones between 1874,8mMD and 1900,8mMD
An aggregate 13 metres of oil columns across the new horizons identified between the R3 and the Mengo horizons in three layers of sandstones between 1473mMD and 1685,5mMD
5 metre oil column identified in the R2 reservoir between 1282,7mMD and 1287,7mMD in line with the TLP-101V well located in fine sandstones.
Modular formation dynamics tests showed that the R2 reservoir is not depleted, confirming an onshore hydrocarbon system underlying the Tilapia licence area
All three discoveries are of Early Cretaceous (Barremian) age
Schlumberger wireline logging was completed in the entire 12 ¼" section of the Well and further confirmed by a petro-physical interpretation (CPI)
The Company will now resume drilling operations at TLP-103C, targeting the deeper Djeno horizon which is known to be a prolific producer on neighbouring fields.
I think the Djeno if discovered at lower levels not yet discovered but expected to be there, will produce 20,000 to 50,000 bpd.
MG thank you for the confirmation re rig deploylment. Your noteS about the drill errors by AAOG are cosistant to what i have been informed. Seems that we both have a question mark around the licence renewal. Hoping that this will reach an agreement very soon. Enormous potential if the way is made clear, especially if the lower levels are explored. Very hopeful...
The only very rich i can see, wouls be the higher management. Tilapia had issues on the last drill and needed to be closed. The idea was to drill for the 5000 bpd. However they needed to seal and go back in from 2/3 down. I would guess now that if the new licence is agreed then they would need financing for fistly securing a new rig and secondly the re drilling. Not sure if zenith can secure the 5mill where AAOG could not succeed. Plus we need to consider what the % split would be for the revenue realised from the oil extracted. Potentially if this goes Zeniths way then ultimately they would have several well at 5000bpd and if i remember, a deeper exploration well at 50,000bpd per well.
Having owned shares In AAOG for quite some time prior to the sell off to Zenith and being involved with all the shortfall. I recall that the licence renewal had been going on for at least a good 1 year prior to expiry date, without success i might add. I even met with DC who was clear and positive about the drill outcome being above and far beyond expectation. However licence renewal was not forthcoming and if it wre easily possible then i would assume they would of renewed it well beyond the sell off as it would have been financially advantagous to AAOG. May i add that i did buy into Zenith with the hope that Tilapia would reach fruition. However to date it seems to be promises that are going the same way as the Predecessor. Hoping i am wrong. Only time will tell.
Market... I hope you are correct as i stand to lose another load of wonga if not. Just wondered why they have not made inroads to producing at an aledged world class field like Tilapia. Oil discoverd with further fields to explore. I'm also mindful of how risky Africa is. As you wouls say too many eggs.
I can't help feeling this is like AAOG all over again. Promises promises but empty. We are still waiting for production to commence. I guess we can give them a little time because of Covid. Then again why commit to more aquisitions prior to any production from the Congo. They need to be careful in over exposure in a corrupt country. Just a thought.
I thought the very same Irish. Certainly reminds me of a previous AAOG RNS. Copy and paste it seems
Live or die, not a penny more from me. Hardly any money left after their lavish lives anyway. Go under i say and be done. Take your blackmail, shove it where the sun don't shineand go find yourselves jobs to earn your living.