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Very good
notice mls678, that the company attracts people with skills and experience now, not just people with/for their connections.
Mr. Ursin-Holm may be a useful member of the advisory board. Lots of experience from Geo-Science.
Bio
Geophysicist, Univeristy of Oslo. Economist, BI – Norwegian Business School
40+ years of international experience in E&P and Oil Services
Chairman & CEO of Global Geo Services AS (GGS); 2010-current
Founder, Chairman of Irbis Energy Ltd; 2016-current.
Chairman of Boudicca E&P, UK ; 2016- current
Founder, Chairman & CEO of Vision of Energy AS; 2000-current
Board Member and CTO of Araca Energy ASA (2014-2015), Russia E&P
Chairman Rosneftegaz Geo (RNGG); ( 2007-2010)
Founder, President & CEO for Vega Resources AS (Russia E&P);(2007-2010)
VP Africa and Middle East for Fugro (2001-2007)
EVP Aker Geo, EVP (1998-2001)
President Petroleum Geo Services (PGS) Russia & CIS (1992-1998)
Saga Petroleum E&P; Data Acquisition Manager , Field Development (1976-1992)
I won’t be surprised if both the Saouaf and the Bir Ben Tartar Concessions comes drifting, as AC now pinpointed the focus on Tunisia.
Then there is the last 22,5% of SLK and extension of the Ezzaouia Concession.
Pretty sure that the Rigs also are heading for Tunisia.
The chat AC had with Malcolm Graham-Wood was very interesting and worth listening to, a second time.
https://www.youtube.com/watch?v=N5cTYcr6lj4&t=816s
Did anyone read the RNS?
ROB-3 is being relocated and deeper, targeting 3 reservoirs.
Increased production, but also increased cost not by issuing more shares. If oil are skyrocketing, who wants to be outside this?
Current Valuation based on analysis from Allenby Capital. The big prices in the pipline is not included:
Based on a sum of the parts calculation our valuation for Zenith is £43.3 m or
3.1p/share (NOK 0.38). For the hydrocarbons assets we have applied a valuation quotient
of US$3/boe of 2P which reflects a substantial discount to the established Africa plays such
as Africa Oil which sell on EVs of US$5-7/boe. The power plant has been valued on the basis
of the purchase price plus a 25% uplift for current elevated profitability.
https://www.allenbycapital.com/our-research/?fwp_research_client=2618
Ezzaouia Concession
"having decided to perform sidetracks in two non-producing wells"
- may indicate that an extension on that is just around the corner
SLK last 22,5% not mentioned, but could as well also be around the corner now
Expecting a meeting in CHC now in January and it could be positive for both
"Zenith is at advanced stage in reviewing several opportunities to enrich our portfolio in Tunisia and Italy, as well as in the Congo"
Could mean that something is imminent.
There has been radio silence from ZEN for some time now, and I guess AC has been up to something.
I wonder if the initial plans has been derailed also? A decent amount of preparations and ground works must have been done so far.
"Expectation of signing a drilling contract in January 2022 to begin operations during the first quarter of 2022."
I am pretty sure there will be a meeting in HYDROCARBONS ADVISORY COMMITTEE (CHC) in Tunisia now in January,- and I am extremely excited to see what that meeting might bring. Last meeting was back in June, and it may seem that they now have something functional there again.
@ZaphodBeeblebrox
Here you can find the entire post by AGEOS on Tunisia, Bir Ben Tartar Field
https://www.lse.co.uk/ShareChat.asp?ShareTicker=ZEN&share=Zenith-Energy&thread=8680B922-81AD-413D-A8CC-B4875B4BC69A
MGS mentioned this in December:
"The Bir Ben Tartar (BBT) Concession where ATOG are the operator and which currently produces at around 500 bopd average (subject to a PSC with ETAP) would be the obvious target for some of this Winance money. The asset has consistently produced over 500bopd but ATOG were always planning to complete a workover to increase production there by 50% as well as then following a infill drilling programme aimed at quadrupling production there. So in total if all had gone well the BBT concession could potentially be producing between 2,000-3,000 bopd."
Could that happend?
35 mill shares traded
Are we in for a 'placing' to fund some new assets?
Let's see what happens at the GM, what Align will do -and the cash situation at ADME.
Besides, this does not block potential development in Congo and Tunisian (+?)
We've been hoping for a long time TYB :-)
I wonder if @londonfishb5, who seems to be connected on that continent, may have something to add to the subject?
(I read in pieces of an article from the very little trustworthy website AI that the director of SNPC had been stripped of some responsibility due to reluctance to cooperate with outside companies,- but that could just be fabricated like most of what AI publish)
Thanks londonfishb5 & AGEOS
Good to know that we have the knowledge here.
The RSC gives nada participation in any oil discovered as a PSC would have, so only the return of cost + a premium in installments might be a high price to pay at this stage in the African journey.
According to the legal framework in Nigeria, the primary term on a RSC is for a period of 2 or 3 years renewable at NNPC’s option for a further 2 years. But a PSC, the contractor is appointed and given exclusive rights to carry out the exploration and production operations in the contract area for a period of 30 years.
The option agreement do not indicate any participation in any discoveries or options to get any??
@Ageos
What do you make of this?
https://www.mondaq.com/Nigeria/CorporateCommercial-Law/10726/Legal-Framework-Of-The-Nigerian-Petroleum-Industry
Cute image of AC playing cards with the Minister of Industry, Mines and Energy in Tunisia.
Who won?
https://twitter.com/CattaneoGenoa/status/1480536585212989447
The Injunction looks more like a JunkRide to me,- not a shred of evidence that the mailbox-company K.O.N.H. (UK) LIMITED owns anything, but just that. (https://find-and-update.company-information.service.gov.uk/company/13213236)
And the ride to suspension seems to be jockeyed by the management of ADM, cheered on by the self-appointed Sheriff of AIM :-D
But in the end,- time will tell. Let's hope for a week where some of AC's hard labor can return some well earned gain on the stock.