Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Try this one.
https://twitter.com/TomWinnifrith/status/1464211264624893959
https://www.*************.com/views/59310/winnileaks-special-adm-energy-and-the-175-million-legal-threat-it-neglected-to-mention
It's looking even better for Zenith.
I think you have hit the nail on the head FV, a great find. It seams ADM got together the two other parties in March 2021 to make it appear that all three entities were capable of completing the task on the Barracuda field, both technically and financially. Unfortunately, Noble Hill saw it differently and never agreed to any of it, least of all signing a contract. AGEOS, FV, I'm sold, back to 75% for Zenith to pull it off.
To slightly swing this back the other way with another important point I forgot to mention was this ''the NHNL Board of Directors declined their PROPOSED Agreement''. This is important because this implies that no contracts were agreed and no agreement contract was signed. Completely conflicting with the actions of KONH/ADM Energy. As I have said in my last post, it all hangs on whether a contract was signed in April and what was in it. As there was no mention of the Noble Hill Disclaimer in the recent ADM RNS, we must assume that this is legitimate. However, it does reek of backtracking to cover Noble Hills a**. It's just very hard to believe that ADM Energy would promote the fact of ownership with nothing signed, it just does not make sense.
We will know sure enough AGEOS in five days time. On the face of it, it does seem to be in Zeniths favour. However, although convinced of AC's enthusiasm of the strength and potential of NW OML 141, I have a nagging thorn that's been prodding me for a few days. Quite simply, K.O.N.H UK Ltd was set up by the directors of ADM Energy and somewhere along the line back in April 2021 a deal was struck between Noble Hill and KONH. KONH walked away assuming the deal was signed done and dusted then promoted their business up to the end of August on that basis. That assumption is what is giving me sleepless nights. It implies that a contract was signed between both parties and if the contract was signed, it is binding. Curiously, Noble Hill seems to have taken it upon themselves to null and void the contract as if they were judge and jury in a court of law, which is certainly not proper or legally correct. Which beggars the question, was the contract signed by both parties in April and what was in the contract that gave Noble Hill the authority to void the contract. No one can say for sure unless someone got their hands on a copy of the contract (you know what I mean AGEOS, nod nod wink wink). On this basis ADM Energy may have reason to contest. I really hope AC does his homework here, certainly not good for Zenith to get stifled by a legal battle between two other companies. I was 75% in favour of a positive outcome for Zenith, now I think 50/50.
''On August 17, 2021 Noble Hill-Network Limited (NHNL) through their outside Legal Counsel notified K.O.N.H.
U.K. Limited, its affiliates and owners that the NHNL Board of Directors declined their proposed Agreement
dated April 28, 2021 due to lack of funding and misrepresentations. Further to this the legal Counsel
notified K.O.N.H. to Cease and Desist all statements of Ownership in NHNL or participation in the NW OML 141
RSC.''
Kingoftheworld - The idea behind an early completion of Rob-1 was to impress the Ministry into giving approval based upon our technical ability. A lot of workovers, side tracks and wells drilled in the year ending Dec 2022 will confirm our technical ability once and for all.
LSE Interview
Tilapia very firmly still on target, additional acquisition in Tunisia and the development in Nigeria, as he describes it. One more week to wait till the end of the exclusivity period and we should have an announcement on Nigeria.
King of the world - the two points you raised are certainly valid points. However, point one should be seen in the context of AC's business acumen. Is he stupid enough to purchase a concession, or part thereof, knowing full well that an investment into workovers, side tracks and new wells would only have a short lifespan.
Point two, has already been answered to some degree. We acquired Ezzauia, Robanna and El Bibane from Candex in the same manor as we did from CNPC. That could have, as you say, antagonised the Ministry causing a delayed approval. However, It is also proper to acknowledge that no workover operation could have taken place on Rob-1 if Ministerial approval was required. We would be sitting here now and for the foreseeable future, waiting for something to happen with no additional barrels under our belt and no way of progressing our Tunisian assets. Good business requires sometimes, that we way up the pro's and con's then take a few risks. What's important is that everything is legal
Absolutely fantastic. 30,000 barrels in storage and an increased prospect of KUFPEC doing the same deal. No need for ministerial approval, everything goes straight to Zenith. Great to see a master craftsman at work.
The game is certainly afoot with regards Nigeria. Much more being said about Zenith on the ADM thread. Some even considering jumping onboard with us. A leading factor from our point of view is that we have heard nothing about the proposed infill well commencement at Rob-3. Expected to immediately follow on from Rob-1, with a price tag of $1.5m. Just a thought, but could this be purposely held back in order to pay for OML 141.
Sorry to disagree chaps but Congo is not the deal maker. SLK is the deal maker because Congo will take a while to produce, where as SLK is instantaneous $12m in our pockets with $7.5m every year. That's without workovers and new wells.