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The Nigerian exclusivity deal is really quite something. Drilling before Xmas on an already proven field with a potential 10,000 BOE per day is a definite game changer. However, not quite over the line just yet. I'm sure a good bit of time is required to carry out extensive due diligence before any firm contracts are signed, could be another six weeks or so, definitely worth the wait.

It seems the annual report is showing that the approval has already been given for the 25 year licence as FV pointed out. Curious as to why this wasn't announced as a separate RNS. I can only assume they were trying to protect their position from any disruption to what can be delicate SPA negotiations. It was also stated that the timing of the licence award for ratification through Parliament could not be guaranteed, so we just have to sit and wait for that to happen.

One other quite significant point that seems to be overlooked is the EBITDA positive $2m profit after tax. This is a milestone that should not be overlooked and the analysts brokerages and institutional investors will not view this unkindly I'm sure. We should also note that this annual report is only up to the 31st March, and much has been done since then. So the next interim or half year results will be mildly spectacular in that they will include much, but not the Nigerian deal, if it comes off. Good find MG, would be quite controversial if they tried to sell the same asset to two different companies but that is very unlikely, and a discrepancy of this nature would become apparent within Zeniths due diligence.

Todays events have clearly shown that our CEO not only has his head in the right place but is relentless in his pursuit of making Zenith a successfully acclaimed international oil production company. Good luck AC and GL to all shareholders. DYOR

So few trades moving the price. They can't have many shares to play with. Won't take much to set this alight.

Conference call coming up in the next two weeks and BCRA credit rerate soon overdue.

It is worth noting our present capitalisation is £14m. The recent increase in production adds $12m (£9m) every year with a very low recovery cost, said to be $5 per barrel.

TYB - to reinforce your estimation of 2.5p by the end of the year. The sixty million warrants issued to institutional investors on the 7th May at an average price of 2.5p only have another 8 months to go. We must assume that back in May AC had a similar view.

We should not forget the joint venture agreement signed on the 7th July 2020 with a local company in Congo. The asset advantageously positioned in Kouilou, near Pointe-Noire, very close to the newly proposed oil refinery and not too far from tilapia was producing 300 barrels in 2019 but was suspended due to the licence expiration. Zenith, it was agreed, should be joint operator and majority partner in this deal, of which is one of the four deals potentially on the table in addition to Tilapia if we get the licence. The plan was to workover this potential asset in order to increase production. The results of our two upcoming workovers will give us a clear indication of the potential advantages and gains from workover activity.

Rushthedude - If you have such a low opinion of the CEO of Zenith why are you still invested. What is the point of being invested in a company run by a CEO that you feel has no capability to get your money back. Merely an opinion but I find it hard to understand why you are still invested.

Looking for a B+ or higher Buko. Should be with us very soon.

Clearly much more meat on the bone than that shown in the report FV. I think AC expects news on the Robbana drilling any time after the 15th August, and the updated credit rating anytime soon. More importantly now eagerly awaiting approval from the new Director General in Congo to then be passed over for ratification through Parliament, a good few weeks to go on that I expect. In my experience, the seemingly lacklustre response to yesterday's report is normal. it takes time to work it's way through to the brokerages bloggers and pundits all wishing to place their stamp on the predicted valuation. Give it two or three weeks and we could potentially entice a few institutional's to give us the once over.

That's what I call a good RNS. Allenby Capital value the company at 3.1p, very happy with that. What will the price be when Tilapia hits.

Extremely good post AGEOS. Appreciate the work gone into that info, fits in neatly with what's going on.

He must certainly have the view that either something good is about to happen or something has already happened. He cannot know for sure of a specific event to come because that would be classed as insider trading. Which can only mean the event has already happened and she may have already gone. fair point FV.

I am already convinced, but definitive proof of Teresa Goma's demise would reinforce my belief that there is nothing more to stand in the way of receiving the Tilapia licence.

You see, my spelling is terrible.

A word of advise Gosia, do not class Zenith as any other share. I have been there, done that with every other share over 20 years and believe me there has never been a Company like this. This is one to sell the house for.

gregpeck7 - I believe Gosia to be one of our Norwegian investors and may be unfamiliar with the language. I think it's is only fair to allow a few mistakes as we all welcome comments from all Norse investors regardless whether we agree or disagree with their comments. None of us are perfect on here, me included.

The big news, if true, is that Teresa Goma is gone. The only serious obstacle standing between us and ratification through Parliament then on to the Tilapia licence.

Gosia - I have no doubt you mean well for all of us but you are wrong on all three of your points. More shares produce lower value per share I agree, but not when the issue price of the new shares is higher than the present market price/value. The issue of warrants are over two years, so these warrants can be purchased at any time within that two year period, and I must emphasize, these warrants must be paid for in cash. This is money that goes directly to Zenith, no reduction in share value and no restriction of price increase. It's merely more money for Zenith when they are bought. Your third point I'll just say, there will be no dividends issued by this company for a very long time.

In my opinion this debt repayment is clearly in line with the eagerly awaited BCRA credit rerate expected soon. On the whole a very good move by AC. DYOR

If you click on the "fundamentals" above this thread you will see the market cap is now £17m.

Currently 12 deals in the pipeline with a minimum of 3,000 Barrels p/d, Nigeria alone. Four additional deals in Congo, besides Tilapia and a deal with Fleet Energy for 2,000 Barrels p/d still on the cards. Any one of these is a company maker, not to mention approval for SLK (Tunisia) or Ezzaouia expansion or El Bibane expansion or BCRA credit rating upgrade in the next few weeks. All looking good.