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Yes indeed Rimsha, thanks Upside.

Sorry again, it seems it's been replaced, ignore the last post.

Sorry to be a bore but I just had a post deleted and I'm trying to get to the bottom of why this was removed. So I'll post in parts in order to recognise the critical component.

"I have no intention to deliberately antagonise or be derogatory towards anyone. Inflaming the conversation can sometimes be the only way underlying negatives can be brought to light, discussed and extinguished. investors can then see the firm foundation the company stands on. I am in all sincerity convinced we are dealing with a company that is methodically stepping stage by stage through and into a strategy for success. We must also acknowledge that it is one thing to have a concrete strategy but to implement a strategy within the realm of a world pandemic and to cope with the notorious unpredictability of the institutions they deal with must be to their credit.

I have no intention to deliberately antagonise or be derogatory towards anyone. Inflaming the conversation can sometimes be the only way underlying negatives can be brought to light, discussed and extinguished. investors can then see the firm foundation the company stands on. I am in all sincerity convinced we are dealing with a company that is methodically stepping stage by stage through and into a strategy for success. We must also acknowledge that it is one thing to have a concrete strategy but to implement a strategy within the realm of a world pandemic and to cope with the notorious unpredictability of the institutions they deal with must be to their credit. After the award of the winning bid in December and the passing of the IPU I really did naively think that the Congo Government was eager to put this to bed. Teresa Goma's letter was a total shock but was in fact something that should have been expected from an African Country. So to cut this short I'll just say keep the hypotheticals coming and I'll do my very best to make sure everyone sees the true light.

Fair play Kelsbells, all well in love and war.

You see, this is so much more fun don't you think. Sorry, I'm still in my altar ego.

Kelsbells - I would have thought you would have learnt something from my posts over the last few months. It's always best to read carefully what someone has written before interpreting what you would like him or her to say. This is when I turn into my alter ego the one and only "Smug Bar Stew". I can't believed so many of you make the same mistake by not reading what is written. Firstly, I was conversing with NiceToMichu in a generalised manner and what was said was in a generalised context. No reference to Zenith in particular and no reference to any other company in particular. If you are referring to the term I used "always" it is referred to within the realms of a company's generalised view of a forward strategy and investing in general. No one would continue to hold if the CEO suddenly decided to shoot himself in the head for instance. To think I was implying that, puts your judgment into a very bad light indeed. Secondly, having patience does not include stupidity, you should ask Warren Buffet if it's a good idea to be patient, he is famous for "The stock market is a device to transfer money from the impatient to the patient". So you see I'm in good company.

Ezhik - so it seems the new strategy is to get the 25 year licence then sell it, certainly an interesting idea. As for the one man band that both you and Kelsbells referred to, I would draw your attention to the link below. The man attending the IPU Committee meeting sitting at the table to the left of AC is no other than Luca Benedetto, our current CFO on the Zenith board of directors.

https://twitter.com/zenithenergyltd/status/1351820243845443585/photo/1

That's more like it, a bit of a conversation going. It's good that people still see the potential here and we all know how much potential is ready and waiting to be tapped into. Even Ezhik hasn't lost the plot completely. Obviously still tied into the dream of seven Tilapia wells pumping 5000 Barrels per day each, makes the hair on the back of your neck stand up doesn't it. That's more than half a billion dollars every year, what will the price be then. Even Ezhik has to agree, the 25 year licence brings us three quarters of the way to fulfilling that dream and every day that goes by is one step closer to that goal.

NicetoMichu - fair point. Time has always been the investors asset and the investors enemy. On the one hand if you have patience and can wait no matter how long it takes you will always reap the reward. On the other hand, time is the market makers means by which to bash the price and those without patience help this to happen. When I first bought in I knew there would be hurdles to overcome but I also knew this man would be relentless in his pursuit of the Tilapia licence. We are seeing this right now in every RNS and in every word that's spoken. As Ezhik said, this man will die before giving up this fight and we all should be confident, as he is, that Tilapia will come through.

The next news will be a toss up between Congo Government inauguration and announcement of new cabinet, Nigerian Marginal Field and Fleet Oil & Gas joint venture. He could actually be in Tunisia at the moment to sign the deal with Fleet Oil & Gas for a Tunisian joint venture concession. Highly speculative and very much a guessing game.

I'm trying to stimulate a bit of interest on here, at least you are making the effort to post FV. This has to be the thread of the dead, very few posters with any credible input. I think I liked it best when the de-rampers were on here playing games. At least I had someone to argue with. The trouble is there is not much going wrong at the moment, even de-rampers are finding it hard pressed to say something negative.

Just in case any of you guys were thinking you were invested into a dud company, the expected revenue from the present worked over concessions will be $24,090,000 based on $60 per barrel. This is a year on year income and will be revenue generated without Tilapia, effectively and firmly establishing the company as a profit making enterprise. This puts us into the category of "self financing explorer". You may or may not be aware but having your own rigs and self financing is something most small to medium sized operators dream of. If we drill Tilapia in September god only knows what this share price will be.

Wraith - for sure the targeting of Tilapia 103c is definitely the long term goal, however, our short term ambition should be to acquire the 25 year licence. With only a few weeks away from the long awaited change in ministerial administration we should see a decisive move in that direction and a shift in price of anything between 2-3p.

Additional short term goals are still in place, SLK concession approval in Tunisia, marginal field bid round in Nigeria, Fleet Oil & Gas joint venture now possibly in Tunisia and must be soon because AC is expecting to have four completed by the end of the year. Much to look forward to and very soon.

MGS - The only point you missed was that the claim against SNP has increased to $5.3m and he was of the opinion that historically, French courts had a tendency to award more than that claimed, so the figure could be somewhat higher.

"Fortitude" sums him up. Good luck AC.

Of course it is extremely undervalued, unfortunately the market will not acknowledge that fact until these deals are written in stone. We may get an indication tomorrow of whether a successful Ezzouia workover is essential to getting the approval.

Very reassuring to here they have extended the SPA agreement. The indication here is they are expecting Tunisian approval within the next three months. Not sure whether that's before the completed workover of Ezzouia or after, will be cutting it fine if it's after.

Great stuff, thanks for that FV. I certainly have a few questions.

I fully understand everyone's frustration with the lack of news, from my last post you will gather that I am also eager to here something, anything in fact. However, we must reconcile ourselves to the fact that African timescales are notoriously lengthy. You only have to look at the two year wait for the ETAP/EPZ 20 year licence application in Tunisia to realise how slow things can go. The problem is we have so much to wait for it seems impossible that a week can go by without hearing anything.

I think we are all in need of an update of sorts, so to summarise -

Tilapia -
Holders of the winning bid in December and the IPU assessment passed in February. Currently awaiting 25 year licence pass by the Director General (Teresa Goma) for ratification into law. It does not seem likely that this will go forward until there is a change in the Director generals office. We must accept the fact that this may take some time.

Congo Joint Ventures -
Progress requires the award of the 25 year licence. Awaiting approval.

Candax Purchase -
Currently earning $400,000 per month less operational expenses.

KUFPEK/CNPC Concession Purchase -
Currently owed $6m, awaiting purchase approval.

Fleet Energy Joint Venture -
Opportunity in progress with regards to 2000 BOE per day joint venture.

West African Joint Venture -
Dead. Joint Venture partner decided to go it alone.

Nigerian Marginal Bid Round -
Zenith is one of the 161 finalists that have all been issued with approval letters. We can assume that a concession, or part thereof, has been awarded to Zenith. What that concession consists of is unclear. Awaiting update.

SNPC Payment -
$5.7m carried over from the purchase of AAOGC. With interest, now stands at over $6m.

SNP Rig Company Legal -
It is confirmed that we are seeking through the court $3.1m, with the option of increasing this claim in order to salvage losses incurred by AAOGC. We have no knowledge at present if any additional claim has been implemented.

African Intelligence Legal -
We were advised in January that Zenith were seeking legal advise regarding the letter supposedly sent by Teresa Goma to African Intelligence. We have not been notified that this legal position has moved forward. As such, we must assume this is dead.

Should be getting a date for the new "Investor Call" soon.

Fakevenues - covered this a while back, all very much old news.