Member Info for Florida

Wraith - just what we need on here, more of you guys very welcome. Looking forward you all coming over, getting some of your money back.

GosiaS - On this point I must concede, expenses are too high. However, if the returns are substantial enough and in all indications this is so, we should confidently enable a higher insurance rate. The first obvious step is Tunisia, a massive boost to the coffers.

Thank you for attempting to clarify your position. Unfortunately, I haven't got a clue what you are talking about. They have already multiplied the price without "decent dividends" and that is with only a small portion of prospective events having taken place. Game changing events all in the pipeline, any one of which could be a company changing event, Happy days.

GosiaS - I think you are on the wrong board. This company has already multiplied three times it's value in the last three months so you are looking a bit silly at the moment. Plenty of incentive when this was 035p to buy and it's going to be quite a number of years before anyone receives a dividend from this little minnow. I think you should consider investing more into Gamestop, it seems it's going to need some help pretty soon. However, if you are really interested in this company you should consider this. Where or when have you ever come across an oil exploration company that has bought a successfully drilled oil well from a company who ran out of money before it was finished. You know how it goes, never buy into an oil company before it drills, only buy when it misses. Well Zenith have the best of both worlds here, they not only had the first well drilled for them, they plan to drill four additional appraisal wells on the same field. That's a potential 25,000 BOE per day, and that's only part of it. Certainly worth considering don't you think.

CITM - Market Gunslinger is usually quite accurate so would suggest he was drawn into the debate that was going on at the time as to how much we were actually getting from the producing wells and erred on the safe side. I think we should go on the most recent figures presented to us by AC himself on the 8th January and again on the more recent Financial Fox interview. I think my posts from last Tuesday and Thursday are not that far off. Pease see below.

Tuesday
"Both the Tunisian 22.5% respective portions (45%) are already paid. The final payment is automatically taken from the accrued BOE per day which was covered long ago. Just awaiting government approval."

Thursday
"Taking into account our present capitalisation standing at £12m, the Tunisian pay day value of $5.1m - £3.7m, less the cost of purchase $500,000 (22.5%) plus $300,000 (22.5%) fully paid totalling £586,460.

This equates to an additional 26% to the overall capitalisation if Tunisian government approval was received today only. This does not take into account the on going receivables to the tune of $6.1m - £4.5m per year and every year thereafter @ $56 per barrel WTI.

This in my view should increase company value based upon present capitalisation of £12m and 5 times additional yearly income to somewhere between £22.5m - £34.5m. Worst case share price should be 2.1p. DYOR GL"

Please note these figures were posted before todays received IPU announcement.

CITM - Market Gunslinger is usually quite accurate so would suggest he was drawn into the debate that was going on at the time as to how much we were actually getting from the producing wells and err on the safe side. I think we should go on the most recent figures presented to us by AC himself on the 8th January and again on the more recent Financial Fox interview. I don't think my posts from last Tuesday and Thursday are not that far off. Pease see below.

Tuesday
"Both the Tunisian 22.5% respective portions (45%) are already paid. The final payment is automatically taken from the accrued BOE per day which was covered long ago. Just awaiting government approval."

Thursday
"Taking into account our present capitalisation standing at £12m, the Tunisian pay day value of $5.1m - £3.7m, less the cost of purchase $500,000 (22.5%) plus $300,000 (22.5%) fully paid totalling £586,460.

This equates to an additional 26% to the overall capitalisation if Tunisian government approval was received today only. This does not take into account the on going receivables to the tune of $6.1m - £4.5m per year and every year thereafter @ $56 per barrel WTI.

This in my view should increase company value based upon present capitalisation of £12m and 5 times additional yearly income to somewhere between £22.5m - £34.5m. Worst case share price should be 2.1p. DYOR GL"

Please note these figures were posted before todays received IPU announcement.

CITM - I may have made a mistake but I thought I heard AC say on the conference call of the 8th January that we are owed $4.8m from backdated oil revenues in Tunisia. A month on we can now add a further $500,000. Can you please let me know how you came a figure of $2m so I can adjust my figures.

Call me Mr Super Ramper if you like but I'm going to stick to the bosses target of 60m. Based on present MC of 14M Should make us around 5.2p. Expecting this a lot sooner than Xmas.

That's only relevant if your profit point is 10p Andy. You should first send Tom Winnifrith a letter asking him why he stole your money.

TYB - you are forgetting one very important problem for Zenith "volume". in order to reach and fulfil our true potential in terms of price, we need more investors. More to the point we need big players and BPC have them in abundance. More so again they all have just lost a small fortune on Perseverance crashing, so would be in a prime position to switch over to Zenith.

Wilibobs - glad to see the shift from BPC to Zenith was a good move for you. I'm sure many of your compatriots would easily get their money back from the recent disaster if invested in Zen.

Docit - In my opinion no deal in the Congo can move forward or be concluded until Zenith Congo have a full and complete operator licence.

I do not believe any significant amounts are involved in the the PSC agreement due to the fact that AC expects the full amount of the $5.7m to be paid to AAOGC in full within 6 months. I believe the PSC agreement would be mostly on the same basis as AAOGC.

Great news and plenty more to come. As I have said before the next step is the Production Sharing Contract to be ratified by the Congolese Government. The bulk of which in my view has already been put forward in principle but merely needs tweaking before ratification. It is at that point we can mobilise the rig. DYOR GL

I don't know for sure on this point but I would assume that the application of a "new" operator licence in Tunisia would pass through procedures that require it to be written into law. Anything to do with energy usually requires a government stamp. Obviously a lengthier process.

Both the Tunisian 22.5% respective portions (45%) are already paid. The final payment is automatically taken from the accrued BOE per day which was covered long ago. Just awaiting government approval.

Nothing to dislike here Scotchpie, I was also impressed with the recent interview, more so with the declaration of intent to achieve 12,000 to 18,000 barrels a day within 18 months. It was also interesting to see that he intends to achieve this with new acquisitions. if we add the potential of multiple wells on Tilapia that number could be stratospheric.

Nothing to dislike here Scotchpie, I was also impressed with the recent interview, more so with the declaration of intent to achieve 12,000 to 18,000 barrels a day within 18 months. It was also interesting to see that he intends to achieve this with new acquisitions. If we add the potential of multiple wells on Tilapia that number could be stratospheric.

Hellooooooooo is anybody thereeeeeeeee. OMG, I thought I had died and gone to heaven. No one's said anything for 18 hours, it must be some kind of record.

To follow on from my last post I should emphasize the next and most important stage we should await is the ratification of the Zenith Congo licence into law. When this is complete the 25 year licence is formerly issued and the market will recognise our ownership of this licence. I am expecting the price to increase to somewhere between 3 to 4p. DYOR GL

Taking into account our present capitalisation standing at £12m, the Tunisian pay day value of $5.1m - £3.7m, less the cost of purchase $500,000 (22.5%) plus $300,000 (22.5%) fully paid totalling £586,460.

This equates to an additional 26% to the overall capitalisation if Tunisian government approval was received today only. This does not take into account the on going receivables to the tune of $6.1m - £4.5m per year and every year thereafter @ $56 per barrel WTI.

This in my view should increase company value based upon present capitalisation of £12m and 5 times additional yearly income to somewhere between £22.5m - £34.5m. Worst case share price should be 2.1p. DYOR GL

My thoughts exactly.