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I must point out, everything I post is in my honest opinion only. Please DYOR GL.

I must point out, everything I post is in my honest opinion only. Please DYOR GL.

Another point I forgot to mention -

AC confirmed the Tunisian fields have not been worked over with new enhancement techniques, or words to that effect. Which is clear our workover rig could be used on both Tunisia and Congo Joint Venture.

It seems the FTSE 100 is still climbing, the WTI crude has just hit $52 and Brent $55. I'm finding it very difficult to attach any negatives to our little company, or should I say not so little company anymore. This is certainly a time to buy.

He did also mention he expected a BCRA credit rating upgrade at some point. I must also add that the capitalisation target was not clear on before or after drilling.

Some very interesting points made by AC in his the interview this morning. Most importantly "No placings" at least for the immediate future. I don't think he's written them off completely, maybe later in the year determined upon present project approvals or further acquisitions. More so, the emphasis was on avoiding placings altogether.

I wasn't quite sure if I heard this right but I thought he said he's expecting $4.8m from the Tunisian assets.

The rigs journey from the holding port in "Iran" will take approximately three weeks, but cannot leave until we receive the IPU and PSC (end of January). It will also take some time to get through Congo port, he referred to six days but I'm not sure exactly what this applied to.

Their energy generation setup in Italy is produced from very low grade Gas, what is classified as unusable gas in fact, which makes them a very low cost and green producer of energy.

One more important point, he has in mind a target capitalisation value of £50m - £60m.

As soon as the IPU and PSC is received we will get a new BCRA Credit Rating and hopefully a new broker rating.

Rimsha - there is what can only be described as an oversight, missed by all it seems, regarding the the legal claim for AAOG's $3.1m in the French courts. It seems we are considering increasing the claim to accommodate losses incurred during and before the the Tilapia drilling. We know AAOG's expenditure amounted to some $20m, so anything within that figure and over £3.1m would and could be an enormous bonus.

Updates expected -

Imminent: Revised assessment of the Tilapia ll BOE for the Canadian authorities

Imminent: Tunisia approval award Sidi-el-Kulani KUFPEC chance of success 90%

Imminent: Tunisia approval award Sidi-el-Kulani CNPC chance of success 90%

Imminent: Nigeria Marginal Fields Bid Round chance of success 90%

End of January: IPU and PSC approvals chance of success 99.9%

IMHO DYOR GL

Pawnsacrifice - although the Nigeria marginal field bid Round is important, we should not forget the effect the recent Tilapia licence would have had in relation to the Congo operator "Joint Venture". Holding the licence for Tilapia ll must influence the ultimate decision to issue the Joint Venture licence. Zenith would be the majority shareholder of an already drilled field that was pumping 300 BOE par day in 2019. The intention was to acquire the licence then utilise the workover rig to enhance oil recovery -

RNS 7th July 2020
"Zenith is confident that profitable oil production operations can be achieved following the reactivation of the Potential Acquisition and the performance of targeted, low-intensity workover activities."

Very close to six months, this news can come at any time.

I do hope most of you by now would have submitted questions to the CEO to be answered in the forthcoming interview/presentation. This is an opportunity to voice our opinions with questions regarding the strategy moving forward. It is vital that open communication with the CEO continues unhindered and we are all clear on timescales etc.

Lutefish - sorry, they stated 31st December 2020.

First, although it is reassuring to think that posts that have no informative value are being scrutinised and removed on the odd occasion, it is tremendously worrying when I have a notification at the top of my page showing 10 new posts and only three are shown. Great to have a level playing field, but extremely dangerous if the board is discriminatory. I think we all should be aware of this.

SomersetHippy - as much as would like to big myself up and think I was of help to bring you aboard, it was probably more informed LT holding posters like MG. I also bought in at a very low price when everyone was screaming at me "how can you buy into a stock that has a spread of 35%". To me a 35% spread was meaningless in terms of the vision I had as to where the company was heading. I tried to evaluate the price range AAOG had experienced, estimated the value of Zenith before the Tilapia deal, took away potential value Azerbaijan may have added to Zenith before it became a liability. Took away the devaluation from two placings and was left with what i saw as a brand new company with the potential to fulfil what was expected from AAOG.

The three main chances of success, Tunisia, Nigeria and Congo were all imv opportunities of high proportion. I could see that any one of these could increase the the share price to 1.5p at any time and was happy to hold on that basis. Things changed slightly when I found out two other companies had entered bids for Tilapia over and above the already seven companies Zenith were up against. More to the point these were pretty big companies and had important connections with the Nigerian President for instance. This undoubtedly changed the percentage chances of success for receiving the Tilapia licence and changed my perception of how far this could go. I re-evaluated on the basis of Tilapia reduced from 75% chance to 35% chance of success and the other two at 80 to 90%. I thought Tilapia was the last in line for a result, so I was happy to hold.

We now have Tilapia and as much as I would like to stay with my feet on the ground, I cannot see this staying too long below 5p. There may well be detractors from this view and I know full well where this brings our capitalisation, but I cannot avoid the fact that this is not like drilling a wildcat. This is a an already drilled and successful well that is now pumping 30 barrels a day, and we are not looking at just one well, we are looking at 3, 4 or 5 appraisal wells over the next 18 months. Can you imagine 5 wells all pumping 5000 BOE per day, I'll let you work it out for yourselves. I am in my view being extremely conservative at 5p. With all the other projects up and running and just one of the appraisal wells completed, my estimation this time next year would be between 15 and 25p. GL DYOR HNY

Thanks for clearing that up Indebt1.

TYB - risky time to travel at the moment, stay safe and HNY.

It's always best to come clean in life. Thanks for showing your true intentions Ben, I think your going to have a struggle getting your 1p buy in to be honest.

I must admit I had my reservations with regard to the recovery of the $5.7m, but since acquiring the Tilapia licence and SNPC confirming they actually owe the money, I see no reason why this is not recovered in full. DYOR

Not forgetting it was turned down by AC at 2.5p.

Of course we must also not forget the Arab Consortium is still in the game. AC suggested on the 10th August that he would renegotiate the $2m investment deal at some time in the future.So it seems that is still available.

Mrhopeful1 - I'm finding it difficult to understand how you can raise money before you have a plan or strategy to go forward. We have after all only just been made aware that the licence is ours. A number of events have to take place before any money is raised. Firstly they have to obtain the IPU, then the partnership deal with SNPC has to be ratified. Then we have to know whether or not we have the Nigerian deal/licence and what payments are required so that any money raised can be directed towards the optimum benefit. The final payment just received form SOCAR should tied them over for a few weeks at least. So you are a little premature with your suggestion of a fundraising in the near future imho.

Well Kelsbels, I must thank you for your recommendation to buy. I totally agree, based upon last years price we are at a seriously low price today. However, we are climbing, and climbing rapidly. Rome wasn't built in a day and it will take a bit of time but 2.5p isn't that far away, I'm sure you will agree.

Must congratulate AC again, what a fantastic job, only he could have pulled this off. I liked his tweet on the 23rd Jan giving us an indication of his thoughts on pending good news to come. He does sound confident, after all he was totally confident on the 20th August when stated clearly that shareholders would be rewarded, and then again in his more recent presentation.

It is a good time to reflect back on the RNS of the 10th Nov stating he had pulled away from the Arab Consortium with the intended investment of $2m at 2.5p. He was slammed by TW and slated as a liar. TW said that no one in there right mind would pull from such a deal, well he did and now we know why. He obviously thought he was selling his company off too cheap at 2.5p and had visions of the price being much higher, and stated at the end of the RNS that he would at some point renegotiate with the Arab Consortium, at I assume, to be a higher price. Complete vindication of his instinctive tenacity and judgement.

So there we have it, yet another reason why Kelsbells is right, we should be at 2.5p and beyond very soon.

GL DYOR