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And there you have it. All you doomsayers should hang their heads in shame, rightly so.

RNS 17:00 today ?

Never seen so many filtered warnings flashing up. Be careful guys, you might reveal what your real intention is. Desperate measures now engaged to force the price down. Ezhik will be the next poster.

MG - I must say you have excelled with those last few posts. Clarified and put to rest any doubts regarding recovery of our $15m, of which, it does seem is as good as in our pocket. It will undoubtedly take time, however, the process for the bulk of the money owed - $9m is well and truly underway and is in my opinion coming to a final conclusion after almost a four year wait. I say this because it was only last year that we were discussing this very subject and the possibility of the recovery of AAOG's $20m outlay. The fact that AC has openly acknowledged that the figure sought has now increased, must mean the verdict is coming to it's final conclusion. It is most certainly correct MG, this has nothing to do with our present dealings with the Congo Government, SNPC or anyone else. The French courts will decide on this and it could be sooner than we might expect.

Makes perfect sense Viking. The market would surely react to news positive or negative regarding Tilapia and nothing has happened. It's been far too quite, could be AC is reluctant to make any announcement knowing how sensitive officers of the government are, recent history has surely shown.

Sold a pup Kelsbells, now you are really scraping the barrel - I thought he bought a $5.7m legally binding debt for $200,000, plus, has been pumping up oil at 30 barrels a day for the last three years, works out to $2.6m, that's $8.3m plus interest. More deals like that please.

Then again, the talk on Finansavisen is that we are still involved. 40m shares traded today in Norway and not all sells. No RNS so far, maybe means no news to tell. All to be revealed.

Sorry, correction to last post, obviously can't get Benin out of my mind.

Shouldn't we be asking ourselves, why go to the trouble of putting a video together explaining the asset value of a concession we have no intention of acquiring.

When a Prime Minister takes the trouble to meet the CEO of a company at the opening of Zeniths new office in "Yemen", you would think the prime Minister would be a very interested party.

Shouldn't we be asking ourselves, why go to the trouble of putting a video together explaining the asset value of a concession we have no intention of acquiring.

When a Prime Minister takes the trouble to meet the CEO of a company at the opening of Zeniths new office in Benin, you would think the prime Minister would be a very interested party.

Further to my points raised yesterday, I thought the best approach would be to wait for the market to react to what AGEOS has stated and alluded to in order to establish any credibility to what was said. AGEOS is right in that this, if correct, would be highly significant news that should be relayed to investors by RNS. Logic would lead us to assume that if something is wrong the market would let us know in no uncertain terms. The loss of almost 40% of our oil income at the stroke of a pen would easily slip our share price back to 0.425p rather than the present 0.825p. Thankfully, no market reaction as yet. I can only conclude that somehow the initial information provided to AGEOS was inaccurate, or the market feels the information is of no consequence.

I must admit an RNS to clarify would be helpful.

I agree Callit. I have never thought of Zenith as the licence holder or joint licence holder in any shape or form. I have always thought that ETAP was the licence holder and Maretap was an amalgamated joint venture between ETAP and Candex - i.e. Ecumed. We then bought 100% stake from Candex, which as operator plays no role as licence holder. It has never been said, anywhere that we are seeking to renew "our" licence for Ezzaouia. We were only ever seeking approval from the Ministry for the go ahead to expand.

I can't say I see any price movement as a consequence of this. I watch 70 companies of interest and all are red bar 6. This is a market sector movement and nothing more.

Looks like Benin is in the bag.

Nice find Canary. Sorry if I sound like I'm repeating some of your conclusions but i thought it best to re assert your already adequate piece.

Kelsbells - With regards to Tilapia. The Congo Ministry of Hydrocarbons gave their opinion on whether Zenith Energy was eligible to acquire a 25 year licence when on the 23rd December 2020 they received from the Ministry "Preferred Status", winning that position over 10 other candidates. So please do not lie to investors on this board to meet your own corrupt agenda.

If the "Yemen Online" article is genuinely verbatim from the minister himself, it seems to me that Zenith Netherlands will be receiving a full governmental apology from the Yemen Ministry in the next few days. It is clear the Minister for oil looked at a tweet rather than the official RNS. The RNS clearly states as follows -

"The obligations set out in the SPA of the Seller and Zenith Netherlands to consummate the sale and purchase of the shares in OMV Yemen at completion are subject to, inter alia, the approval of the authorities in Yemen, and the approval by the Federal Ministry of the Republic of Austria for Labour and Economy in respect of the transfer of shares from OMV to Zenith Netherlands ("Completion")."

Clearly defined "subject to, inter alia, the approval of the authorities in Yemen". You cannot misread that unless you are blind.

The purpose of the RNS is to inform investors that a deal has been agreed between two companies, OMV and Zenith Netherlands, and that agreement is subject to the approval of the Ministry of Oil. I cannot see what is misleading about that.

Emphasis on AC's lack of credibility is wearing thin. An investment company based in Hong Kong have just invested a $2m cash deposit, on a total investment of $10m, mostly on the back of AC's so called credibility, integrity, call it what you will. Certainly not a small amount and certainly not to be taken for granted.

Hedge - a bit unfair to be honest. Your doing a great job on this board and most really appreciate your input. However, on this one, i think you should take a step back. Kathy asked a valid question about the very reason why the price hasn't shifted to a new level. To clarify, we have 9 months for the government to approve the deal. In exactly the same way we waited for approval of the CNPC 22.5% stake in SLK (received and completed) and the KUFPEC 22.5% stake - approval not yet received. The market looks at all these deals in exactly the same way and will not allow the price to rise until we have obtained all necessary approvals, and, please do not forget, we are talking about approvals from both Yemen and the Austrian Governments. Until then we have nothing.

Fortunately, in my view, we may not have to wait so long on this one. Western country's generally take between 1 to 3 months. Yemen on the other hand may take a little longer. However, something we must first consider when evaluating the timescale for Yemen. It has now become apparent that the tweets that disclosed the details regarding the deal back in December were correct. From that, we can assume the information regarding the Prime Ministers visit to the newly opened office was also correct. I doubt this was a casual visit to celebrate the opening of just a new business office. This must have been a premeditated invitation by AC to get some idea of how long he would expect the approval process to take. Because of this I expect the 9 month period allowed for the process to complete is a guideline only and the actual time we expect to wait is nearer 3 to 6 months or sooner.

Hedge - I do think the 52,000 barrels is a part of the 116,000 because there was no announcement that the lifting had taken place and was sold. The 4 moths spanning the time between the announcement on 22nd April and now would allow for the additional 64,000 barrels to accumulate.

Bammo - these accounts do not include any of the oil sold this year 2022. 116,000 barrels in storage, plus $6.4m sold on the 22nd April - totals $17.4m @$95 per barrel. Oil accrued over the next 7 months, up to the 31st March 2023 will more than cover the running expenses of the company, leaving $17.4m gross profit. The real fun part starts on the 22nd December, when the European Union bans all member states from buying Russian oil. This will send the oil price through the roof and ships who are presently earning 3 times the standard rate for moving Russian oil, will be moving oil for fifty quid after the 22nd. If Andreas has the storage capacity to hold from selling the oil stored, he can make a small fortune over the next few months. GLA DYOR

Be careful Bear you are beginning to show your real colours. Golden rule number 43, never mention management salaries

FV - It's false and inaccurate articles like the one you highlighted FV from Charné Hollands that got us on the wrong side of the ex Director General of Energy Congo - Teresa Goma. There has been no announcement since the 24th November that states we have the 25 year licence, and clearly would be classified as important shareholder information, if for any reason that information was withheld. Unless of course she knows something we don't.

https://www.youtube.com/watch?v=c_x1oaaEe9c
10:30
24th November 2021