Member Info for Florida

No patience.

Just thought it was worth mentioning that he's just about to sell 114,000 barrels of oil with a total accumulation of 179,000 barrels over the last 12 months, all by the seat of his pants.

Totally agree Paul, this is gradually moving into a financially acceptable area of investment by more institutional investors. The next few months are going to be game changing in my view.

I've had the pleasure of reading nothing but informative posting over the last few days and boy, the silence is golden. In fact, with some posters filtered, I noticed something interesting. You get a message "This message has been filtered, please adjust your filters to view" that shows in place of the posted detail. The filtered warning shows up in blocks of arguments that coincide with favourable RNS's or any progressive good news. tends to make one think that these concocted arguments might be deliberate.

I would strongly suggest that everyone filtered the protagonists and not be distracted by orchestrated diversions.

That's a first, never seen an 08:00 RNS before. Come on FV, he's expecting $10m in the next few days, he's not going to borrow another two million for nothing. He must be expecting something that's gonna be expensive..

31st March

Good point Buko. Never felt the need to filter anyone in the past, always thought everyone had a right to voice their opinion and all that. But it's really getting to a childlike state. Complete drivel every day with no significant input has brought me to the point at which the preservation of sanity has become an imperative. So for this reason I have filtered all three of the main protagonists who take it upon themselves to turn this thread into a kindergarten. It may be helpful to others if the remaining posters do the same, strength in numbers and all that. Let the children play among themselves.

If we can get a stabilising of the markets, more so the FTS 100, we should get a better understanding of where the WTI oil price should be and a more steady oil price growth. I can see oil hovering between 100 and 130 over the next year and that will do nicely for Zenith. Looking at 7p - 10p by the end of 2022 or sooner.

Accounts due, hopefully July, and will include the 114,00 barrels. That will take us well above 3p with a steady climb there on

SutekhsSocks - you obviously haven't looked at their other assets and what they are producing from those assets. This is the biggest thing since sliced bread and most on here haven't a clue what they are into.

My guess is the 31st March would be a higher price than at present Rimsha. Nothings going to stifle demand as far as I can see it. Oil is in short supply because exploration was prohibited due to Covid. Until that gap between supply and demand is diminished oil prices will continue to rise. Reluctance to buy Russian oil adds to the problem.

Would anyone like to make a call on whether the next oil lifting is priced and deal done on the 31st March 2022. If it is as I believe, and there is nothing in the RNS below that is to the contrary, we will receive $12.5m at present oil price of $109. With no retrace in sight the upward momentum could push us towards $120 or beyond . That's 75% plus of our present market cap.

RNS - 26th January 2022
''Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed international energy production and development company, is pleased to provide an update on its next planned international crude lifting of oil production from its Tunisian portfolio. The lifting is scheduled for April 2022, following the last sale of oil announced to the market on July 8, 2021.

The Company confirms that, based on current production rates from its recently enlarged portfolio, it will hold a total of approximately 114,000 barrels of crude oil in stock net to Zenith in Tunisia, as of March 31, 2022.''

Good points Calit, Rimsha, my sentiments exactly. Definitely a sigh of relief to some extent regarding the clarity of ownership, together with slight disappointment that ownership could not have been resolved then and there, Anyway, this is for sure the best outcome under the circumstances, and I agree, something to come back to when the clouds are cleared. As I have said before, plenty to look forward to without this deal and without the trouble it might bring. Good move AC.

Could be tomorrow.

Expecting RNS in the next few days.

Paul1Deano - if we look at this realistically, without exaggeration, starting with the nearest potential. Rob1 will in the near term be brought back online, that's 100 bpd. Rob3 is scheduled to start soon, expected to produce 250 bpd. Ezzauouia side track and 2 new wells expected to produce 1000 bpd. El Bibane currently producing gas condensate and oil. EBB 5 currently producing 90 bpd condensate, EBB 4 expected to brought up to commercial levels of gas production. EBB 3 when worked over is expected to produce 500 bpd. SLK including expected KUFPEC completion to produce 1000bpd plus. Then if we include concessions not yet acquired but could at any time be online, Nigeria (NHNL) was targeting 4000 bpd, Tilapia, currently producing 30 bpd, expected to produce 1000 bpd minimum with the addition of multiple wells beyond 2022.

That's 2970 bpd.

So I would say no, the estimated 3000 bpd by the end 2022 by AC does not include Tilapia or The Baracuda field.

It seems a number of defamatory posts have been removed and rightly so. I was going to report them myself for blatantly rubbishing the company for no justifiable reason. I do hope the posters are permanently removed, unfortunately I don't think we are that lucky.

Key points to recognise near term (within the next 4 months) -

NIGERIA
1st March - Court hearing ADME claim for 70% ownership of NHNL. I think AC said something like it looks promising, although can't be sure he wasn't talking about Nigeria in general. He did give the opinion that ADME's claim was aggressive and has no grounds.

1st March - Zenith/NHNL Option Agreement expiration date. AC suspects both events on the same day is no coincidence. If the case is heard on the 1st March NHNL should win. If the case is again adjourned, AC see's no problem for NHNL to extend that option Agreement. Alternatively, AC can if he wishes, close the Option Agreement at any time. A number of Nigerian opportunities available to take it's place.

CONGO
Tilapia is most definitely on the table and AC adamant that this will happen soon. AC heading to Congo next week.

TUNISIA
KUFPEC - SLK concession very much still in play. AC thinks this will be concluded soon. Workovers to increase BPD by 1000 plus by artificial lifting/pumping.

Other potential deals in negotiation.

Rob- 1 - workover for remedial work announcement to commence soon.

Rob- 3 - preparing and about to drill, announcement soon.

Ezzauia - Ezz 17, 18 and 19 side track and 2 new wells to begin in June, I think. Plans to be announced in the next few weeks.

SMP Legal Action
Favourable outcome expected, no timespan given.

ACCOUNTS
Sale fo 114,000 barrells of oil.

Audited 2021 final results due anytime after 31st March.

Share buy back scheme to be discussed by the BOD in three weeks.

Forgot to mention, KUFPEC still on the cards. Looks like definitely going through.

He agreed, no coincidence the option agreement end date and the court hearing on the same day.

Convinced that Tilapia will happen, he was expecting it sooner.

Apart from the quality of the call, all seems to be quite tickety boo.