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I thought we were about to be handed $7.5m. Why would they need a Placing? and yes, your right Mroberts, all buys.

Rhyme or reason in Africa is beyond comprehension. As long as there are incentives to progress individual wealth, politicians will always do what's best for them and not the people. A dogmatised quagmire of corruption that has hindered the continent of Africa for decades. The only way they could ever rid themselves of this delemmoured remnant of political unwillingness is to indulge into an inter political social experiment. To have the guts to do something they all know would be, or could be, political suicide. Triple a politicians base income and ban all outside directorships. It's not going to cure the problem outright but it would lead them towards a cleaner operating environment.

It's been one of my pet theories for years but has unfortunately, always fallen on deaf ears. Until a few weeks ago, this very point was raised by a UK labour politician, believe it or not, as a counter measure to some bias indulgences carried out by some politicians from both sides of the house. Although he was not so easy to suggest a three fold wage increase, a banning of directorships were the flavour of the day as far as he was concerned. It's not going to happen in my or your life time no doubt, but if someone had the guts to step into the fire, just for a brief moment it could lead to a wave of the same in country after country throughout the world. Wouldn't that make for a better place.

If we get the licence Mis678 would be on the road to Damascus.

Canary - say it as it is. AAOG were planning to drill in excess of five wells, all with the potential of 5,000 bopd each.

AGEOS/FV - your both reading too much into this. This is just a typing error. My laptop started playing up and instead of paying a small fortune getting a new keyboard fitted I bought a mini wireless keyboard through EBAY. The trouble is the keys are too close together and the M and N, next to each other, get mixed up. I know all about the SNPC debt to Zenith and the claim from SMP was originally $3.1m. Your right it was stated Q1/2 originally, but February was mentioned later as well as the $5.3m increase. Don't ask me where and I'm certainly not going over every conversation to find it because there is no point. February is slap bang in the middle of Q1 and the claim increase was mentioned twice in the RNS of the 11th November 2020, as I have already stated. I'm sure you were both only trying to be helpful but correcting me for a typing error by ignoring the obvious mistake and at the same time reinforcing the very thing that I said is just wasting both yours and my time.

Yes, SMP correct and no, I don't have a link. The reference was in a conference call or blog interview where February was mentioned and the $3.1m was increased to $5.3m. The reference to a possible increase was mentioned twice in the RNS 11th November 2020.

That's the point Rimsha, the SP does not tell the tale. I can't remember which one it was but either Allenby Capital or Allign Research valued this company at £43m. That's without the next batch of oil sold or the result of the SNP court case, or the recent record breaking sales in Italy, or the fully audited financial results.

Quite frankly I was shocked to here you sold half of your stock, especially before 1st March. I may have had a beef with the company over it's strategy of taking us into an inevitable process of litigation, but after the recent declarations from ADME and Zenith, I have revised my initial conclusions and see this now as a new opportunity. If Noble Hill lose the case nothing changes for Zenith apart from the fact that a new player has appeared in the form of ADME. There is absolutely no reason why we can't deal with ADME and Noble Hill on a 3 way split. Alternatively, if Noble Hill wins, then so do we. The ADM/Noble Hill court case is a game changer for Zenith and would reflect generously upon the share price/valuation.

FV - I sense a tone of frustration. It seems to me that PI's in general never quite get the whole picture, and to assume that delegation of the workload is lacking can sometimes be a misinterpretation of what's really going on. You may remember back a few months someone on here was screaming, this company is nothing more than a one man band. I then produced a link to a picture of Lucca Benidito sitting next to AC at a Congo Ministry committee meeting back in February last year doing exactly what was assumed to have never happened.

We must also not forget Zenith currently carry a workforce of 59 staff in various positions, plus those appointed to the Advisory Committee. I believe beyond any shadow of doubt that what cannot be seen to be done is in fact being done, and that hold ups of any shape or form are usually due to political and legal restraints alongside logistical and financial capability. What he has already achieved under the guise of a so called "one man band" is quite remarkably. Much of this success was gained by utilising the benefits of acting swiftly when necessary and waiting patiently when financial bolstering is required. Which is exactly where I think we are now.

FV don't despair. The SNP court case due in February 2022 should be an interesting gap filler while we wait for the result of the ADM/Noble Hill court case on the 1st March and on the same day the sale of our 114,000 barrels of oil. It's not long then for the market to catch wind of the financial progress about to show in the forthcoming end of year results up to 31st March.

I'm expecting a decent payoff in excess of $5.3m from SNP so well worth the wait. The ADM/Noble Hill conflict should also present a number of opportunities to us whatever the outcome in that we seem to be the only party involved with any money to spend, so we could end up dealing with any one or both of them.

The 1st March could also bring a slightly smaller bonus in that since the stated RNS the 114,000 barrels may have increased and the price of oil may increase with it, so plenty of good stuff to come. GLA

What a great endorsement.

More importantly as AC has just pointed out, this will be seen as a saleable asset and included in the audited accounts for the financial year up to 31st March 2022.

If the oil price keeps rising we should expect another record month from Italy. Gained $10 (12.5%) so far since the last one. If the oil price stays up we should hit the EUR 3m mark for the year. I wonder what it's worth now as a single asset.

Well, that's a serious coincidence. I wonder what came first, the court adjournment or the extension to the ''Option Agreement'', both on the 1st March. I would like to think, in the course of fair play, that AC knew of this adjournment before he announced the extension. However, if the court has adjourned till the 1st March because of Zeniths announcement we could apply preferential overtones, or even racial bias as being the predominant factor, I do hope not.

Don't get upset Moses, just making a point.

I think it's absolutely outrageous that some people should be allowed to accumulate a 100% profit from a 16 month investment.

Makes sense Londonfish5.

Anyone know why ADME is up 18%?

He expects the injunction to be thrown out within six weeks. We should be looking at huge rewards if he's right.

Well it looks like he's definitely going for it. The only hurdle now is to clear the injunction.

I like your train of thought FV. He's certainly concentrating his efforts towards his already acquired assets at the neglect, maybe, of Nigeria. There is talk on the ADM thread that suspension is near and Tom Winnithrith is constantly driving nails in to make that happen. Whatever happens to ADM the court injunction will still be in place. So, I cannot see any progress on the Noble Hill deal until the injunction is lifted.

The next set of figures should transform the price regardless of what happens in the mean time, Earnings up to and including March 2022 will show the sale of oil from multiple concessions including profits from Italy. The half year interims were unaudited, so not all analysts/brokers include them in valuation assessments. The only problem is the last one was on the 31st August, five months beyond the financial year end. Lets hope the next one is sooner.