Member Info for GarethUK

Elegance,

Completely understand your position, and agree that having directors heavily invested confirms alignment.

AC is a very special person, and so more than three-quarters of my investments are in ZEN. I believe in AC and in his vision. I flew over to Oslo in February to hear his presentation to Scandi shareholders and to meet him, and I have been in touch with him since. I totally go along with his view that the ICC2 was unfortunate, but in reality it was just a delay and justice will be done in the end.

Additionally, the rate of roll-out of the solar farms is impressive, and again down to AC. I am definitely a fan, and will continue to back him as fully as I possibly can.

StockCheque,

Yes, I agree, very comprehensive and very positive. I have bought another 80,000 at 3.9p this week (to add to an already huge holding) and I know I have a bargain. I only wish I could find the cash to buy more.

I hope his interview gives renewed confidence to Florida, Elegance and others posting on this board. Your faith will be repaid - just give it to this time next year and everything will be clear and positive IMHO!

AC’s interview is now on YouTube

https://m.youtube.com/watch?v=ZK7T_QaEc-A

I did say ….

AUG 2025 14:32 CEST

ISSUER

ZENITH ENERGY LTD

August 10, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of 30 MWp Agrivoltaic Development Projects

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the listed

international energy production and development company, is pleased to announce

the acquisition of 5 development-stage agrivoltaic solar energy production

projects located in the region of Piedmont, Italy (the "Acquisitions"), by its

wholly-owned Italian solar energy portfolio subsidiary, WESOLAR S.R.L.

("WESOLAR").

Acquisitions Highlights

•⁠ ⁠The Acquisitions comprises of 5 agrivoltaic solar energy development projects

located in the Piedmont region of Italy, with a combined installed capacity of

approximately 30 MWp.

•⁠ ⁠Agrivoltaic technology integrates agricultural activities with solar energy

production, optimising land use and supporting sustainable agricultural

practices. It is planned that each project will utilize single-axis tracker

systems on agricultural land to maximize solar energy generation efficiency.

•⁠ ⁠Italy stands out as one of the leading countries worldwide in agrivoltaic

technology and implementation.

•⁠ ⁠The Company expects the Acquisitions will all achieve ‘Ready-to-Build’ status

within the next 12-16 months.

•⁠ ⁠The consideration for the Acquisitions is EUR 3,100,000, which includes the

purchase of the land hosting the Acquisitions, and will be payable conditional

to the achievement of all the necessary permits to achieve 'Ready-to-Build'

status.

Zenith’s Solar Energy Portfolio now includes:

•⁠ ⁠Liguria Solar Asset: 0.5 MWp (Operational, currently producing at 0.2 MWp).

•⁠ ⁠Puglia Solar Asset: 3 MWp (Ready-to-Build).

•⁠ ⁠Agrivoltaic Development Project in Piedmont: 7 MWp (Development Stage).

•⁠ ⁠Agrivoltaic Development Project in Lazio: 10 MWp (Development Stage).

•⁠ ⁠Agrivoltaic Development Projects in Piedmont: 30 MWp (Development Stage).

StockCheque,

I agree entirely. So much upside potential in the sp and currently at a ridiculously low level.

I’m sure AC will confirm all that you have set out here and more in his interview next week.

There will definitely be an update interview from AC on Tuesday next week (ie 12/8). It’s being recorded on Monday. It will cover everything through from ZEN’s plans for growing the solar business, to the latest on the arbitrations, particularly ICSID. He will explain how he proposes to handle ICC2 annulment and next stage, as part of it.

The conversion of ZEN from being an oil producer in dodgy jurisdictions, to a high potential future proofed solar business in very stable jurisdictions, is genius.

A very simple but clever business model makes it work: buy developments like the one just announced, using EU and state subsidies to the full, and use low interest rate loans to cover the capital costs, which then become self-funding because the installations are relatively quick to set up and get running, with very low revenue/running costs but high profit margins (solar installations don't need labour to operate).

AND you get the huge potential of the outstanding arbitration cases, one of them for hundreds of millions potentially, plus the payout of over $10m for ICC1.

INMHO this makes the current sp a gift! I am sure we will hear more on all of this from AC's video interview next week.

From Zak Mir this evening. Basically saying what StockCheque said this morning!

Comment: ZEN continues to beef up its renewable energy strategy, dusting itself down as far as the Tunisian arbitration, which no doubt it is still keen to prevail. In the meantime the company has the upside of going solar.

SC,

How big does ZEN need to be in terms of MW, to be of a similar size to the established solar businesses you have referenced?

SC,

Looks very like the kind of prospect that AC has in his sights.

Definitely on a very determined acquisition trail.

SC,

Yes, you are right, his list includes the 10 MWp announced today. There is more to come before the year end.

What MWp would ZEN have to reach in order to be comparable with the peer group you reference?

SC,

RNS today confirms another 10 MWp making 30 MWp now, so expect another announcement of 10 MWp before year end.

SC,

I think we will hear that ZEN is heading for 40MWp by year end, in AC's interview due out in a week's time (on 12/8).

Anyone buying now is on to such a good thing. Unfortunately/fortunately, all my cash has already gone in, so I am currently scraping around to find a few more pennies to buy more.

StockCheque,

If we are producing say 40 MW by the end of this year, how does that compare with the other solar companies you refer to which are valued at around £600m?

Are these the same solar companies that pay 8-9% annual dividends?

Zak Mir this evening

Zenith Energy (ZEN), the listed international energy production and development company, announced that it has acquired a Ready-to-Build solar energy production project located in the region of Puglia in Italy, by way of its Italian subsidiary created for the purpose of managing its new solar energy portfolio, WESOLAR S.R.L. The Acquisition will have a power output of approximately 3 MWp.

Comment: ZEN dusts itself down in the wake of its recent arbitration road bump, by continuing the momentum it has gathered in the renewable energy space. This can be regarded as something of a hedge against the result of its legal journey.

Apologies, just seen that it’s been posted here already. Doh!

Thanks StockCheque

Just for interest and who knows about the accuracy, but here is the latest from Lady of Aim on X

The ICC ruling was a farce. Legally, this was a certain win until a last-minute twist threw everything into chaos. Funny how Cecilia made multiple trips to Tunisia before the decision... This isnt over. New evidence is coming and annulment is in play. ICSID will see justice done.

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Acquisition of Ready-to-Build Solar Energy Project

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; PINK

MARKET: ZENAF), the listed international energy production and development

company, is pleased to announce that it has acquired a Ready-to-Build solar

energy production project located in the region of Puglia in Italy (the

“Acquisition”), by way of its Italian subsidiary created for the purpose of

managing its new solar energy portfolio, WESOLAR S.R.L. ("WESOLAR").

Acquisition Highlights

• The Acquisition will have a power output of approximately 3 MWp.

• It is strategically located next to the A14 motorway and is approximately 500

meters from a local industrial zone.

• Connected to a nearby E-distribuzione medium-voltage substation, ensuring

efficient integration into the local grid.

• Situated in a region known for its strong solar irradiance, the Acquisition is

expected to benefit from high energy productivity. Classified as

"Ready-to-Build", the project has already obtained all necessary permits for

immediate commencement of construction.

• The Acquisition spans a total of 3.5 hectares and was acquired for EUR

280,000, equating to a cost of EUR 80,000 per hectare.

Andrea Cattaneo, Chief Executive Officer, commented:

“Zenith’s recent acquisitions clearly demonstrate the successful execution of

our growth strategy as we work toward our goal of building a 20 MWp solar energy

portfolio by the end of 2025. In consideration of the several larger

acquisitions under active review, it is likely we shall significantly surpass

this target.

The acquisition strategy is designed to establish a sustainable, forward-looking

foundation for long-term, organic revenue generation and profitability. We

intend to finance this growth through favourable bank lending terms, providing

the Company with the financial flexibility to redefine its strategic direction

following the termination of its energy production portfolio in Tunisia.

Today’s acquisition is fully permitted and situated near a grid connection

point—an essential factor for the efficient sale of electricity. It should be

underlined that this is a conventional solar energy site, not an agrivoltaic

installation, which makes it a simpler and more cost-effective project to

develop.

We have a strong pipeline of upcoming developments across multiple areas and

look ahead with great optimism.”

And just listen again to those last 3 minutes for transformative scaling up at 34 x for a company that’s already in production, not casting around just hoping to strike lucky.

Just watched the long Stockbox interview from just over a month ago. Watched other interviews with CEO beforehand.

If anyone is in doubt about the potential of Kazera, I strongly recommend listening to the final 3 minutes of that interview if you haven’t got the patience for the whole thing.

Totally compelling!