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Also in the investor call on Tuesday, doubtless the timing of the Tilapia licence award will be addressed.

And it will be interesting if the company is able to put any more 'meat on the bones' about this.

There are already signs that it is becoming more confident about timing.

Because the company's August 2022 Newsletter to Zenith Energy Fixed Income Investors included this snippet:-

"The Company has a number of significant ‘growth catalysts’ between now and the close of 2022 that might bring about a transformational leap forward in its size and revenue generation. This is especially the case in respect of our long-held business development objectives in the Republic of the Congo, where we expect to be awarded a new 25-year licence for the Tilapia oilfield, as well as in other jurisdictions where the Company is reviewing potential acquisition opportunities."

https://www.zenithenergy.ca/wp-content/uploads/2022/07/Newsletter-August-2022.pdf

Whereas previously, the company was using the phrase "in due course", meaning that it would happen when the time was right for it, and that it couldn't make it happen any quicker.

From ZEN's interim report for the 6 months ended 30.9.21, dated 30.11.21:-

" ... Zenith remains fully confident to obtain a new 25-year license in due course. ..."
https://wp-zenith-2020.s3.eu-west-2.amazonaws.com/media/2021/12/Zenith-Financial-Statements-30-September-2021.pdf

Buko, if my maths is wrong in some way, then please correct me.

For a field with reserves of 300 million barrels, I don't see why multi million barrel p.a. production isn't achievable.

3 million barrels p.a. for example would be just 1% of the reserves.

I will admit that the figures look surprisingly high, which was one reason why I miscalculated yesterday.

Still, there's an investor call in just 6 days, which is an ideal opportunity to question ZEN about Tilapia's potential.

"If the field is developed into 8 producing wells, each producing say c. 1,250bpd or so, that could equate to about 450,000 barrels p.a.
At about US$100/barrel or so, that could have a sale value of about US$45 million."

Please note a correction to my post of yesterday morning, with apologies.

The 450,000 barrels p.a. figure is just PER WELL, at a rate of 1,250bpd, not for the 8 wells combined.

So the aggregate figure for the 8 wells combined would be 3.6 million barrels p.a.

Which at about US$100/barrel or so, could have a sale value of about US$360 million.

" ... from memory, the flow rate stays stable, from the Djeno wells, up to 5,000 barrels a day, per well, ..."

Thanks for that additional info. Wraith.

A flow rate of up to 5,000bpd, from multiple wells, could clearly make the above figures even more spectacular.

5,000bpd per well, at about US$100/barrel or so, could have a sale value of about US$500,000 from just a single day's production, from a single well.

Put it all together, and the Tilapia filed looks like it could potentially have billion dollar p.a. production potential.

Italian multinational O&G company Eni has been present in the Republic of Congo for over 50 years, and is the only company committed to developing that country's huge gas resources, recently signing an agreement with the country for this.

Which helps makes ZEN - with its Italian leadership and operations - the perfect choice to develop the Tilapia licence area in the Republic of Congo.

"The Republic of Congo and Eni agree to increase gas production and supply
21 APRIL 2022 - 1:05 PM CEST

Brazzaville (Republic of Congo), 21 April 2022 - In the presence of the Minister of Foreign Affairs of the Republic of Congo Jean-Claude Gakosso, of the Italian Minister of Foreign Affairs, Luigi di Maio, and of the Italian Minister for Ecological Transition, Roberto Cingolani, the Minister of Hydrocarbons of the Republic of Congo, Bruno Jean Richard Itoua, and the CEO of Eni, Claudio Descalzi, signed a letter of intent in Brazzaville today to increase gas production and export. Following the signature, a meeting was held with the President of the Republic of Congo, Denis Sassou Nguesso.

The agreement provides for the acceleration and increase of gas production in Congo, primarily through the development of a Liquefied Natural Gas (LNG) project with start-up expected in 2023 and a capacity of over 3 million tons / year (over 4.5 billion cubic meters / year) once fully operational. LNG exports will allow to valorize the production of gas that exceeds Congo’s internal market needs.

The Republic of Congo and Eni have also agreed to define initiatives to promote decarbonisation and sustainable energy transition in the country, in particular in the areas of renewable energy, the development of an agricultural supply chain to produce feedstock for biorefining without competing with the food chain, the conservation and sustainable management of forests, the adoption of clean cooking systems, the capture, use and storage of CO2.

Currently Eni is the only company committed to developing the huge gas resources of the Republic of Congo; it currently supplies gas to the Congo Power Plant (CEC), which guarantees 70% of the country's electricity production. Eni has been present in Congo for over 50 years."

https://www.eni.com/en-IT/media/press-release/2022/04/republic-congo-and-eni-agree-increase-gas-production-supply.html

"Reserves
300 million barrels"
https://www.offshore-technology.com/projects/tilapia-oil-field/

Thanks for that useful info. Wraith.

300 million barrels of oil, at c. $100/barrel, would have an in-situ value of about US$30 billion.

If the field is developed into 8 producing wells, each producing say c. 1,250bpd or so, that could equate to about 450,000 barrels p.a.
At about US$100/barrel or so, that could have a sale value of about US$45 million.

PPP's ambitious growth strategy, which it is effectively implementing, looks to give it mid-tier energy company potential.

And for a mid-tier energy company, the norm seems to be a market cap. of £100s of millions, though it can be over a billion:-

"Are mid-tier oil companies in the M&A crosshairs?

Could the potential acquisitions of Gulf Keystone Petroleum and San Leon Energy signal a buying spree?

December 22, 2016
By Alex Newman

... a £300m company ...

... valuing the group at £229m ...

https://www.investorschronicle.co.uk/2016/12/22/shares/news-and-analysis/are-mid-tier-oil-companies-in-the-m-a-crosshairs-RVOYrxlxdhtOSqgf7erHTN/article.html

"A leading mid-tier
oil and gas company"
https://www.serica-energy.com/
- Current market cap. £1,070M.

Of course, most mid-tier energy companies don't start out that size: they tend to start off small, and grow.

Serica Energy (SQZ) for example is a c. 7-year hundred-bagger (2015-2022), after a prior s.p. collapse (to a 2015 low of just below 3p). (The company operates in the UK North Sea.)

And incidentally SQZ has risen over 50% since the start of June, to its current s.p of 392p.

PFAS in drinking water is clearly an enormous problem, which is why huge amounts of public money is being made available to tackle it.

MYX looks to have the ideal solution, so looks well-placed to capture some juicy contracts shortly, catapulting its s.p. to much higher levels.

The stock has previously (2013) traded at over twelve times its current s.p. of 42.5p.

"GREEN NEWS

‘Forever chemicals’: What are PFAS and can we solve this persistent pollution problem?

By Rosie Frost • Updated: 13/08/2022 - 08:01

Scientists recently discovered unsafe levels of toxic forever chemicals in rainwater - even in remote locations like the Tibetan Plateau and Antarctica.

“There is nowhere on Earth where the rain would be safe to drink, according to the measurements that we have taken,” lead author of the study Ian Cousins told AFP.

He added that the chemicals are now “so persistent” that they may never disappear from the planet. We’ve passed what researchers call the “planetary boundary” for levels of forever chemicals.

So what exactly are these ubiquitous chemicals and is there anything we can do about PFAS pollution? We spoke to an expert to find out.

... Fuoco adds that forever chemicals that were phased out in products like non-stick pans have been replaced with other PFAS that have turned out to be similarly toxic. ..."

https://www.euronews.com/green/2022/08/13/forever-chemicals-what-are-pfas-and-can-we-solve-this-persistent-pollution-problem

"GREEN NEWS

US government warns of 'forever chemicals' which may make tap water unsafe

By Jill Pole with Reuters • Updated: 16/06/2022

The US Environmental Protection Agency has released new warnings for synthetic pollutants in drinking water known as "forever chemicals" saying the toxins can still be harmful even at levels so low they are not detectable.

The family of toxic chemicals known as per-and polyfluoroalkyl substances, or PFAS, have been used for decades in household products such as non-stick cookware, stain- and water-resistant textiles and in firefighting foam and industrial products.

Scientists have linked some PFAS to cancers, liver damage, low birth weight and other health problems. But the chemicals which do not break down easily, are not yet regulated.

The agency is set to issue proposed rules in coming months to regulate PFAS. Until the regulations come into effect, the advisories are meant to provide information to states, tribes and water systems to address PFAS contamination.

The EPA also said it would roll out the first $1 billion (€957 million) to tackle PFAS in drinking water, from a total of $5 billion (€4.7 billion) in funding in last year's infrastructure law. The funds would provide states technical assistance, water quality testing and installation of centralised treatment systems. ..."

https://www.euronews.com/green/2022/06/16/us-government-warns-of-forever-chemicals-which-may-make-tap-water-unsafe

15th Jul 2022 7:00 am RNS Posting of Circular and Notice of General Meeting
"As announced on 29 June 2022, Ironveld received a requisition notice (the "Requisition Notice") from Richard Jennings, director of Align Research Ltd ("Align"), pursuant to section 303 of the Companies Act 2006 (the "Act"), requiring that Ironveld's board of directors (the "Board") convene a general meeting of shareholders for the purposes of considering the following ordinary resolutions (the "GM Resolutions"):
1. that Chairman Giles Clarke be removed as a Director of the Company; and
2. that CEO Martin Eales be removed as a Director of the Company.
As a result, the Board is today posting a Circular convening the General Meeting for shareholders which is to be held at Ashurst LLP, London Fruit & Wool Exchange, 1 Duval Square, London, E1 6PW at 4.00pm on Friday 12 August. ..."
https://www.lse.co.uk/rns/IRON/posting-of-circular-and-notice-of-general-meeting-vot1sdu1ijgkadb.html

4p.m. is an interesting time to hold a GM.

I do hope they'll be serving tea ... it's just not cricket otherwise.

It's clearly a very exciting period for ZEN coming up, with two major potential positive share price catalyst for the company in H2 August that we know of:-

• Tues. 23rd. August: ZEN investor & analyst conference call, and updated corporate presentation.

• Wed. 31st. August: ZEN annual report (full year results for year end 31.3.22).

I also wouldn't be surprised if there's a positive ZEN RNS next week too, in the run up to the above.

And of course ZEN's final results will mark it emergence from the current close period, after which ZEN directors will be free to buy shares in the company.

ZEN CEO Andrea Cattaneo bought 39,029,728 ZEN shares at 0.825p/ share in January, an investment of about £322K.

"volume has been great..........does seem quite interesting this week the buying volume has increased dramatically.......whether there is substance behind only the Norwegians know..........dyor"

Investverysmart,

I would think that Norwegian investors should be very knowledgeable about the O&G sector, considering that it is their country's largest sector:-

"The industry plays a vital role in the Norwegian economy and the financing of the Norwegian welfare state. The oil and gas sector is Norway's largest measured in terms of value added, government revenues, investments and export value."

https://www.norskpetroleum.no/en/economy/governments-revenues/

During the year ended 31.3.21, ZEN had an average of 59 full time employees (see the company's annual report).

This is an indication of what a substantial, revenue-generating operation this company is.

And of how it likes to do things 'in house', cutting out the middle man, and saving money.

Which is looking a very shrewd move with the upturn in the O&G industry, with other companies struggling to buy in the operational personnel and equipment, and having to 'pay through the nose'.

Re the Tilapia licence area:-

"Licence Area Highlights
• Located in the Lower Republic of the Congo Basin, West African Atlantic Margin, extending from Gabon down to Angola, a prolific hydrocarbon region.
• 50 square kilometres, mainly offshore (less than 10m depth) – drilled from onshore.
• In close proximity to oil storage /processing infrastructure located in the nearby town of Pointe-Noire."

https://www.zenithenergy.ca/operations/republic-of-the-congo/

It's clearly very significant that the Tilapia licence area straddles onshore & offshore, as in this case this means that it can be drilled from onshore, which obviously has huge cost savings compared to offshore drilling.

In comparison, Afrenta's offshore acquisitions in Angolan waters will require expensive offshore drilling.

To illustrate the onshore/offshore difference: an onshore drill can cost as little as US$100,000; whereas a deepwater drill can cost US$100 million - i.e. up to a thousand times as much.

ZEN's management look to have played an absolute binder in picking up the Tilapia asset so cheaply, at the bottom of the market.

Which is not yet reflected in its share price.

"TRANSFORMATIONAL PRODUCTION, DEVELOPMENT AND EXPLORATION IN AFRICA AND EUROPE"

"INVESTMENT CASE

Our strategic ambition is to create value by pursuing transformational energy production opportunities in Africa and Europe through the development of proven assets, as well as performing low-risk exploration activities in assets with existing production."

https://www.zenithenergy.ca/

"Zenith Energy Ltd. is a revenue generating, independent energy company with energy production, exploration and development assets in Tunisia, Italy and the Republic of Congo.

The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith’s strategic focus is on pursuing transformational opportunities in Africa and Europe through the development of proven revenue generating oil, gas and electricity production assets, as well as low-risk exploration activities in assets with existing production.

The Board creates shareholder value by taking an opportunistic approach to asset acquisitions, targeting existing production projects to maximise their potential, whilst performing a comprehensively rigorous due diligence exercise to mitigate risk. "

https://www.zenithenergy.ca/about/

RJ's recent IRON blogs appear to have caused a stunned silence!

THE ELEVENTH HOUR PRINCIPLE:-

"COPIED FROM “BEING HAPPY” BY ANDREW MATTHEWS

In seeking goals, it is important to know about these “eleventh hours.”

Have you ever noticed in life that things can look really bleak just before a dramatic turn for the better? The businessman reports that just before he made his fortune, he was about to quit. Perhaps you have had the experience. Life is like that because there is a principle at work here – the ‘eleventh hour’ principle. it is always darkest and coldest just before the dawn. But if we hang on long enough, we will get our rewards.

If we look at childbirth, we see the principle in evidence also. Just before the most incredible gift of life, the mother-to-be has her patience truly tested and undergoes considerable pain and anguish. (My mother said it was all worth it.)

Once we recognize the eleventh hour for what it is, life loses a lot of its trauma. In effect, the universe often seems to be testing us to see if we are serious about attaining our goal. If we hang on that little bit longer….BINGO!

Once we realized what was happening, we can actually be one step ahead. When everything looks bleak, we can then tell ourselves, “So everything is going wrong! This could mean that everything that I have been striving for is just around the corner.” Then we should feel better.

We will generally be tested in some way before achieving something of value. If we can pick the eleventh hour for what it is; and treat any difficulties as a necessary part of the process of achievement, then, firstly we won’t be quitters, and secondly, we will achieve whatever we desire in life.

Don’t be fooled. The eleventh hour is usually an impostor. When everything looks black, it could be time to celebrate. You may be nearly home."

https://10vantagepoint.wordpress.com/2010/08/25/eleventh-hour-principle/

LSE % Gainers Top Lists
EPIC Name %
AET Afentra +77%

Today's top riser is Afentra (AET), and O&G company operating in Africa.

AET has shot up 77%, to a market cap. of £56M., on progress on the acquisition of a pair of African interests.

The same could happen to ZEN on progress on its Tilapia licence in Africa.

Skid,

MYX has said that they're evaluating partnership opportunities for their PFAS solution, so licencing out of their technology for this could be very possible:-

11th Mar 2022 7:00 am RNS Proposed Placing and Subscription
"... Having achieved this highly significant validation, the Company is now looking to accelerate the commercialisation of its technology across the United States. The Company is evaluating partnership opportunities with several environmental engineering contractors and water treatment specialist companies to expedite its market penetration. Accordingly, the proceeds of the Fundraising are intended to be used to aggressively market and commercialise MYCELX's PFAS solution, which are expected to lead to customer education, further trials and contract wins...."
https://www.lse.co.uk/rns/MYX/proposed-placing-and-subscription-ult0uszmskafuyv.html

Thanks for flagging up that new research Skid.

"Pollution: 'Forever chemicals' in rainwater exceed safe levels

By Matt McGrath
Environment correspondent

Published
5 days ago

New research shows that rainwater in most locations on Earth contains levels of chemicals that "greatly exceed" safety levels.

These synthetic substances called PFAS are used in non-stick pans, fire-fighting foam and water-repellent clothes.

Dubbed 'forever chemicals', they persist for years in the environment.

Such is their prevalence now that scientists say there is no safe space on Earth to avoid them. ...

The researchers from Stockholm University say it is "vitally important" that the use of these substances is rapidly restricted.

Scientists fear PFAS may pose health risks including cancer, though research has so far been inconclusive. They have been growing increasingly concerned about the proliferation of PFAS in recent years.

PFAS stands for poly- and perfluoroalkyl substances.

There are around 4,500 of these fluorine-based compounds and they are found in almost every dwelling on Earth in hundreds of everyday products including food packaging, non-stick cookware, rain gear, adhesives, paper and paints.

Safety concerns about the presence of these long-lasting substances in drinking water have also been raised.

Earlier this year a BBC investigation found PFAS in water samples in England at levels that exceeded European safety levels, but did not exceed the current safety level in England and Wales.

This new study, which looks at four specific chemicals in the class, suggests that levels of one PFAS in rainwater around the globe often "greatly exceed" US drinking water advisory levels.

Soil around the world is similarly contaminated, evidence suggests.

The study's findings lead the authors to conclude that a planetary boundary has been crossed - that there simply is no safe space on Earth to avoid these substances. ...

Removing the chemicals in the study from drinking water at treatment plants is possible, if expensive.

But getting below the US advisory levels is extremely challenging, according to the authors.

As scientists have gained more knowledge about PFAS over the past 20 years, the safety advisories have been continuously lowered. ..."

https://www.bbc.co.uk/news/science-environment-62391069

TMTA non-exec. director Jonathan Satchell also has a very impressive track record:-

"Jonathan Satchell
Non-Executive Director

Jonathan Satchell is Chief Executive of Learning Technologies Group plc (“LTG”). LTG is listed on the AIM market of London Stock Exchange (LTG.L) and headquartered in London. LTG is at the forefront of innovation and best-practice in the learning and talent software sector, and has received numerous awards for its achievements both corporately and for clients.

Jonathan has worked in the training industry since 1992. In 1997 he acquired EBC, which he transformed from a training video provider to a bespoke e-learning company. The company was sold to Futuremedia in 2006. He became interim MD of Epic in 2007 and the following year he acquired the Company with LTG’s chairman. He oversaw the transformation of Epic from a custom content e-learning company to the global, fast growing, full service digital learning and talent management company that LTG has become. Jonathan is also non-executive director of Zappar, the world’s leading augmented reality platform and creative studio."

https://tmtacquisition.com/

LTG's current market cap. is £1.058 billion, at 133.8p/share.

And LTG 40-bagged from its RTO price of 5.88p/share to its high of about 236p last year.

simon gordon 8 Nov '13 - 10:07 - 1 of 2726 0 1 0

"Tech Market View - 8/11/13:

Epic – what goes around comes around

It’s been many years since I last wrote about Brighton-based Epic Group the then self-styled “UK’s leading e-learning company”, in an era when e-learning and so-called ‘learning management systems’ were all the rage. Since then, Epic has had an ‘interesting’ corporate life, including nearly a decade on AIM until it was sold off to publisher Huveaux (now Dods Group) in 2005 for nearly £23m. Epic was sold on three years later to entrepreneurs Martin Sorrell and Andrew Brode for under £5m.

Well, that looked like a good punt as Epic returned to AIM today by reversing into cash shell In-Deed in a £16.5m deal (5.88p per share + £1.3m cash), and now trades as Learning Technologies Group (LTG). Messers Satchell and Brode assume the mantles of CEO and non-exec chairman respectively. Epic turned over a shade under £7m last year (to 31st Dec. ’12) and made a net £532k profit.

The explosion of rich-media and mobile technologies could well spur a renewed interest in the e-learning space, or perhaps more broadly, interactive content distribution. Epic (in the guise of LTG) is now back on our radar!"

https://uk.advfn.com/cmn/fbb/thread.php3?id=30816607&from=1

"NIE Networks is Northern Ireland's number one company with £92.7m profit

Firm heads the list of the Belfast Telegraph’s 2021 Top 100 businesses in Northern Ireland

Margaret Canning

November 23 2021 06:00 AM

NIE Networks is at number one of the Belfast Telegraph Top 100 Companies 2021 in partnership with Grant Thornton after reporting pre-tax profits of £92.7m for 2020.

The Top 100 magazine, which is published today online and in print, ranks Northern Ireland-registered companies with major trading operations here in order of pre-tax profit.

This year’s Top 100, which is compiled by economist John Simpson, reflects the impact of the Covid-19 on the economy and some of our biggest businesses.

Richard Gillan, managing partner at Top 100 sponsor Grant Thornton Northern Ireland, said: “The Top 100 provides an insightful snapshot of the strength of our economy, along with the resilience, innovation and leadership excellence that has allowed businesses to thrive despite an often unpredictable and uncertain backdrop.

“It is heartening to see such a broad spectrum of companies, across all sectors and including family firms, large private enterprises, and multinational corporations, included in the 2021 Top 100 list, and I extend congratulations to all those featured,” Mr Gillan added.

... Moy Park follows at number two with pre-tax profits of £75.8m, followed by Almac Group with £63.6m, NI Water at £58.4m and Bank of Ireland with pre-tax profits of £57m. ..."

https://www.belfasttelegraph.co.uk/business/top-100-companies/nie-networks-is-northern-irelands-number-one-company-with-927m-profit-41079019.html