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I am very happy with the suspension and if it works out I will be even happier.

The Company expects to dispose all assets that are deemed non-core including its Fort Worth Field ("Disposal"), potentially triggering the requirement for shareholder approval pursuant to AIM Rules 15

"Deemed non-core". So not all assets. Austin and ZR were deemed non-core previously: Red Cave was deemed to be core but now FW is non-core too. Previously, they said that the Red Cave was core and no mention of it being disposed of, so Red Cave it is. It looks like the RTO deal is with someone in the Amarillo area who has Red Cave exposure and wants to make it bigger. The IDCs represent real value to a US Based investor and need to be unlocked via a JV but an RTO would do it too. Note that the well operations contracts are not assets and so it looks like we would continue with that. It also looks like the partner we were previously having discussions with have fallen by the wayside.

If Rule 15 is not triggered then this might get done a bit quicker than people think.

It would make no sense to do this unless it is value enhancing. TB has already said he thinks the Red Cave is a great play and very predictable.

I expect that they will want to get support from the larger shareholders and the lenders in due course.

DYOR

https://twitter.com/TereaAfrica007/status/1212687058675871744?s=20

Who would have guessed?

He didn't hype it as a cash cow but as a way to open up opportunities with CAV in Indonesia.

It looks like POW has some decent prospects in this Molopo Farms project. I would expect an RNS, not least to confirm that our percentage holding has reduced.

DYOR

The sellers let the mms off the hook.

You are asking the wrong guy. I have no idea. I wasn't expecting today to happen, I merely analysed the market position earlier.

Zak is okay.
Anyway, as I said the mms have no stock whatsoever. Much more of this and they will be begging AOGL to take a placing from them so they can close their book out.

https://twitter.com/ZaksTradersCafe/status/1211656232559370244?s=20

Interesting. Up 23.81%. Spread narrowed. 1v1. 0.07p paid. Looks like we might go higher. We shouldn't have been down here anyway.

CEFP moved off 0.07p off the back of a £900 buy. No stock whatsoever.

*three mms on 0.07p offer.

Big quoted spread 27% but actual spread is smaller 0.0689 0.585. 1 v 3. Three MMs on 0.7p offer: so you wouldn't think we would go to 0.07p but you never know. £3k dummy buy on IG is 0.0739p. Very strange. Looks like they don't have stock but don't want to move the price. £5k is 0.0835p.

DYOR

Looks like someone likes what they see. Let's hope it is a leak.

Nothing to see, move along please!

https://twitter.com/deepsouthres/status/1210652461565906944?s=19

AC needs a proper CEO or COO to concentrate on the assets and delivery. If this deal doesn't close till April, AC is probably banking on Azerbaijan being sorted by then and having decent cashflow to fund the £500k and have his SP up.

The big issue I have with ZEN/AC is this RNS
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ZEN/14264050.html

Behind the pipe resources are money for pretty much nothing. Why say ZEN has them and will produce from them and then do nothing for 2.5 months? If ZEN has decent behind the pipe resources (say 250 bopd collectively) then why hasn't he done anything about them? Very poor IMHO.

The Company's geological team in Azerbaijan has identified a number of wells in the Muradkhanli oilfield in which perforations of selected untapped intervals are expected to generate additional oil production.
Zenith expects to begin performing the first perforation activities during the next ten days and will provide updates as the activities progress.

That would fund his Congo adventure.

DYOR

It comes down to a few things here:

1. They are probably getting $67 a barrel from Austin but the NG price is poor at FW and okay at ZR. Cashflow will be okay but not great.
2. Can they sell Austin and/or Zink for a decent price?
3. Can they close this JV in the Red Cave?

They need to do something before March so that they can drill in April. Paolo has time on his side at the moment. I don't know but I suspect that they are talking to more than one JV partner. It will be all about terms and timing.

Smaller side issues: have they continued to work on improving production at ZR and Austin?

DYOR

It won't be simple to close this deal: there are a lot of moving parts. It might take till March/April. TSX are a pain to deal with and they don't move quickly.

satisfied by the issue of ordinary shares in the share capital of Zenith to be issued at the volume weighted average price of a Zenith common share for a period of 14 trading days prior to Completion ("Consideration Shares").

AC is going to want to get the Zenith share price up before completion: it reduces the dilution.

DYOR