I actually think the rns from fog this morning was pretty good and makes strategic sense
Really hard to get your head around the lack of trades and momentum today on the back of that rns !
No one invested in this company over the last 6 years here or in Norway to end up looking to pick up some minor assets in Oklahoma! This is a terrible fly by the seat of your pants business strategy that is taken purely out of desperation to keep this pointless enterprise going . But psychologically people have to believe when they’re this committed inspite of the bleeding obvious that’s staring them in the face . Ask yourself one question, if you could start again would you invest in zen today ?
Yeah derampers have clearly been so wrong here over the last 3 years!! if people can’t see the reality of what’s happened here and continues to happen with every fairytale rns , then they sort of deserve what is undoubtedly coming their way . And contrary to belief you can’t just sell if you don’t agree with the direction of travel , this share is about as illiquid as it gets. Call up a broker and ask how much you could sell 3/4 m shares for here and they would offer you something in the region of 0.3…definition of a basket case share
With zens track record, does the communication from the Yemeni govt in response to the jan SPA rns not give you a teeny weeny bit of a gut feeling that the Yemen asset might not actually get done ?!! People say dyor all the time and then seemingly ignore clear red flags like that !! …blind leading the blind
AL-MUKALLA, Yemen: The internationally recognized government of Yemen has flatly denied a statement by international oil company Zenith Netherlands regarding the acquisition of oil fields managed by OMV in Yemen’s southern province of Shabwa, saying that the company is ineligible to acquire oil assets in the country.
Yemen’s Oil Ministry said that it had not authorized the sale of OMV oil facilities in Yemen to the Dutch company, accusing both companies of releasing “misleading” information.
The Yemeni ministry said that for any purchase deal to be approved, the purchasing business must be multinational, well known, as well as financially and technically competent.
Zenith Netherlands does not meet the ministry’s financial and technical conditions for relinquishing OMV’s shares, it added.
“The Ministry of Oil and Minerals holds OMV and Zenith companies legally liable for disseminating such misleading information.”
Tyb you continue your 100% run of being wrong , when the news came out I did post actually, asking if anyone knew how this acquisition would be funded. But why let the truth get in the way of your story!
Anyway it’s still ridiculous lining up an acquisition in one of the most politically difficult countries in the world , announcing the agreed acquisition price of $21.6m while clearly having had no conversation with the relevant authorities about their criteria for any takeover in their country. And it’s clear that the Yemen government have had their nose put out of joint that an agreement in principle is in place without their knowledge. It’s hard enough getting approval in any countries as shareholders here have learned plenty of times, without upsetting people from the start . I would there’s an extremely small chance of this happening now .
Tyb I know you just like to make things up on the spot but to be clear unlike you I’ve never been banned, I post here occasionally because it’s a free forum and I like to look in from time to time.
By the way in mid 2020 you were telling everyone we would be producing 3,000 bopd from tilipia by the end of that yeah and in typical fashion shouting down people who disagreed with you. that prediction isn’t working out too well for you is it!
As I said earlier you’re highly unlikely to get an rns from the company, historically they don’t update on bad news and failure
I’m mean seriously how can you get that far down the line on an acquisition without having any understanding how the authorities you need permission from to do the deal feel about it?! complete incompetence.
It’s like Brighton announcing they’ve done a deal to sign Jude Bellingham without asking him if he’s ok with it.!
Same with tilapia how can you buy a license that’s just about to expire without having a commitment that the license will be renewed 3 yrs later still nothing!
People have been warned time and time again to take everything announced here with a large pinch of salt but people only hear what they wish to be true. I doubt there will even be an rns on Monday, they always just ignore bad news and failure it’s happened dozens of times
Absolutely no agenda just completely wise to what has and continues to go on here , but people will always be wedded to the version of events they attach themselves too. Madness of crowds etc
The facts here on shareholder value destruction, and dilution are undeniable .
Bear don’t point out the hard cold reality of as you say the epic value destruction, most dreamers on here get very upset. How can people seriously in their right mind still believe tilapia will happen now, particularly on the terms laid out 30 months ago when they acquired tilapia but didn’t actually acquire tilapia because the license was just about to run out! AC took an absolute flyer to try and save face and the business..If it does come off now the terms would probably be so stringent that it’s not worth bothering with, as it would just mean diluting shareholders to oblivion
Seriously people here can’t still be believing tilapia is going to happen 30 months on after announcing it! that is the ultimate in mindless optimism! It was a last chance saloon shot by AC on a license that was just about to expire, after the shambolic humiliation in Azer..Even if by some miracle it does come through the terms will be so heavy now it will probably be debatable as to whether or not it’s worth taking on.
Same old play book here, when will people ever learn here? zen constantly taking options and making promises on licences that are at best complicated at worst impossible to get over the line. Tilapia 27months and counting oil at over €100. Ask yourself who in their right mind would let someone have that tilapia license without charging an enormous license fee, and large revenue share ? Then for good measure add in the fact it’s Africa!
Mis you’re absolutely right to think about this share the way you do, don’t worry about the echo chamber element here. 22 months today since the announcement of aaog/ tilapia purchase and the share price down 65% since then. Dealing in Africa comes with a major health warning and nearly 2 years with no license being approved should leave any logical mind realising the chance of tilapia actually getting over the line have shrunk considerably. The market loved and bought in to the azer opportunity big time, AC completely ballsed it up big time either in his initial DD, over promising in his communication or lack of competence in the field. He then tried to save his reputation by desperately charging around Africa trying to make things happen but as always there’s more questions than answers with zen and the market doesn’t believe and the share price doesn’t lie.
Have a lovely weekend