Member Info for kelsbells

I posted the below jokingly nearly 3 months ago after brokermandans supposed call with the ministry of hydrocarbons , 3 months on it actually doesn’t seem like a joke!

In BMD’s language issue call with the ministry of hydrocarbons the other day, maybe Instead of hearing down the line what he thought was ‘we’re pleased to confirm that we’ve signed an agreement with zenith’ was in actuality ‘we’ve agreed we’re going to single out zenith to be punished’ !!

I was out of here for good in January until I was fed another dose of waffle!

AC has been consistently clear on many things over the years , and every single time without fail what he was consistently clear about fails to materialise! I’ll probably get out at 0.75p now. The odds on ever seeing 1.5p here again are long in the extreme!

Utterly ridiculous we find ourselves in the position of spending £200k for a license which has now expired and we’re in a dog fight to get it back in our hands! This should have been 100% bullet proof with the ministry of hydrocarbons before we bought Aaog. Unfortunately it comes as zero surprise to the experienced zen longterm shareholders here. Even posters like market gunslinger have gone quiet , probably now realising a lot of what we’ve been explaining for months about ac and zen is bang on the money

Into September with not 1 rns that can effect the share price in a positive way..in the words of green day , wake me up when September ends!

No it proves even he doesn’t have a clue and has been incredibly naive

There are some posters here who have partaken too freely with hallucinogenic drugs !

Totally irrelevant news, I’ve said for months and months now that the only thing that will shift the share price in 2020 is getting the $5.3m owed from tilapia, although I’ve also said continuously I don’t think they’ve got a cat in hells chance of getting it . There may be a small bounce In the share price if they get confirmation of the tilapia license but that’s only because they’ve made such a typical mess of the situation out there that getting what so many people on here said/thought was a complete formality now would look like a hero play ....As always a **** show

"We are looking forward with excitement to our journey in the Republic of the Congo following the possible acceptance of the Offer we have submitted. The key words here are possible acceptance ...nothing is over the line until it’s over the line ..especially in Africa !

You’ll be reading my depressing realism for a long time then!

Tyb please stop giving your share price predictions as ever time you do the share price falls ! You mention getting production from our other assets. What assets do you mean?! as far as I’m aware the only asset we’ve actually completed on is tilapia, and that license as we know is currently expired!

MG I can confirm that defining a repayment of the $5.3m will keep me happy because it’s the only thing that’s going to get this sp anywhere near 1.3-5p in the next 6 months . Then I can get out again ..and stay out !

Unfortunately don’t think that rns. will have much of an impact on share price still too much uncertainty. We have to wait another month not to get the license accepted and agreed but a preliminary indication regarding the possible acceptance of the offer. In zen vernacular that says you’ll probably be wearing your Xmas sweaters before we actually get this agreed...and you can guarantee another 2/3 fundraisers in that time !

Resourcehunter blimey yes where has he gone?! Always blindly optimistic and finished every post with dyor which always made me laugh as no amount of research on zen will ever make a jot difference to whether you make or lose money here

We bought a bd260 rig 2 years ago for $2.2m it was supposed to arrive 3 months later, a year later we finally got the thing on site ready to go, we used it at well at c-37 and that was it, the only bit of operational activity in 2 years! Even if we get the tilapia license approved there is absolutely zero chance of anything operational actually happening this year.

We paid £200k for a license that expires next week, and legally we have no recourse if that license somehow wasn’t renewed. As it happens I think they will renew the license but I see next to no chance of us getting the $5.3m as again once the license expires they don’t legally have to repay those funds and on that basis (and this is Africa) why the hell would they?! The fact that this hasn’t been tied up months ago puts us in a shocking position as negotiations continue. Aaog shareholders agreed sale on jan 13, AC met president late feb, and to be in this position now in mid July Is quite frankly unacceptable .. I don’t know why I expected anything different judged on every single previous experience with zen

We’ve spent £200k on a license that expires next week, and 5 months from the apparently successful meeting with the president we’re still conducting negotiations with the relevant authorities! That clearly puts us in an incredibly weak negotiating position.

People were told last Tuesday that the vague pumpy rns would lead to another raise , and of course they were spot on ! Although the blindly optimistic tyb told us with his deeper understanding of the modus operandi here that there was clearly no raise coming. There will pretty much be a raise every month because there is zero chance of any drilling activity happening in 2020. Same old story months and years drag on with nothing concrete ever progressing apart from yet another fund raise

MG if you read my post I didn’t suggest he has been gifted most of his shares and I didn’t say he had stopped buying in the last 6 months when they backed away from azer. I said if he was honest he would look back and say he was more than a tad naive/deluded about how certain he was that we would succeed in azer, and also around how much of his own wealth he continued to throw at it (I should know as I did the same!) I estimate 90% of his financial commitment into buying shares was done before the start of this year and therefore based on success at azer. I also said he was proud and he’s going to throw everything at this to try and turn things around and save his reputation . I personally think he’s showing a similar naivety in dealing with the Congolese authorities but time will tell . GL one and all

Carlosan for what it’s worth I think AC has built up the shareholding he has over the years because he truly believed that Azerbaijan was going to be a tremendous success, even last Oct on a video he was still insisting that our share price should be 20p based on the quality of that asset and the reserves it held alone. Clearly nonsense. I think like a lot of us once he was committed he just kept buying and averaging down believing that success was surely just round the corner. I think if he was being honest now he would look back and say that he was more than a tad naive/deluded himself about how easy he thought it would be to succeed in the junior oil and gas sector , he’s a very proud man, and a lot of what he’s done over the last few months in trying to acquire multiple assets in Africa is a last attempt to try and rectify a car crash of a situation and turn the company and his reputation around. Unfortunately through all the many promises and constant failures the company has gradually acquired the uninvestable tag and until he delivers something of genuine significance that will clearly continue .