Member Info for MudPump

Feminazi
" I can wait 5 years can you ??"

I admit that I am not prepared to wait 5 years for the Zena rig, now stacked uselessly in Azerbaijan, to be moved to the scene of its next debacle, so good luck if that is your plan. Of course you'll need to keep buying over that period since there will presumably be around 5 billion shares outstanding at that point.

I wonder what sort of discount the Norwegians will demand this time for the chance to average down....

Feminazi, I strongly suggest you consult a psychiatrist.

AGEOS, thank you, as ever, for your valued contribution; it is good to know that you see geological potential at the Tunisia acquisition. Of course, you also saw considerable potential in Azerbaijan - which, in the hands of Zenith, translated into a 90% loss of the funds you originally invested. Most investors may indeed be ignorant of the full geological potential at Sidi El Kilani, but they are not ignorant of the fact that Zenith do not presently have funds to 'access' the 2000 hp onshore drilling rig. Nor are they ignorant of the track record of Zenith with regard to the extraction of value for shareholders from geological potential. What is curious is that, given Zenith currently consists of a permanently loss making Italian arm, a Tunisian asset acquired for under $1million and vague promises of a W.African acquisition, managed by a team with a track record of failure and holding several million dollars of debt, the market is still valuing the company as having an enterprise value of between $5 and $10 million dollars. What probably ought to be apparent to most investors is that, at that valuation, a further placing will be forthcoming.

+14%

Not a good track record so far, but AC must be very motivated to avoid going down in business history as a clown, and this is perhaps his last chance to prove otherwise. We have potential assets available https://africaoilgasreport.com/2020/08/in-the-news/oil-majors-are-winding-down-in-gabon-congo/ from Italian sellers, a cheap loan from the Italian government to help build the business, a bond rating which means funds can buy the bonds putting a standardised risk of default against them, a paid intermediary with good contacts in Gabon and Congo, and a partnership with a local firm with ex-Addax and PetroGabon shareholders. Surely the probability that AC can make a deal from those ingredients which would support a market cap significantly above today's must be over 50%?

Their main advisor is also an advisor to PetroGabon, and they have announced a partnership with Mberi whose main shareholder is a director at PetroGabon - it's pretty clear where the acquisition will be.

Because with a rating they have a chance to sell bonds to a high yield fund. Unlike Jub etc

There is no doubt that there is potential upside - the sort of deals that the Gabonese and Congo insiders AC has engaged could potentially pull off are certainly worth multiples of the current market cap. The problem is that it is impossible to know from the outside (and that includes AC to some extent) whether they will deliver or are just stringing him along ( ironically, in the same manner as he has strung along investors for the last 2 years).

"Any outcome from from presentation?"

Yes, the stock fell 20%....

Ezhik, if ZEN is awarded Til II I suppose they'll be able to raise money at higher than 0.4p....

According to a poster on a Norwegian site AC is still saying he expects agreement on the repayment of the $5m imminently, which, if true, would hold off the placings for a while (I hope).

A poster on another board quoted AC as saying he was "very confident" that ZEN would be awarded Til II, FWIW. The most positive that can be said here is that the market is expecting failure, whereas AC is paying the sort of advisors and middle men whom might be expected to have a reasonable chance of getting at least one of the deals in Nigeria, Gabon or Congo done. Any sign of a decent deal will surprise the market, which makes for a reasonable punt at this level.

If the supposed date of the Til II award was Aug18 it looks as if the plan was to announce the award at today's call, then presumably make a placement into the rise that would follow. Which hasn't worked out, because it would appear Til II is delayed. Which doesn't mean Zen won't get it, just that it looks more complicated than AC thought - and he may have to forfeit more of the $5m than he thought to close it. Still, either the licence or anything above $200k would make the AAOG deal look like a good one. The RNS is more to have something to talk about than real news. But there are still deals out there to be had even if it takes some time, let's hope he can pull something off in the end.

Or Miton. Or AC lol

Not too sure what to believe of the various conflicting news stories, but if the Til II award was supposed to be today, and the conference call is Thursday perhaps we should expect an RNS tomorrow morning? Sometimes a morning RNS in London has been released the evening before in Norway, and the price does appear to be ticking up gently over there - up 3 % to around 0.6p if I've got the exchange rate correct.

pawnsacrifice - I have no idea if one can short a stock like Zen, but if your suggestion is true, and AC were to announce some positive news, the combined effect of a change in prospects, a change in sentiment and a short squeeze could be spectacular.

Highlander, you are most certainly not taking a detached view. You are positively, almost desperately, opposed to Zen being granted Til II. I would really like to understand why? Is is altruism - you have inside info that Zen will fail and you want to spare new investors losses? Or, more likely, you have some kind of personal issue with AC? If so, why don't you explain it here - your honest account of why you detest him so much might move investors against him more effectively than planting vague stuff with TW, AEI etc.

Highlander, I assume you are the one feeding this stuff to TW, AEI etc. Could you explain why you are so desperate for ZEN to not be awarded Til II?

And right on cue, up pops highlander lol