Member Info for panman

Seems very brave of Chevron to be returning to Uruguay as they are. They rushed over there in the 70's after the Kudu gas field was discovered offshore Namibia and drilled two wells more or less on top of CEG's play looking for oil and drilled two dusters before leaving.

Apparently they found evidence hydrocarbons had migrated through the area which they took as a glimmer of hope and some thin layers of gas bearing sandstone which I believe is what disappointed Shell in Namibia and led to their writedown there.

Namibia now being described as potentially prolific but complicated re geology.

Chevrons failed drills were named Gaviotín X-1 and Lobo X-1 h if you want to check back with your barman sam. Think he'll find them interesting if a little concerning.

Thank you sam thats helpful. Did the barman think that chevron's failure in the orange basin was just a hiccup too. Noticed they've not been put off the play itself so didn't take it too negatively myself (it is exploration after all).

How deep are CEG's plays? Hopefully not ultradeep?

Thanks in4cedros, not pretending to have any expertise on Namibia or knowledge of what any crossover if any will be just trying to learn really.

With these plays being stated as being analogous to Namibia I'm a little concerned by reports its not going so well there. What effect if any will any further disappointment there through the year have on OFF-3's auction process?

Is Namibia's Oil & Gas story over? - the Shell $400million writedown

https://www.youtube.com/watch?v=S8pwQ1yooPE

All seems to be bad news there at the moment. Will sentiment sour in Uruguay?

https://finance.yahoo.com/news/chevron-faces-setback-well-fails-122200210.html?guccounter=1

Re the below not so worried about seeing revenue as knowing the flowrate with Pulsar. Grades sound amazing but does it flow well? That seems to be the 64M$ question with these helium plays (imho)

"Look for instance at Pulsar Helium a brilliant bell weather in the UK they trade at 27p on AIM yet their fully fungible shares also trade in Canada on the TSX at a remarkable equivalent of 42p a totally jaw dropping 36% difference."

Just made me laugh really. I'd more or less forgotten the Congo almost like leaving $9M down the back of the sofa..

So easy to forget a possible $9M pay out with ZEN them having so many cases going on. lol..

"The Company has appointed Charles Russell Speechlys as new legal counsel before the Court in connection with the legal claim against SMP. The final submission for court pleadings is expected to take place on October 25, 2024.

"The final pleadings of the case, resulting in a potential positive ruling in favour of AAOGC by the Court, are expected to now take place on or around March 2025."

They've remembered the Congo on the Norwegian site..

"Herman* wrote.

I think people will consider it frivolous to pay out a dividend of 10 cents when the company may not be .

I think a lot of people forget that they also have a case against SMP Energies going to court this March. This one is *only* for USD 9 million. But it is an ordinary court case where the opposing party has a short time to pay in the event of a loss. Here, the court can go directly to the company and take cash from the account or possibly sell equipment / parts of the operation to collect the money. so there will most likely be a fresh amount in Zenith's account when this case is over. the court has already awarded 120,000 usd to Zenith due to the counterparty's unwillingness to cooperate with the court. That money was paid out. So Zenith's finances going forward look strong."

Translated with DeepL.com (free version)

https://www.finansavisen.no/forum/thread/168819/view/0/0?page=22

I always try to hold for the end game but I'm a bit OCD and it can come out in overtrading. Didn't do it here thankfully enough but have elsewhere to my chagrin.

That's a good average TYB. I had 2.75p av before trading a few end last week. Up in the 7's now but that'll do it was fun.

Not sure how many take notice on the charts but stocks sat on the 18dsma again, if it bounces from here that'll be the third time on this rise so fingers and toes crossed.

Any news on the meeting today? Saw AC's total shares now and wished I had that many. lol

Agree its felt torturous but the SP has been rising on and off since Oct.

Interest does seem a little slow though given the gas price is just a smidgeon under 20 % higher than last Q so pretty amazing revenue growth even before permits arrive for greater production.

Re divi's I know they've said they'll give one for the $9.7M when it arrives but think I'd prefer them to use that to look into something they can farm into on a non op basis aimed at giving sustained cashflow that they can build on whether they win the bigger cases or not.

Asia would be good imo, they're not anti hydrocarbons there and are still growing.

Not actually expecting them to lose the bigger rewards but do appreciate the cautious approach when rebuilding a business.

Jay the below is all that matters.

"Typical penman

What does it matter when I bought back in?"

Its the trade that counts not the mouth Ralph.

Filtered now so we don't fill the board up. ATB for your trading tomorrow.

Think jay tried trading is all. Bought too high and has now sold likely at a loss.

Tomorrow's meeting maybe interesting. He's had 24 hours or more to work out what the market want to hear . Wonder what he'll come up with.

2pm our time for another 4 hour stint I believe?

I didn't conveniently forget anything jayjay. Check my post again.

You posted yourself you'd bought back in before 10 am so what happened to the sp after is really a moot point...

Jayjay12 Posted in: ZEN Today 09:50

"Well didn’t get to 20% but 14%-16% at one stage

Now bought more at great price"

Did you call it that well Jayjay?

I remember an ad hoc comment yesterday but today you bought back in really early and not at 20% down more like 10%? and then you were as surprised as anyone the sp didn't rise.

How is that a result?

All in your posts too...

Jayjay12 Posted in: ZEN Today 09:50

Posts: 26 Price: 8.45

No Opinion

RE: Investor meetings today and tomorrow in NorwayToday 09:50

Well didn’t get to 20% but 14%-16% at one stage

Now bought more at great price

Jayjay12

Posted in: ZEN Today 12:54

Posts: 26 Price: 8.20

No Opinion

RE: Director buying

Surprised that this is floundering around at this level.

Would have expected news about meeting to have been leaked

Slightly odd imo

Think he's doing the right thing with the divi too. AST had a cut off date for their payout yonks ago and the market lost interest in them the next day. Think they're still tuppence now which is sad for holders imo.

Thanks Gareth, think myself confirmation of special divis being given out is key. One for each case is three carrots too. Nice.

Post translated from here..

https://www.finansavisen.no/forum/thread/168891/view/0/0?page=12

Yes, it was an interesting meeting, I must say...

As far as I understood it, this meeting was to be published so that everyone could see it.

Many good questions from the audience.

AC seemed very calm and trustworthy.

There has been contact between the parties outside the trial, which confirms the rumors. Beyond that, there was nothing concrete that had come out of this. The number of shares in circulation is: 445,714,354, the reason why this number is not always the same as the number on the London Stock Exchange is that there is a delay. The correct number of total shares is what is listed on EuroNext at any given time.

There were questions about why they hadn't offered a rights issue, the reason being the cost and difficulties between it being a Canadian company with listings in Norway and the UK. They had been working on this, but they calculated that there was now no need for this until after ongoing cases.

Regarding the timeline, which had a deadline of January 20, they had delivered according to the deadline, but they did not know if Tunisia had done the same. They did not have access to the feedback to the court on this. They did not have the right of access. There will be information about this at a later date, he assumed.

AC was very clear that he wanted to appear shareholder-friendly, so he would work to ensure that there would be a repayment of capital or dividends after each individual case, not as a sum in the end, but the three cases separately.

He was very confident about case number two, which was structured in the same way as case 1. He also talked about the likelihood that it would be more than NOK 130 million, which is their claim in relation to what happened in case 1, where they had a claim for NOK 6.7 million, but were awarded NOK 9.5 million (42% up from the claim...), which says something about what the court saw in the case. ETAP was apparently very poorly prepared.

No, there was a lot about the future, but his and management's focus was now on these issues

No need to gloat. Nobody likes a smartbottom!

Strong bounce so far imo. Blue finish?