Member Info for panman

TTF's just cracked 50 and rising. PXEN must be raking it in at these levels? Not a bad end year results for holders if so.

Hope the trend continues into the New Year!!

Perhaps some of the warrants from the debt settlement shares coming into play?

Only a guess but if any were to be sold at this level would make more sense than it being directors or existing and presumably knowledgeable investors?

From their interims there were..

Balance –September 30, 2024 17,388,393 options and 12,756,843 warrants with a weighted average price of 3p.

Less than I thought I'd find actually but they also have this line so doesn't look like they issue like confetti which is comforting imo.

"WARRANTS

During the six-month period to September 30, 2024, the Company issued Nil warrants (2023 – Nil), Nil warrants were exercised (2022 – Nil) and 1,359,311 (2023 – 171,362,238) warrants expired.

There were no warrants in the money as of September 30, 2024.

The expiry of 1,359,311 (2023 – 171,362,238) warrants during the year was recognized in the contributed surplus amount of Equity section. "

pg 31

https://www.rns-pdf.londonstockexchange.com/rns/6671Q_1-2024-12-18.pdf

Thanks for the recent interview. Comforting to know that Tunis has always paid out before and that Andrea is so willing to go for the throat with sequestrations if they don't.

Didn't a poster here predict he could grab their planes over the weekend? They were spot on by the looks of the interview.

re the European gas price does seem to be rising strongly recently and though its all a bit humdrum now ZEN did report in their finals that revenue was down due to low gas price for a while so good news there too.

Yearly chart looks good imo.

https://www.barchart.com/futures/quotes/TG*1

Some might have noted that a lot of their losses were writedowns of assets relating to Tunis and Congo. Believe the Ezzauoia concession alone was written down by 16M and from what I can see they had 89M booked in impairment in total.

Their finals appear to have been written to emphasis the writedowns to the courts imo and if so they've done a fine job of it.

ZEN did that with SMP to protect the claim against them taking control of one of their foreign held bank accts.

The court took $30K out of SMP's bank acct and gave it to ZEN for their costs too so yes it does seem much easier.

ZEN could actually come out of 2025 with $18M just from those two cases without taking into account the Tunisian Gov cases which is a pretty decent probable second line of income for them imho.

Don't know if we should talk about a PE for them due to it but could be a couple of very handy wins funds wise all the same.

May not be as long as some seem to imagine for the $9M to land imho.

In the RNS it was clearly stated it was immediately enforceable by any court and we know from the interviews Andrea will be up for immediate sequestration leading to sales of their assets to get any payment not received promptly.

He also stated in the first interview with Zak that he knew the market was sceptical but that would change once they'd sequestered and got paid within a few weeks or months.

around 9 mins in.

https://www.youtube.com/watch?v=FE7XEAD1GS0

"Final Decision - Award

The Arbitral Tribunal has ordered ETAP to pay a principal amount of US$6,139,539, reflecting a revision in the price of Brent crude oil used as a basis of calculation, approximately US$2,700,000 late payment interest levied up to the day of the ICC-1 Arbitration decision, US$395,000 as reimbursement for procedural costs associated with the ICC-1 Arbitration, and US$450,000 in legal costs for a total amount of approximately US$9.7 million.

Interests in connection with late payment will continue to be levied until full recovery of the Award is made.

The ICC-1 Arbitration award, in accordance with article 35.6 of the applicable ICC Rules, is final and may not be appealed by the parties. It is immediately enforceable and capable of being granted execution by any competent court."

Should have typed taken rather than frozen. Believe frozen is sequestration Andrea has used before?

Tunis has no choice but to pay up as their assets can be frozen. Written into their own legal system as with other states.

11. What is the earliest stage in legal proceedings for enforcement of foreign arbitral awards at which a party can obtain execution against assets (i.e. party actually obtains possession of assets as opposed to simply freezing assets)?

Execution against assets may commence as soon as the requesting party receives a legal copy of the enforcement decision. Any appeal against that decision does not suspend execution.

https://jusmundi.com/en/document/publication/en-tunisia-1

More reason for them to come to the table soon imo.

Price of gas seems to be on PXEN's side at the moment. Guessing if it cracks $50 we should look for new highs?

https://www.barchart.com/futures/quotes/TG*1

And ZEN went bargain hunting...

https://global.unc.edu/news-story/how-the-covid-19-pandemic-plunged-global-oil-prices/

Didn't ladyofaim state they'd had a settlement offer of $130M already? believe she's been fairly on the ball so far. Would be happy if they upped that above $200M myself as its still silly no's compared to marketcap and would give ZEN the funds to look at some quality projects down the road.

More would be better obviously but would def call that a result from here.

Thanks for the link both, appreciated. Agree good interview like his strong attitude.

Feels like the markets just beginning to believe today. Looking forward to when volumes return after the holiday.

Is there a link for the interview?

Re the Devonian deal I started looking into the play but then read in the Annual report they'd dropped it?

"We have also taken decisive steps by discontinuing the Group’s involvement in potential acquisitions that were no longer attractive, specifically in the Republic of Kazakhstan, the Republic of Benin, the Republic of Yemen,

and the Republic of Congo."

Took it the Kazakh play was the one they were planning to move the rig for?

Think they'll have their choice of plays after receiving funds from Tunis so fine by me.

https://www.rns-pdf.londonstockexchange.com/rns/6660Y_1-2024-7-31.pdf

Thanks truthfactory and straight back at you. Hope next trading year finds you suitably financially enhanced.

Timely reminder....

26 June 2023

26 June 2023

Wildcat Petroleum Plc

("Wildcat" or the "Company")

MOU SIGNED REGARDING FUNDING

Wildcat has entered into a Memorandum of Understanding (MOU) with a third party that has expressed an interest to carry out due diligence on deals that Wildcat can source from Sudan. This third party will then decide whether or not to invest directly into a deal up to an amount of US$25 million. The party is also prepared to invest, following due diligence into other petroleum projects in other African countries which have been sourced by Wildcat. The MOU is not legally binding, can be terminated with 30 days notice and the investors are under no obligation to invest and the Company is under no obligation to take their investment.

They're going to have to up their settlement offer then.

Suppose it was obvious really they thought they'd lose when they made the first offer? Really hope the next is $200M+ that'll shake the dust off the share price!

With them coming onboard as holders at 1.9p they're very welcome. Rather decent outcome for present holders imo.

Goes to show I suppose what an excellent set of plays ZEN got together during covid times.

Wasn't such a bad dealmaker in the end at all just got ripped off once the Tunisian authorities worked out how well a little UK co. had done.

Sad really, guess settling for 48 times the sp will just have to do.