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MWG did the same this afternoon Hoppo . Many of the smallcap UK players are doing the same so perhaps shouldn't have been too much of a shock?

I'd been kind of wondering where confirmation of BMD's phone call was. Seems he put his credibility on the line a bit there so was actually thinking it maybe true.
Was strange though that they'd give him that info over the phone so watching developments there with interest .

for their gas contracts..

Argentina Commercial Update



Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide an commercial update regarding the Company's gas sales from the producing assets at Santa Cruz Sur.



Further to the announcement made on 20 May 2020, the Company is pleased to confirm that it has secured further extensions to existing contracts with two key gas customers for a further six months until 17 December 2020. These two extensions provide a weighted average contracted gas sales price of US$4.37 per mmbtu (where applicable, converted using the official exchange rate of the Government of Argentina) for combined net sales volume of 5.6 MMscf/d. The successful contract extensions pricing represents a significant premium to the current spot market of approximately US$1.95 per mmbtu which has increased by 45% per cent since 20 May 2020.

No they won't punish ZEN for AAOG's screwups. Be glad to have Andrea around imo after that crew.

Still ongoing yet the sp hasn't reacted at all. Is the market missing a trick here or are they really going to be bought out at under 30p?
"The Company is pleased to report that it received a number of non-binding proposals regarding the sale of the Company or its entire business and assets, directly from potential buyers and through Renaissance Capital as financial adviser to the Company. Such potential buyers who wished to participate in the formal sale process were required to sign a non-disclosure agreement, after which they received further information on the Company.



The Board is now engaged in ongoing discussions with certain of these parties about the sale of the Company (or its entire business and assets) and aims to conclude negotiations on or before 30 September 2020. "
https://www.investegate.co.uk/volga-gas-plc--vgas-/rns/update-on-formal-sale-process/202006260700051487R/

Looking forward to the Congo update but can't beat cash in the bank! That is good news.

All sounds pretty standard then.

Interesting Argentina's gas production is slipping so they're considering a price floor price of $3.50/MMBtu to ensure supply and encourage exploration.
That would be oil and gas price security for the co. whilst they wait the end of covid worries.

Argentina Freezes Gas, Power Rates, Mulls Price Floor for Gas Production
"In response to the demand destruction and adverse market conditions, the government has instituted a $45/bbl oil price floor for producers to try to motivate exploration and production. It’s expected that new laws on natural gas pricing will ensue, with a price figure of around $3.50/MMBtu being studied."
https://www.naturalgasintel.com/articles/122385-argentina-freezes-gas-power-rates-mulls-price-floor-for-gas-production

Hope so too. Was very happy to get in at the placing price. Missed it on launch day so feel quite lucky it came back.
Commodities seem a good bet at the mo for a part the portfolio and these are easier than trying to pick one or two miners and I like very much what I've seen on their model so far.

Joined holders here for a few. Quite like what I hear and the model seems sound. Will give them chance to make us some cash and maybe buy more along the way.
ATB all,

Thanks its you thats appreciated. had a few shares straight away this morning and will just tuck them away on the mask news alone. Graphene enhanced pothole filler sounds like the jam on top. Should see the amount of times they refill the holes our way.
With the masks though I've been deadset against them due to the unhygenic idea of rebreathing germs but these sound much better.
Figure if I'm happy enough to wear them (and I'm a right conspiracy nut) then they'll do well.

First I've heard of them! Time to do some research on these the masks sound perfect for commuters and very impressed with the anti bacterial and anti heat properties. Have dreaded having to wear a mask in the shops or on transport these don't sound so bad at all.

Hate paywalls.
The makers of Zenith Energy's new ally in Libreville, Mberi Oil & Gas
Driven by its need to resume production Zenith Energy is firing on all cylinders in Gabon. It has called on the services of a company not well known in the industry but headed by a former Addax Petroleum executive. [...] (477 words)

re addax.. from wiki
Addax Petroleum was established in 1994 and since August 2009 has been a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China, the biggest oil refiner in Asia and the third largest worldwide.[1] Addax Petroleum was an international gas and oil production and exploration company mainly focused on the Middle East, the North Sea and Africa. Since 1994, the company become one of the largest oil producers in West Africa.[2]

so they're moving and playing with the big boys too.

The $2m investment at 2.5p is still on MP. ZEN haven't fulfilled all the criteria yet.

Got a way to go to get the markets interest it seems but Tunisia's producing isn't it?

https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/acquisition-of-sidi-el-kilani-from-kufpec/202004200916341779K/
SLK is one of the most productive fields in onshore Tunisia and currently produces, natural flow, at a rate of approximately 700 bopd.
· Generates gross annual revenues of approximately US$15 million.

Not after cost savings myself just successful products.
Thought this good news all the same..
"Finally, we are now funded into early 2022 providing the Company sufficient balance sheet strength and runway to deliver on our clinical and business development milestones"

https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/participation-in-2020-marginal-field-bid-round/202006160730000356Q/

Sounds another decent development and funded too. ZENs moving on from the Azer workover days on corrupted Soviet data. .Watch this space.

Thanks AGEOS will go take a look at the website.
Quite intrigued by the 40m payzone.

Market doesn't know that at all kelsbell.

SLK is one of the most productive fields in onshore Tunisia and currently produces, natural flow, at a rate of approximately 700 bopd.



· Generates gross annual revenues of approximately US$15 million.

and again..

Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to have executed the SPA with regards to the interest in the Sidi El Kilani Concession, a highly productive Tunisian onshore oil production and development asset, which has consistently outperformed even the most optimistic production forecasts since commercial production commenced in 1993.

The Board views Tunisia as a safe, democratic jurisdiction with a well-established history of successful oil and gas production activities for junior, independent companies such as Zenith.

Upon completion of this deal, Zenith will have material production revenue for reinvestment in field development activities.

Maybe just patience the rest of it sounds rather good.

Tunisian Acquisition Highlights

· First discovered in 1989 by KUFPEC with commercial production commencing in 1993 and reported to be the second largest oilfield discovered in Tunisia since 1989.



· SLK reached a peak production of c. 20,000 boepd in 1995.



· Covers an area of 204 square kilometres, located onshore, in the Pelagian Basin, Eastern Tunisia.



· SLK is one of the most productive fields in onshore Tunisia and currently produces, natural flow, at a rate of approximately 700 bopd.



· Generates gross annual revenues of approximately US$15 million.



· SLK produces 39 API gravity oil from a fractured carbonate reservoir (Abiod Formation), at a depth of c. 1,600 metres. The reservoir characteristics are enhanced by natural fractures and locally by dolomitisation.



· SLK Facilities include a permanent Gas Oil Separation Plant (GOSP) and a Pipeline of 125 km x 8" diameter, 22,000 bpd capacity from the field to La Skhira terminal.





Zenith expects to soon commission a new Competent Person's Report in compliance with Canadian securities laws, specifically the COGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities, in order to obtain an updated reserves evaluation for the Tunisian Acquisition.



Andrea Cattaneo, Chief Executive Officer, commented:

"We are delighted to have executed the SPA with regards to the interest in the Sidi El Kilani Concession, a highly productive Tunisian onshore oil production and development asset, which has consistently outperformed even the most optimistic production forecasts since commercial production commenced in 1993.

The Board views Tunisia as a safe, democratic jurisdiction with a well-established history of successful oil and gas production activities for junior, independent companies such as Zenith.

Upon completion of this deal, Zenith will have material production revenue for reinvestment in field development activities.



Our strategic outlook is that oil prices will progressively strengthen in line with a gradual worldwide recovery in financial and industrial activity following the progressive alleviation of the devastating COVID-19 pandemic.



The current low oil price environment provides an unprecedented opportunity for companies wishing to expand countercyclically by securing large, revenue generating oil and gas production assets at advantageous terms.



I am also delighted to have initiated a fruitful relationship with KUFPEC, a highly respected subsidiary of Kuwait's State Oil Company with operations across the world including Norway, and I look forward to exploring further cooperation opportunities in the future."