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Pleased to see that AC sticks to his philosophy ie looks at acquisitions but only at the rights price and clearly with the right due diligence which clearly wasn’t ok with the Indonesian deal. Focus therefore 100% on Azeri assets with the right personnel and equipment. Sure many will be pleased with the RNS as they did not like the Indonesian distraction in the first place.

A question for the experts on the board. How easy or difficult is the first task mentioned below with this rented rig and how long could it take? “BD-260 rig will complete the workover of Z-21 by pulling out the entire tubing string from the well, cleaning out the casing to the well's total depth, 3,982 metres, and subsequently performing a number of production tests.”

Couldn’t agree more. Been here since IPO and we will have a drilling rig (rented first and on long term lease after) in a month or two which puts in a different category from both the kit we had until now and other small aim oil companies who just rent. Zarbad is the big prize and there could be delays and failures but we have identified a number of workovers and drill locations with proven oil which could in their own right increase bpod dramatically.

No wonder NvS is happy to have them as minority shareholders: ZCCM Investments Holdings Plc is an investment holding company. The Company's principal activities include managing the Zambian Government's stake in the mining sector. The Company operates through five segments: ZCCM-IH Plc, which is an investment holding company; Ndola Lime Company Limited is engaged in manufacturing of lime and in mining; Nkandabwe Coal Mines Limited is engaged in coal mining; Misenge Environmental and Technical Services Limited is engaged in providing environmental and technical services, and Mawe Exploration and Technical Services Limited is engaged in providing exploration and technical services. Its other activities include developing and implementing investments strategies and aligning company operations; monitoring investee companies; ensuring representation on the boards of the investee companies; establishing and securing joint venture partnerships for projects assessed to be viable, and promoting Zambian ownership and management in mining assets.

As mentioned I’m adding significantly at these levels, as I take also comfort from the fact that Miton UK Microcap have come in as institutional investors at the 4p raise and must have concluded that it’s a worthwhile investment after significant institutional due diligence on Zen.

6 months is purely to cover the period until the even more powerful 2000hp drilling rig arrives under the long term contract.

Good luck with you strategy, I’m very happy to buy a large position at around 4p. Yes we are probably tight on cash but we generate revenues and will continue the very exciting Zarbad workovers with a drilling rig which cannot be compared in any shape or form with the workover rig used until now in Zarbad which will increase chances of success. I remain of the idea of accumulating when it’s quiet and wait patiently a few more months. Time will tell who is right.

Looks very interesting, enjoy http://arcminerals.com/ul/5b4744fe32ceb_Arc_Minerals_Presentation-_July_2018.pdf

On all fronts with one JV partner and clear path ahead http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=ff59tb8s&ArticleHeadline=Start_of_Drilling_increase_of_Zamsort_ownership

Ajb, just teasing you. Only the parties involved know why the transaction has taken place, but what we all know from the RNS is that AC is still believing in ZEN and taking this as an opportunity to add.

Ajb you seem to know everything, so why don’t you tell us ‘why’ ?

Very interesting, enjoy https://audioboom.com/posts/6919068-emmerson-eml-malcy-on-sou-echo-vog-fpm-dgoc-rre-alan-green-on-bowl-so4-ecr-kdnc

Today: Zenith Energy Zenith has announced that its results have been posted and brings an update on their proposed acquisition in Indonesia. The due diligence has evidential negative discrepancies ‘exceeding 5% of the book values’ and ‘therefore Zenith intends to renegotiate the total consideration of $6.6m. I am aware that a number of companies are attempting to do asset deals in the country at the moment and this story is familiar to many of them. It is also worth noting that there have been some interesting share purchases announced lately with Brian Clark, Mirabeau and most recently Miton adding to holdings.

They never had a drilling rig like the one due for 6 months to complete a Zarbad workover, the success chances are far better than with the small workover rig used in zardab until now.

English is not my first language but I’m now sure if intellect should be associated with ajb, especially when he starts his sentence by saying: if there ‘was’..... Anyhow, ajb repeats over and over the same comments, which are per se fair, re pumps, M195, just disregard it is my suggestion. The big picture is clear ie we are revenue generating, well aware of where the oil is and awaiting shortly a drilling rig in Zarbad, after realizing that the rig in hand, albeit cheaper, is not up to the job. It’s a steep learning curve, but we are moving all the time closer to delivering significant results.

That’s why I’m adding here and not in stocks such as 88E anymore. We can all complain about the delays at Zen but we have an incredible asset in Azerbaijan with proven oil, generating already significant revenue and with a CEO with plenty of skin in the game. Add to that we will have in one/two months a drilling rig on site to workover difficult but oil bearing clearly targeted wells, whilst having an incredibly low market cap. Indonesia might also come funded by debt if maths work out to bring additional cash flow to invest in Azerbaijan. Give me Zen any day at this level.

That made me chuckle.

NVS on a mission with a clear strategy signing an nda on Casa http://www.proactiveinvestors.co.uk/companies/stocktube/9729/updated-resource-at-akyanga-a-game-changer-for-arc-minerals-limited-9729.html

Hope Zen confirm the deal as reading the summary this deal is game changing for Zen and will greatly support our Azerbaijan activities. http://www.alignresearch.co.uk/cpt-company/zenith-energy/

Great news, Align with target price above 34p and institutional investor, Miton UK, who are incredibly well regarded. Should be a very interesting day.