Ja hvor er de millionene som ble hentet til denne fiaskoen, til alle dere som liksom har hodet på rette plass og er fornuftige, har dere glemt Tilapia 2? Må si jeg taff godt da jeg mente vi hadde ventet lenge nok på Tilapia 2 og at det hele var korrupt og gjennomsyret av kameraderi mm. Det er veeeeeeeeeeeeeeldig lite å høre om hva som skjer med de andre utviklings operasjonene/ feltene som er i utvikling. Hva skjer av utvikling ang. flere borede brønner og dagsproduksjonen, hvor mye olje er solgt og hva er utsiktene . Her foregår det altså samtaler som koster mill på mill, å være i samtaler koster normalt ingenting annet en en advokat og reiseutgifter samt lokaler som selgerne kansje holder. Når Tillapia 2 ikke er i boken lenger, så må jo det ha frigitt mange mill. til andre prosjekt. Ikke et ord om det, hvor blir det av alle millene?????????????????. Men innside kjøp er en regel her , huff huff dette er verre en jeg egentlig vil tro. Så vil en ikke ta inn over seg hele historien ang. Zenith, ja så ser en heller ikke noe galt med selskapet. Det er ingen grunn til å stole på ledelsen. Kursen kan ikke heves før en får tillit ledelsen, og den er nesten ikke eksisterende lenger. Så er de i forhandlinger og kjøper i bøtter og spann uten at aksjonærene er innvolvert, synes dere dette lukter tillit???????

bought more 10 million around 0.068 to 0.07 from yesterday. Benin and Zenith will give rise upto kr 0.5 in coming months after neglecting SLK and EZZ.

Why management will buy until they believe in company. One big deal like Yemen all will change. Tilapia 2 is really disappointing but money will come in account either in cash or in terms of new field. $200k same money they lost in Tunisia in SLK with KUFPEC.

Perfect buying opportunity, all it takes is Benin or Yemen sealed and the price will double. Right now we’re at bottom and perfect entry to lower the average down or buy in.

Jeg er helt ligeglad med at AC køber aktier - det jeg ikke er ligeglad med er at firmaet pengemand køber aktier, det kan nemlig tyde på noget meget positivt -

Mr. Luca Benedetto, Chief Financial Officer of Zenith has subscribed for 27,726,716 common shares of no-par value in the capital of the Company in connection with the Norwegian Financing.

Aqualight 🇩🇰🇳🇴

This info gives bottom to fall one more important thing here is Congo still on card with another field but it will not be cheap as Tilapia sure. Smelling some deal at last moment with government as president assured as per AC.

Det kan du selvsagt si, du gjengir jo bare det jeg sier på en mer krass måte. Vi er jo på mange måter enige, så jeg skjønner ikke helt om du stiller et spørsmål nå? Jeg solgte meg for ordens skyld ut av Zenith ifjor, glad for det. Det er ikke bra at ledelsen kjører private placement kontra enn emisjon som omfavner alle aksjonærene, de har hatt mer en nok tid til det. De har for ordent skyld aldri kjørt en inkluderende emisjon noe som bryter likebehandlingsprinsippene børsen oppererer med, i så måte tror jeg at det er godt belegg for å hevde at dette er et av de minst aksjonærvennlige selskapene jeg kjenner til.

3 large hidden volume around 0.0675 to 0.0680...........about 15 million shares to buy
expecting large selling pressure

Hi viking hope you are correct about news will come.
I already have 15.0 m Zenith stock now.
Will not buy more.🏦💵

don't buy and sell .

There is 90 days target to complete Benin PSC so expecting news about mid April or before from Benin. Also Yemen will not take much time like Congo as 9 month deadline is there to complete the deal but with the speed its happening in Yemen we will receive confirmation before summer. expecting same with Congo too with other field within May we will receive news as parliament approve 30 field in last August.

From ACs interview it’s clear that Yemen and Benin are close to be accomplished. Glad we’re not doing Tilapia, Yemen will produce 2000 barrels of oil per day to zenith exclusively and he said will double in production after a year.

Geologist also write in December S2 field is worth $100million. we got 3 field in 21 million.

😮hey don't say banana republic,I m preparing my application for the next election in banana republic, damn I mean just replace.
Who knows, I mey wine, everything is possible this days.😊🤭

As many of you know I am fond of writing up a transcript of any Zenith interviews in order that I can quickly refer to what has been said in the future and do not miss any key point that are made. I have now done this with today’s interview (it takes a while).

These are the key points IMO

1) The company is still negotiating for new assets in Congo. The are not pursuing the SNPC debt at the moment because they hope to use this money as leverage in these agreements.

I am not sure how I feel about this tbh. I think that Zenith have been completely screwed over by the Congolese with Tilapia and at the moment I would be happier just to leave the country and sue them for the cash. But I guess if we get a good asset then that might be better. However, I definitely reserve judgement on this one.


2) SMP money – company is confident in a good result and are claiming $9 million. The court case is advanced.

3) Yemen is a huge assets (as I have been saying) that would have cost $100+ million if it was in a safer jurisdiction as opposed to the $21 million that is the price in Yemen. If we get the asset it would immediately produce 2,000 bopd net to Zenith with the potential of this doubling as OMV have not drilled any new wells for 10 years.. We would use our own rig to drill there.

4) Benin became attractive because of then CNPC building a terminal just 3kn away from the Seme field. They are able to bring in lots of offshore technical expertise and equipment for neighbouring Nigeria.

5) The intend to appoint one Norwegian and one Brit to the board. One will be a woman.

6) They are going to try and acquire new gas licenses in Italy. The field revamp is awaiting various governmental approvals.

7) The fundraising had been strategically planned for before the financial year end. They were pleased that existing institutional investors re-invested and think that this shows the potential of the company especially from the current share price.

8) They have learned the lesson from Tilapia and intend to always have several acquisitions on the go aiming for an overall success rate of 50-60%. They (and we) have to accept that not all deals will be successfully completed but they will keep bringing new ones to the table.

Transcript to follow
The company recently announced some disappointing news on the Tilapia license in the Republic of Congo. Could you provide an overview of what happened there?

I am please to do this clarification because the damage that this news brought to the stock price has been quite large and our feelings inside the company is that this is one of the possibilities when you deal in emerging markets – their perception and way of doing thing. This is something that has been badly received by investors as Tilapia was an asset we inherited from AAOG in a deal that we made very cheaply £200,000 which it cost us to take the license (which ran for a few months) the credit owed by SNPC and the legal case against SMP. It was a very good deal that let us enter into Congo where we still think we have a future. We will be much more cautious in future about announcing deals before they have the final seal of the Parliament but we are still there and we are still in negotiations and the government understands what has happened to us because of the choice taken to give it (Tilapia) to someone else. The reasons that this happened are mysterious and are the secrets of the country’s internal cuisine (??). Ourselves we are proud to have done the maximum. I stayed in the country for two months and negotiated with great effort and we will have other opportunities. I insist that shareholders understand that I got the guarantees that I presented to shareholders from the highest level in the country. I did not misinform, I did not misrepresent, I got it from the top of the country and then I told it to the shareholders. They then let us down but we are going on in the country with patience and understanding that this is the environment.


What is the plan for the recovery of funds from the SNPC and the SMP. How much would this come to and do you think that there is a realistic chance of receiving this?

The credit from the SNPC (the national oil company of the country) has the advantage of being part of the state so they can never go bust and this money is certainly recoverable. How and when is the question. Because we are continuing negotiating additional fields in Congo our negotiations will be diplomatic and firm but polite because we can have the use of this credit for other purposes while gaining new licenses. It is a completely different story with the SMP which is a commercial relationship with a company that badly performed for our predecessor AAOG and caused to them tremendous damage. We should remember that AAOG PLC shareholders invested more than £28 million in this venture and so we are firm to recover this wrongdoing which now amounts to $9 million American dollars. The court case is very advanced over four years and so we are convinced that something good will come out of the decision of the Paris court. Paris is aiming to become an international court system and so their equality towards even a French defender such as Bordeaux company SMP is, in my opinion, assured.

So lets move on and talk about your latest exciting opportunities for acquisitions in Yemen and Benin

I was very distressed that people selling their shares because of Tilapia did not consider the importance of the Yemen and Benin cases. Analysing them, Yemen is indeed a complicated country in terms of politics at the moment. Hence the difficulty of getting the final approval (of the asset acquisition) swiftly. This is still in the course of being obtained, but we should remember that Yemen would be the biggest producer in the company with more than 2,000 barrels per day net to Zenith. With our drilling rig transported there then we will have the ability to increase production possibly two times. OMV for various strategic decisions has not drilled a well there for the last ten years so our arrival with our ZEN260 deep drilling rig would permit the development of this production. Then of course, a field like the Yemen one in Nigeria or Egypt, a territory that is less controversial, would have cost Zenith more than $100 million to buy. Our plan is to buy a license that is highly producing but in a controversial country so that the price is greatly reduced.

The case of Benin is different. We have a long-standing relationship with CNPC who we bought some properties from in North Africa (Tunisia) and CNPC is now the cause of the Benin’s reconversion to oil. The new CNPC pipeline that is coming from Niger and running through the whole of Benin to arrive in a place that is 3km away from the base of Seme 1. When we learned that in Feb/March 2022 we recontacted our partners in the region, visited the government and participated in the tender which we announced in April. We then became the exclusivity holder for the period necessary to complete the PSA. This is what we are doing at the moment. We are also bringing in technical partners who we are forging a relationship with because this is only our second offshore experience. We have gone for shallow waters and there are these advantages: there is a terminal for oil 3km away; a flow of ships going in and out toward China and other places; there is also great technical competence available from Nigeria because Nigeria, which is near the border with Benin has a terrible petroleum crisis and so lots of activity is suspended: (a) for the elections and (b) because the amount of theft from local pipelines by gangsters have increased to 12% of national production. So there is a stalled situation in Nigeria. A lot of equipment is not used and a lot of technicians are not working, so they are available for our Benin operation.

With your development plans in place tell us a bit about your management team and the board that you have in place.

The management team continues to grow as any time that me make an acquisition, for example Yemen or Benin, we will acquire a lot of managers from the previous company that we have taken over. In Benin it will be more interesting as it is a country that is not at the moment producing oil so we are bringing in additional technicians that we are associated with who are familiar with these kind of platforms and have the ability to manage all the security and processes of offshore.

With respect to the board of Zenith at the moment it does not contain any women so for good governance we are looking for a lady to appoint to our board to, in due course, have the right percentages between genders. This will possibly include somebody from Norway which is our biggest market in terms of volume and somebody from London. So we are looking for two additional candidates.

You announced in December plans to develop Zenith’s Italian gas production portfolio. Tell us about the developments here

We should first have a resume of what has happened in our gas activity in the last ten years. Zenith purchased from Meditraaneo oil and gas, then a PLC in London, all of the activity onshore and then we started producing. The last ten years before Dec 2020 were satisfactory but not very exciting because the price of gas was very low. There was a tremendous amount of gas in Canada and the USA which they could not easily export because gas is not easy to transport across oceans. And Europe was supplied by Russian gas. Then the resumption of consumption of gas and electricity after covid brought a good rise in the price which made us very profitable. Then the Russian Ukrainian invasion made the gas price skyrocket to $300 so that made our Italian operations very exciting and making a fantastic profit because the operational margins are enormous and the operational costs are low. So we obviously immediately put in motion the activity to revamp additional fields and to purchase additional fields. The revamping, as announced, is already in progress. The only thing is that in Italy there are a variety of local and regional and provincial and governmental steps before opening the wellheads. This is the only reason for the delay but we hope that this will happen soon.

The government, who sees that we are only producing in Italy 10% of the gas the we produced 10 years ago is, of course, trying to shortcut the process and to make it easier to produce gas but these changes in an environmentally conscious country like Italy are not very quick to happen. Nevertheless we believe that the price of gas going down and the supertax for extra profits on hydrocarbons having been levied in Italy at the end of 2022 and charged this month to foreign operators means that a variety of foreign operators may rethink their enthusiastic approach to gas production in Italy and so we will have more opportunities to buy gas assets there. We have been in Italy for 10 years and we plan to stay long into the future and so we may acquire other fields and steadily make a nice income and a nice net revenue.

Andrea tell us also about the fundraising that you have recently completed.

We have strategically planned for a while to do something before the end of our financial year which is 31st March 2023. It is sad that this period of lower share price came but we carried out the exercise and it was comforting to see that two institutions that were already in our shareholder list have continued to invest. The one most known to our shareholders is the fund Premier Miton and this showed the confidence and even the additional attraction that the lower share price has given to these long-term investors for investing in Zenith.


What can we expect to hear next from Zenith?

Our policy has adapted with the case of assets like Tilapia because of two factors. One, the great mortality of deals as governments change and ministers change and an agreement that you have made with one individual is not followed by their successor. So there is a variety of casualties that happen. Investors often remain very puzzled by this but it is statistical and it is constant and little Zenith will not change this by ourselves. It is a worldwide trend of governments.

The cure for this is to have many many transactions (in play at any one time) so that a proportion of them, say 50-60%, will end up being completed. This means that the newsflow for Zenith will be to bring additional opportunities to our portfolio which may take time to be completed but in the meantime I will assure our investors that we will always have a sound portfolio supporting our share price.

Thank you very much, MGS.

Your time and effort is highly appreciated.

to buy 20 million around 0.0675 to 0.0682 and sell order 5 million upto 0.07
0.0682 - 5T 2 million to buy
one leak from Yemen ....price could climb kr 0.2 in minutes.

Jeg hørte på interjuvet ...Jeg syntes ikke Don AC virket komfortabel ...
Hadde journalisten blitt nektet å stille spørsmål om Tunisia ?

>> great mortality of deals as governments change and ministers change <<
Congo & Tunisia i ett nøtteskall ???

<< changes in an environmentally conscious country like Italy are not very quick to happen. >>
Kjedelig men parkert inntil vidre ..... med mindre regjeringen i Roma skjærer igjenom ....

Don AC ... say 50-60%, will end up being completed.
Ikke ulikt roulette

fylla12.

Dette var vel ingen "journalist"..? Var det ikke mer en presentasjon for oppdatering av diverse?

Jeg oppfatter dette som pressekonferanse..

Og ikke minst han antyder at utsyr og arbeidskraft skal komme fra Tunisia , hvis de får Benin, etter som det var lite å gjøre i Tunisia. Sånn ca 8:43 uti intervjuet

Oppfattet heller dette som en samtale.

På de aller fleste områdene besvarte AC fornuftig og bra. Eneste er vel det flere påpeker, bekreftende besvarelse av usikkerheten som er oppstått i Tunisia.

Suksessrate på halvparten eller litt over høres fornuftig ut og kan oppfylles med Jemen og Benin. Zenith er et selskap med begrenset erfaring og kompetanse innenfor oljeutvinning. Krever litt tid for å bygge disse elementene.

Stiller bedre likviditetsmessig i dag i forhold til i går, positivt.
AC ønsker å utvide styre og forhåpentligvis blir de nye med stor ballast fra lignende styrearbeid, positivt.
Teknisk er det tilstrekkelig med god kompetanse fra nabolandet i forbindelse med Benin og overtakelse av selskapet i Jemen, positivt.
Virker som Zenith tar et løft på flere områder den nærmeste fremtid og dermed er bedre rigget for nye muligheter som vil oppstå. Er lenge siden AC snakket om at større operatører vil trekke seg ut fra flere geografiske områder og hvis Zenith lykkes med virksomhetsoverdragelse i Jemen vil dette muligens gi større suksessrate senere og god kontantstrøm.

For meg virket hele intervjuet iscenesatt, men henne som hans sekretær. Nøye planlagt og regisert på forhånd. Bare en følelse, og hvorfor ha dette" intervjuet" istedenfor en ordentlig melding til aksjonærene? Enten blir vi lurt trill rundt, eller så er det noe på gang. Time will show..

Denne er iscene satt av AC selv
https://www.brrmedia.co.uk/broadcasts-embed/63fce1e93f4b98530b612ecf/zenith-energy-company-update/?popup=true

Folk ville jo ha av på banen?

Tilliten ble på ingen måte bedre etter dette "TV-stuntet". Dette hadde vært bedre om Finansavisen hadde gjort et sånt intervju, ikke at det kommer til å skje, men da hadde det vært en nøytral "debattant" :-) om dere skjønner...Negativ stemning på meg nå,men etter snart 3 år begynner timeglasset å bli tomt for sand.

Dagens forestilling forsterker usikkerheten rundt Zenith sin aktivitet i Tunisia.

Don AC ville ha sluppet alt han hadde hatt i hendene og varslet børsen
umiddelbart hvis SLK lisensen hadde hvert fornyet idag ...
Tilsvarende om Zenith sin andel i Ezzouia hadde blitt formelt godkjent ....

Det var heller ingen info om annen liten melkeku .....
Evner Zenith å få opp strømproduksjonen før neste vinter ?

Ingen vet om neste vinter blir hard men vinter betyr økte
priser på strøm og klingende mynt i kassa for de som lager strøm ...

I har ret, det er bestilt og betalt af firmaet -

Udgiveren er www.brrmedia.co.uk

Og som de selv skriver > Every client has a story to tell <

Aqualight 🇩🇰🇳🇴

ZENA begynner å likne på andre tidlugere oljemygger dom Canago, er det ikke like greit å selge nå og invester på nytt i andre aksjer som leverer en positiv avkastning?

Den som kunne vite det, for det er noe med denne aksjen som fengsler, tenk om, dersom, når og hvor mye den kan stige på kort tid. Man blir jo redd for å gå glipp av noe, så avveiningen om å selge seg ut eller bli sittende er det store spørsmålet fremover i og med at kursen har "krasjet" litt og fremtiden er egentlig litt "tåkelagt"...AC og selskapet har jo ikke verdens beste fortid, og med den friskt i minnet, så kan dette minne litt om gamle dager, selv om bildet er bedre enn på lenge med tanke på inntekter. Personlig er det uaktuelt å selge for min del, tapet er for stort, og tiden fremover kan gi oss tilbake pengene med en solid gevinst(eller at tapet blir større og større...).

OMV fortsetter salgsprosessen i Asia også.

https://www.omv.com/en/news/230227-omv-decides-to-initiate-sales-process-to-divest-its-e-p-assets-in-the-asia-pacific-region

elnomi ...
>> er det ikke like greit å selge nå og invester på nytt i andre aksjer som leverer en positiv avkastning? <<

Det er ingen garanti for en positiv avkastning i en annen aksje ....
Måndtlig kapitalisering på innskudd i bank er det nærmeste ...

Har du 2 mil i Kraftbank.no & Mybank.no så blir det noen ekstra kroner hver måned ...

Det ligger muligheter i Zenith men en må akseptere en sky høy risiko
Congo eventyret er ett godt eksempel på det ...

OMV er en seriøs gigant som kommer til å sørge for at Yemen/ Zena lander som planlagt. Noe annet ville overraske meg. De har kjørt prosessen i dialog med myndighetene og alle retnigslinjer. OMV Yemen ansatte blir overført til Zena. Det er bare å selge om en tror at OMV dealen er fake. Som AC sa i intervjuet . Dette kjøpet ville kostet 100 mill dollar over 1 milliard NOK andre steder. Zena fikk det for 200 mill NOK. Hvor ca.20 % av kjøpe summen allerede er deponert

Zenith er ikke annet enn sirkus. Kanskje det ender bra.

Du minner om en som solgte skinnet før bjørnen var skutt.

Look like there will be serious negativity going to Zenith with particular handles. They will not present any facts or numbers but only talk negative in air.
I don't know why these people spending there time if they don't have any interest. Everyone knows the risk in Euronext shares as they are here in market.
Zenith and Benin is gamble if final approval got its rocket towards kr0.5 if not share will be kr 0.1 with Tunisia and Italy. EBB-3 and ROB-3 can take oil output to 800 bopd more than current production excluding SLK and EZZ. Current Oil inventory is capable of rid of all bondholder debt.

https://www.mercatoelettrico.org/En/Statistiche/ME/DatiSintesi.aspx
Italy electricity production
Zenith earn profit of €125.000 for month of Jan
Zenith earn profit of €130.000 for month of Feb

De fleste forstår nok at Yemen og Benin blir annonsert som done deals snart. På fredag førstkommende og "god weekend".....