Olje og energi

13.01.2022 kl 16:52 2747

Again AC should conduct IC and give information about last 2 issues and loans taken by Zenith because there is no work done on ground or come to shareholders notice as stated.

RNS dated 02/11/2021 - raised £3 million.
• £1,300,000 – funding of Zenith’s share of work programme costs in respect of the Ezzaouia concession onshore Tunisia. This will include the drilling of two sidetracks in non-producing wells with the objective of achieving a gross production of 1,000 bopd from the Ezzaouia concession.
------- No update
• £600,000 – expected cost of drilling a new well in the Robbana concession, also onshore Tunisia, where Zenith holds a 100% working interest. Long-lead items required for drilling of two wells already acquired and on location.
----------- No update
• £300,000 – transportation expenses for Zenith’s 1,200hp drilling rig to Africa. --------No update
• £250,000 – Tilapia II licence, (located onshore Republic of the Congo), development costs, including finalisation of licence award process and employment of operational personnel to optimise the planned beginning of drilling operations in well TLP-103C.
------------- look like money sucking hole now no progress from last 1,5 year
• £150,000 – expenses associated with the preparation and publication of a UK Prospectus. --------No update
• £400,000 – general working capital. -------- salary travel- ok

RNS - 06/12/2021 - Loan of £2.55 million
The Company plans to use the funds derived from the Loan Agreement to finance certain potential near-term acquisitions in Tunisia and beyond, as well as to strengthen our working capital position. - No update

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