Zenith Energy * 4,000 barrels of oil per day* Q1 2022

ZENA 29.11.2021 kl 08:23 31552

Nå må folk kjøpe det de klarer!!!


November 29, 2021

("Zenith" or the "Company")

Option Agreement for OML 141 RSC in Nigeria

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA), the Africa
focused production and development energy company, is pleased to announce that
it has entered into an Option Agreement (the “Option”) with Noble Hill-Network
Limited ("NHNL"), a private Nigerian oil and gas company.

NHNL is the sole, 100% holder of a Risk Service Contract (“RSC”) for the
development of the North-West Corner of OML 141 in Nigeria, defined as the Risk
Service Contract Area (“RSCA”), which covers 105 square kilometres of the Niger
Delta region and contains the potentially highly productive Barracuda and Elepa
South oilfields, as well one prospective field with an estimated 232.7 million
barrels of discovered oil (Degeconek 2019 CPR).

Terms of the Option

The object of the Option is to provide Zenith with the opportunity to jointly
develop the RSCA of OML 141 with NHNL.

Plans have already been finalised to drill, test, and complete the Barracuda 5
well (“B-5”), which is situated between two previously drilled wells that have
both encountered significant hydrocarbons. In the event of a successful outcome,
production will commence immediately using a barge-mounted Early Production
Facility to initially transport the produced oil to a nearby floating storage
and offloading vessel for subsequent monetisation.

The Option gives Zenith the ability to purchase 42,000,000 (forty-two million)
ordinary shares of Naira 1.00 in NHNL that are available and unincumbered for
issue to Zenith, representing an interest of 42% (forty-two percent) in the
outstanding share capital of NHNL.

The consideration to exercise the Option and thereby acquire a 42% interest in
NHNL has been agreed as US$20,000,000 (twenty million United States Dollars)
(the “Consideration”), payable in 7 instalments over 270 days each of
US$3,000,000, except for the first and the last which will satisfy the remaining
Consideration payable.

NHNL will use the Consideration to fund the drilling of B-5. The Company has
been informed that the drilling location for B-5 has already been acquired by
NHNL and all necessary civil works (including dredging and clearing of the
designated well location) have been performed in preparation for the
mobilisation of a barge-mounted drilling rig.
A suitable and fully inspected drilling rig has been identified and a site visit
is planned in mid-December 2021, with the expectation of signing a drilling
contract in January 2022 to begin operations during the first quarter of 2022.
Production from the Barracuda oilfield is expected to begin during the second
quarter of 2022 at a rate of approximately 4,000 barrels of oil per day.

Further development and drilling activities are planned to follow the drilling
of B-5, with the locations for Barracuda wells 6,7 and 8 having already been
identified. In the event the Option was exercised, and Zenith thereby held 42%
of NHNL, it would only be required to fund its share of future development work.

The Option will expire on January 15, 2022.

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

“We are delighted to have signed an Option to acquire an exclusive material
interest in NHNL, the sole holder of the RSC for OML 141, containing the
Barracuda and Elepa South Oilfields, following our ongoing due diligence

The near-term drilling of B-5 is an opportunity for Zenith to rapidly achieve a
material progression in its development by exploiting the considerable
production potential of the Barracuda oilfield. We view the risk profile of
drilling B-5 as low to medium primarily, amongst other factors, due to the
strongly confirmed presence of hydrocarbons in nearby wells accessing the same

Further, it should be noted that the Option, and its potential exercise, are not
subject to external approvals or other bureaucratic procedures resulting in
delays, meaning that Zenith and NHNL can speedily progress in executing
operational activities.

We are confident in our ability to finance the Option by using multiple sources
of funding, specifically funding from pan-African financial institutions.

Finally, while this transaction would represent the largest single investment in
Zenith’s history, it will in no way divert attention away from our development
in Tunisia, and especially in the Republic of the Congo, where we expect to
finally achieve significant progress in due course.”

The information included in this announcement is defined as inside information
pursuant to MAR article 7 and is publicly disclosed in accordance with MAR
article 17 and section 5 -12 of the Norwegian Securities Trading Act. The
announcement is made by the contact person.

Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer Tel: +1 (587) 315 9031

E: info@zenithenergy.ca


Smart. Men kan den gå under 10 øre?
08.12.2021 kl 18:49 3903

Kan sikkert godt gå under 10.
Flere snakker om 200-300 % stigning ja helt op til 1000 % stigning.
Hvis det var så sikkert hvorfor ligger kursen så her hvor den gør ?
Fordi intet er sikkert og markedet tror ikke helt på det
08.12.2021 kl 19:56 3783

Helt rett, så da sier det seg selv att det blir fyr her når ting er sikkert.. og en ting er sikkert vi kommer til å vite mer i løpet av desember måneden !!!

Intensjoner, opsjoner, muligheter, potensielle, kanskje, viss, om, i tilfelle, ganske snart, rimelig sikkert.... In due course selvsagt.....
08.12.2021 kl 20:06 3776

Pass deg så du ikke trør på raken og får den fleisen.

AGEOS har nettopp forklart dette glimrende på forumet på LSE

..."it's not the news announcement itself, it's the content of the news that triggers price growth. Although we have consistently produced positive bulletins over the last year nothing has been seen as a game changer. Also, more importantly, if you take into account the shares added to our balance sheet, from 900,000 this time last year to what will be on the 10th December 1764m. That's virtually double what it was. In terms of price, we would have been nearer to 2p but for the devaluation. More to the point we would have been nearer to 5p if Covid hadn't crashed the price and Tom Winnifrith hadn't destroyed the companies credibility, making it harder to recover and more costly to place more shares. The company has done nothing wrong, circumstances have limited the companies ability to put into action key elements of the foundation that you now see before us. AC has in my view done an incredible job in getting the company back on it's feet. Most of that list of future events in my previous post would not have existed but for the CEO's own personal endeavours. You are seeing this all wrong, you see this as the end game, this is just the beginning."

"Things to look forward to -

KUFPEC agreement.
New Tunisian concession.
Rob-3 workover
Ezzauia workover, side tracks and new wells.
El Bibane.
SLK Workovers."
Redigert 08.12.2021 kl 20:12 Du må logge inn for å svare

Samtidig har nettopp Covid, lav oljepris og andre selskapers endringer av strategi gitt fordeler til Zenith. Får vi nå endelig bekreftede avtaler på plass tror jeg Zenith-aksjonærer rent pengemessig vil oppleve en langt lysere tilværelse. Det var dette lysglimtet på omtrent samme tid i fjor som gjorde at vi glemte hele mørketiden.

Covid? Hvorfor det??

På grunn av karanteneregler, flere reisedøgn og større omkostninger ser ikke større selskaper det alltid som økonomisk fornuftig å holde på det som for de er mindre felt. Så har vi AC som har trosset farene og tilbragt mye tid i land hvor personlige forhold trolig ikke skal undervurderes. Dette vil jeg tro er litt av grunnen til at vi av og til ikke helt klarer å forstå hvordan denne italieneren drar i land de avtaler han gjør.
09.12.2021 kl 08:51 3395

From IC in Nov 2021 -
"Ezzaouia is managed with the government which means that it is more bureaucratic and will take much more time to get a drilling program together but the new government is keen to increase the country’s oil production and we hope to get things going soon. Our plan is to do two sidetracks in Ezzaouia and our plan to do 3 workovers can get accepted in the next two weeks and then be communicated to the market. We have kept the rig that did the Robanna workover in the area and if the decision is made in December then we can start the first side-track in January."
Expecting decision within days and workover next month. Expecting double the production.
09.12.2021 kl 10:47 3271

Meget bra! Håper på godmelding før jul og kjøpte ytterligere i dag.
09.12.2021 kl 10:54 3267

I am expecting News from Tunisia first within next Tuesday and SLK within 20th Dec. Nice someone will left early cheaply. Look like hidden volume at 0.1064 to buy. just sell whatever number you want at 0.1064.
Redigert 09.12.2021 kl 10:58 Du må logge inn for å svare

Kjøper noen lodd i denne
09.12.2021 kl 11:03 3296

Already crossed 20million in different account.
09.12.2021 kl 11:08 3302

confirm hidden volume for buying at 0.1064, Trap to buy cheap lower price by selling and put hidden volume, stressed share holder will sell cheaply.
Redigert 09.12.2021 kl 11:10 Du må logge inn for å svare
09.12.2021 kl 11:30 3282

Oiiii, Viking det var satsing. Jeg sitter i underkant av 15 mill totalt på forskjellige konti. Har tro på at dette er rette ekspresstoget i sitte i. Lykke til.
09.12.2021 kl 13:10 3157

With Nigeria and 3 Billion Shares my calculation gives me kr 1.10 to kr 3.3 valuation range and with current share numbers kr1.84 to kr5.52. All are proven field with zenith. Here is just waiting game and now only wait until 4 to 6 month for production start from Nigeria and Tunisia Production to double up to 1300 bopd. Before 15th Jan price will double at any time.
Redigert 09.12.2021 kl 13:18 Du må logge inn for å svare
09.12.2021 kl 13:32 3100

Kr. 1,10 til kr. 3, 30 tar jeg når som helst! Hadde vært sykt om det skjedde med det antall aksjer som vi har.


let's pull them out -

@Herbius - skal vi tage en runde mere?

Aqualight 🇩🇰🇳🇴
09.12.2021 kl 23:24 2721

"rette ekspresstoget i sitte i".

Det har jo bare rygget hittil i år. Men farten har jo ikke vært så dårlig. Men feil vei.

Det hadde vært knall det, men skjer neppe.

Savner litt edruelighet i denne tråden, blir for mye fantasi og mange får forhåpninger om drømmekurser. Så lenge zena må finansiere ved hjelp av å trykke opp flere aksjer beveger kursen seg neppe. Så tror ting vil ta mye lenger tid enn først antatt.
10.12.2021 kl 09:50 2609

There is no imagination its valuation based on 2P reserve, number of shares and debt. Here many just ignore available information. All discussing possibilities based on facts and not dreams. Again Valuation (based on assets) and share price (based on market conditions) two different things very few times small companies corelate these two numbers but at the time of merger or acquisition its mostly based on valuation.
10.12.2021 kl 14:21 2302

Last opp før helgen!!!


Jeg har en bønn om noen kan være så snille å selge meg noen billige papirer til 11 øre😊 sier bare på forhånd takk!

Ha ellers en fin helg alle sammen!
10.12.2021 kl 14:22 2304

Waiting for Tuesday.......................
10.12.2021 kl 14:30 2383

You are still putting your head of the chopping block :-)
10.12.2021 kl 14:56 2385

I am doing it after some info and timeline analysis, as predicted 4 things will be announced before 15Jan out of that 3 before 31st Dec.
10.12.2021 kl 15:05 2359

Gullit skrev Noe på gang??
Blir nok en svært god jul dette…
God helg så lenge!

@Nano Rekyl -

Tror du må stille dig i kø, vi andre skal også lige laste lidt mere..

Ellers enig, sælg også gerne til 11 - 12 øre, denne vej

Viden er og bliver mere værdifuld end at tro eller at gætte.

Aqualight 🇩🇰🇳🇴
10.12.2021 kl 15:36 2328

En flaske med Bollinger RD står klar hvis kursen går til himmels .

Det nermer seg nok et tidspunkt nå hvor det er lurt å sitte inne i denne før helgen.. Kan ligge flere triggende meldinger på mandag, men tilapia og slk er vel svært sannsynlig