I feel like I've become a masochist by holding on to my shares in this company. Could probably have doubled my shares by selling on bad news and buying in lower. Since all bad news drives the share price down for weeks, while good news don't drive it up, it just might drive it up 3-9 months in the future. Definitely learned a lesson here when it comes to investing in stocks like this... Let's hope they don't botch this new Kazakhstan venture and we can recover our losses before EOY..

Ny melding! Fra Kazakstahn. Hadde på følelsen at det kunne komme noe fortløpende etter meldingen fra Yemen.
https://newsweb.oslobors.no/message/598696
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MOU and Exclusivity for oil production asset in Kazakhstan
September 4, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

MOU and Exclusivity for oil production asset in Kazakhstan

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production and development company, is pleased to announce that it has signed an MOU (the “MOU”) with a company incorporated in Kazakhstan (the “Seller”) giving the Company a period of exclusivity for a duration of ninety days to evaluate a potential acquisition.

The Seller holds a 100% interest in an oil production asset located in the Atyrau Region of Kazakhstan (the “Potential Acquisition”).

The Potential Acquisition formerly produced at a rate of approximately 600 barrels of oil per day prior to the onset of the COVID-19 pandemic. Production is currently suspended.

The purpose of the MOU is to formalise a framework whereby Zenith’s interest in the Potential Acquisition may be completed subject to the completion of a rigorous technical and financial due diligence.

According to the terms of the MOU, commercial terms for the Potential Acquisition, if agreed between the parties, are to be formalised by way of a share purchase agreement on or before November 30, 2023.

The 2P (proven and probable) reserves of the Potential Acquisition have been quantified in the amount of approximately 4 million barrels of oil. This evaluation has not been performed in accordance with Canadian securities laws, specifically the COGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities.

Andrea Cattaneo, Chief Executive Officer, commented:

“The Potential Acquisition in Kazakhstan represents an exciting opportunity for Zenith to potentially acquire an asset with significant revenue generation potential in a new jurisdiction, widely regarded as favourable for junior energy production and development companies.

Our management team is now concentrated on completing a comprehensive technical, financial, and legal due diligence with the objective of potentially formalising a deal on or before November 30, 2023.

The Potential Acquisition is expected to complement our business development activities in the USA, which are advancing at pace, and evidence our consistent strategic focus on production and development opportunities in stable jurisdictions.

It is important to underline that we have no plans to issue equity to fund the Potential Acquisition, or its immediate development in the event a transaction is successfully completed.

We look forward to providing further updates about the Potential Acquisition and other business development activities in due course.”


Further Information:

Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer

Tel: +1 (587) 315 1279

Bare vasket ut noen skjælvere,over 5 øre igjen pt👍

The biggest problem that Zenith have faced in the recent past is not the attempted acquisition of large assets that have not gone through, which can legitimately be accused of being the fault of the company. It is instead the fact that the Tunisian government reneged on the contracted agreements that the company had in place in Tunisia, and this issue cannot be blamed on management.

At the beginning of 2022 the company had a very sensible strategy in place that was to generate revenue from the small-scale Tunisian assets and then use this revenue to acquire much larger and riskier but potentially company-making assets in Africa. Even with the relative failure to increase production in Tunisia these assets were delivering (in terms of production numbers) approximately $13 million per annum in revenue to Zenith. This was more than enough to fund the acquisition and development of marginal fields in Africa that were being divested by the majors.

When the Tunisian government broke their contracted agreements and stopped letting Zenith sell any of the oil that they were producing this instantly destroyed the company strategy and has probably put the company back about 18 months to 2 years in it’s development. The lack of revenue from these assets meant that it has become much more difficult to acquire and fund the development of African licenses and forced the company to go for more risky jurisdictions such as Yemen and South Sudan.

In the long-term this may well end up being beneficial to the company as they are taking Tunisia to arbitration for approx. $60 million in damages, but this is going to take time to go through the arbitration process and in the meantime the company have to reinvent themselves. They are doing this in a sensible way by replacing the Tunisian assets with American ones and if they can get the same 500-600 bopd production in the US that they had in Tunisia then they will be in the same financial position as before, but in a much safer jurisdiction. Zenith’s $4 million deposit can be put to much quicker and more practical use in the US than it can by being tied up for a further 9 months in the Yemen deal.

Once the American production has been acquired and put in place, then the company will return to the position that it was in H1 2022 and can look at acquiring African assets in less risky jurisdictions that it has had to look at over the last year. Once again, the strategy will be the same as before – use the revenue from the US assets to fund the acquisition of higher risk, higher reward assets that can potentially be company-changing in Africa. The reliability of the US jurisdiction and therefore income will also allow the company to expand operations in other territories in a way that is not possible without reliable cash-flow.

In short, the company has been knocked back 1-2 years in development by Tunisia, but the strategy itself is not wrong and the new focus on America addresses the problems that have occurred before. It is disappointing for those of us who have been invested for some time but unlike many on here I do not think that the company is going down from this point. I actually think that with the $4 million spent wisely in the US our fortunes are going to go up in the near term.

Markedet må jo sitte igjen med inntrykket av at dette selskapet vingler fælt og at det ikke forstår hvor små de er. Det virker som de tar altfor lett på DD når de inngår sine avtaler, og at de tar svært stor risiko ved valg av land. Benin var et utslag av at de overvurderte seg selv. Her føler jeg meg overbevist over at de ikke ville fått noen suksess. De må lære seg å krabbe før de kan gå.

Tror de har valgt en riktig strategi nå, men alt dette rotet har betydd tapte penger og tid.

Ja, det må mange som selger med under 10 mill i omsetning, full panikk, huff huff

Ja, 4 tallet var jo uunngåelig med gårsdagens melding så får tiden vise hva som kommer ut av kontinent skiftet fra Afrika til Amerika - det vil nok kunne ta sin tid, både det og fasiten på erstatningskravene - lottokupongen min ble i alle fall innløst med en liten minus - hele hemmeligheten ligger i å kunne ta tap så raskt som mulig og ikke vente like lenge som Kalle for da blir man hengende her inne og baisse til man blir blå - lykke til alle dere som fortsatt har trua...;)

under 5 øre om lidt ?

huhej hvor det går

Ja, ukens dårligste, månedens dårligste og årets dårligste, og for tre år siden var vi også her...bunnen er ikke kommet ennå..så til alle som er positive, når skal dere våkne og ta innover dere dette svindelforsøket.. tap og vinn med samme sinn heter et ordtak, men dette blir for dumt!

Kan jo fortsatt bli ukens aksje ...;)

Ham som proklamerede “køb ugens aktie” til sine disciple for nogle uger siden må sidde med en dårlig smag i munden, de stakler som købte har jo været på en ustoppelig nedtur lige siden (sammen med os andre).

Men hva faen måske der snart kommer en Zenith app på markedet🤣🤣🤣🤣

Hadde de fått lov til å prøve seg i Tunisia tror jeg det ville vært en riktig asset for et lite selskap i vekst. De fikk de jo ikke. At man prøver å få til noe i land med borgerkrig på altfor store assets skjønner jeg ikke noe av.

https://live.euronext.com/en/listview/company-press-release/153398#CompanyPressRelease-12129543

Zenith var vel ok for Tunisia, men der stoppet jo også alt opp.

Ja, Yemen var for stort for Zenith, dette er kjent fra og med jan/feb av olje minister. Zenith er vell ikke for små for Sør Sudan?

Yemen var altfor stort fr Zenith, og det er brutt ut krig i landet. Sør Sudan er akkurat samme konklusjon i mine øyne.

Multibruker? Bruk 5 min så skjønner dere hvem.

Største scammen på ose, har vel vært åpenbart veldig lenge!Har vel vært "hundrevis " av røde lys.Alle liksomavtalene går i dass i siste sekund😂

Støre ble en gang kalt "tåkefyrsten", enkelt forklart er det en person som er bevisst uklar, tåkete i ordleggingen og bruker svevende talemåter. Dette er en god karakteristikk av AC og resten av selskapet. AC har nå herved overtatt tronen som den nye store tåkefyrsten. Det prates i hytt og vær og bruken av store velformulerende ord gjør at vi hver gang går på limpinnen, og hver gang lyser det et håp i våre øyne, MEN NEI, nok en gang skjer det uforutsatte ting som vi ikke kunne forutse! Men USA vrien han har kommet med er nok rett og slett fordi han har innsett at vi (selskapet) har ingenting å hente i korrupte og krigsherjede land, men tør ikke komme med det helt ennå..

Så blev Yemen heller ikke til noget som jeg regnede med. Sydsudan bliver heller ikke til noget.
Alle fuglene på taget er fløjet.
Endnu et kursfald i dag ?

Bare rolig folkens om et par dage toner fader AC nok frem på skærmen i endnu et “interview” hvor han forklarer hvor fantastisk det går og der vil blive lavet store værdier for aktionærene snarligt

Well, that is an interesting RNS. It is disappointing because the oil production assets in Yemen had the potential to be huge and completely game-changing for Zenith. However, with the conflict in the country it was probably going to be at least a year before any significant development on the sites would be possible.

In order to answer whether the termination of the SPA is good news on bad news for the company we have to decide for ourselves whether Zenith would be better to have their share of the $4 million deposit could be better spent in increasing the share price in other areas over the course of the next year as opposed to being tied up in the Yemen deal.

Personally, I am slightly unsure. I always said that the Yemen deal was potentially the best deal that Zenith had on the table and I am disappointed that we have lost it as, if everything had played out the way we wanted it would have been worth about $30 million per annum in revenue to Zenith. However, it would also have cost $21 million just to complete the deal and then probably another $10 million in investment. Also, given the current state of the conflict the assets could be locked in limbo for another two years. Over the long term the deal would definitely have been hugely profitable once the oil-fields reopened, but could Zenith afford to be tied up in this deal for so long? Maybe, maybe not.

The plus side of the termination is that it frees up time and capital for Zenith to invest in their new US assets where problems such as this will not be an issue. If the money is sensibly invested in these and the company can start showing significant production form these assets then it would definitely be a better investment over the immediate future, and that is probably what Zenith really need to be concentrating on at the moment.

Is it a coincidence that this agreement has been terminated so shortly after the CYAP acquisition has been announced? I think not. The deal clearly had hurdles in front of it and the company has clearly taken a slightly new direction since it was initially announced. But Zenith do need to start acquiring some assets in the US pretty fast. If this money is put towards profitable US acquisitions then it could definitely be a good thing.


I also don’t think that this deal will be off the table forever. It has the feeling to me that Zenith are the ones who have pushed the decision to abandon the deal and it could therefore be resurrected in the future when the company are in a better financial position perhaps after (if) they win the Tunisian court case. I have no evidence for this, it is just a hunch.

Retten her er i Washington ang denne saken, det er saken mot boreselskapet som boret tilapia for aaog som er i retten i paris.

Exactly. He doesn’t seem to understand that the court control the money and the court is in France. If we win it’s not a matter of begging Congo or Tunisia for the money. The money will be held by the French courts and transferred over to Zenith with no issues. Then the price will multiply almost immediately and then todays price will be long forgotten.

Kalle multinick - du er avslørt, tatt med buksene nede og latterliggjort mang en gang noe som egentlig er trist for det er ingen forunt å tape pengene sine verken på børs eller andre plasser for den saks skyld, men valget med å ta tap var faktisk ditt eget for verken IOX eller Zenith er konkurs så tapet måtte ikke tas av den grunn. Selvfølgelig surt å tape uansett grunn, men da går man videre. Gjør man ikke det så beror det som oftest på 1 av 2 bakenforliggende årsaker - enten er du blakk og ønsker å og straffe selskapet og andre aksjonærer ved å spy ut eder og galle dag ut og dag inn, eller du har noe lommerusk igjen som du ønsker å gå inn med på lavest mulig kurs noe du virker å ha innbilt deg selv om at du kan baisse deg til og noe du har prøvd non-stop i 3,5 uker med dette nicket både her og på IOX trådene....

Nr 1 ville i så fall være helt bortkastet for verden med både IOX og Zenith går videre helt uberørt av hva du enn måtte finne på og mene.

Nr 2 kan jo til en viss grad være forståelig selv om baissingen ikke bidrar til annet enn støy, men en ny inngang her nede vil med litt tålmodighet mest sannsynlig kunne forvandle lommerusket til en anselig sum så i så måte burde valget være enkelt ...;)

Fortsatt god helg!

Såså kalle, som nevnt tidligere så er det viktig og få fakta på bordet om det er negativt eller positivt, har du glemt at det allerede har blitt fryst ca 70 mill av pengene av en domstol? Disse pengene kam bli hentet direkte ut av domstolen og gitt til zenith ved en eventuell dom. Forstår du ønsker aksjekursen så lavt som mulig men viktig og holde deg til fakta😉 personlig tror jeg ikke aksjekursen faller imorgen, hvertfall ikke nevneverdig. Da pengene vi får igjen kan brukes til og finansiere usa oppkjøpene/ boring. Vil anta zenith får hvertfall 20mill tilbake nå.

Did you not read my post? Money will be held by the French courts, they will get the money from parties owed. Either way why does it bother you when you’re not even invested? Something is not adding up here.

If we win???? Jeg sier ikke at Zenith ikke vinner, men jeg sier at det bare ikke er å hente 500mill fra et korrupt afrikansk land.

Så får hver og en gjøre seg opp en mening selv.

Historien til Zenith er også krysstall klar, no bird in hand. Så at Zenith lander Sør Sudan skjer ikke

Det er bare å vente på neste RNS der det står Termination of a SPA.....

Og ingen ting er heller avklart i US enda, men 20 bøtter i en fiskedam får dei sikkert kjøp og vil tro zenith er store nok for disse bøttene

Ganske sikker på at ZENA får 0 kr i erstatning.
Nei, ville heller satset på IOX som nå få kraftig økende produksjon!

Det er vel nesten 2 øre pr aksje.
Tunisia med 500 m kr er vel 20 øre pr aksje.
TLp 2 i Kongo skal vel også gi 6-7 øre .
Dette ser veldig bra ut - men yemen var vel egentlig verd 100 mil us men det var nok mange men men siden de solgte den for 4 mil us .
Tror meir på å få se 6 tallet kontra 4 tallet mandag . Da er det ikke mye som kan gi russiske prosenter men en veldig stor oppside i alle erstatninger .

kanon bra nyheter....ca.45 millioner tilbake

South Sudan is still on the cards, I believe we will get that asset. I will send the zenith company an email and see what they say in regards to South Sudan. If we get that with usa production will be a huge game changer for the share price.

Som Benin-nyheten, det her..
Veldig dumt kort sikt (ville løftet kursen russiske prosenter). Bra på lang sikt. Feltet s2 har bare ila. siste dagene blitt frigjort fra rebellene..

Det som gjelder nå er første milepæl på 500boed! Så 1000boed. Ikke gullkalver og fugler på taket!