Zenith Energy - Nytt oppkjĂžp i Tunisia 700 boe/d
Exclusivity Agreement for oil production asset, Tunisia
March 2, 2020
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Exclusivity Agreement for oil production asset, Tunisia
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it has signed an exclusivity agreement to acquire an operated working interest in an onshore oil production asset in Tunisia (the âAcquisitionâ).
Tunisia Highlights:
âą Daily national oil production of approximately 35,000 bopd
âą Safe, democratic jurisdiction
âą Fast monetisation of produced oil with favourable fiscal regime
âą Attractive domain for junior independent exploration and production companies
The Acquisition currently produces at a rate of approximately 700 barrels of oil per day, generating gross annual revenues of approximately US$15 million.
Zenith is advanced negotiations with an international oil major to sign an offtake agreement for the assetâs future oil production in order to fund the Acquisition. There are no plans to issue equity consideration to fund the Acquisition.
The Company intends to complete the Acquisition by March 31, 2020 subject to the satisfactory conclusion of currently ongoing due diligence activities.
Andrea Cattaneo, Chief Executive Officer, commented:
âIt is Zenithâs strategy to acquire revenue generating oil and gas production assets.
The Acquisition represents an attractive opportunity to enrich our asset portfolio in a country where management have significant experience.
We are currently performing due diligence and visiting the target asset with a view to completing the Acquisition by March 31, 2020.
It is important to underline that we have no plans to issue equity to fund the Acquisition or its immediate development following completion.â
March 2, 2020
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Exclusivity Agreement for oil production asset, Tunisia
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, is pleased to announce that it has signed an exclusivity agreement to acquire an operated working interest in an onshore oil production asset in Tunisia (the âAcquisitionâ).
Tunisia Highlights:
âą Daily national oil production of approximately 35,000 bopd
âą Safe, democratic jurisdiction
âą Fast monetisation of produced oil with favourable fiscal regime
âą Attractive domain for junior independent exploration and production companies
The Acquisition currently produces at a rate of approximately 700 barrels of oil per day, generating gross annual revenues of approximately US$15 million.
Zenith is advanced negotiations with an international oil major to sign an offtake agreement for the assetâs future oil production in order to fund the Acquisition. There are no plans to issue equity consideration to fund the Acquisition.
The Company intends to complete the Acquisition by March 31, 2020 subject to the satisfactory conclusion of currently ongoing due diligence activities.
Andrea Cattaneo, Chief Executive Officer, commented:
âIt is Zenithâs strategy to acquire revenue generating oil and gas production assets.
The Acquisition represents an attractive opportunity to enrich our asset portfolio in a country where management have significant experience.
We are currently performing due diligence and visiting the target asset with a view to completing the Acquisition by March 31, 2020.
It is important to underline that we have no plans to issue equity to fund the Acquisition or its immediate development following completion.â
Redigert 21.01.2021 kl 02:19
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Svartsyn
24.03.2020 kl 09:40
2617
For en gangs skyld en positiv melding.
20 % billigere en fĂžrste forhandling. Og enda viktigere ,ikke betaling med Zenith aksjer, Det ville vĂŠrt brutalt utvanning med dagens aksjekurs. Da er det mye bedre Ă„ betale med cash.
Glem dagens oljepris, den kan vĂŠre noe helt annet om 6 mnd.er.
En melding om godkjennelse av boretillatelse i Kongo.
Da manglet bare, utbetaling av tilgodehavende i Kongo og borestart neste.
Det er hÄp i hengende snÞre, fryktelig risk/potensiale.
20 % billigere en fĂžrste forhandling. Og enda viktigere ,ikke betaling med Zenith aksjer, Det ville vĂŠrt brutalt utvanning med dagens aksjekurs. Da er det mye bedre Ă„ betale med cash.
Glem dagens oljepris, den kan vĂŠre noe helt annet om 6 mnd.er.
En melding om godkjennelse av boretillatelse i Kongo.
Da manglet bare, utbetaling av tilgodehavende i Kongo og borestart neste.
Det er hÄp i hengende snÞre, fryktelig risk/potensiale.
Kantarell
24.03.2020 kl 09:49
2593
Om jeg leser riktig sÄ er Zena blitt 10 millioner mer verdt i dag? Og det blir ikke utvanning av aksjonÊrer...Vel nÄr vi 1 kroner i dag?
Har skjedd fĂžr
Har skjedd fĂžr
Herbius
24.03.2020 kl 10:08
2554
Undertegnede er meget meget tilfreds med den nye aftale.
Vi mĂ„ hĂ„be vi gĂ„r bedre tider i mĂžder đ.
Dette er ihvertfald vigtigt. đđ.
AAOG has informed Zenith that its largest shareholder, Forum Energy Services Limited, has given an irrevocable undertaking to vote in favour of the Resolution at the GM in respect of its registered holding in the ordinary shares of AAOG amounting in aggregate to 94,041,011 Ordinary Shares, representing 21.87 per cent. of AAOG's ordinary shares in issue on March 23, 2020.
Vi mĂ„ hĂ„be vi gĂ„r bedre tider i mĂžder đ.
Dette er ihvertfald vigtigt. đđ.
AAOG has informed Zenith that its largest shareholder, Forum Energy Services Limited, has given an irrevocable undertaking to vote in favour of the Resolution at the GM in respect of its registered holding in the ordinary shares of AAOG amounting in aggregate to 94,041,011 Ordinary Shares, representing 21.87 per cent. of AAOG's ordinary shares in issue on March 23, 2020.
Svartsyn
24.03.2020 kl 10:25
2523
Ă
snakke om 1 kr idag, forteller mest om din viten om denne aksjen. Det er totalt umulig. Da mÄtte Cattaneo trÞkt en pinne i bakken og opp av hullet kom det 1000 fat olje i dÞgnet.
Litt perspektiv over tilstanden.
1. FÞrst mÄ det nye utkastet til overtagelse godkjennes pÄ AAOG sin generalforsamling.
2. SÄ mÄ alle papirer i Kongo godkjennes av myndigheter.
3. Vi mÄ helst fÄ utbetalt tilgode havende fra Kongo.
4.SÄ mÄ vi fÄ boretillatelse for boring.
5 SÄ mÄ Zenith ordne en borerigg pluss mannskaper.
6. Boreriggen mÄ fraktes til lokasjonen og monteres opp.
7. SÄ mÄ det utfÞres uttesting av alt utstyret.
8.SĂ„ er vi klare for Ă„ starte boringen
9.NĂ„r boringen/kompleteringen/perforeringen er ferdig.
Da kan Zenith ta en flow'check og se hva brĂžnnen produserer pr.dag.
Og dette skjer ikke idag for Ä si det sÄnn.
Vi fÄr ta et steg om gangen. SÄ fÄr vi komme tilbake til finansieringen senere.
Men til det viktigste innen oljeboring ,det gÄr pÄ frem.
Det vil si at for hvert steg mot mÄlet, er vi nÊrmere "flow-checken"
Gjentar fĂžlgende High risk/High reward........
Litt perspektiv over tilstanden.
1. FÞrst mÄ det nye utkastet til overtagelse godkjennes pÄ AAOG sin generalforsamling.
2. SÄ mÄ alle papirer i Kongo godkjennes av myndigheter.
3. Vi mÄ helst fÄ utbetalt tilgode havende fra Kongo.
4.SÄ mÄ vi fÄ boretillatelse for boring.
5 SÄ mÄ Zenith ordne en borerigg pluss mannskaper.
6. Boreriggen mÄ fraktes til lokasjonen og monteres opp.
7. SÄ mÄ det utfÞres uttesting av alt utstyret.
8.SĂ„ er vi klare for Ă„ starte boringen
9.NĂ„r boringen/kompleteringen/perforeringen er ferdig.
Da kan Zenith ta en flow'check og se hva brĂžnnen produserer pr.dag.
Og dette skjer ikke idag for Ä si det sÄnn.
Vi fÄr ta et steg om gangen. SÄ fÄr vi komme tilbake til finansieringen senere.
Men til det viktigste innen oljeboring ,det gÄr pÄ frem.
Det vil si at for hvert steg mot mÄlet, er vi nÊrmere "flow-checken"
Gjentar fĂžlgende High risk/High reward........
Pih
24.03.2020 kl 10:25
2522
Du mener vel 0,1 kr? om den stiger til 1 kr sÄ gÄr den fra ca 40-50 mill i MC til 577 mill.. ikke helt realistisk kanskje
Herbius
24.03.2020 kl 10:43
2485
Er enig med Svartsyn, der er bare en del ubekendte der kan give kursen en over nakken op af đđ.
Ny lete brĂžnd med SOCAR. ( Hvor )
Tunesien opkĂžb
Afrika opkĂžb
Congo fĂŠrdig meldt med kommende boring i sigte..
SĂ„ fremtiden ser ikke helt sort ud hvis de bare lykkes med lidt, pt er vĂŠrdien af selskabet 40 mio kr..
Ny lete brĂžnd med SOCAR. ( Hvor )
Tunesien opkĂžb
Afrika opkĂžb
Congo fĂŠrdig meldt med kommende boring i sigte..
SĂ„ fremtiden ser ikke helt sort ud hvis de bare lykkes med lidt, pt er vĂŠrdien af selskabet 40 mio kr..
Pih
24.03.2020 kl 10:47
2472
Kantarell skrev Sier ikke nei til 1 kroner. Men 0,1? Hvorfor?
Ok, tror du mÄ sette deg litt mer inn i casen som Svartsyn sier. Eller eventuelt ta et nettkurs i bedriftsÞkonomi:) hvordan skal Kongo dealen Þke markedsverdien til et selskap fra 40-50 mill til nesten 600 mill over natten? og ikke minst nÄr oljeprisen er nede i 25 dollar fatet... Om den stiger til 0,08 i dag sÄ burde dere vÊre meget fornÞyde
Svartsyn
25.03.2020 kl 08:38
2239
Hei Herbius.
IgÄr brÞt vi en barriere. Kan ikke huske at vi noen gang har endt bÞrsdagen i pluss. Etter at Zenith kom med en firmamelding. SÄ 15 prosent opp igÄr var flott.
Synd vi er bombet sÄ langt ned i kursen at effekten/oppgangen blir begrenset i kr.og Þrer.
Men pluss er pluss....Ha en flott dag alle som en minus 2.
IgÄr brÞt vi en barriere. Kan ikke huske at vi noen gang har endt bÞrsdagen i pluss. Etter at Zenith kom med en firmamelding. SÄ 15 prosent opp igÄr var flott.
Synd vi er bombet sÄ langt ned i kursen at effekten/oppgangen blir begrenset i kr.og Þrer.
Men pluss er pluss....Ha en flott dag alle som en minus 2.
HP17
25.03.2020 kl 15:40
2060
Ingen rÞyk uten ild. Med en slik oppgang for 2 dag pÄ rad vil det ikke overraske om det virkelig lÞsner for Zena. Ikke glem heller hvem som er stÞrste aksjonÊr og har de stÞrste incentiver med Ä lykkes her. SoftOx gÄr som en kule (og er safe fremover) og kanskje Zena ogsÄ nÄ skal repises fremover?
Stansikala
25.03.2020 kl 21:57
1963
Jeg har efter en lÊst artikel om medarbejdere I Azerbaijan ikke skulle have fÄet lÞn siden Januar, sendt en mail til Mr Cattaneo og fÄet dette svar.
Dear Mr xxxxx
My apologies for the delay in responding - I have been travelling extensively in Africa.
I have read the âarticleâ.
The article is not credible at all and reports a number of falsehoods.
I can confirm that all of our field staff is fully paid at this time.
Further, as you will have read from our public announcements, the employees in question will soon be transferred back to SOCAR as part
of the handover process.
As is clear, the article therefore relates to matters of relatively little importance - nonetheless I shall instruct my colleagues in Azerbaijan to take all necessary actions to have it removed as the allegations are gravely damaging to our reputation.
Regarding our future outlook, I refer you to this public announcement which duly summarises what we are seeking to achieve at this time:
https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/update-on-acquisitions/202003120700038492F/
I wish you and your family much needed health and tranquility at this very challenging time.
Best regards,
Andrea Cattaneo
Dear Mr xxxxx
My apologies for the delay in responding - I have been travelling extensively in Africa.
I have read the âarticleâ.
The article is not credible at all and reports a number of falsehoods.
I can confirm that all of our field staff is fully paid at this time.
Further, as you will have read from our public announcements, the employees in question will soon be transferred back to SOCAR as part
of the handover process.
As is clear, the article therefore relates to matters of relatively little importance - nonetheless I shall instruct my colleagues in Azerbaijan to take all necessary actions to have it removed as the allegations are gravely damaging to our reputation.
Regarding our future outlook, I refer you to this public announcement which duly summarises what we are seeking to achieve at this time:
https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/update-on-acquisitions/202003120700038492F/
I wish you and your family much needed health and tranquility at this very challenging time.
Best regards,
Andrea Cattaneo