Tunisia, Italia and Congo Brazzaville med Nigeria som JOKER
I see from the latest “Newsletter to Fixed Income Investors” recently posted on the ZEN website, that AC has left little doubt that Tilapia is 'in the bag'. The following quotes appear to confirm this.
“Zenith Energy achieved a significant degree of growth during 2021 as we successfully implemented our strategy of acquiring revenue generating oil production and development assets in Africa, specifically in Tunisia and Congo Brazzaville, ...”
“It is our expectation that we shall soon be in a position to progress our activities in the Republic of the Congo for the award of a new 25- year licence for the Tilapia oilfield.”
AC is too astute to commit to such statements in a legally onerous document without certainty of a successful outcome to such a claim.
“It is our expectation that we shall soon be in a position to progress our activities in the Republic of the Congo for the award of a new 25- year licence for the Tilapia oilfield.”
That is an excellent find AGEOS and it certainly does indicate that Zenith are getting increasingly certain that we should expect some news on Tilapia in the near future, and you are correct in thinking that it would have been remiss of AC to mention it in the bondholders document unless he knew that we were making progress.
As we all know, despite the significant revenue that is being generated by Tunisia the big driver that is going to send the share price upwards is Tilapia so if this is an indicator that this is imminent then it is very good news for all of us. The newsletter itself is dated January and therefore must already be nearly two weeks old, so fingers crossed this means that we should be expecting news sometime this month and a share price of at least double where we are today when the news lands. Lets hope that Tilapia 2 is announced soon and we experience the re-rate that befits the company’s status. After all, in his interview with Stig Myrseth last year AC did state that once all of the assets were confirmed he expected our market cap should be about £35 million.
Fra forum i London!
Nærmer vi oss Tilapia? De må da ønske vekst og økt produksjon i Congo!
I dag er Zena kr. 164 millioner verdt.
Da AAOG de tidligere eiere av Tilapia var på sitt høyeste lå de på 30 mio €, og de hadde kun Tilapia.
1: Tunesien
2: Nigeria
3: Nyheder ang bore oppstart på Tilapia, Rigg på tur mot Congo.
4: Nye licenser i Congo.
SNPC skylder 5,7 mio $, ( avklaring snart)
SNPC owes AAOG Congo approximately US$5.3 million. Zenith has met with SNPC and expects to obtain the full repayment of the aforementioned amount.
The seller of AAOG Congo has also novated 100% of the intercompany loans with AAOG Congo to Zenith as of the date of Completion, equivalent to approximately £12.5 million.
Vi må ikke glemme: https://www.oilfieldtechnology.com/drilling-and-production/23122020/zenith-energy-awarded-licence-to-operate-tilapia-oilfield/
https://www.youtube.com/watch?v=hZ75MAkH-w8
“Zenith Energy achieved a significant degree of growth during 2021 as we successfully implemented our strategy of acquiring revenue generating oil production and development assets in Africa, specifically in Tunisia and Congo Brazzaville, ...”
“It is our expectation that we shall soon be in a position to progress our activities in the Republic of the Congo for the award of a new 25- year licence for the Tilapia oilfield.”
AC is too astute to commit to such statements in a legally onerous document without certainty of a successful outcome to such a claim.
“It is our expectation that we shall soon be in a position to progress our activities in the Republic of the Congo for the award of a new 25- year licence for the Tilapia oilfield.”
That is an excellent find AGEOS and it certainly does indicate that Zenith are getting increasingly certain that we should expect some news on Tilapia in the near future, and you are correct in thinking that it would have been remiss of AC to mention it in the bondholders document unless he knew that we were making progress.
As we all know, despite the significant revenue that is being generated by Tunisia the big driver that is going to send the share price upwards is Tilapia so if this is an indicator that this is imminent then it is very good news for all of us. The newsletter itself is dated January and therefore must already be nearly two weeks old, so fingers crossed this means that we should be expecting news sometime this month and a share price of at least double where we are today when the news lands. Lets hope that Tilapia 2 is announced soon and we experience the re-rate that befits the company’s status. After all, in his interview with Stig Myrseth last year AC did state that once all of the assets were confirmed he expected our market cap should be about £35 million.
Fra forum i London!
Nærmer vi oss Tilapia? De må da ønske vekst og økt produksjon i Congo!
I dag er Zena kr. 164 millioner verdt.
Da AAOG de tidligere eiere av Tilapia var på sitt høyeste lå de på 30 mio €, og de hadde kun Tilapia.
1: Tunesien
2: Nigeria
3: Nyheder ang bore oppstart på Tilapia, Rigg på tur mot Congo.
4: Nye licenser i Congo.
SNPC skylder 5,7 mio $, ( avklaring snart)
SNPC owes AAOG Congo approximately US$5.3 million. Zenith has met with SNPC and expects to obtain the full repayment of the aforementioned amount.
The seller of AAOG Congo has also novated 100% of the intercompany loans with AAOG Congo to Zenith as of the date of Completion, equivalent to approximately £12.5 million.
Vi må ikke glemme: https://www.oilfieldtechnology.com/drilling-and-production/23122020/zenith-energy-awarded-licence-to-operate-tilapia-oilfield/
https://www.youtube.com/watch?v=hZ75MAkH-w8
Redigert 11.02.2022 kl 15:51
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castro1
14.02.2022 kl 20:10
3000
Next week er ikke automatisk mandag . Ta det litt rolig nå - dette kommer innen kort tid. Trodde dere at han skulle i møte i dag og deretter legge ut ferdigsignert avtale to minutter etterpå? Hallo! Velkommen til næringslivet.
castro1
14.02.2022 kl 20:10
2997
Next week er ikke automatisk mandag . Ta det litt rolig nå - dette kommer innen kort tid. Trodde dere at han skulle i møte i dag og deretter legge ut ferdigsignert avtale to minutter etterpå? Hallo! Velkommen til næringslivet.
Pessimist1
14.02.2022 kl 20:22
2953
Jeg har vel aldri sagt noe som helst angående når den avtalen bør komme? Jeg har helt enkelt poengtert at det er ingen garantier for at twitterkontoen som her sier next week faktisk har korrekt, jeg håper mer enn noe at han har rett, har helt enkelt sagt at det er ingen garantier for at han hverken er i Congo eller at lisensen kommer nå. Så før du kommer med den "velkommen til næringslivet" postulatet ditt bør du vel kanskje ta deg tid til å lese hva jeg faktisk har kommentert. Jeg både håper og tror Tilapia kommer, men jeg har sagt at en twitterkonto ikke er noen garanti for at det faktisk stemmer. Har aldri gitt utrykk for at jeg trodde noen avtale kom idag.
Tipper det går mellom 14-21 dager
Barneskirenn
14.02.2022 kl 22:08
2712
Når blir prisen satt? Og var det ikke en rabatt på markedsprisen ved forrige salg i juli?
Pessimist1
14.02.2022 kl 23:26
2590
Om man går utifra brent når de ble børsmeldt forrige oljesalg var rabatten 8 dollar per fat, men salget blir vel sluttet en stund før, de måjo bestilles tankbåt osv, så tror ikke det blir helt riktig nødvendigvis å gå utifra dagen det blir børsmeldt.
MarketGunsling
15.02.2022 kl 14:22
2295
Pessimist, you make an interesting point about the discount to the Brent price previously being $8 per barrel, but it also got me thinking on the costs.
The previous sale of 68,000 barrels for $4.5 million works out at a price of $66 per barrel and on the day it was announced the oil price was $74 per barrel. However, as has been pointed out by others, the date of the announcement (8th July) does not necessarily reflect the deal date. On June 7th, the oil price was $71.49 and the highest price was July 5th where it was $77.16 so we are essentially looking at a discount to Brent of somewhere between $5-$11.
On all of the figures that I have previously used for making revenue calculations I have used opex costs of $25 per barrel. However, what is interesting about the “produce and store” policy that Zenith are currently following is that the costs have already been paid for the production while the revenue has not yet been received.
This means that in terms of revenue being received for the current stored oil, my figures are actually slightly out. Working at a Brent price of $95 per barrel I previously calculated costs as $25 per barrel and therefor anticipated a net revenue of $70 per barrel, giving a total income of $8 million when in fact we should look at it as being $95-$11 (the discount to Brent) = $9.5 million.
Obviously, this will give us a substantial boost to fund further acquisitions and development in Tunisia or, as seems more likely at the moment, in the Congo.
The previous sale of 68,000 barrels for $4.5 million works out at a price of $66 per barrel and on the day it was announced the oil price was $74 per barrel. However, as has been pointed out by others, the date of the announcement (8th July) does not necessarily reflect the deal date. On June 7th, the oil price was $71.49 and the highest price was July 5th where it was $77.16 so we are essentially looking at a discount to Brent of somewhere between $5-$11.
On all of the figures that I have previously used for making revenue calculations I have used opex costs of $25 per barrel. However, what is interesting about the “produce and store” policy that Zenith are currently following is that the costs have already been paid for the production while the revenue has not yet been received.
This means that in terms of revenue being received for the current stored oil, my figures are actually slightly out. Working at a Brent price of $95 per barrel I previously calculated costs as $25 per barrel and therefor anticipated a net revenue of $70 per barrel, giving a total income of $8 million when in fact we should look at it as being $95-$11 (the discount to Brent) = $9.5 million.
Obviously, this will give us a substantial boost to fund further acquisitions and development in Tunisia or, as seems more likely at the moment, in the Congo.
Herman*
15.02.2022 kl 14:49
2244
Raising funds at 0.13 and «letting» the share price drop to 0.09: AC should face his shareholders and give more info about what is going on. Just kicking the can down the road year after year is not good enough. He guided 20000 b/d in 2022, we are currently at around 500… The fact is that AC has become filthy rich from Zenith, his shareholders have not. Show me the money! :-)
Pessimist1
15.02.2022 kl 14:50
2242
Interesting point.
I do believe a massive payday is coming at the end of March, calculating exactly what we will get is quite difficult. Some people even mentioned that there have been statements made by AC that we get a premium to brent in a video interview, I have not been able to find those comments.
It should also be added that the 114k barrels that will be sold in March/April does not include the barrels accumulated in the SLK deal which if memory serves me correctly will give an additional million dollars in revenue to Zenith at a lower oil price. Also if SLK part 2 does not come through we should get the 250k back.
It all adds up to quite a substansial amount of money.
All in all I dont think the money generated in Tunisia will be spent in Congo, as I deem it more likely that they will invest as much as possible in fields in Tunisia to reduce the taxbill. A good thing in my book.
Over 1000 barrels in Tunisia in 2022 is something I view as quite a realistic target. I am interested to see when we will get an estimate of the Capex cost of El Bibane which if memory serves me correctly could give approx. 600 barrels alone.
I do believe a massive payday is coming at the end of March, calculating exactly what we will get is quite difficult. Some people even mentioned that there have been statements made by AC that we get a premium to brent in a video interview, I have not been able to find those comments.
It should also be added that the 114k barrels that will be sold in March/April does not include the barrels accumulated in the SLK deal which if memory serves me correctly will give an additional million dollars in revenue to Zenith at a lower oil price. Also if SLK part 2 does not come through we should get the 250k back.
It all adds up to quite a substansial amount of money.
All in all I dont think the money generated in Tunisia will be spent in Congo, as I deem it more likely that they will invest as much as possible in fields in Tunisia to reduce the taxbill. A good thing in my book.
Over 1000 barrels in Tunisia in 2022 is something I view as quite a realistic target. I am interested to see when we will get an estimate of the Capex cost of El Bibane which if memory serves me correctly could give approx. 600 barrels alone.