Zenith Energy - Oljen priset til usd 1 pr fat?

Frodon
ZENA 29.04.2022 kl 12:56 146417

Er dette blant de billigste olje selskapene pr dags dato? Er oljen de eier priset til ca usd 1 pr fat? I tillegg til olje produksjon, selger også selskapet gass og strøm. Bare strøm produksjonen som selskapet har i Italia, tjener selskapet nok penger til å forsvare hele børs verdien på kr 180 millioner

"Electricity prices during the month of March 2022 averaged approximately EUR 295 per MWh, resulting in net revenues of approximately EUR 300,000 per month. Zenith’s current net production costs remain fixed at approximately EUR 35,000 per month"

https://newsweb.oslobors.no/message/558660

"Oil production:

Zenith has reported production from its Tunisian assets in the first half of 2021/22 at 517 b/d. Shipments were somewhat lower at 371 b/d. Significantly, production in Tunisia was running at 650 b/d net in late September including conditional SLK output. Zenith suggested that 1,000 b/d is possible by the second quarter of 2022 assuming successful workover and drilling activity

Tunisia work programme:

Zenith has interests in four producing licences in Tunisia. At Robbana in the south of the country the workover of the ROB-1 well was successfully
completed in early Q4 2021. Production was boosted from approximately 20 b/d to 100 b/d. Near-term, the work programme in Tunisia involves drilling a vertical well at Robbana and two side-tracks in non-producing wells at the Ezzaouia also in the south of the country. The objective is 1,000 b/d for the latter while for the former we believe 500 b/d might be possible. The cost of US$2.5m is underpinned by the recent US$4m equity raise

Valuation and financing

Reflecting the sometimes difficult operating and business environment, valuations for undeveloped resources in Nigeria are modest. We believe valuation might well be less than US$1/barrel. If we assume US$0.5/barrel and 233mm barrels of resources for the two discoveries the valuation would be US$117m. A 42% interest would therefore be US$49m which implies significant headroom vis-à-vis the US$20m as per the OML 141 option agreement.

Zenith has indicated that plans have already been finalized for drilling the Barracuda 5 well (B-5). Apparently, all the necessary civil engineering work has been undertaken for the well including dredging and site clearance. The well location is between two previously drilled wells which have encountered ‘significant hydrocarbons’. The indications are that drilling will commence in January 2022. In a success case Zenith has indicated that production is expected to start immediately using a barge-mounted early production facility. Production could commence during the second quarter of 2022 at a rate of approximately 4,000 b/d, according to Zenith. Further development is expected with the locations for Barracuda wells 6, 7 and 8 already identified. If Zenith chooses to exercise
the option agreement, there will, therefore, be an ongoing corporate and development financing requirement"

Informasjon hentet fra linkene under

Prospektet 4.3.2022

https://wp-zenith-2020.s3.eu-west-2.amazonaws.com/media/2022/03/315-033-Prospectus-2022-final-approved.pdf

Analyse fra Allenby Capital 14.12.2021:

https://www.allenbycapital.com/our-research/?msclkid=f7a374b5c7a911ecaa511cb87e0b4104&fwp_research_client=2618

Børs meldinger fra selskapet:

https://newsweb.oslobors.no/search?category=&issuer=12675&fromDate=&toDate=&market=&messageTitle=
loomis
21.06.2022 kl 13:58 4799

Luffeguffe81 skrev I hope for you!
Er det riktig av meg å tro på at di plages med å få i gang robben?
happi67
21.06.2022 kl 14:17 4792

Vil tro det 🤷‍♂️. Var sikker på mld i går.
Mdg1
21.06.2022 kl 14:27 4783

Om de pllages er vel det noe de burde melde. Bør vel melde noe uansett denne uken siden de har lovet å melde før 18.juni
Gullit
21.06.2022 kl 14:53 4771

Det er ikke melkeproduksjon.. helt vanlig med utfordringer som gjør att noe tar noe lenger tid enn antatt. Derfor de antar og ikke skriver nøyaktige datoer.. går det noen uker mer enn antatt bør de oppdatere..
loomis
21.06.2022 kl 14:57 4763

Du forenkler melkeproduksjon.

Umulig å si nøyaktig når kua kalver!
Redigert 21.06.2022 kl 14:58 Du må logge inn for å svare

Skallenknarp, this exactly matches what AS said in the last investor conference call: "we cannot speed up African bureaucracy "
Gullit
21.06.2022 kl 20:10 4504

Meget forutsigbart


De fleste kuer er innendørs 8-9 måneder i året eller hele året. Kua blir gjort drektig en gang i året for å holde melkeproduksjonen oppe. Norske melkekyr er avlet for å produsere rundt 8.000 kg melk årlig, med et gjennomsnitt på rundt 25 liter per dag. En ku melkes i ti måneder. Hun får da to måneders pause før hun må føde på ny. Når kuene er rundt fire år, begynner de å melke dårligere. Da sendes de til slakteriet. Ku i ammekubesetninger holdes kun for kjøttproduksjon, og melkes ikke. Der får kalvene gå sammen med moren sin.
Gullit
21.06.2022 kl 20:17 4498

Eit av selskapa er italienske Eni, som signerte ein samarbeidsavtale med Kongo-Brazzaville og Angola berre kort tid etter at krigen i Ukraina starta.

– Om store gassprodusentar som Russland eller land i Midtausten har produksjonstrøbbel, kva er då alternativet? Qatar produserer allereie for fullt, Noreg har ikkje stor nok produksjon, Japan er for langt unna, Amerika har sin eigen marknad. Så kanskje løysinga kan komme frå Afrika.

Det seier Jean-Richard Itoua til den tyske TV-kanalen Deutche Welle.

Han er såkalla hydrokarbonminister i Kongo-Brazzaville. Det betyr at han er ansvarleg for mellom anna produksjonen av naturgass i det sentralafrikanske landet som er cirka sju gonger mindre enn det meir kjente nabolandet Kongo-Kinshasa.
loomis
21.06.2022 kl 21:13 4388

Joda, wikipedia er like enkel og rett frem som di også vil være om rep av robben skulle beskrives. I overført betydning så kalvet robben 31 mai. I følge zena skulle råmelksperioden vare til 18 juni før dyret nådde produksjonsnivå og leveranse. Siden ingenting er meldt om at så er tilfelle, så er det legalt å stille spørsmål om dyret har pådratt seg sykdom. Det kan være så enkelt at selskapet ikke bryr seg med å melde. Litt ille er det om dyret har pådratt seg produksjonssykdommer. Mest vanlig er mastitt som i di fleste tilfeller latt seg behandle, men kan også ha dødelig utgang. Produksjonen vil uansett i bli redusert. Ketose er litt mere skjelden, men gir nedsatt produksjon.
Derimot er det verre om dyret har pådratt seg melkefeber. Det er mulig å berge men har ofte en dødelig utgang. Produksjonen vil uansett bli tilbakesatt.

Manglende fruktbarhet (drektighet) er en av di fleste årsaker til utrangering og henger ofte sammen med manglende kunnskap/innsats rundt rollen i management. Det sier seg selv at det blir kostbart og belaster driften hardt økonomisk. Alternativet blir da lån for å opprettholde drift, enten med di resurseren en er i besittelse av, eller ved å kjøpe inn nye drektige dyr. Om det er vanskelig å få tak i drektige dyr, må det bygges ut fra egne resurser, noe som tar lang tid og gir en lengre periode med presset likviditet. Uansett vil ikke problemene løse seg om ikke gårdbrukeren går i seg selv om det overordnede i rollen rundt management.
Følgeproblemer kan bli omfattende og ende med avvikling av drift eller konkurs.

BMU
21.06.2022 kl 22:52 4256

Ops. I haw mist this part of stock announcement on Jun 14.2022, in my opinion it is very important for further development of the company. I can sleep better at night now (& thous who are understanding the meaning for the future.)
,,We have performed certain maintenance work during the month of May 2022 at Torrente Cigno, and have further work planned throughout this month, with a view to increasing our production during the second part of 2022. Beyond Torrente Cigno, our Italian portfolio presents several exciting development opportunities, and we hope to deliver news on this front during the year once we receive the necessary approvals to develop the Company's other natural gas production concessions."
-So now I hav no unanswered questions or wishes regarding company thay do what is wise to do with existing aset. In the men time we can wait for the big scores in Afrika.
fylla12
22.06.2022 kl 06:49 4104

Det mye intressant i Italia men det er fortsatt ikke meldt om noe nytt
om Lucera. Forventet ny oppstart var i mai og snart er juni gått.

Gode priser på olje og gass er av begrenset nytte hvis produksjon ikke økes
Gullit
22.06.2022 kl 08:14 3998

Sammenligner du epler og pærer nå? Sier bare att det er forskjell på enkelte ting😀 vil du fortsette å kverulere? Makan

Den vanligvis disiplinerte kjøpersiden flexer åpent pt👍💪
Gullit
22.06.2022 kl 09:54 3829

Bra interesse idag. Ting på g?
olje
22.06.2022 kl 10:00 3857

JA, alle som kan lese er vel klar over at det er flere ting på gang.
happi67
22.06.2022 kl 11:08 3762

Lurer på om det er en liten italiener som er blitt smittet av Afrika time. Ligger han ved bassenget med en paraplydrink. Det er ufattelig stille nå

Good oil and gas prices are of limited use if production is not increased

That is not true at all. Obviously, good oil and gas prices make a company more money the more oil and gas they produce but so do low oil and gas prices.

Actually, the key element of benefit to Zenith is that we are already a company with producing assets. We are currently producing 422 bopd and at the current oil price of $110 this should generate a gross revenue of $17 million per annum and a net revenue of $13 million per annum. If you compare this to one year ago when the oil price was $75 then this would have been a gross of $11.5million and a net of $7 million.

An oil mosquito like Zenith cannot control the oil price but what is important is that we take this additional windfall money from the rise in oil prices and we use it to both acquire new production and exploration assets and also to increase production at out existing assets. The fact that we have such large revenues coming in at the moment means that this is perfectly possible to do using debt funding and this is the real advantage of producing oil and cash.

We should get news on Rob-1 any day now and this would be worth another $3 million per annum net if it goes back to production of 100bopd. However, as I have said repeatedly on here, what I would like to see next would be the development of our gas licenses in Italy. This would diversify our production base so we are not so reliant just on Tunisian production and would also mean that we split our production more evenly between oil and gas (and gas will become ever more important as we move back into winter in three or four months time.

As BMU pointed out yesterday the company mentioned in their June 14th News release that “We have performed certain maintenance work during the month of May 2022 at Torrente Cigno, and have further work planned throughout this month, with a view to increasing our production during the second part of 2022.
Beyond Torrente Cigno, our Italian portfolio presents several exciting development opportunities, and we hope to deliver news on this front during the year once we receive the necessary approvals to develop our other natural gas production concessions."

Personally, I would like to see these Italian assets developed as quickly as possible and if we had to choose between having the funds to develop these or ROB-3 and Ezzaouia I think that it would be more beneficial to shareholders for the company to focus on the Italian assets first.
Albaliciouz
22.06.2022 kl 11:11 3808

Men skal en tro på alt en leser? 😏
Herbius
22.06.2022 kl 12:11 3717

Mon Ikke AC knokler imens i sidder og kværulere 😃

Tunisia, Saouaf Licence.Tue 21:13
In March 2021 [see post dated 07.03.2021] I posted details of the 4004 sq km Saouaf Licence which occupies the area immediately north and west of the 2200 sq km N Kairouan Permit in which ZEN has a 22.5% interest, which will double with anticipated acquisition of the KUFPEC Sidi El Kilani [SLK] interest. This was prompted by the announcement from Upland Resources of an open tender for a potential farm-in regarding the 15 potential plays identified in the Saouaf area and by the fact that the SW Enfidha structural high appears to extend from Saouaf into the N Kairouan permit area. I added that at the time it seemed unlikely that ZEN would be interested in such a farm-in but indicated the potential significance this might have for future development of the N Kairouan permit area.

Upland Resources Ltd [UPL] acts as operator of Saouaf, with ETAP [State Oil Co] as partner in a 50/50 JV [see www.uplandres.com for details]. On March 16 2022 UPL announced a Heads of Terms agreement with Pennpetro Energy Ltd for a proposed farm-in for Saouaf but in a 20th June RNS, announcing restoration of trading, refers to “a continuation of discussions with interested parties, as well as opening discussions with new potential partners”.

UPL has a market cap of £1m, is desperate for cash, and will probably prioritize its Moray Firth and/or Asian interests, if it survives as a going concern. It was suspended from the LSE, I understand for failing to meet a regulatory deadline regarding accounts, and has I believe failed to meet the Tunisian requirement of a guarantee deposit bond relating to Saouaf.

The reference to “opening discussions with new potential partners” leads me to surmise that ZEN could now be interested as AC may see this as an opportunity for acquiring further assets, at a bargain price, from a distressed seller.
AGEOS

As an afterthought to last nights post regarding the UPL Saouaf concession, the most effective strategy for ZEN would be to acquire Upland (Saouaf) Ltd, UPL's Tunisian subsidiary.
LATO
22.06.2022 kl 12:19 3701

Tilapia neste???
Furuen
22.06.2022 kl 13:05 3651

Oljesalg og Rob-1 neste.
LATO
22.06.2022 kl 14:51 3495

Hvem kan svare på følgende:

Tviler på selskapet svarer meg🤷‍♂️😅

Når kan vi forvente flow tall fra Rob-01?

Er det oppstått noen problemer?

Er pengene for oljesalg i april kommet inn på konto i selskapet?

Når forventes neste oljesalg?

Nylig var det OPEC møte i Congo B, deltok AC?

Er det noe fremdrift i å sikre Tilapia? Er ikke myndighetene intressert i å få opp produksjonen?

Hva er status i rettssk mot fransk boreselskap? Synes å husket AC i call sa vi kunne forvente avklaring i Q2 2022.

Lisensen på SLK utløper 31.12.2022? Er det noe håp om forlengelse?
fylla12
22.06.2022 kl 15:04 3504

Q : Er det oppstått noen problemer?
A : Å si noen annet enn ja vil være feil.

Q: Skal jeg selg meg ut ?
A: Nei

ROB-1 kan umulig være i stabil prod nå ...
Fader AC ville umiddelbart sendt det glade budskapet til børsen

Zenith (AC) bør vel forsovet komme på banen snart for å svare på spørsmpål i en IC.. Er mange spørsmål i luften, særlig når guidingen ryker på flere hold.
Hektor
22.06.2022 kl 15:13 3580

Q : Rob-1 - Vet du hvordan flow rate gjøres i praksis?
A : Venter i spenning :)

Olja kraftig ned men ZENA holder seg merkverdig bra på en kallrød børs så langt - Ikke noe som er bedre!! Håper dette skyldes at det kommer noen bra nytheter rundt neste sving som evt. ikke er for laaaang.....?
Hektor
22.06.2022 kl 15:28 3564

https://youtu.be/hinbeNMJ4Sc
Hvor lang tid flow rate pågår aner jeg ikke. Kommer når den kommer.
Hektor
22.06.2022 kl 15:46 3582

Stabil produksjon ja, men hvor lang tid tar flow rate?
olje
22.06.2022 kl 15:55 3554

Tipper ca 10 dager.

Hi LATO, I think that I can answer some of your queries.

♂️😅 When can we expect flow numbers from Rob-01? Personally

I am surprised that we have not already got the flow rates from ROB-1. I realise that timescales always slip in oil and gas (and this is true for all companies) but I think that if we do not have an announcement by the end of this week I am going to email the company and chase them.


Are there any problems?

I don’t think that we can assume that there are any problems especially since when they did the original workover they were late with the results and then announced over 100bopd in stable production. However, only the company really know this and we just have to wait for the announcement.


Has the money for oil sales in April entered the company's account?

I am sure that the money from the last sale has been received by the company. No company that I know would announce that they have expected to receive a payment in 30 days (as they did in the April 22nd RNS) and then make a formal announcement that they have received it. However, any company that did not receive money that they had announced they were expecting would have a legal obligation to say they had not received it. In this case no news is good news and I am 100% sure that they have received the funds


When is the next oil sale expected?

According to the April 22nd RNS the next oil uplift was expected to take place “in June 2022”so I would expect an announcement on this in the next 10 days. However, it would surprise me if this deadline slipped a little bit as Tunisia is an absolute mess at the moment. Public sector workers there are currently on strike in protest against the President’s rule and so if any of these were involved in the oil side of things then some delays should probably be expected. The only question is how long this delay might last – see this article for details: https://www.nytimes.com/2022/06/16/world/middleeast/tunisia-union-strike-kais-saied.html


Recently there was an OPEC meeting in Congo B, did AC participate?

I assume not as I am pretty sure that he would at least have tweeted if he had been there.


Is there any progress in securing Tilapia? Aren't the authorities interested in bringing up production?

I have no idea on this one. As I said in my post the other day, maybe the OPEC meeting there will concentrate the govts mind on approving oil licenses so that foreign companies like Zenith can actually invest in the country and start increasing their oil revenues for the benefit of everyone. But of course the country works on Africa time so who knows how long it could take.



What is the status in legal proceedings against the French drilling company? Seems to remember AC in call said we could expect clarification in Q2 2022. & License on SLK expires on 31.12.2022? Is there any hope of an extension? Meaningful progress

These are both very good questions and it would be very good to get an update on both of them. I assume that it is still proceeding as they should otherwise have told us but it would be great to get clarification on both of these points.

One thing that I am disappointed in the company at the moment is the fact that they have not announced another Investors conference call just to update us all with what is going on. I have no doubt that the company has been making progress in both Tunisia and Congo but you are absolutely right, we need to have confirmation of this from AC . Investor conference calls should be every 3 months as they have been in the past and I think that we have been almost 5 months since the last one. I am going to email the company and ask them to do another call asap. I doubt that they will listen to one individual email but if everyone else on this board also emailed them asking about this then they would have to do something. We should make ourselves heard.

The one positive thought that I have on the lack of ICC is that the company have always been fairly regular about having one of these per quarter and they have been good at informing us about what is going on. The fact that we have not had anything from them in 4 months could be taken as an indication that they are waiting for some significant news (Tilapia?) before they do this and therefore Tilapia is quite close. However, this is just me putting a positive outlook on this. I have no basis for it other than optimism and I will definitely email them to ask when they plan to do it next.
Redigert 22.06.2022 kl 16:02 Du må logge inn for å svare
loomis
22.06.2022 kl 16:47 3520

Kansje litt epler og pærer, men du forenkler den ene produksjonen Vs den andre. Begge er komplekse med hver sine utfordringer. Siden vi ikke hører noe så er i verste fall robben død.

Forøvrig består denne tråden av svært mange interessante debattanter som er lett trekke med motstemme. Zena har ikke levert noen ting annet en lån og aksjetrykking og er derfor bare opp ca 6% for året. I morgen kan det like godt være - 6% for året. Tråden består av en menighet basert på tro, håp og kjærlighet. I dag er vi opp ett par prosent og det meste ender i tungetaling.

For min del holder jeg døren åpen for at zena kan være et nytt can argo, og er av den formening at selskapet bør motbevise det snarest. Tråden i dag er full av tilapia snakk, på samme måte som det var tilapia snakk for 2 år siden. Sånn sett har har epler og pærer like stor verdi.

Jalla balla!

Loomis what you are posting is completely incorrect, what about all the oil we sold in Tunisia ? The electricity sales in Italy actually generating some solid revenue? Fully funded for rob 3 and ezzaouia, $5.7m owed by the snpc, $3.1m owed by the smp, not to mention we are expecting to sell another 5million plus barrels of oil at the end of this month also. We get it you’ve sold out and want a cheaper entry. The ground work for tilapia has also been done we are now waiting for finalising from the congolese end that’s it.