Low season in Congo Brazzaville though 😎

Viking that is good news. However, do you think the fact that 55%f SLK is owned by ETAP might cause problems with strikes as ETAP is a state company?

No, I am not new. The "panic" has been going on for months and years by now.

company production number from ETAP not showing this.

«With several opportunistic but timely acquisitions in 2021, coupled with the recent surge in the oil price, Zenith Energy has, in our view, completely transformed itself and its value proposition to investors. While for various reasons it has not been easy for the market to fully recognise and reward this transformation, we expect 1) doubling production, 2) further strengthening of its balance sheet and 3) becoming Free Cash Flow (FCF) generative this year, will make it difficult »

M.cap 170 mill, hva kan gå galt 🤗

Konkurs!

Forbanna klovn!

Exceptional transformation... and it may be just a beginning."
📝 Take a look at Alternative Resource Capital’s new note on Zenith here…

https://www.research-tree.com/companies/uk/oil-gas-e-ps/zenith-energy-ltd-/research/alternative-resource-capital/exceptional-transformation-and-it-may-be-just-a-beginning/1db7fefb-7c56-43a0-b295-749a31bb6e8b

#Oil #ZEN #ZENA

Kommer sikkert noen flotte konkrete svar fra loomis som alltid (ironi)

Skal tro hvor mye som tjenes av di få som sitter med reel informasjon?

Konkurs er vel rigtig, hvis der ikke kommer nogen afklaring.

@MG
I assume your cry for attention was heard by the HQ, due to the release of the what-if-Alfie Atkins, summer catalogue at a bargain price 😂

Noen som har adgang til hele artikkelen og kan gjengi noe?

With several opportunistic but timely acquisitions in 2021, coupled with the recent surge in the oil price, Zenith Energy has, in our view, completely transformed itself and its value proposition to investors. While for various reasons it has not been easy for the market to fully recognise and reward this transformation, we expect 1) doubling production, 2) further strengthening of its balance sheet and 3) becoming Free Cash Flow (FCF) generative this year, will make it difficult for the market to ignore. Furthermore, while doubling production in Tunisia and putting itself into a position to generate more than $10mm/year of operating cash flow at current oil prices would be a meaningful value-creative event on its own merit, the “icing on the cake” in our view could come next year in Congo. In case of an appraisal success in Congo, we see value creation potential of several multiples to the company’s current market capitalisation. If the oil price stays at current levels, we see these value creative opportunities largely funded from internal sources. ► Last year - first transformational step completed - from cash burner to cashneutral in 12 months for a “next to nothing” entry price. We estimate that in FY21 (31 March 2022 year-end) just from two shipments the company generated $5-6mm of additional operating cash flow. This came from the assets Zenith acquired for upfront payments of c.$2mm. This exceptional one-year return on its investment in our estimates has enabled the company to be largely cash neutral in the last twelve months and more importantly to strengthen its balance sheet for the next step in its transformation. ► This year - second transformational step ongoing - doubling production while still generating some free cash flow. With about $6mm of investment in three wells in Tunisia, management expects to reach 1.0-1.5kbbl/d of net production later in the year. Despite this investment, we estimate the company is still likely to generate FCF this year in the current oil price environment. More importantly, going into the next year with a 1.0-1.5kbbl/d of production would put the company in a position to generate $10-15mm/year of operating cash flow and easily fund the next transformational step in Congo. ► Next year - third transformational step coming - a shot at de-risking more than $100mm of additional NPV value in Congo. Zenith acquired its Congo asset for £0.2mm and it is currently awaiting a final licence award from the government. Once granted, the company plans to drill a c.$5mm side-track well to de-risk the already discovered gross 20mmbl of 2P reserves. If successful, besides adding 13kbbl/d production, this well could be a major milestone towards de-risking an asset that in our estimates could be worth up to 5.5p/share net to Zenith at $70.0/bbl long-term Brent oil price. ► When it rains, it pours! Besides the opportunistic acquisitions, following the surge of electricity prices in Europe this year, even Zenith’s ‘legacy’ marginal Italian assets are now generating more than $2mm/year of operating cash flow. While in the past these assets would have contributed marginally towards the company’s G&A, this year they may cover a significant portion of it, leaving the proceeds from the oil assets solely for reinvestment into growth initiatives. ► Valuation and upside – We initiate coverage with a fair value range of 2-3p/sh, applying various valuation metrics. The low-end of the range still implies appreciation potential of more than 100%, despite that it excludes the Congo asset completely. On the other hand, the high-end of the range only assigns 25% of the Congo assets, as we await further de-risking events to materialise.

Der er vel ganske så nøyaktig det man har forsøkt fortelle folk her inne., forstår ikke prisingen av Zenith selv uten Tilapia godkjenning .. mange muligheter der vi allerede opererer. Så er pengeflyten meget hyggelig

Takk for delingen. Skrev de noe om kursmål og verdier? Nå er Kongo kanskje utsatt til neste år :(

"We initiate coverage with a fair value range of 2-3p/sh, applying various valuation metrics. The low-end of the range still implies appreciation potential of more than 100%, despite that it excludes the Congo asset completely. On the other hand, the high-end of the range only assigns 25% of the Congo assets, as we await further de-risking events to materialize."

here pricing given with $70 oil price is 0.36 approximately (with 25% of Tilapia II) without Tilapia kr 0.24 (Without Tilapia II) (with current oil price $113 - kr 0.68)
***********************************************************************************************
***********************************************************************************************
"If successful, besides adding 13kbbl/d production, this well could be a major milestone towards de-risking an asset that in our estimates could be worth up to 5.5p/share net to Zenith at $70.0/bbl long-term Brent oil price."

Value of Tilapia with $70 oil price 5.5P = kr 0.66 (with current oil price $113 - kr 1.14)
********************************************************************************************************************************

We initiate coverage on the company with a fair value range of 2-3p/share, implying potential upside of 140-260% to the current share price. Derivation of fair-value range Given that we believe various valuation methods have their own strengths and weaknesses, for the high-end of our fair value range we have derived a 3p/share value (Figure 11) using an average valuation of three different methods: 1) Deriving an indicative NPV10% for the Italian assets and NPV15% for the Tunisian and the assets in Congo, utilising a DCF approach (Figure 12) for the 2P reserves. We note that given the stage of the Congo asset (yet to be awarded, still not producing and its history) we have assigned a 25% Chance of Success risk factor for the time being. We will gradually increase our risk factor as the company continues to de-risk the asset. 2) applying a 3.0x P/CF multiple to our 2023 adjusted operating cash flow estimate (Figure 11). 3) applying a 3.5x EV/EBITDA multiple to our 2023 EBITDA (Figure 11). For the low-end of the fair value range, we have excluded the Tilapia asset completely from the valuation. Given the amount of work that has already been done, this would be a rather conservative approach in our view. Nevertheless, as highlighted previously, we could see the market being sceptical on the Congo assets. With our low-end of the fair value range, we show that our investment thesis is not solely dependent on the Tilapia licence. But rather we see it as a very attractive risk/reward opportunity.

Current Valuation with $70 -
Without Tilapia II - kr 0.24
With 25% of Tilapia - kr 0.36
Tilapia II valuation - kr 0.66
With full Tilapia II - Kr 0.90

Current value of oil price is $117 we can see as production and drilling cost will be deducted from first $70
Without Tilapia II - kr 0.77
Tilapia II valuation - kr 1.30
With full Tilapia II - Kr 2.08


Tilapia full production will start next year it will take time to drilling and increase production , transportation and storage upgradation.

where i can get full report ?
or full list of 2P reserve
Tilapia -
EBB -
ROB -
EZZ -
SLK -

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

Chapmans report giving only estimate for Djeno reservoir and not other 3, out of which some are producing now. Old AAOG report has given 2P reserve for that too but now AAOG site is not associable.

Domus.

Har du investert i Zenith?

Er vel uvesentlig info!?

Kan du si litt om hva du tenker rundt selskapet? Jeg lagde en trigger liste i slutten av april med info tilgjengelig fra selskapet selv. Må si jeg opplever mye av det andre aksjonærer har klagd på, at ting ikke skjer når det blir guidet også hører vi ikke så mye mer. Litt synd at de ikke oppdaterer guidingen i en av børs meldingene de sender ut. Eks Lucera skulle vært tilbake i produksjon i mai, ikke hørt noe mer. Skjønner at ting tar lengre tid enn ventet, men burde de ikke kommet med ny guiding istedenfor å ikke si noe mer? Eller tenker du at dette er jo grunnen til at det fortsatt er mulig å kjøpe aksjer på dagens "billige" nivå? De har faktisk kommet med ny guiding på ROB-3, som skulle begynt i juni 2022. Den er nå flyttet til november 2022

Fra april 2022:

Liste over 7 triggere til de neste månedene:

1. Lucera - Zenith har guidet feltet tilbake i produksjon mai 2022. Zenith eier 13,6% av feltet

"Lucera: The Issuer owns a 13.6 per cent working interest in the Lucera gas concession covering approximately 13,361 acres. This concession is not currently producing, because there are problems with the gas treatment plant. Production is expected to resume in May 2022. Despite the Lucera concession is currently not producing, it still has valuable gas reserves. Therefore, this concession is of essence for the Issuer. This concession is scheduled to expire in 2022 but
an extension is expected to be granted based on the remaining reserves"

----------------------
2. Olje salg i juni 2022 - 52.000 fat olje skal selges i juni 2022. Med olje pris på usd 119 og dollar på 9,43, utgjør dette en inntekt på ca kr 58 mill

https://newsweb.oslobors.no/message/559756

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3. ROB-3 - Borre ny brønn på eksisterende felt. Arbeidet begynner ca i juni 2022 og Zenith har guidet en olje produksjon på ca 200 fat olje pr dag. Med olje pris på 119 og dollar på 9,43, utgjør dette en årlig inntekt på ca kr 81 mill

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4. Kongo - Her har Zenith blitt tildelt lisens for 25 år og har fått retten til denne. De har til og med fått utbetalt beløp for tidligere produksjon fra denne lisensen. Zenith mangler en CPR for Tilapia II lisensen i Kongo. Her venter Zenith på de siste formalitetene fra myndighetene. Zenith hevder lisensen vil produsere fra 2 til 2,5k fat per dag, noe som er 4-5 ganger så mye som dagens produksjon. Med olje produksjon på 2000 fat pr dag, olje pris på 119 og dollar på 9,43, utgjør det en årlig inntekt på kr 819 mill

"award of a new 25-year licence to operate the Tilapia oilfield (“Tilapia II”

https://newsweb.oslobors.no/message/521625

"rapidly grow in size to achieve a daily production rate of more than 10,000 bopd"

"25-year production-sharing contract for the potentially highly productive Tilapia oilfield in the Republic of Congo"

https://theenergyyear.com/articles/zenith-energy/?msclkid=a68f225fd07e11ecaff98e4634f65ebc

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5. Tunisia - Her har Zenith en eierandel på 22,5% pr dags dato, som de selger olje fra. Her er det guidet en dobling av eierandelen fra 22,5% til 45%. Dette kan skje når som helst, venter på godkjenning fra myndighetene.

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6. Italia - Zenith produserer strøm de har høy fortjeneste på. Selskapet jobber med å øke strøm produksjonen

"It is our objective to explore the best way to increase production, without jeopardising current output, to further maximise our profitability”

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

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7. Nedbetaling av gjeld

https://newsweb.oslobors.no/message/559756
"A second international crude lifting for a quantity of at least approximately 52,000 barrels of oil produced from the Company’s 22.5% working interest in the Sidi El Kilani concession (onshore Tunisia) is expected to take place in June 2022."
I think everyone forgot including AC

For Zenith er det historien som tynger slik jeg ser det. Med operasjonene i Aserbajdsjan som aldri ga avkastning med dertil hyppige utvanninger av aksjene.
Cattaneo gjorde noen smarte oppkjøp under epidemien og snudde selskapet. Oppsiden er meget stor med dagens energipriser og aksjen er solid underpriset sett opp mot normal prissetting.
Imidlertid må Cattaneo bli vesentlig bedre på kommunikasjon.

Må nesten forventer news om dette i morgen. Da fredag er vi inne i 01.07!

Landes Tilapia nå, kommer kursen til å fyke mot 80 øre!

Alle bør være fullastet!

Det er bevist att vi produsere strøm og olje samt får solgt varene». Oljeprisen kan klatre over 200.. ingenting som tyder på dårlige tider for Zenith fremover. Folk må våkne før dennne tar sats..

agreed I think we should be due an investor call to see what the plan is until production in Tunisia commences, I am hoping a new asset or Tilapia signed off, either one will add significant value to the share price.

Fint du bidrar Domus,satser på det feter seg opp her etterhvert det blir mer kjøtt på beina 👍

Absolutt noen bra kjøp de gjorde, når ingen ville ha olje mer ;)
De fikk nedbetalt et "døds spiral" lån 3.5.2022, som jeg ser som et vendepunkt for selskapet.

10.5.2021 ble det utstedt warrents som går ut 1.7.2022 med kurs kr 0,25. Jeg regner med at de går ut uten å bli benyttet ;)

34,284,000 Warrants with an exercise price of NOK 0.25 expiring on July 1, 2022

Da er det ca 250 millioner ubenyttede warrents igjen etter de har utgått. De har utløsnings kurs på alt fra kr 0,12 til kr 0,325

som sædvanligt sker der ingenting

Jeg tenker at det er bedre om de går litt over tid i guidingen, så lenge olje pris stiger og de får bedre betalt for oljen ;) Men mulig markedet sender aksjen ned hvis oljen ikke blir solgt i juni, slik de guidet?

I had uploaded all of the AAOG corporate documents to here if you want to look at them: https://ufile.io/f/xica9

As Viking has suggested, the information that you seek will probably be in there.

The documents are:

1. AAOG AIM Admission Document
2. AAOG 2016 Annual Report
3. AAOG 2017 Annual Report
4. AAOG 2018 Annual Report
5. AAOG 2019 Annual Report

I hope this helps.

Ikke direkte. Anser deg fra innleggene rundt QEC som edruelig/seriøs/lite haussing. Derfor er det et legitimt spørsmål fra min side å høre hva andre seriøse skribenter mener om caset; herunder om det faktisk er investert.

Nu skal vi lige være enig i en ting herinde 😃
De regner med at salget kommer i juni 👍
Kan sagtens gå en uge over 💰

is expected to take place in June 2022

Well I've have sad for a long time a go. ,,Under the shadow of Tilapia ( and I hate that name, like is the last place on earth where there is oil.) nothin was good enough. And the company has done meny progressive work in the deferent fields and conditions ar good. It was good news when it com, but it hit os beck after 6 months. And awry good news it com from the company it was fallowed by Tilapia name ( its coming now ore soon)
To me Tilapia is like pretty Girl that you dream of in college and when you grow old you understand that all the pretty ladies you have overlooked because of her......

Seriøse investor?

"to me Tilapia is like pretty Girl"

Jisesss, det er jo zenith tøsa.

Synes BMU beskriver det meget bra.