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Zenith Energy (ZENA)

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#477

Update on Benin, and it’s positive.

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA), the international energy production company, is pleased to confirm that it is currently performing the necessary legal and technical work in coordination with the Ministry of Water and Mines of the Republic of Benin for the finalisation of a Production Sharing Contract for Block 1 containing the Sèmè oilfield, offshore Benin (“Block-1”).

https://newsweb.oslobors.no/message/587713

@Tony1 So Benin was definitely before reverse split :wink:

1 Like
#478

it is interesting that this message had almost no effect on the course!

#479

The market has heard from Zenith before that they are “finalizing”, and then it did not work out. I don’t think a deal will move the price until that deal is signed.

Volume is up, it’s not 12 yet and already the volume is higher than any day last week.

#480

When do you anticipate Benin announcement? I think the agreement is more or less certain but am not sure about the timing.

#481

It’s Africa. Add at least a month to whatever you think is a reasonable expectation. Personally I will be happy with something concrete before end of Q2.

#482

Det er ingen likviditet i denne. Noen kjøpte aksjer for mindre enn 100kr (1100 aksjer til 0.0749) og bevegde kursen 15%.

Jeg vet jeg har kommentert på likviditeten før, men dette var ekstremt selv til Zenith å være.

#483

Det er vel derfor det er gøy å ha noen lodd i Zenith, kommer den rette nyheten så kan den dobles på en dag med så lite likviditet.

1 Like
#484

Do you think the Benin news will come this week? I am not sure about this!

#485

on FA forum Viking speculates that the next message will be on Yemen! more concrete this time.

#486

Now I am not sure about Benin (and Yemen) news at all! What do you reckon, gals and guys?

1 Like
#487

The company tweeted this week with essentially the same info as previously on Benin: “finalisation” is apparently what’s going on. As I said previously, this is Africa so expect things to take time.

https://twitter.com/zenithenergyltd/status/1656569606079651846?s=20

For Yemen, who knows, it’s still in a civil war, I would not expect fast news from there either.

There has not been any definitive negative news on either, so any thoughts about the likelyhood of succeeding in Benin or Yemen should be the same now as one month ago.

Ps, The abandoned tanker off the Yemen coast is nearing a resolution. The UN still lacks funding for parts of the operation, but the ship is now under way.

1 Like
#488

I’ve also noticed this tweet but as for me – it means nothing! Just repeated the last announcement from 17.04 :disappointed:

1 Like
#489

Seems that Yemen is also “kaput”, what do you reckon? :thinking:

#490

I’m not aware of any news. Is there something I’ve missed?

I agree, that the longer we wait with no news, the higher the chance that Zenith’s deals have failed.

#491

Just reading FA forum on ZENA!

#492

Terrible day today, down 9% on the first day with any “significant” volume in over a week. Still, less than 0.4% of market cap was traded today, so my guess is that it’s rumour driven. This stock has the potential of big moves when there is actually news! (in both directions)

I’m considering realizing my loss and getting out of Zenith, it’s looking increasingly unlikely that Zenith will get a happy ending.

1 Like
#493

And if you sell and the next moment there comes Benin and / or Yemen message?

#494

Isn’t it a huge news about acquisitions in the USA? Did you manage to sell yourself out just before the announcement?

1 Like
#495

Zena lykkes ikke med noe.
CONGO nada
Tunisia nasa
Nigeria nada
Yemen nada
Benin nada
Nå USA neste??

Jalla! Jalla!

1 Like
#496

I got rid of 25% of my position already. I’ll continue to sell on the USA news. The fact that they are looking at potential acquisitions in a completely new market, which is also a much more mature market is not good news in my opinion. I think this means that Benin and Yemen is either dead, or at least that the management don’t consider it likely to succeed. That means that Zenith Energy today represent some tiny assets in Italy and Tunis with a very expensive management.