Looking for a Tunisian date

Zenith (ZEN) went drilling for oil and gas in Tunisia some years ago and hit pay ground. At this point the Tunisian government decided to take over the licence with the result that ZEN referred the matter to ICSID, the arbitration body identified, should the need arise, in the original licence. Tunisia is said never to have defaulted on its liabilities. Therefore ZEN shareholders reckoned that they had merely to sit back and wait for a favourable ruling. The first such ruling came a few weeks ago in the sum of £9m but, as of last night, no money has been received. This is concerning. Further, the capitalisation of ZEN at 7.5p  is roughly £9m.

However, the optimists amongst us shareholders are hoping for a ruling in ZEN's favour of well north of £100m. So Family Cawkwell is holding very tight. Gamblers might join us.

As some readers will know I provide investment tutorials here at my home in Brook Green. Please apply should you want a session - possibly of two hours' duration. These sessions are tailored to the investor and typically have proved good fun. My email address is Cawkwell@btinternet.com.