Zari Resources: Charts & Fundamentals

Zari Resources was set up to invest in gold exploration in Tanzania, it has now changed focus and proposes to invest in oil exploration in West Africa.

MktCap: 244million shares x 4p = £ 9.8 million

CHART


Zari acquired the option to purchase the whole of British Virgin
Islands-based Horizon Oil, as part of a deal in which Zari agreed to lend up to
1.6 mln stg to Horizon to finance investments in offshore oil and gas
exploration licences in West Africa.

West African Reserve potential
The West African oil province (the so-called Ecowas region or Gulf of Guinea) holds 33.8 bln barrels of proven oil reserves, 3.1% of the global total. Taking into account unproven reserves increases West Africa's share to around 7% of the world's total. Nigeria was the fifth largest crude exporter to the US in 2002, behind Saudi Arabia, Mexico, Canada and Venezuela. According to the DOE's Energy Information Administration (EIA,) Nigeria's exports to the U.S. declined from 842,000 bpd in 2001 (9.03% of total U.S. imports) to around 567,000 bpd in 2002 (6.27% of U.S. imported crude oil.) Increased reliance on Nigeria means increased exposure to unrest, disputes and instability in this volatile country

MANAGEMENT
Neale Taylor ??
A veteran of Australia's oil industry, Neale Taylor, who worked for Esso Australia, Terra Gas Trader and Nexus Energy, has just been named to the board of the Zari Resources mining company. (...). [Total : 137 Words].@: http://www.africaintelligence.com/ps/AN/Arch/AEM/AEM_382.asp

DIRECTORS
Brian Moritz.. : lately of Grant Thornton
John Woolgar.. : former stockbrorker, fundraising for small cap co's
James Burgess. : ex-Chmn., Everett Financial (until 2003)
Jo Malins..... : Chrt Acct., Exec. Cambrian, Non-exc Ore-Vest, FD, AsiaEnergy

Nom.Advisor... : Hichens Harrison
Brokers......: Kbc Peel Hunt, Evolution, Hichens, Jefferies, Shore Capital, Winterflood


SHAREHOLDERS
1/
Morgan Stanley Securities Limited acquired interests in the Company's
ordinary shares that resulted in a total holding of 14,000,000 ordinary shares
in the Company, representing 6.09 per cent. of the issued share capital of the
Company. (1 December 2004)
2/
James Burgess, a director of the Company. Following this issue, Mr Burgess is interested in 10,266,666 ordinary shares in the Company, representing 4.4 per cent. of the issued share capital of the Company. (11 January 2005)
3/
The Company has been notified that Caldwell Associates Limited through Forest
Nominees Limited holds 7,500,000 ordinary shares in Zari, representing
approximately 3.10% of the issued share capital of the Company. (25 January 2005)
OUT/
Cambrian Mining plc has disposed of 13,333,333 ordinary shares in the Company and no longer has a notifiable interest. (1 December, 2004)


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LINKS:
Company Website..:
Quote on Yahoo.....: http://uk.finance.yahoo.com/q?s=ZAR.L
Trades, history....: http://www.lse.co.uk/ShareInformation.asp?mode=quote&STOCK=ZAR
WestAfrica Offshore: http://www.westafricaoffshore.com/
Rigzone News etc.: http://www.rigzone.com/news/article.asp?a_id=19686