ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

ZEN Zenith Energy Ltd.

2.30
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Zenith Energy Ltd. LSE:ZEN London Ordinary Share CA98936C8584 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.30 2.20 2.40 2.30 2.30 2.30 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Zenith Energy Share Discussion Threads

Showing 7251 to 7274 of 17800 messages
Chat Pages: Latest  292  291  290  289  288  287  286  285  284  283  282  281  Older
DateSubjectAuthorDiscuss
17/2/2017
08:21
The thing that's making me a little itchy though. Why is Zenith working so hard on the PR? They really have no need to unless it's purely to get the share price up for AC's payout next year? I'd be very surprised if he was doing this just for the shareholder base. Not that I'm complaining as I'm benefiting too, but being used to dodgy AIM shares and being burned several times, I'm a little wary of this type of thing now.
aggieuk
17/2/2017
08:17
Whilst i respect your views very much ZENGAS we will have to agree to disagree with regards to DARWIN
cpap man
17/2/2017
08:16
Andrea will be presenting at momentus events and now confirmed at Master investor and U.K. Investor so clearly happy to talk to investors.
scotty666
17/2/2017
08:16
Zengas, let's worry about that later down the line. there is no doubt that down the line, funding will be required to go onto the next stage...warrants or loans.

Workovers need to be a success, most important part of this year, or even the first 1-2 months, as we will get an idea of the success rate on the best/or largest wells.

20 days from the 9 of feb until the first set of results according to the recent rns, so looking forward to that.

imo, dyor

ravin146
17/2/2017
08:16
CPAP Man who do you think are the company employees here on advfn? I've not really spotted these people yet.
aggieuk
17/2/2017
08:08
nt - I agree with you, but I do think as things progress the use of additional rigs may be stepped up.

The company doesn't have full control over when the warrants will be exercised.

There's absolutely no difference in drawing down from the available Darwin loan facility "or the purchase of a new Chinese workover rig to be financed by the manufacturer". It's a loan whatever way you look at it and will depend what the interest charges are.

Also in the future - they intend to buy a drilling rig capable of reaching 4500m to drill 5 new wells in 2019. That's only 2 years away and was based on them only having the 1 workover rig. With 2 w/over rigs that could bring new well drilling closer ? That imo is likely to be financed and i'd prefer that rather than dilution to raise the funds to kick start it whenever that time comes.

zengas
17/2/2017
07:35
Also totally agree with ravin146 - remembering that old saying....ROME WAS NOT BUILT IN ONE DAY
cpap man
17/2/2017
07:33
Totally agree with you there Divmad - as there are obviously some posters here closely associated with the company [by the way i see that as a positive not a negative] i for one would really appreciate the message getting back to the powers that be....

NO DARWIN PLEASE....just use the WARRANTS



EDIT: the are so many examples of where the likes of DARWIN have absolutely destroyed shareholder value so best NOT TO GO THERE

cpap man
16/2/2017
23:49
Zengas

I didn't read that as a third rig.
More that the company's preference was to work in house. Therefore a consideration is to buy another rig to replace the 'Team b' and so keep everything in house.

Regards,
nt

nametrade
16/2/2017
22:34
As I said earlier, let's learn to walk before we fly!Workovers planned this year. If the first few a ridiculously great. Then it could be accelerated quickly with share price flying and funding available.Gla
ravin146
16/2/2017
21:50
Please, no Darwin drawdowns.
divmad
16/2/2017
20:02
They have a loan facility in place they could tap before May if required....or could probably extend...

Also, as mentioned earlier, there are something like 48m warrants to convert over time...

A combination of both income sources means they have options....some dilution is inevitable with those warrants anyway eventually...

The main thing is, should they wish to accelerate things even more than so far planned, they can do so in an orderly manner...

sja123
16/2/2017
19:22
We know there can be NO further placings this year.

As ZEN is listed on the full market (not AIM) they're restricted to placing no more than 10% per year , which they've already done.

cottoner
16/2/2017
17:06
From the prospectus....

£20,000,000 Loan Facility with Darwin Strategic Limited (acting on behalf of Darwin Capital
Limited)
On 13 November 2015, the Company entered into a £20,000,000 (circa CAD $37,200,000)
unsecured loan facility for general corporate purposes (the “Facility̶1;) with Darwin Strategic
Limited (acting on behalf of Darwin Capital Limited) (the “Lender”). Subject to a satisfaction of
certain conditions precedent and the approval of the Lender, a minimum sum of £100,000 and
up to a maximum sum of £2,000,000 for each tranche can be drawn at any time up to 13 May
2017. Each drawdown is at the Lender’s absolute discretion. The Loan accrues interest at the
rate of 12% per annum on the amount drawn and is payable quarterly in arrears. Each
outstanding drawdown is repayable on the third anniversary of the first drawdown date. The
Company may prepay the loan, in whole or in part, at any time and without penalty. A one-time
fee of £25,000 was payable to the Lender on signing of the facility letter (satisfied by issuing the
Lender with 526,705 Common Shares). Provided no monies are owing under the Facility, the
Company may terminate the Facility with immediate effect by written notice and the Lender may
terminate the facility on the one year anniversary of the date of the facility letter. The parties can
mutually agree in writing to terminate the Facility at any time. As at 21 December 2016, the
Company had not made any drawdowns under the Facility.

sja123
16/2/2017
16:54
Don't they still have an undrawn $20m loan facility with Darwin to May of this year for any funds to be drawn down if need be. Maybe they will renew it in due course.

They said last week that they are considering the use of a 3rd workover rig - either by buying a pre-owned rig or a new Chinese one to be financed by the manufacturer. Given their plans were based on 1 workover rig, they could possibly do in 1 year which would have taken 3 years.


Longer term they were planning to buy a drilling rig for new wells - but if they ramp up the workovers successfully, then new drilling on high impact wells could be a lot earlier than previously indicated.

zengas
16/2/2017
16:48
That's a long term propect. Short/medium target is simple.Workover, workover and workover to get the first dozen or so wells producing multiples it's current bopd.Let's learn to walk before flying!
ravin146
16/2/2017
16:40
Richie666,


What could the co do with $9mln CAD?

Some proper 3D seismic and drill new wells in optimal locations.

Given the risk is not exploring for oil, rather its with drill, completions & maintenance, such an approach will pay for itself.


Cash

cashandcard
16/2/2017
16:35
11.2% rise and well result not even released yet....plenty of potential here!
ravin146
16/2/2017
15:47
my buy showing as a sell
milliecusto
16/2/2017
13:13
Gents, what I don't believe is in the market at present is the almost certain probability of warrant conversions as detailed in the prospectus. This will bring in upto just over $9m CAD with strikes between 15 & 25c (CAD). We are comfortably through the first 15c trigger now.

What could the co do with $9m CAD?

richie666
16/2/2017
11:33
Very nice indeed! Much more upside here this has only just started.
mick113
16/2/2017
10:49
barnetpeter what happened to 15% and then out lol...these bb do make you laugh at times.

ZEN could be the share of 2017. This will be a gradual rise, with the management expected to update shareholder every 20 days on the workover results.

dyor. gla...will be interesting once canada open, maybe prof taking or another run of buys.

ravin146
16/2/2017
10:45
Chunky delayed buy there.

344,615 shares @ 13p at 9:44.

Nice.

x54v
16/2/2017
10:35
Great move today. Let's see if this can be maintained this week. 15p is first target
barnetpeter
Chat Pages: Latest  292  291  290  289  288  287  286  285  284  283  282  281  Older

Your Recent History

Delayed Upgrade Clock