Zenith Energy Share Discussion Threads

[ravin146] 24/4/2017 16:48

Beggars belief why a day 3-1 in favour of buys results in the share price falling...can't see any late sells?!

[grannyboy] 24/4/2017 15:55

There's being negative, and there's being negative....

I was negative 2/3 weeks ago because of the delay in the w/o, and was right in my thoughts at the time...11smith is just nit picking in an effort to fulfill his own agenda.

If he feels there are so many caveats being in this share, then its best for him to look at another investment..

[sea7] 24/4/2017 15:43

Oil revenue will be in dollars, costs will be in manat.

april 2016 $1 was 1.5manat.

april 2017 $1 is 1.71manat.

More manat for a dollar, equals more manat to pay local costs/wages.

[bad gateway] 24/4/2017 15:43

the 5 year chart of the AZN to UKP shows it only trending down for the whole duration.
No reason to believe the trend will stop anytime soon is there?
hxxp://www.xe.com/currencycharts/?from=AZN&to=GBP&view=5Y
hxxp://www.xe.com/currencycharts/?from=AZN&to=USD&view=5Y

On your other note on perhaps you're only being ignored/filtered because its so blindingly obvious you have a negative bias here that appears to come more from a chip on the shoulder than any altruistic trait?

[11smith] 24/4/2017 15:35

So what will be the effect of the Azerbaijani New Manat gaining in value? ( 15% rise in 3 months so far). It is no good ignoring issues you don't like to hear and/or filtering anyone who raises a point that isn't 100% positive.

[sea7] 24/4/2017 15:17

UK Investor show uploaded 2 days ago.

[cpap man] 24/4/2017 14:23

Short ZEN at these levels?!?!?

Take a look at the ZEN chart and you will note that the 9p level is not only a strong support level but also the level that ZEN previously took off northwards from!

[ravin146] 24/4/2017 14:15

I wonder if my filtered 11yearoldSmith and PUGUGLY have finally put their money where their mouth is and short this stock?Or are they really sad folks who post on threads all day with no invested/trades auctioned?! Quite sad really to see.CPAP agree...though AC as mentioned in a response to honestcrook here that he want to avoid giving out dates.

[cpap man] 24/4/2017 14:08

RNS w/c Tuesday 2nd May 2017

Makes sense....

[11smith] 24/4/2017 14:03

The foreign exchange headwinds look ominous for Zenith. Azerbaijani New Manat climbing - 15% gain in 3 months, if that continues?

[pugugly] 24/4/2017 14:00

ravin146: As not an AIM stock and Canadian rules apply I do not think they have to publish major holders . No major holders (that I could find) schedulesd in the IPO documents - Also some 46 potentially dilutive warrants could be still outstanding - see page 177 of listing doc - Available from their web site.

[ravin146] 24/4/2017 13:51

Sea7 I'm trying to find the largest holder of ZEN listing in London...is it on their website?

[sea7] 24/4/2017 13:13

yep, me too, forgot about bank hol next week!!

[grannyboy] 24/4/2017 13:12

Forgot it was May day next Monday...

[ravin146] 24/4/2017 13:07

Sea7, as it bank holiday on Monday...I'm expecting an RNS on fri or tue or thereafter...

[sea7] 24/4/2017 12:55

They been at it for six days now, so end of week, early next week for some idea on progress/results seems about right

[grannyboy] 24/4/2017 12:52

At the moment there is no reason for the fall in the s/p, except to shake out some weak holders.

As stated there is only 100m of sidetrack to drill, and the casing takes around 3 days to cure.

If its a gusher then i don't think the company would be able to contain themselves, and would get the rates out pretty quick, if its just a steady flow then maybe we'll hear something by the end of the week or early next(Monday)?

[pugugly] 24/4/2017 12:32

RAVIN146 - Agree re workover results Huge potential EITHER UP or DOWN subject to what happens. Could it be that the apparent selling overhang is a major holder hedging. However as a dual list and not apparently an AIM stock (Cabadian rules apply) no holding rns apparently issualbe on movement of holdings.

[sea7] 24/4/2017 12:28

sidetrack is only 100m, so shouldn't be that long for some news on it.

[ravin146] 24/4/2017 12:13

Large seller still lurking as share price is being ticked lower, even though buyers are surpassing seller by a strong margin!Gd luck, AC needs to release positive news soon.

[ravin146] 24/4/2017 10:57

The coming weeks for the first workover result will be huge in the next direction...

[sea7] 24/4/2017 08:33

Anyway, with lifting costs at $14 a barrel, the normal running should cover itself quite happily in azer.

The drag that the argentine operations were beginning to have, due to lack of revenue, ongoing costs and lack of clarity over any timeline for resumption of business was removed swiftly. Thankfully andrea didn't cling to these assets like some others would have done. He jettisoned them early and removed the pressure on the balance sheet, which allows full focus in azer and Italy at this time. A good move in my opinion.

[sea7] 24/4/2017 08:28

11smith

your comment...

Can anyone explain this - ''an accumulated surplus of $602,623,046 (March 31, 2016 deficit – $13,645,926) since its inception

.............

They booked a gain in the accounts in shareholder equity of C$618m in the first quarter of 2017 because they did not have to pay anything for the drilling rights in Azerbaijan.

There is a deferred consideration shown in the accounts of $287,044,416 in non current liabilities, with another $501,836 deferred consideration due in under a year.

[zengas] 24/4/2017 00:00

11smith

Yes there is no production in Argentina as RNSd when they pulled out.
As for looking through the accounts for Argentina having the best prospects - you can't be serious and what's the accounts got to do with it in determining them as the best prospects ?

For starters the P2 reserves were extremely small and to get to 1,000 bopd from those alone, means all reserves would be used up in 18 months at that rate. Wells were estimated at 15 bopd. No one knows how long the operation may be closed down for re the environmental problem. Ultimately too small as a standalone project and again what the ongoing care and maintenance bill (draining money) would be along with decommissioning costs ?

20/2/17 - "To date, the issues affecting the transportation of oil have not been fully resolved and a persisting uncertainty on the recommencement of operations has led Zenith to reconsider its operational involvement in Argentina.
The sale of the Company's Argentina subsidiary has been fixed at a nominal sum in recognition of the costs the new owner is expected to incur to return these fields to production. In addition, Zenith will no longer be liable for any environmental responsibilities or future well abandonment obligations for the Don Alberto and Don Ernesto fields."

Re your concern about previous accounts, if you want to keep checking these then the removal of liabilities from the disposal of Argentina will help you at this date and time - not previous accounts.

In addition, Argentine oil prices had always enjoyed a government controlled mechanism and were at a substantial premium to world prices over the last few years that has now gone but previously made it attractive to have those guaranteed price ranges. When Macri came to power in late 2015 he said he would tackle this. This year it has now merged with world prices and it gradually lost around $20/b to what Zenith would have enjoyed for a number of years so may have become even less attractive and imo would be showing up worse than before. There was also a previous factor where capital controls existed on removing cash from the country and high costs of borrowing within.

With no production in Argentina, the general and admin end was running at over $400k/year for that alone and that's not counting care and maintenance costs. The liabilities for Argentina at the end of Dec 2016 were $4.35m. Both liabilities and admin cost are now gone.

[cashandcard] 23/4/2017 23:42

11smith,That's an oil service company (Zenith Energy) that has nothing to do with ZEN.Cash