Zenith Energy Share Discussion Threads

[andy] 15/7/2017 10:47

cpap,

Absolutely, then raving could pretend we're still on filter whilst trying to reply to the post without making it too obvious!

[cpap man] 14/7/2017 14:08

Ok thanks Andy and please make sure that it is on the shyt ZEN thread!!!!

[andy] 14/7/2017 14:06

cpap,

Sorry no time to research that now, if I can find it later I'll post it.

[ravin146] 14/7/2017 13:40

Toon,Because this one is full of shyt hence Scotty created a new one!Choose what you fancy.Drill will do the talking.

[thetoonarmy2] 14/7/2017 13:32

Guys this is now only about news on the drill not placings or anything else only the drill and they are well overdue on that.

Why 2 BBs on same title, Confusing or what?

[ravin146] 14/7/2017 13:14

Yep.Hold very steady so far and no large sells so we could end blue like the other time we had similar sentiment rns!

[cpap man] 14/7/2017 11:55

Hey Andy is it 10% soon to be 20% of MKT CAP at time of announcement of funding or something else?

And is it within 12 months of previous funding?

Any extra info on LSE main board - standard listing fundings would be much appreciated if you have that info?

[andy] 14/7/2017 11:51

toon,

Generally speaking, listed companies do not turn down money if it is put (offered) on the table, so I doubt they could raise more, it's an odd amount for a start.

So I don't buy the "that's all we needed" statement, I think it's all they could get.

The Standard Listing 10% rule is about to change to 20%, so they will be able to raise more money in the future, as they would if they were on the AIM.

I would not expect them to be able to raise £9 million for a rig, clearly that's ridiculous.

[sea7] 14/7/2017 11:34

yep, I listened to that and in the context of it, he does talk about growing the company and not just organically. He hopes to conclude an interesting transaction in the next 30 days, which is over 30 days now.

Whilst it does seem like something else, a rig is an asset as well.

Guess we will have to wait and see.

[ravin146] 14/7/2017 11:27

Well said toon

[ravin146] 14/7/2017 11:23

Sea7, me and cash card may be joking about...my first point is serious.Listen to the podcast 10:30 onwards...it's an acquisition of an asset not a rig!https://audioboom.com/posts/6015778-andrea-cattaneo-ceo-of-zenith-energy-zen-14th-june-2017?utm_campaign=detailpage&utm_content=retweet&utm_medium=social&utm_source=twitter

[sea7] 14/7/2017 11:13

I'll second that toon,

had they simply said "raised money for working capital purposes" then I would be concerned, as that usually translates into, we are using this money to pay our own salaries.

They have raised a bit for capex requirements, which is good. Whilst Andrea's buying recently looks a bit contrived, he is still buying nonetheless.

[sea7] 14/7/2017 11:05

I don't want to see them focus on anything else, than getting both these wells operational. Personally, I think that even, someone stopping and making a coffee is a risk at this time!!

[bad gateway] 14/7/2017 11:01

That sounds good. Wouldn't like to see them buy another asset til they've got a few workovers successfully done in azer myself.

[sea7] 14/7/2017 10:53

As they can only raise 10% of the issued capital in a year without a prospectus, then they will only be trying to raise exactly what they need to achieve the objective.

There will have been cost overruns in these two wells, as they haven't gone to plan, so raising a bit for azer will probably cover the cost of a pump, maybe.

Field costs are a million a year, plus $3000 per well, per month. They generate about £100k a month free cashflow and didn't raise vast amounts of cash at listing, so every barrel counts here, at this stage of the game.

[sea7] 14/7/2017 10:48

I think the acquisition news was the rig.

[bad gateway] 14/7/2017 10:34

Worst case scenario is that the "producing asset purchase" is simply a cover to raise more cash which would make todays raise which was only partly to cover the deposit for the rig(take it the rest was for working capital purposes) look even more desperate.

[ravin146] 14/7/2017 10:25

Lolll trueThere was talk of a producing asset purchase. Let's see.

[cashandcard] 14/7/2017 10:21

ravin,

Presumably, the acquisition news was about the workover rig.

Lol!


Cash

[ravin146] 14/7/2017 10:05

https://audioboom.com/posts/6015778-andrea-cattaneo-ceo-of-zenith-energy-zen-14th-june-2017?utm_campaign=detailpage&utm_content=retweet&utm_medium=social&utm_source=twitter

[ravin146] 14/7/2017 10:04

Listen 12min in...acquisation news within 30days...where is it?

[andy] 14/7/2017 09:43

cash,

I presume that's all they could raise!

Doesn't say a lot really does it?

Please advise if he replies to your email.