Zenith Energy Share Discussion Threads

[brasso3] 22/1/2018 13:32

Woo hoo! :)

[garymegson] 22/1/2018 10:06

Twitter:

#ZEN #ZEE confirms successful sealing of the Z-28 wellhead in the Zardab field.

[gregpeck7] 21/1/2018 21:38

Agree I will stop. But you are wrong on the netbacks ;)

[brasso3] 21/1/2018 21:35

So the market has 6 months to wait before UEN makes another decent oil shipment. Lets hope oil prices are still high in 6 months time for UENs sake.

This is the ZEN thread so not sure why you are pushing UEN here!

[gregpeck7] 21/1/2018 21:25

PS as more people wake up to this, so will the share price, which has already started its move last few weeks...

[gregpeck7] 21/1/2018 21:24

True, but look at the last shipment which post dates that presentation.

NETBACK OF 45 USD at the higher price of our latest shipment ;)

Read it and weep ;)

Tanker shipment update

The price per barrel for the tanker shipment announced on 31 October 2017 has now been confirmed as US$62.15 per barrel. This pricing is based on the arithmetic average of the quotations for Brent DTD published in "Platts Crude Oil Marketwire" for the five days after the date of the bill of lading.

After taking into account all duties and taxes, transport costs and demurrage, the net proceeds from the shipment are expected to be approximately US$8.5 million, representing a net back of US$45.08 per barrel. This represents an improvement of approximately US$14.18 per barrel, when compared with the net receipts from our first tanker export in June of this year, which was affected by the fall at that time in the international oil price, as noted in our announcement on 28 September 2017.

After repayment from the proceeds of the tanker payment of the Petraco pre-export short term loan finance arrangement, announced on 7 September 2017, we anticipate that the Company's net debt will be reduced from US$12.3 million as at the end of June 2017 to US$3.8 million.

[brasso3] 21/1/2018 21:21

Greg

Looking at UENs presentation from Nov 2017 I note that the netbacks per barrel are $9.91 so that is probably why the share price is so low. If they are making such low netbacks when local oil prices are $61 that is a concern. Is does not matter if you are producing 2000 BOPD if the margins are so tight!

UEN 2017 financial statement:-

Net Revenue - £22.4m
Gross Profit - £2.4m
Operating Profit - -£0.2m

Conclusion: UEN struggle to make money even at >$60 WTI.

[ravin146] 21/1/2018 15:32

Good to hear...Cash raise of .5-1m looks if true very small. They could surely get that from instit investors.There are also warrant outstanding...maybe nudge those investors to convert by showing off good results from z-21.Sounds weird...I would have thought they donit later this year for the main drilling campaign.1m won't even pay for the salaries of any new hires

[thetoonarmy2] 21/1/2018 14:52

Ravin still holding and if I see some weakness due to the cash raise will pick up more have a load already, if they are needing this for lots of work overs it's got to be good as we will and get more and more production reckon z21 & 28 are going to be very good shame we couldn't wait for them to produce first before doing cash raise. I think this is going to be superb especially now they have a grown up in charge of drilling a operations but let's see what happens

[ravin146] 21/1/2018 13:09

Toon,So are you still holding or assuming the rumour is false?

[2prsimo] 19/1/2018 19:40

So there could be a placing at 7.5p or thereabouts?

[thetoonarmy2] 19/1/2018 18:56

Lets see what Monday brings then? :)Granny think they need money quick equipment and a load more workover's, apparently they were going to do a general placing but pulled it from retail investors as they have a couple or so "institutional investors" hope its not a bucket shop.

[sea7] 19/1/2018 17:07

RARE ALERT: Zenith Energy said to see equity placing
Wednesday, 17 January 2018, 5:00 pm

Zenith Energy, the Canadian oil and gas consolidation vehicle, may soon see a placing.

According to sources claiming to be familiar with the matter, brokers are attempting to place between £500,000 and £1 million at around a 15pc discount to the company's current share price.

However, it's not clear what the cash from the placing will be used for...

[bionictwat] 19/1/2018 15:54

Placing 15% discount

[grannyboy] 19/1/2018 15:30

There will be a fundraising at some point to go towards the asset they have announced..

I should imagine it will be after the z21 update and before the z28 result, because z28 won't be a gusher.

[brasso3] 19/1/2018 15:20

from the Betaville article:-

"Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville..."

[brasso3] 19/1/2018 15:12

I do not believe there is a placing coming. You are not being truthful that MMs do not want to buy. I can get a quote to sell 200k online at 8.53p right now.

If there was a placing of £0.5m - £1m then that would be around 4 - 8% dilution so hardly the end of the world.

[gregpeck7] 19/1/2018 14:57

If you like zen look at Uen, 2000 bopd 140,000 usd, almost no debt and 10m market cap... 60 to 85p last 7 days.Cpr imminent and drilling 23m barrel prospect.Tbh they look much better value than zen and they paid a 5c dividend a few months ago. I think the market has missed them.

[brasso3] 19/1/2018 14:42

Topped up again today. :)

[bionictwat] 19/1/2018 12:37

Placing at 15% discount coming story on betaville They were right about MATD

[brasso3] 17/1/2018 14:40

Zenith Energy
My recent visit to Zenith in Azerbaijan has at least meant that when announcements about wells are made I can picture the scene, today is no different, the Z-21 workover was demonstrated by the excellent Mike Palmer on site before Christmas. So, the workover began yesterday and the coiled tubing unit has been mobilised and will aim for TD of 3,982m where wellhead pressure has built up to 4,300 psi. On Z-28 the company are awaiting ‘imminent delivery’ of resin compounds needed to seal the wellhead after which activity will start here as well.

hxxp://www.malcysblog.com/