Zenith Energy Share Discussion Threads

[cashandcard] 18/2/2018 12:09

Sleveen,I agree, I think at least one of the wells has a great chance of flowing at well above average rates. Which is why I am still here. But for me, I've decided I'm calling it a day. I've seen enough here and will use any positive Zardab well result as an opportunity to close my position. I cannot trust the boss, his MO seems to be chasing grand projects while diluting shareholders in the process. Too many promises, very little overall delivery and he has that wiff of salesman BS about him.Cash

[sleveen] 18/2/2018 10:20

Look at the Q1 and Q2 results and compare with Q3 results.

None give a specific operational update only a strategic view.


If you believe that the Z wells will produce 200-500 bopd then ZEN are a hold at least.

If not ZEN are a sell.

My money's on at least 2 of the 3 wells producing at the above rates.

IMO.

[sleveen] 16/2/2018 17:41

Man U will pan Huddersfield.

I always enjoy a red stripe v black stripe (wrestling) match :-)

[sleveen] 16/2/2018 17:39

circa C$2.8m (US$2.2m) generated from 9 mths ops...not too shabby compared to many AIM O&G tiddlers.

[ravin146] 16/2/2018 15:01

Agree.Why are we being told now of this chemical issue? Is this not against FCA rules, that they did not declare this information?Far to many lies from this corrupt textiles salesman imho.This needs to be run by a proper oil man.Time to remove AC at next AGM?

[buffythebuffoon] 16/2/2018 12:01

Two mates are geordies. They would have needed a whole glass with a mind altering substance in the drink to believe they could beat Man Utd.

I’m sure we are all fully invested in the feeling you have in in your water though.

Let’s hope it’s not a prostate problem.

Buffy

[thetoonarmy2] 16/2/2018 11:49

I did know that Buffy as I say I'm a half full glass man my self. :) Betting on RNs next week anybody???

[buffythebuffoon] 16/2/2018 10:55

Toon,

Yes, the 3Q results have full disclosure. They have to.

I think we’re basically on the same page, but my patience is wearing thin. I can take the charm offensive, if there was a single item of positive news.

He didn’t volunteer the bad news about the lack of supply of the ESPs until pressed at the first of the two recent presentations.

He specifically said we’d have an update on Z21/28 in the middle of Feb, having had nothing in weeks. As I’ve said, if it comes out on Mon or Tues then ok. Are you really expecting it though?

We can both see the investment case, but there are lots of ways a CEO can affect our returns. Buying a new asset and severely diluting us before the workovers results is one way.

I expect the next thing you’ll be telling us is that you knew you’d beat Man Utd..... 😄

[ravin146] 16/2/2018 10:03

Granny,I agree...I've just read the rns...just noted the chemical issue.Question is, does this impact workovers of z-28 z-21?The statement suggests it impacted but that was production on well prior to Dec 31st...so I am assuming the two wells are fine

[scotty666] 16/2/2018 09:14

Seems the King of Socks is not fairing much better here sadly.

[cashandcard] 16/2/2018 08:59

Faulty Chemical, ....what gibberish!

Very little forward guidance on operations in that update as many of you have stated. More of the same or a case of 'darkest before dawn'? Surely, Z21/Z28 cannot be that far away, they've been on Z21 for a month now.


Cash

[sleveen] 16/2/2018 08:36

Bought a few below the recent placing price. Nice.

[thetoonarmy2] 16/2/2018 08:24

nametrade. Yes as I said above but I think wanted any bad news out now, it leaves him a good opportunity to come out with good news on Z21 Z28 its Mid Feb now so should be any day now.

[coscos] 16/2/2018 08:19

Looks like bad news on a Friday with hopefully good news next week.I'm sure AC knows he's in last chance saloon with private investors.

[grannyboy] 16/2/2018 08:08

"Let's give them the benefit of the doubt"

These clowns have had the benefit of the doubt for over a year now...will it get any better??...

[nametrade] 16/2/2018 08:06

Tta2,
Don't you think it's strange they don't even mention these workovers at all, not even a mention?

Edit.

Not even to say, we’re working on the wells and results are imminent/ next month.... etc etc...

[ravin146] 16/2/2018 08:03

Let's give them the benefit of doubt.This looks like a standard obligation that they need to release q3 results.Hopefully we'll news next week.Will read full results later today

[buffythebuffoon] 16/2/2018 07:49

I just got an email from an investor friend who was absolutely steaming. I promised to restrain him if we get the chance to see Cattaneo present again in London.

He’s always been of the opinion that the man is a very sophisticated businessman and would look after the company. I pointed out that I agreed, but for whose benefit.

As an ex advisor to certain Soviet countries, it is clear to me that the CEO has the capacity to do what’s right for him at the expense of anyone else, if necessary.

When asked specifically about results of the workovers at Z21 and 28 at the Ritz, he replied “mid Feb”. I remember being disappointed, as I was expecting results in early Feb.

Was he being disingenuous, knowing the 3Q results would be out then?

Being married to an Italian, and travelling extensively around the country over the last thirty plus years I am fully aware of the charm that businessmen can exude. I’m also aware of how easily they smile, but how quickly that disappears. I’ve been at two of his presentations, and it’s full on. I must admit, my immediate thought was that regardless of the investment proposition I should just get out, but greed got the better of me. I now think it’s a small black mark on my ability as an investor. I should have trusted my instincts.

Let me make it clear that I still think it could be a good investment, but I have learnt that there are multiple ways of being shafted by company decision makers, so I will be selling. Of course, the dilemma is whether the workovers results are being held back because there is good news coming. If there were more bad news surely he would have buried it in these results.

There’s a positive note to end on.

D*mn, I forgot about the grammatically dubious ‘faulty chemical’....

Buffy

[buffythebuffoon] 16/2/2018 07:27

More BS.

I’m not even sure ‘Faulty Chemical’ is grammatically correct....

No mention of Z21 or 28. No rig until end of 2018 at best.

Appalling.

We may be looking at dilution to buy the new assets before we get news on the workovers.

Of course news could come any time, as has pretty much always been the case, but it’s 16th Feb and no news on the workovers. When we asked about news on the workovers and he replied ‘in mid Feb’ was it just more BS knowing the 3Q results would be out then?

I promise, if he does another presentation in London he will not be given an easy ride. He’s taking shareholders for a ride with his half truths. Let’s see how long the fake smile is maintained.

Buffy

[ravin146] 14/2/2018 20:15

If I'm honest the questions asked at the last investor presentation were pretty sub standard.I'm not sure where alignresearch and that Dan bloke at the seminar stand as they were slagging the company off sometime last year...suddenly went quiet and now seem very quiet.All I say is PI just be careful with market research, commentators etc.Stick to your own research as at the end of the day they'll be the ones that cash in quietly and throw their toys out when it suits them.It is still staggering that there has been little holdings updates. The idea to buy another asset before this asset has even got any material oil produce is odd.Someone please explain why is this company not run by an oil man?

[buffythebuffoon] 14/2/2018 10:53

Sssshhh...

Buffy

[cashandcard] 14/2/2018 10:33

buffy,


I have been invested for a year and am heading that way also. Off at the next available opportunity. Too many promises, too little in the way of delivery, only a few small results to speak of last year - undone by yet more setbacks and dilution. Main problem is no confidence in the boss, full of BS and never seems to miss an opportunity to dilute. That's not to mention grand plans of taking on new assets when he's achieved next to nothing on the current lot.

PS, see you over at i3e.

Cash

[buffythebuffoon] 14/2/2018 10:12

I’m afraid that some people just get the reputation for having verbal diarrhoea.

Cattaneo is certainly a very experienced businessman, but he is very loose with his words.

Some here think that he shouldn’t be giving out some of the information that he does at presentations. I’m afraid there is one reason why he doesn’t RNS them; it’s because the events relating to that information rarely seem to happen, and when they do, they happen on a timescale well outside the one he suggested. Better that thirty people are misled rather than a thousand or two.

I’m afraid that I can’t invest a serious amount of capital here regardless of how low the price goes. I’ll likely jump off sometime before the summer. Whether this is because of Z21 and Z28 or just zzzzzzzzz’s I couldn’t say at this point.

Buffy

[cashandcard] 14/2/2018 09:36

Almost a month ago, Mike Palmer stated:

"We are at a very exciting juncture in the Company's operations in the Zardab field, especially as we are confident regarding the success of these operations. The next couple of weeks will be instrumental in achieving our oil production objectives. I am very much looking forward to a favourable result in both these operations to reward the significant work performed to date"


They really need to get there backsides into gear, we are halfway through Feb now, approaching March fast.


Cash