Zenith Energy Share Discussion Threads

[muddy_40] 25/7/2023 10:33

👀MGS👀;

Oh dear

[muddy_40] 22/7/2023 13:35

Oh dear

A six million plus sell on Thursday. Is that TYB selling and following MGS out the door

Oh dear

[muddy_40] 10/7/2023 08:33

Drilling the courts...one way to make money...🐶
28054;

Wonder how that stripper wells in Texas are going...need a few to get to 3000 bbls a year.. maybe that old work over rig from AZ could help...yehaa🤠;🤠

TYB is such a 🤡🤡🤡

Any one 👀MGS..has he sold the puppy and left TYB holding..,,🤯🤯

Oh dear hang onto that 🥕🥕🥕🥕 🤠🤠🤠 and 🤡🤡🤡

[pugugly] 06/7/2023 18:35

ZENGAS: Absolutely correct but the trolls will continue ramping - Only got to look at history of where they have been and their success or otherwise - Share price chart could be a good indicator to help come to a reasoned decision. Of couse it could be different this time.

[zengas] 06/7/2023 13:56

If they get the $48m/£37m full claim it's about 1.6p before debt repayment and tax on 2.3b shares prior to the 2 US deals.

They've already started diluting on the first 2 US deals.

I reckon we will head for 3b shares and if another deal is done ultimatelty about 3.7 b shares could be in play in a year or so if he wants to acquire about 500 bopd at the same cost implications in the US. They need to be up about 500 bopd paying for the running of the company etc keeping the lights on. I haven't factored any cash raises to pay debt or needed for capex/working capital.

3.7b shares on $48m/£37m is about 1p/share compared to .375 of a penny now.

What's the debt level to come out of that ?

On the other hand if that claim is not fully successful, its a long climb on the US alone and if they are prepared to dilute for that, they imo will certainly dilute for any new deals in Africa.

On the basis of consolidation - if you can take the 2.3 or 2.4b shares back down by a factor 1:10 or 1:20 to say 230m or 115m shares it does not look as bad diluting by 40% or so at a stroke on a new additional US strategy and therefore maybe not so noticeable imo. I believe this will happen in some shape or form as they have both the authority for consildation and the ability to issue an unlimited amount of shares not to mention this being done twice in the past in its long history.

[zengas] 06/7/2023 13:50

If 86m shares can be issued to what they are paying for 24 bopd, what do you think the bonuses paid in shares will be for each 50 bopd reached from 75-125-175-225 bopd for the first deal in Oklahoma alone.

Imo it could be 100m at least for each 50 bopd and i can see this at 3b shares MINIMUM in no time alone. Heaven forbid he needs cash to spend on working them over if they can't pay for themselves.

If they go on to do a simalr deal and was expanded to 500 bopd overall on the the 3 deals (ie buying another 400 bopd - 160 bopd paid in equity would give away some 570m shares again at todays vwap share price).

A few hundred bopd barely pays admin alone never mind ongoing capex etc that has to come from production.

I've mentioned their history of asset hoppping before - and this might as well be doing 3 small deals splitting them in Poland, Germany or Spain from London.

Now they've split themselves operationally in Oklahoma and now Midland Texas with Midland being over 400 miles away at least to the Oklahoma Texas state line and looking at assets in California another 1,000 miles away from Midland.

Absolute madness when they are trying to conserve cash but hey forget about more confetti when you have licence to do so.

If they get the $48m it will be a lot less when it's taxed and then split over 3-4 billion shares compared to 2.3 billion before these 2 small US deals.

[muddy_40] 06/7/2023 12:43

Now just waiting for that genius TYBs intelligent rebuttal of Zengas post on the other place..lol

MGS?? AWOL

Oh dear

[zengas] 06/7/2023 11:47

So who said there wouldn't be more dilution.

Here they are giving away which i beleive will be about 85m+ shares for 24 bopd !

Acquisition cost $1,027,500.

$616,500 in cash and $411,000 in equity satisfied by the issuance of equity to the Seller to be admitted to trading on the Euronext Growth of the Oslo Stock Exchange, priced at the average closing price of the last 5 trading days prior to the achievement of Completion.

That converts to £322,500 approx at £1/$1.275 and at the current price range of .375 of a penny = potentially 86m new shares to come. Is there an greed lock-in period or will they be sold into any rise.

60 bopd and no doubt it will take a fair chunk of any cash made, to get this up to 100 bopd.

I will say again what i said back in March - the company had 81.93m shares 9 years ago which was consildated to 8.93m (dilution by a factor of 257-1 as i said then - even more now).

By Dec 31 2013 there was a consolidated 8.93m shares in issue.

It's a merry go round for the unfamiliar.

But forward to the listing on the offical list of the UK LSE in 2017 with "its entire Common Share capital, consisting of 98,564,867 Common Shares, will be admitted to the standard listing"

Now after 6 years and some 2.3 billion shares in issue prior to these US deals -

It is now reduced to issuing almost 86m shares for to pay for the 40% it can't pay in cash - for 60 bopd and the reserves will be extremely small without question for that kind of money - especially in oil rich USA.

Seriously this is absolutely ridiculous performance that needs called out having to pay that amount of equity for which is basically buying 24 BARRELS OF OIL PER DAY.

Also for the fist US acquisition they say they will pay bonuses in equity on reaching 75 bopd etc and so on in 50 bl intervals up to 225 bopd if acheived.

I repeat i expect significant dilution to come as the same historical dilution/consolidation actions which was again passed at the recent AGM - ability to issue unlimited shares and consolidation - and if proof were needed here we see it on the back of these small US deals.

There was some 2.3 billion shares before these 2 US deals were announced and it shows the level of dilution to be added for such small amounts of oil - this is why the share price drifted down so low to accomadate the vwap imo.

It's appallling performance and the CEO should go - but its a one trick pony with AC at the helm doing what he does best - destroying shareholder value.

[tomboyb] 05/7/2023 11:55

Zenith Energy Ltd Second acquisition in USA
05/07/2023 11:35am
UK Regulatory (RNS & others)

Zenith Energy (LSE:ZEN)
Intraday Stock Chart

Wednesday 5 July 2023

Click Here for more Zenith Energy Charts.
TIDMZEN

RNS Number : 0718F

Zenith Energy Ltd

05 July 2023

July 5, 2023

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Second acquisition in USA

Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA) , the international energy production and development company , is pleased to announce that its newly incorporated fully owned subsidiary in the State of Texas , Zena Oil & Gas LLC, has conditionally agreed to fully acquire a portfolio of mineral leases and oil and gas wells in the State of Texas, United States of America (the "Acquisition") from the wholly owned subsidiaries of Beam Earth Group Ltd. (the "Seller").

Terms of the Acquisition

The Company has conditionally agreed to fully acquire, subject to a definitive purchase and sale agreement ("Completion") certain oil, gas, and mineral leases and oil and gas wells for a total amount of US$1,027,500 (the "Consideration").

The Consideration will be payable 60% in cash, representing the amount of US$616,500, and the balance of 40% will be satisfied by the issuance of equity to the Seller to be admitted to trading on the Euronext Growth of the Oslo Stock Exchange, priced at the average closing price of the last 5 trading days prior to the achievement of Completion (the "Equity Consideration"). Admission will also be sought within 12 months of any issue under the Equity Consideration to the Main Market of the London Stock Exchange and the Standard Segment of the UK Official List.

The Seller have agreed to retain the Equity Consideration for a minimum of three months from the date of Completion. Zenith will hold the right of first refusal in the event of a possible disposal of the Equity Consideration, subject to the terms to be agreed at Completion in the definitive purchase and sale agreement.

Acquisition Highlights

-- The Acquisition comprises of 155 oil and gas wells located in the vicinity of Midland (TX) across licences named Corsicana, Powell, BrookLaw and Sun Valley.

-- 47 wells are currently active with a daily production of approximately 60 barrels of oil per day ("BOPD").

-- It is expected that production can be increased to an average rate of 100 BOPD with light workover and field rehabilitation activities within six months from Completion.

-- Located in the State of Texas, a prolific oil and gas petroleum system with favourable fiscal terms, relatively low production costs and the ready availability of technical expertise and equipment.

-- Zenith will commission a Competent Person's Report in compliance with Canadian securities laws, specifically the C OGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities - to obtain an updated reserves evaluation for the Acquisition.

Andrea Cattaneo , Chief Executive Officer, commented:

"We are pleased to have conditionally agreed our second acquisition in the USA.

Texas is a favourable oil and gas jurisdiction with many attractive qualities for junior operators such as Zenith, specifically with regards to fiscal terms and the availability of equipment and technical expertise.

We look forward with enthusiasm to commencing our activities in the State of Texas, one of the areas in the world most synonymous with hydrocarbon production activities.

It is our expectation that we shall soon achieve 'critical mass' by way of additional acquisitions, selected following a rigorous due diligence process, to successfully achieve Zenith's growth objectives."

About the Seller:

Beam is currently selling O&G assets to focus on service activities with a strong impact on GHG emissions control and reporting ( hxxps://www.beam.earth ).

Further Information:


Zenith Energy Ltd
Tel: [phone]
Andrea Cattaneo, Chief Executive E: [e-mail]
Officer
BlytheRay - Financial PR/IR Tel: [phone]
Tim Blythe, Megan Ray, Matt E: [e-mail]
Bowld
Allenby Capital Limited - Financial Tel: + 44 (0) 203 328 5656
Adviser

Nick Harriss

Daniel Dearden-Williams
Miriad Limited - Media Enquiries Tel: [phone]
Zak Mir E: [e-mail]

Notes to Editors :

Zenith Energy Ltd. is a revenue generating, independent energy company with production, exploration and development assets in Africa, the Middle East and Europe, including electricity generation in Italy. The Company is listed on the London Stock Exchange Main Market (LSE: ZEN) and the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA).

Zenith's strategic focus is on pursuing development opportunities through the development of proven revenue generating energy production assets, as well as low-risk exploration activities in assets with existing production.

For more information, please visit: www.zenithenergy.ca
Twitter: @zenithenergyltd

LinkedIn: [...]

[muddy_40] 04/7/2023 20:56

TYB missing in action..must have sold at the bottom...oh dear. What a Muppet

Anyone 👀 MGS

[muddy_40] 03/7/2023 21:12

They have wheeled out Florida and CITM today...

👀MGS,㈆4; lost in action

Drilling in the court room RNS..lol

[muddy_40] 29/6/2023 22:07

dead 😺 bounce?

Anyone 👀 MGS

Maybe sold out and left TYB holding the 🐥

Oh 🦌

🥕🥕🥕🥕

[muddy_40] 27/6/2023 20:50

It only has to 10 bag to the point I sold at back in the day..bet TYB still in profit even when he bought at 0.75..work that one out🧐🧐;

Anyone seen MGS🤔

Oh dear

[mls678] 27/6/2023 17:32

Come now?!

[muddy_40] 27/6/2023 11:44

Oh dear...

[the patriotic irishman] 27/6/2023 11:02

oh dear 😲


27-Jun-23 09:47:45 0.28 4,574,262 Sell 0.30 0.35 £12,808 O



3p in a heartbeat eh 🤯


yeah BUT


ONLY AFTER the AGM approved 10:1 share consolidation 😉




I did say way back then in the 1's


should have bought 🥕🥕🥕 instead 🤣 🤣 🤣

[the patriotic irishman] 23/6/2023 18:11

Farrugia you can find the consolidation details on the Zenith website and/or via RNS

but in short, YES


RNS Number: 6392S
Date: 10 March 2023
Subject: AGM Notice

The Company is pleased to confirm that its Annual General Meeting and Special Meeting ("AGM") will be held on Friday, April 14, 2023, at 12:00 pm (MST).

Among the resolutions presented at the Annual General Meeting will be a change in the number of issued and outstanding common shares ("Common Shares") of the Company by consolidating such issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for each 10 existing Common Shares (the "Consolidation"). The Company will issue a separate regulatory news announcement with key information regarding the Consolidation as soon as the relevant dates have been fixed.



RNS Number: 3984W
Date: 17 April 2023
Subject: AGM Results

Zenith Energy Ltd. is pleased to announce that all the resolutions presented at the Annual General Meeting ("AGM") held last Friday (April 14, 2023) at 12:00pm (MST) have been passed.




TYB aka advfn's Tragic Man promised everyone the share price would be '3p in a heartbeat' when it was trading at circa 1.4p and I would now (albeit can't say I did at the time) wholeheartedly have to agree with the Italian Stallions most fervent of all his subservient servants


but only


ONCE CONSOLIDATED 🤣 🤣 🤣

[farrugia] 23/6/2023 06:38

has a share consolidation been approved here?