Zenith Energy Share Discussion Threads

[brasso3] 09/7/2019 21:09

Loss making with production limping along at 200 BOPD. What would happen if oil fell to $50/ barrel? Surely ZEN has ran out of lives for near term placings as nobody could possibly take them serious now until they demonstrate some operational success.

[jungmana] 09/7/2019 21:03

On last results the company generates revenues of about $6m annually from operations in Italy and Azerbaijan. Though loss making but a good revenue stream there . Let's get on with the drill now

[sea7] 09/7/2019 20:32

brasso - nothing to do with the company - Andrea is tax planning and whilst the company gets a bit of cash out of it, Andrea can book losses even if the share price rises later on, under canadian options laws.

[brasso3] 09/7/2019 20:20

Clearly the cash position here is desperate so AC has no choice now but to sell stock at 3p and buy options at 7p to fill the company account up. This also suggest that his own personal financial position is rather poor (hardly a surprise based on what we have seen here). Is this admirable of the CEO or is it desperation? This next well is really the last throw of the dice here.

[sea7] 09/7/2019 20:07

remember - zenith is incorporated in canada and as such is subject to canadian rules and not UK rules.

[sea7] 09/7/2019 20:04

canadian treatment of options- very brief...

On the date that you are granted or receive stock options in an employer that is a publicly listed company, you do not have a personal tax consequence. However, on the date that you purchase the shares, you will get a taxable benefit equal to the difference between the exercise price of the shares and the market value of the shares on that date. You cannot postpone the timing of this taxable benefit.

After buying the shares, you have two choices: (A) You can immediately sell the shares or (B) You can hold onto them if you believe they will increase in value in the future. If you choose to hold onto the shares and sell them in the future for a profit, the profit made from the sale will be classified as a capital gain and subject to tax. Whether you sell the shares or hold onto them, taxes will be deducted from your paycheck to account for the taxable benefit you realized on the purchase of the shares.

However, don’t hold onto the shares for too long after purchasing them. This is because if the price of the stock drops you’re still liable for the taxable benefit realized on the purchase date.


and conversely, if the stock rises, Andrea can still book the loss realised on the purchase date.

[sea7] 09/7/2019 19:50

nope - tax planning - Andrea exercises options that are out of the money, then he can book the loss on his tax returns. The gap between the exercise price and the current stock price, is the loss he books, even though he sold stock he got in lieu of salary and performed a cashless exercise at the strike price, to exercise the options.

[andy] 09/7/2019 17:52

Quite bizarre.


I get that by buying the options he has put money into the company coffers, but to sell at 3p, and buy options at 7p looks ridiculous to me!


-------

he sold a total of 1,660,000 common shares of no par value ("Common Shares") in the capital of the Company at a price of GBP 0.03 per Common Share.


As per Mr. Cattaneo's previous transaction announced on July 4, 2019, he used all the proceeds of the sale to exercise stock options and acquire 688,797 common shares of no-par value in the capital of the Company, (the "New Shares"), at an exercise price approximately GBP 0.07) per New Share

[pjml] 09/7/2019 17:45

If you have been given the opportunity to purchase stock options, you may want to take advantage of them if you can afford to do so. But you should not go into debt to purchase stock options. ... You should also only purchase stock options if you are confident that the company is going to continue to grow and profit.25 Sep 2018

[jungmana] 09/7/2019 14:40

Read rns again

[woolybadger62] 09/7/2019 14:32

Chief exec selling before spudding something is up and prob be delayed spudding

[brasso3] 09/7/2019 10:19

AC up to no good maybe?

[fatfish] 08/7/2019 18:05

who would sell 400,000 shares when we are so close to spudding, don't say a distressed seller as its only 12k.
This share could double very quickly plus who knows how high it will go if we get a good gusher.
Yes I know they are taking their time but all is coming good slowly.

[neo26] 08/7/2019 15:42

Takin ridiculous amount of time to spud now.We still dont know if top drive installed.Come on zen give us something to smile about.

[wrtmf] 08/7/2019 13:04

i note that neither bloe nor zen are yet committing to a spud date for their respective operations. the gathering of equipment in this region being the reason??

[jungmana] 08/7/2019 11:07

2 wells t9 be drilled this year and up to 5 planned for next year. Will not be surprised to see AC turned from a sinner to a saint by punters in the near future

[sea7] 08/7/2019 09:56

Comparative analysis of the time structure maps for the Zardab, Muradkhanli and Jafarli oilfields indicates that all three oilfields form part of a larger, unified system with faulted anticline, which suggests the possibility of a single oil-water contact for all three fields within the Upper Cretaceous/ Lower Eocene formations.

zardab...

The best well by production tested from Lower Eocene/Upper Cretaceous zones was obtained from well Z-3. This well was drilled to a total depth of 4,300 metres and recorded an initial production rate of 420 m tons/day (3550 bopd). Z-3 was drilled on a wedge of high amplitude reflector of Lower Eocene/Upper Cretaceous age in an isolated fault block.

So, potentially a large unified system, with 3550 bopd shown in the upper cretaceous/lower eocene at z3.
C37 is drilling in to a large unexploited structure 200-250 metres deeper than the existing well into the upper cretaceous.

Could be a big find and would justify all this large kit we have.

[sea7] 08/7/2019 09:34

Geolog - mud logging, has the likes of Bp, shell, chevron, total, exxon and others as their client list.

[grannyboy] 08/7/2019 09:17

People appear shocked at the delay in getting a drill completed.....

This company is run on the lines of delay..delay..delay...excuses..excuses...excuses..

It's been the same for over two years....A leopard never changes it's spots ..

They could of course surprise everyone, and actually complete the 20/30 yards left to drill, and start to produce...It's to be hoped that the production numbers are worth all the waiting and delays that this company is renowned for, and the bblspd arn't a measly amount..

[jungmana] 08/7/2019 09:16

Just seen the tweet. Rns this week imo.

[pooler1] 08/7/2019 08:59

FFS, what else are they waiting for?

Hope the portaloo arrived on time!

[pooler1] 06/7/2019 22:42

I was thinking more like "ebay", just won the bid with 2 seconds left.

[andyalbiston71] 06/7/2019 11:44

Fairly sure they won't have gone to topdrivesrus.... granted they have taken longer than expected to get the bit turning, but jumping to conclusions helps no one, I am sure we will hear something early next week either way