Zenith Energy Share Discussion Threads

[pretax2] 27/12/2019 16:32

Sea green - are you incorruptible?

[dgarvey] 27/12/2019 14:20

As pat of the deal Zenith take on in excess of 10m owed to ANGLO.

[stockport loser] 27/12/2019 14:17

National Lampoons trip to Congo, it would be comedy if he wasn't doing it with honest people's money, poor Norwegians have been mugged this year.

[fatfish] 27/12/2019 12:56

sea green

Is that 18 years ago

[bad gateway] 27/12/2019 12:20

Descended from Doges of Genoa. Wouldn't doubt it.
Of all the "perpetual" doges of Genoa who ruled for their lifetime, only one ruled for more than eight years. Many resigned or were driven out before taking office. Some failed to complete a single day in power. Between 1339 and 1528, only four doges were legally elected. "Genoese doges were essentially faction leaders, in charge of the defense of Genoa and her territory", Christine Shaw has said. "Some of them liked to see themselves as effectively lords of the city, but they were not." Genoa did not trust its doges; the ruling caste of Genoa tied them to executive committees, kept them on a small budget, and kept them apart from the communal revenues held at the "Casa di San Giorgio". Not surprisingly, the doges of Genoa have been less renowned than the doges of Venice.

[pretax2] 27/12/2019 11:58

Yep I read that too.
Sold out the next day.
Uninvestable.

[andy] 26/12/2019 18:08

frost1,


" AAOG will novate 80% of this debt to Zenith and will retain 20% on its balance sheet."



Where does that fit in then? (genuine question).

[frost1] 26/12/2019 15:07

Aaog have no borrowings.

[magtalo] 26/12/2019 14:08

Yes.that will go to zen as and when the congo government pays it.

[frost1] 26/12/2019 13:50

Mag aaog are owed 5 million dollars by the government.

[magtalo] 26/12/2019 13:08

"replace with a new contract"....
Yeah....a new contact between aaog and zen stating zenith will take on 80% of aaogs intercompany debt.

[andy] 26/12/2019 12:57

"replace with a new contract - the loan agreement has been novated"

[magtalo] 26/12/2019 12:49

As at June 30, 2019, the unaudited balance of the intercompany debt owing to the Company by AAOG Congo was approximately £12.47 million at the GBP/USD exchange rate on that date. Under the terms agreed for the Acquisition, at completion AAOG will novate 80% of this debt to Zenith and will retain 20% on its balance sheet.

[frost1] 26/12/2019 12:41

Aaog have no debt.

[magtalo] 26/12/2019 11:27

I wonder what zenith intend to do with the roughly £12m debt aaog have which zen will be liable for 80% of.

On paper this is a great little deal for zen.
Well 103 has had 3 independent reviews and all say the same .... sh*t loads of recoverable oil....but with zeniths track record....anything is possible.!!

[magtalo] 26/12/2019 11:08

Thanks bots

[pretax2] 25/12/2019 10:23

Xmas Eve
A good day to bury dilution and a risky acquisition.