Zenith Energy Share Discussion Threads

[muddy_40] 29/1/2024 11:30

Just incase they delete his post again..I thought I would post here

But having been in both Kazakhstan and Azerbaijan, if they think Kaz is more open to Expats. they have another thing coming, and really there is no problems with Azeri and Kaz employees/workforce, if they have the correct guidance etc.

The correct Guidance stopped when Mike P was let go, he was the only real chance they had of doing it right.

I think AC himself said he wanted to try and do everything without service companies...lol

Oh Dear

[muddy_40] 29/1/2024 11:25

Ezhik Premium Member

Posts: 6,520

Price: 3.10

No Opinion

RE: ReluctantlyToday 11:13
Yep. Well, most of my posts here get deleted, when you post the truth, someone doesnt like it. The excuse about the well data applied mainly to the work attempted by the small mobile workover rig (s) that they had on loan from SOCAR. These were supposed to be low cost/low reward but aimed at building from the 350 or bbls a day up to 1000 over a 12-24month period. Maybe there were inaccuracies, maybe not, but also it shouldnt have been a surprise to find that early casings were corroded and the cement behind them had deteriorated, so when they went into the wells, they pretty nuch disintegrated. Some pre-entry logging/measuring and testing may have identified the issues before attempting the workovers - in hindsight. At the time, whilst each hurdle or failure came about- being an ex drilling person I understood the issues and supported Zen with comments on the bb and never criticised. There were others that wanted AC's head on a pole but that wasn't me as I took the view that wasn't the one operating the rig. I also agree with your post that the 'deal' with employing Azer labour also caused some difficulties--whatever the issues were we really dont know for sure, but at one time there were about 200 employees mentioned in the company reports which if accurate was completely bonkers -- imposed by Socar as you say.

I just wanted to put you right on the BD 260 which ended up not being utilised and its purchase was not such a good move- in the end. The motivation and rationale for buying it at the time appeared to make sense and if they had actually used it to any degree may have proven to be positive but it only came out of its box once, it did operate well and despite it being alien to the drill crew, they, together with representation from the supplier managed to get to where they wanted. How they managed to make a complete mess at C37 will remain a mystery.

There was a package of drill equipment bought to support the rig operation therefore in theory, all of that should still be available and it won't need to be bought again, but will need re-commissioning as it has been sat idle for several years

Kazakhstan-- on the face of it, less constricted as you say. If they manage to bag a decent lump of dirt there I would contract out the drilling process-at least at the start and then bring in their own after any success.

ATB

[muddy_40] 27/1/2024 08:33

Exactly TPI and I think MGS would be thrown in that also.

It is not possible 5 villages could have thier idiots singing from same hymn sheet

Oh dear

[muddy_40] 26/1/2024 16:27

He has no shame missing out the RNS and then posting drivel
What a charade of a blog that is posts deleted if it is not pumping..shut it down
Came back as a couple guises also, bet you could never see TYB, Investyoursmart Florid, aljarkaram in the same room at the same time..

👀 MGS 👀

Oh dear

[the patriotic irishman] 26/1/2024 14:29

hilarious

3 posts on LSE get deleted and abracadabra UP POPS The Tragic Man 😉


rolling rolling rolling

keep em Kazak 🥕🥕🥕 rolling


30p in a heartbeat eh 😲


still waiting for his promised 15p (post consolidation) from 3 years ago 🤣🤣🤣

[muddy_40] 25/1/2024 17:13

Looks like TYB, Investyoursmart and Florida have the day off. Well no comment on the RNS

👀 MGS 👀

Oh dear

[the patriotic irishman] 25/1/2024 10:33

LOL muddy

it should come as no surprise (to the realists) the Italian Stallion is having to offer a much greater incentivised 🥕🥕🥕 swap given they don't currently have the cash to redeem those existing bonds 🤭


mind you 15% per annum is good return on any invested capital however the biggest risk (as is with most bonds other than any government ones) is will you ever be able to sell them on to someone else or get your cash back when they are due ?


hey imagine IF the bondholders said err NO THANKS, just show us the money and NOW 😲


30p in a heartbeat eh 🤣


me thinks, the end is nigh 😉

[muddy_40] 25/1/2024 09:04

Speaking about 🥕🥕🥕. Nearly 15% bond..

Other place is quiet 🤫🤫

,👀 MGS 👀

[muddy_40] 19/1/2024 10:20

I wonder who is the Chairmen, CEO, FD and on the BOD of the Leopard.

Since it is going to a cash cow

Maybe TYB...LOL

[muddy_40] 18/1/2024 17:17

Wonder what mgs thinks of that deal

👀 MGS 👀

[muddy_40] 18/1/2024 14:56

Never seen that one coming out of the left side, lots of detail.

Wonder if it is 7 stripper wells producing a couple bbls a day or 7 gushers producing 10,000 bbls a day yehaaa.....

by the buying I would say the former,

a carrot never changes it spot---see what I did there...or LEOPARD

Oh dear I will get my coat..

[zengas] 02/1/2024 13:22

BG

It's not my intention to knock the compAny over the warrants at all. I pointed out what they have to convert and my calculation was potentially 500m as i said in the earlier post.

Further i accept that 55m appear to have expired and i've actually tried to find where warrant excercises were reported in the past history. I was actually waiting in case they issue an rns or in the next update that some had been excercised re my early January reference.

With the new $25m bond, will they issue any in regard to that. It is strange that no warrants have been excercised in the past when they most definitelty can be at 1-2C but no bad thing though i find it hanging over the company and as a potential investor something to bear in mind as to how much dilution could take place so i'd like to see the terms of the bond and if we still end up with as many warrants and price - we don't know.

As for ambulance chasing - the accounts are there for discussion -

Under $900k end Sept with cash burn/juggling since. What's left now ?
Clearly states the principal way is to issue more equity.
Needs $1.8m to complete on Devonian around mid - 3rd week Feb.
Yes a $25m bond will be helpful, but it's like revolving on a new credit card paying off a 2nd one imo when there is limited income to cover the expenditure.

I accept they have a lot of potential cash to win but how long can they keep running like this until they actually get a win and eventual pay out ?

Why the need to get involved at RBD (10/1/24) as a director ad possible CEO ? (I have my own thoughts that i won't say publically. Is this not sidetracking and not keeping an eye fully on the Zenith ball ? He did say in an interview on a previous asset that they should have been more hands on when it came to it.

What's Leopards function and how will they raise cash for assets versus Zenith as the owner and how will that affect the Zenith equity in assets ?

Lastly the share price has matched all this uncertainty regardless of the potential for future wins all the way now to 2.85p (.285p pre consolidation).

He needs to convince people and put out a much more detailed presentation.

Some of the things done under a standard list would not have been gotten away with under AIM imo.

[bad gateway] 01/1/2024 21:47

Odd ZEN. You're using warrants to knock the co. claiming you've researched well and don't know the amount and timings of those already expired.


ZEN had 529,395,330 warrants to be issued April 1st 2022.
By 30th Sept 2023 298,033,092 had expired unexercised leaving the 274,839,785 that you picked up on from ambulance chasing your way through the results.

Another 55,176,667 expired early Dec leaving 219,663,118 to be issued.
There's 92,094,691 expiring 17th Mar 24 which given ZEN hasn't had any of its warrants exercised since April '22 will likely expire unexercised too leaving 127,568,427 in play.

These 127M have a very low exercise price but would only expect them to be exercised should ZEN successfully purchase at least the first 50 percent of Devonian, get the drill in place and have a very positive result proving up a large part of the promised resources for this megafield they're claiming to have.

Presuming that their both winning and being paid out for some of the court cases they're involved in will also garner interest as I believe the no's were fairly high but unsure on amounts and timings there so will leave that for another day's discussion.

Can't see the market buying the story en masse (or zen shares) til either of those scenario's plays out so barring what admittedly is potentially very good news think they'll continue to expire unexercised here.

P.S seems to be no indication they issue warrants in Jan historically not sure where you've picked that concern up from?

[zengas] 01/1/2024 18:53

BG no haven’t checked and waiting to see if there are any warrant excercises now we’re into 2nd Jan. I do wonder if there will be any new warrants attached to the planned 25m bond and if so what price attached ? Therefore could leave just as many as before ? My figure in use was around 500m in a previous post. Near 700m is what Zenith use.


The RBD vote on the 10th will be important as I think it has meaning in the context of Zenith and Leopard itself and if AC were to be voted onto RBD and their assets.

[bad gateway] 01/1/2024 14:36

Think they believe you more to be a hater than a liar zen and to be fair when you do take a stance on a share you do get a bit passionate about it. Still remember all those long posts on SAVE where you were so bullish it was almost unreal.

Have noted you haven't addressed the 55m warrants already out of date and still have them in your no's for future dilution. Is there a reason for that as it seems pretty clear they're a non event now?

[zengas] 01/1/2024 14:11

and another from me that was removed. (Either they cant read the accounts or hoping that nobody dares say any thing and why i think they were released just before market close Friday. Point any thing out and your trashed as a liar despite it being there in the accounts).
-------------------

Be interesting to see if they can get Devonian over the line and drilling is at least 6 months away imo. There are other major factors at play and the use of Leopard is now interesting.

I think the 10th Jan could be an important day for AC if not for Zenith but you have to study the background story to this and also now Leopard as a board/directors/management is to be set up there as well. Could he be significantly involved at all 3 and as a result very well salaried ? Ultimately what will or could happen to Zenith as a result ?

I've looked doubly hard at the 274m outstanding warrants at Zenith which seem in the money at the current ex rate at 1.78p/3C Cdn. ?? Will the shares trickle down to that in price if warrants are excercised ?? I don't know but if he did get them exercised there's a money supply but also potentially some 500m shares in issue. A high ask given the remaining warrant life over the next 8 months.

Next 10 days -Proposed AC CEO at Reabold and how they view him at 8:16 in

but

28/12/23 RNS From Strand Hanson.

The Company has been advised by its Nominated Adviser, Strand Hanson Limited ("Strand Hanson"), that its independent due diligence process, on the Proposed Directors, as required by applicable regulations, remains ongoing. However, as stated in the Circular, in the event that the resolutions in respect of the appointments of the Proposed Directors are passed and Strand Hanson has not completed the required due diligence to its satisfaction, Strand Hanson has informed Reabold that it expects that it would be required to resign from its role as the Company's Nominated Adviser with immediate effect. Should this be required, in accordance with AIM Rule 1, trading in the Company's ordinary shares on AIM would be suspended following the closing of the General Meeting on Wednesday 10 January 2024.

and

29/12/23 RNS Glass Lewis Recoomendation

"We are pleased to note that the Glass Lewis Proxy Paper report, along with the ISS Proxy report, recommends that shareholders vote AGAINST ALL resolutions, consistent with the current Board's recommendation
==========================

From Zenith

Zenith is authorised to issue an unlimited number of Common Shares,

The Company had 231,030,237 common shares in issue and admitted to trading on the Euronext Growth of the Oslo Stock Exchange, the Main Market of the London Stock Exchange and OTCQB, as of September 30, 2023.

As of September 30, 2023, the Group had 274,839,785 warrants outstanding and exercisable at a weighted average exercise price of CAD$0.03 per share with a weighted average life remaining of 0.67 years.

* Zenith intends to rename CYAP, will appoint a new Board of Directors reflecting its new ownership, and will utilise CYAP for the purpose of acquiring energy production and development opportunities in the US.

* CYAP announced that it had changed its name to Leopard Energy Inc during the month of December 2023

[zengas] 01/1/2024 14:05

Well there's a certain few on LSE who want any discussion removed around the accounts which after all came out of Friday just after 12 noon prior to close.


I had posted this to a poster who accused me of lying

Once again i must correct your total lack of knowledge as an investor or your propensity to be outright misleading not to mention calling me a liar.

You have not even got the basic grasp here yet you continue to mislead.

His post to me where he says 29/12/16:30 quote - "You claimed that we were required to pay $10m to Devonian Petroleum, then implied that we did not have the money and payment was imminent. When in fact we are only required to pay a maximum of $2m (already paid), plus the drill preparation costs to a maximum of $3m, up until the first well is completed."

My reply - As i said yesterday i did not say they are required to pay $10m full stop. Secondly you are completely misleading, downright lying or just plain stupid that the $2m is already paid. They have only paid $200k of that and are required to pay the balance $1.8m in 60 days from 20/12/23 so must be met by mid/late Feb- yet have the nerve to call people who research the company despicable liars .

Furthermore i will repeat from yesterdays accounts release

The $4.32m CDN refund from OMV was refunded 4/9/23. 

3 weeks later at 30/9/23 - they had $843k cash.

What's the picture now 3 months later as of today. You only have to look at the admin costs etc on a half year burn rate to see that there is little cash.

Add $1.8m needed to close on Devonian (in barely 6 weeks which incidentally is about the same amount just to clear its own debt re 2022 companies house accounts).

They need drill pipe, fluids etc over and above just supplying their own rig.

Maybe Leopard in the US will ride to the rescue because if Zenith doesn't raise cash for the US acquisitions it's surely going to be them imo. Will AK be Chairman there and CEO at Zenith ? Wait and see approach when the directors are appointed at Leopard but hopefully both companies don't mean a double salary on the same assets and surely not i hope.

[bad gateway] 01/1/2024 12:47

Quite happy to see facts on here ZEN thanks. Appreciated.
Does look like 55 million of them expired 6th Dec 23 though and can't find an RNS post consolidation to state they've been exercised with another 92 million due to expire mid March.
Wonder if they'll be exercised given the low volumes the stock gets nowadays. Might be a case of its one thing getting cheap shares quite another trading them on?

[the patriotic irishman] 29/12/2023 13:59

LOL muddy, the Italian Stallion will be a busy bee IF he gets voted into RBD 🙄


meanwhile back in the Zenith world, WHAT PRICE IS THE WHIP ROUND 😉


The Group’s cash flows from its Italian operations will be needed in the near term to finance the operations and repay vendor loans.

If the publicly announced acquisitions in the Republic of Kazakhstan and the USA will be successfully completed, the future revenues generated from these assets will be required to fund the Group’s development costs and activities.

At this time, Zenith’s principal source of funds will therefore remain the issuance of equity.

The Group’s ability to raise future capital through equity is subject to uncertainty and the inability to raise such capital may have an adverse impact on the Group’s ability to continue as a going concern.





less than $600k in the bank and another $1.8 million Kazak 🥕🥕🥕 needed soon 🥳


30p in a heartbeat eh 🤡


oh dear 🤣🤣🤣



here's to a happy and prosperous new year to all the ADVFN realists 😎

[muddy_40] 29/12/2023 13:49

Happy New year to the Normal people out there..and good luck to the 🦃🦃🦃

Oh dear 🙄🙄

[muddy_40] 29/12/2023 13:47

Oh dear. It will be all forgotten about by the time the market opens🤡

Oh dear looks like the 🦃🦃🦃 at RBD are voting for Xmas 🎄🎄🎄

KyleSnyder

Posted in: RBD

Posts: 202

Price: 0.1075

No Opinion

FINAL RESULTS VOTING28 Dec 2023 20:18
WHO DID YOU VOTE FOR

Sort by most popular

1

SATTAR & CATANEO

266 Votes - 65%

2

OZA & WILLIAMS

141 Votes - 34%

3

DIDN'T VOTE

3 Votes - 1%

Total Votes: 410

So it seems the retail investors want Oza and Williams out, and Sattar and Cataneo in. So it comes down to the institutional big investors, if they’re 50 50 then it’ll be an easy win for Sattar and Cataneo

[the patriotic irishman] 29/12/2023 13:26

HIGHLIGHTS 🥕🥕🥕


REVENUE = DOWN
The Group generated revenues from oil and natural gas of CAD$1,362k (2022 - CAD$11,571k)


PRODUCTION = DOWN
During the six months ended September 30, 2023, the Company produced 1,789 barrels of oil from its Tunisian assets (2022 - 90,591 barrels)


OIL SALES = DOWN
During the six months ended September 30, 2023, the Company sold Nil barrels of oil produced from its Tunisian assets (2022 - 79,223 barrels)


LECCY SALES = DOWN
During the six months ended September 30, 2023, the Company sold 4,350 MWh of electricity produced from its Italian assets (2022 - 5,309 MWh)


GAS SALES = DOWN
During the six months ended September 30, 2023, the Company sold 5,190 mcf of natural gas produced from its Italian assets (2022 - 5,623 mcf)


CONDENSATE SALES = DOWN
During the six months ended September 30, 2023, the Company sold 120 barrels of condensate produced from its Italian assets (2022 - 173)




ONLY balance sheet item that's UP are the COMPREHENSIVE LOSSES x 8 🥳


TOTAL comprehensive loss for period $7,946,000 from a previous period $1,059,000




30p in a TYB heartbeat eh 🤡


oh dear 🤣🤣🤣

[muddy_40] 21/12/2023 11:34

Ah the top drive saga, that brings back memories..lol

I think TYB was in charge of logistics then also..lol

My Murray used to enjoy a good old circus;-)