Share Name Share Symbol Market Type Share ISIN Share Description
Zenith Energy Ltd. LSE:ZEN London Ordinary Share CA98936C1068 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -0.01 -0.88% 1.125 3,665,748 10:08:07
Bid Price Offer Price High Price Low Price Open Price
1.10 1.15 1.225 1.075 1.225
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.41 6.70 -82.99 4
Last Trade Time Trade Type Trade Size Trade Price Currency
11:11:03 O 87,799 1.1322 GBX

Zenith Energy (ZEN) Latest News (1)

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Zenith Energy Daily Update: Zenith Energy Ltd. is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker ZEN. The last closing price for Zenith Energy was 1.14p.
Zenith Energy Ltd. has a 4 week average price of 0.42p and a 12 week average price of 0.30p.
The 1 year high share price is 2.20p while the 1 year low share price is currently 0.30p.
There are currently 313,400,824 shares in issue and the average daily traded volume is 1,472,031 shares. The market capitalisation of Zenith Energy Ltd. is £3,525,759.27.
bad gateway: Author believes ZEN could be well cashed up soon.. Zenith lands Tilapia, eyes SNPC collection Ed Reed.. hTTps://
astorcourt: ZENITH ENERGY LTD. ("Zenith" or the "Company") Manufacturing of PPE for Africa Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the listed international oil & gas production company focused on African development opportunities, is pleased to announce that it is in advanced discussions to establish a commercial PPE manufacturing enterprise, specifically protective face masks, in the United Kingdom to combat the COVID-19 pandemic. Rationale -- Zenith recognises the unprecedented challenges posed by the COVID-19 pandemic to populations across the world, especially in developing countries with limited intensive-care capacity and where fewer jobs can be performed remotely. -- The Company has observed publicly reported difficulties in the procurement and timely delivery of protective face masks across the world. -- Zenith intends to explore what kind of assistance may be provided by the UK government in terms of funding to support the establishment of PPE manufacturing in the United Kingdom.
muddy_40: BG. The Tunisia deal is still waiting the approval of the Tunisian authority. From last RNS. "Completion of the SPA is conditional on approval being granted by the Comité Consultatif des Hydrocarbures ("CCH") of the Republic of Tunisia in respect of the transfer of the Seller's right, title and interest in and under the SLK Concession to Zenith Netherlands ("Completion")." And "The Company is expecting regulatory approval from the CCH in relation to the Tunisian Acquisition from KUFPEC in due course." So still waiting for final approval. Nothing is ever as it seems with ZEN. These fields were at 20k production once upon a time, now at 700 bopd. Sounds like AZ the biggest onshore field in Azerbaijan.. remember that one..642 M2..rolled off his tongue every interview. Just saying. If when the 2019 results come out and AC has not paid himself exuberant bonuses like in 2018 results for a loss making, Share price descending company, I will never post on a Zen blog again. I give you my word on that. So it is all down to ACs 2019 pressure
zengas: Consent - 27/12/19 AAOG - "The SPA is conditional, amongst other things, on the passing of an ordinary resolution of shareholders in the Company in a General Meeting approving the Disposal and certain regulatory requirements in the Republic of the Congo including consent of the Minister of Hydrocarbons. " 24th March 2020 AAOG - "Completion of the Disposal remains subject to Ministerial consent to change of control in the Republic of Congo." 17/4/2020 AAOG - "The delay to completion has been the wait for the Minister of Hydrocarbons in the Republic of Congo to consent to the change of control of AAOGC which has so far not been forthcoming and which is a condition to completion of the Disposal. Neither AAOG nor Zenith can say with any certainty when such consent will be forthcoming," Also on the 17th April ZEN RNS where they instead bought the lot for a knock down £200k instead of the much higher previously agreed figure - "We are fully confident that the necessary regulatory approval process in the Republic of the Congo for the transfer of ownership, as well as negotiations for a 25-year renewal of the Tilapia licence, will conclude positively," 5/5/20 Zen RNS Completed the Tilapia acquistion from AAOG but still no ministerial approval. - "Completion of Tilapia acquisition. Zenith is now working to conclude the necessary regulatory process in the Republic of the Congo to approve the transfer of ownership, as well as finalising negotiations for a new 25-year licence for Tilapia."
zengas: One thing that needs cleared up is AAOG Congo. How does Zen think AAOG Congo past costs of $12.5m on Tilapia will be paid to Zen ? If the' new' licence is going to be issued to a new susbsiduary ie Zenith Energy Congo ZA then surely all past costs are dead with the old licence term. How could AAOG Congo draw against past costs on a new licence when it won't be issued to AAOG Congo - it doesn't make sense. Likewise how will they recover the $5.3m ? Why was there a need when chasing the same licence that a new subsiduary of Zenith had to be set up - it doesn't make sense - what's wrong with Zeniths AAOG Congo that it acquired ? Again the letter posted by Africa Intelligence -" In a letter dated 4 June, the oil minister, Jean-Marc Thystère Tchicaya rejected Zenith's acquisition of AAOG Congo," - The word is rejected and a copy of the letter was included in the AEI story! If AAOG Congo was rejected as a takeover by Zen for the licence, then this must exlain why they had to start from scratch by setting up a new subsiduary to apply for the Tilapia 2 licence otherwise why set up a new subsiduary ? If so where does that leave Zen on AAOG Congo in claiming for $12.5m past costs and also the $5.3m that was sold for a knockdown £200,000. The starting cost for the new licence was reported at an estimated at $5m - if Zen are relying on this coming from, and being paid in kind from past costs, how could it, when AAOG Congo is not the applicant for the licence and as reported was rejected by the oil minister. If you don't believe the 'letter' showing the ministry hasn't agreed to the takeover - then find an RNS from ZEN that says the ministry has approved the takeover of AAOG Congo !!! There hasn't been one - yet they've set up a new subsiduary to pursue the licence that way. Imo it was a big gamble for £200k and why it was so cheap at £200k. Fact is there has been no announcement from Zen that the ministry has approved the takeover of AAOG Congo.
zengas: bg i only passed the subscription article on for anyones info that wants to see it. ZEN said they had a PCA to operate it on the 20/7 but in the space of 3 weeks they just say they themselves returned operatorship to the government but they don't disclose when operating or the PCA ended. On the 20/7/20 there was an RNS saying 'Anglo African Oil & Gas Congo S.A.U ("AAOG Congo"), continues to operate the Tilapia oilfield on an interim basis following the implementation of a "Plan for the Continuation of Activities" ("PCA") agreed with the national oil authorities.' Then on 10/8/20 they said by RNS they had returned operatorship to the government. A bit confusing that the so called PCA didn't last long given the article says that from the 18th July ZEN had no access to the site. The article could suggest the ministry views ZEN as not having the financial capability. Maybe that can be countered by Zen saying we have a letter of intent for financing at 2.5p though and a chicken and egg situation has arisen. Maybe one party wants to see sufficient finace while the other wants to see the licence as being in the bag before coughing up funds at 2.5p ? All against the back drop of other potential offers from those named in the article. Last week they said the ministry requested them to set up a new subsiduary for the purpose of receiving the licence "Zenith Congo has been established at the request of the Ministry of Hydrocarbons for the purpose of receiving a new 25-year licence following the submission of a comprehensive commercial and technical offer". The article refers to Zens subsiduary AAOG Congo - not Zenith Congo which has now been set up.
andy: bad G, Well I'm truly astonished! SP have published a letter that is very material for Zenith, the company have not referred to that letter, nor disputed its authenticity, and you're not bothered? The latest RNS should have addressed the matter, because either share price is misleading the market with a false document, or else surely ZEN appear not to have informed the market of a significant event? The fact thy issued the carefully worded RNS they did, would cause me great concern if I were you. ZEN may not be for widows and orphans, but shareholders have the right to be informed in a timely manner of material events, as per the market regulations, so they may make informed decisions on their investment.
andy: Another financing RNS'd last night after 6 pm! I've never seen any company have so many financings as this one. The RNS re clarification of the share price letter must surely come today?
bad gateway: So no more team A team B. lol Seriously glad they're away from the workover routines. Haven't found a small oiler making cash that way. Just can't rely on the data. More cash in the bank sounds better. ZENITH ENERGY LTD. ("Zenith" or the "Company") Completion of Handover & Receipt of Payment Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA-ME), the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to announce that the handover process (the "Handover") of the Contract Rehabilitation Area ("CRA") to SOCAR in the Republic of Azerbaijan has now been successfully concluded. As a result of the Handover, Zenith has ceased all oil production operations in Azerbaijan and all field production personnel, approximately 170 employees, have been transferred to a division of SOCAR. Receipt of Payment The Company is pleased to confirm that its Azerbaijan subsidiary has recently received a payment for oil production of approximately US$508,000 from SOCAR.
bad gateway: ZEN seem certain they can pay for it through their bonds still. Not convinced myself until the rig starts turning (if it does) but would like to see it happen. hTTps:// Zenith Energy in negotiations to contract drilling rig in the Congo Published by Nicholas Woodroof, Assistant Editor Oilfield Technology, Wednesday, 26 February 2020 10:00 Zenith Energy Ltd. is in advanced negotiations to contract a drilling rig to perform planned drilling operations in the Republic of the Congo. Zenith has agreed to acquire an 80% interest in Anglo African Oil & Congo S.A.U (AAOG Congo), which has a 56% majority interest in, and is operator of, the Tilapia oilfield in the Republic of the Congo, by way of a conditional share purchase agreement (SPA) with AIM quoted Anglo African Oil & Gas plc (AAOG). The SPA remains conditional on certain regulatory requirements in the Republic of the Congo, including consent of the Minister of Hydrocarbons. As announced on 11 February 2020, the company has identified two suitable drilling rigs, both of which are in the proximity of the license, thereby significantly reducing mobilisation costs, to perform planned drilling operations in the license. The company can confirm that it is in advanced negotiations to contract one of the aforementioned drilling rigs, which is currently being used by an international oil major in a neighbouring oilfield and is expected to become available during the next 30 days. Zenith intends to commence drilling operations during April 2020 following completion. Funding for planned drilling operations in Tilapia is expected to be provided by means of Zenith's publicly announced €25 million EMTN programme, as well as certain repayments due to AAOG Congo from Société Nationale des Pétroles du Congo (SNPC) as a result of past work performed on the license for a total amount of approximately US$5.3 million. In accordance with the terms of the SPA, Zenith will retain 80% of the aforementioned amount upon completion. Andrea Cattaneo, CEO, commented: "It is the Board's view that there is significant potential for near-term value creation in Zenith's equity due to a number of business development activities we are pursuing, foremost amongst which is completion of the AAOG Congo acquisition and the planned drilling activities in the Mengo and Djeno horizons. Management and I remain fully focussed on achieving completion, having recently met extensively with all the relevant authorities in the Republic of the Congo. As evidenced by our advanced negotiations with a local drilling contractor, we intend to commence operational activities without delay once completion is achieved." You might also like
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