Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Positive rns just released:-)
You should hear what he thinks of you.
Mis ... glass always half empty as usual.
CITM you say “the outlook for for Zenith seems pretty good to me”
The share price is bouncing off all time lows though
Trust seems very lacking
The outlook for for Zenith seems pretty good to me. They have the Kazakhstan deal still in progress that looks like it will be massive for the company. Obviously they still have to get it over the line, but they have been pretty clear that this will be funded via debt and that is in the process of being raised by the bonds. When you add in the arbitrations and court cases totalling about $150 million then the share price looks a steal.
If we think we have it bad thank god we are not UKOG....................at least we many exciting landmarks ahead of us which will increase the share price............dyor
The price ain’t great at the moment but none of the fundamentals have changed. The sells and buys are tiny so the drop is not people selling just mms playing around with the 2.5-3.5 territory making their profit and wiping out investors. Kazakhstan is still very much on unless told otherwise. And we still have a tonne of money owned to us from Tunisia and Congo. Personally my cash is tied up till mid March if we are same price or lower then I will be putting in another £20k. Eventually AC will want to cash out and it will have to be above multiples of the current price though I can understand why investors are tired of waiting. But this will flip with a switch along with the share price when we least expect it.
'· A second tranche in the amount of US$1.8 million will be payable on the completion of a satisfactory legal and technical due diligence by Zenith 60 days from the date of signing the Conditional Acquisition (the "Exclusivity"), and the receipt of all necessary regulatory approvals in the Republic of Kazakhstan ("Completion").'
I guess waiting for the necessary regulatory approvals may take longer than 60 days. But the word Soviet era in the RNS has my nerves in a spin after Azerbaijan.
Financial institutions pulling out of financing fossil fuel extraction to.
We are done for, the Western world is going to become a Mad Max / Hunger Games society, its coming!
Share price at record low, no bonds confirmed, no money. 7 days past Mou cut off and no means to pay. Need positive news urgently.
I hope we get some X pics of the drill rig being set up.
Where is 400bopd coming from, they have no existing oil and have to drill first? It is with concern it has gone past 60 days.
Every MOU so far has come to nothing, we need positive news quickly
Fingers crossed but there have been a few false dawn's.
Deal will be done and we’ll be pumping out 400bopd with immediate effect .
Upside can you explain what you are talking about?............the Kazakhstan acquisition is still on unless told otherwise................dyor
Closed or swept under the rug is about par for this company.
Https://en.inform.kz/amp/china-tops-list-of-kazakhstans-export-markets-in-2023-3bce07/
Kazakhstans biggest trade partner particularly in crude oil. Will not be difficult to sell any oil we produce.
Can we hope for the closing of acquisition next week?
A very high quality post imho. Thanks Ajmalkhuram
The recent Regulatory News Service announcement presents both favorable and unfavorable aspects. The notable drawback is the issuance of an additional 38 million shares, resulting in an approximate 16% dilution. However, a positive element emerges as two company directors have personally invested a substantial sum in this issuance, while efforts persist to finalise the debt financing for the Devonian deal.
This fundraising action appears to be a proactive step in addressing capital needs. At the beginning of this year Zengas accurately hinted at the company's impending shortfall in working capital, and this has indeed proved to be the case. I had personally hoped that that bond raising efforts would obviate the need for equity issuance, but it would appear that the company have thought it prudent to carry out the recent fundraising initiative in order to proactively address any cash-flow issues between now and the completion of the bond issuance.
It remains pertinent to acknowledge Zenith's intention to finance the Kazakhstan drilling campaign through debt, a detail confirmed in the recent RNS. The company's pursuit of a €25 million bond program, as previously disclosed in their semi-annual accounts, has been underway for some time.
Given the recent £1,260,000 raised, with no immediate allocation to the Kazakhstan acquisition and development, it appears plausible that progress is being made on the bond issue. Consequently, the equity raising serves as a temporary measure to ensure solvency until the bond issuance concludes. While the RNS mentions earmarking some of the £1.26 million for acquisitions in America and development in Italy, it seems judicious to delay such expenditures until after securing the bond financing, thereby preserving current working capital to facilitate the deal's completion.
This fundraising effort instills confidence in Zenith's future prospects. The relatively modest amount raised, coupled with its non-allocation to major acquisitions, underscores its role as a short-term liquidity solution. The personal investments made by Andrea Cattaneo and Luca Benedetto, which total almost £250,000 of their own funds, demonstrate their confidence in the company's strategy. Successful execution of the €25 million bond issue, as envisaged, would position the company with a robust cash position and ample opportunities for development, such as the Devonian drills. My sentiment on Zenith is, therefore, very positive and I agree with the final line of the RNS: the year 2024 does indeed hold significant potential for shareholder value creation.
Looks like a small holding raising to get the company through to when they issue the €25 million worth of bonds. More shares to issue but the small amount issued are a good sign for investors that the company expect to get the bonds over the line too. Also happy to see the Italian stallion put in around £200k of his own money too which shows his commitment to the company’s future. The market agrees with the last statement of the RNS that there are significant opportunities for shareholder value creation during 2024 as the price is rising now.
I hope we get back to my entry price and I can sell between 50 to 75 % of my holdings.
More dilution post consolidation which I expected and was clearly sign posted and today for around £1m net. Not even clear exactly how the cash will be split but I expect they were running on air as I posted awhile back given working capital needs.
Still paying the bills by issuing shares. £84k in 2.6m shares or 1% dilution. Shareholders powerless to reign this in.
I'm more upbeat here after reading that RNS..
In truth, my overarching interest here now is in those arbitrationS outcomes....and I have high hope for at least very meaningful positive outcome/s.. and maybe/hopefully enormously positive outcomes, even
Very interesting and actually positive update as we can clearly see the funds will be used for the US acquisition and developments in Italy..........also interesting to note that they are not using this to fund the Kazakhstan acquisition that is confirmed to be funded via debt as some posters here already suspected............GLA