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Https://www.investegate.co.uk/announcement/rns/zenith-energy-ltd-com-shs-npv-di---zen/new-bond-exchange-offer-/8149995
ZENITH ENERGY LTD.
("Zenith" or the "Company")
New Bond Exchange Offer
Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to announce the launching of a new Bond Exchange Offer on revised terms (the "Exchange") following the successful conclusion of the first Bond Exchange Offer, as publicly announced on April 11, 2024.
Botham the strategy is clear, win the arbitration with over $150 million owed. Then develop assets in the USA with potentially signing a big asset in Kazakhstan.
Things move very slowly here.
?
Last post removed why?
I'm not sure apart from a number of MOU's we have any assets in Sudan, USA or Kazakhstan?
Strategy
The Company operates from a corporate head office in Canada but holds investments in several global jurisdictions including Italy, USA, Tunisia, Sudan, and Kazakhstan. The nature of these investments includes oil and gas extraction and electricity production. The Board is conscious of the inherent environmental risks associated with the extraction of natural resources and the production of energy. However, the Board actively encourages its investment partners to operate within international environmental guidelines and to perform its activities using the most up-to-date equipment
Even the smallest buys will take this back up. Worst news is out of the way just need arbitration money to come.
Speak for yourself MLS. I was hoping to get some more cheap and someone has pipped me to it. Now it's 7% up, so not so nice for me :)
Nice to (finally!!) see some buys
TYB I don't want them to pay it all back to shareholders, just a little bit. They should use the rest to do as you say.
Callit I would rather they use that money to pump out oil in the USA. Then when we get the bigger win nearer to $100m pay us out in dividends to thank us for staying invested for so long.
If they win 9.5m usd, the least they could do is chuck a million back at shareholders. I know that they said they would with the other arbitrations but it would help shareholder morale no end if they could spare a few quid to help us out.
You’ve missed out the €25 million bond raising that they mentioned in the last half yearly report that will more than fund the Kazakhstan deal. Trust in the Italian stallion. Easy arbitration win for the maestro.
No chance.
And if we lose?
Paris court case against SMP for $9.5m is imminent.
I’ve got a small investment here and was considering topping up significantly on the Kazakhstan news but I held fire and I'm glad I did. what do we believe is the holdup with the Kazakhstan deal? It seems ongoing since December 20th when Zenith said it'd be done in 60 days. Now it's been 113 days and still no word. Usually when Zenith misses deadlines like this it's game over and this time next year rodders.
If the deal does go through, how's Zenith footing the bill? They only had $843k in cash and hefty expenses according to their September 20th report. They got about $2 million in February which might keep them afloat with some penny-pinching, but where's the $1.8 million for Kazakhstan coming from?
Let’s say they scrape up or borrow the $1.8 million, how are they tackling drilling costs? From what I can tell they're flat broke.
Without a penny to spare how are they pulling off anything in Kazakhstan? I’m only asking because this stock seems to be oversold but how will they pull themselves out of this rut??
Callit I agree...........Ramadan is one month of no work............imo
The deal in Kaz is good for Devonian, good for Zenith and good for the state. Why would it not go ahead?
Who else has a drill hanging around and ready to deploy.
I find it more reasonable to consider that we are waiting for the formal paperwork from the ministry that has been delayed as it's been holiday season over Ramadan and there is probably a backlog to get through.
GLA DYOR
Why not? Tunisia was going well and plain sailing till the government decided we were making too much money on the cheap and then tried to illegally take it from us. First and foremost the most important thing zenith must do is win the arbitration and then we can take our time to buy whatever good asset we want and diversify as much as we want also.
The reality sadly is, we currently have no money, huge debt, and double digit MOU's. Ask yourself who would sign a future MOU with Zenith based on past performance
Whether we get Kazakhstan or not has nothing to do with Putin. It all comes down to if the deal is right for zenith or not. Once we get the arbitration money and make straight forward money in the USA, then we can take a step back and pick the best deal in Kazakhstan for us.
Can't be far off some news on some front now.
Any ideas what the potential acquisition in Italy might be?
"I am pleased to report that the Company is currently evaluating a potentially significant additional acquisition in Italy, and I look forward to providing updates in due course if negotiations prove successful."
"Every single strategic decision has failed."
Not quite true, not unless they lose all the court cases they have ongoing with the different countries that have broken contracts with them.
How much are they suing for in total? I know its a lot but lose count at times like this.