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For me this has always been a medium term investment so I'm not looking at how the price will react to an extra 100 or 300 barrels of oil. I'm looking at the long term game plan of 3000 barrels of oil which I truly believe ZEN are capable of producing within my time frame.My sights are set on a market cap of £100 million...minimum.
tks gg,
we got off to a terrible start, however, the change in strategy is paying off, so far. AC is determined to make a success of this and he is looking over a much longer timeframe than most on these boards are. He will be annoyed that the share price is so low, however, if the company builds on its success at the drill bit, AC continues with debt management and reduction in costs, then the share price will reflect the new zenith, sooner rather than later.
Thank you SEA7. Keep up the good work. I'm still of the opinion that this is a strong buy. Holding for the divi and not selling.
all good in my view - sits with the strategy for full field development - we are getting there slowly and it was to be expected that the early phases were going to be funded by debt/equity - once more wells are online and then cash can be used to fund future drills and run off the debt side of things.
the set backs from phase 1, that being old soviet workovers is behind us now - that has cost a couple of years, still no use griping about it.
The forecasts prepared by Zenith Group for the FYE September 2020 considered the development of the Group’s business as it is now progressing (i.e. with no new investments besides those planned for the Azerbaijani operations), the gradual and consecutive increase of oil production in Azerbaijan from the current 234 bopd to 450 bopd in October 2019 and to 2,340 bopd in September 2020 (with the deepening of wells C30 and C37 and the drilling of four new wells), average oil prices of 57 USD/bbl, financing from the cash flows generated from operations and from the issuance of new equity shares (CAD 3.5 million) and from the issuance of bonds (CAD 4.7 million), and no payment of dividends.
With these assumptions the Group forecasts to achieve revenues of CAD 34.5 million in the FYE September 2020 with an EBITDA (considering all the capex as operational expenses) of CAD 14.0 million and a net profit of CAD 13.0 million.
Considering Zenith’s forecasts, ARC has estimated that the Zenith Group will achieve a positive cash position (net of financial debt) of CAD 6.2 million at the end of September 2020.
the arc rating note says ...
The deepening of C30 will follows and will take 20 to 30 days to achieve production. The Group were expecting to achieve an average of 200 bopd for each of these wells.
Forget it , just the rns
Tweet out
these are non convertible as well.
zen has the facility in place - re rns jan 2019..
zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME) the listed international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that it has issued and listed EURO 3,120,000 unsecured corporate notes at par value (the "Notes") on the Third Market (MTF) of the Vienna Stock Exchange.
The Notes bear interest at a rate of 8 per cent per annum, payable semi-annually, and are listed on the Third Market (MTF) of the Vienna Stock Exchange ("Wiener Borse AG") as "ZENITH ENERGY LTD 8% NOTES - 2021" The International Securities Identification Number ("ISIN") of the Notes is AT0000A23S79. This issuance is part of an approval to list up to EURO 10 million in several tranches and with the same ISIN.
https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/successful-listing-of-corporate-notes/201901110700048537M/