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ajbennett; I haven't made any money here, yet. I have quite a significant paper-loss in the amount I went in with. But, management has admitted their difficulties and are now in the interest of the shareholders trying to turn the ship and become profitable. And as long as the lights are still on and they are actually trying to do what they have communicated to the shareholders for some time now, I do not yet consider my capital as lost,- AND neither do I spend all of the days whining about the paper-loss.
But you are not invested here and yet the majority of your posts in the last 30 days are about Zenith.
How much money did you lose here ajbennet?
He’s here to counter the blind silly ramping from others.
ajbennett 6th March 2020: "But I am done now and this will be my last post on here, good luck."
Why are you still posting here?
Can it be that they have learned a hard lesson?
"The Company’s publicly reported difficulties in increasing production from the CRA since 2016, as well as its past and future investment obligations, led the Board of Directors to unanimously agree, in the interest of shareholders, that the Company’s future success could be better achieved in other assets with existing production and near-term development and exploration potential in Africa. "
AC has not even tried to make excuses, but admitted their failure and the board unanimously found out that they could turn the ship. Wait, and let them try.
It's very strange that people (mudstud and ajbennet I'm looking at you) who are no longer invested in Zenith spend so much time on this board denigrating the share.
On the other hand, maybe it's not so weird. The only thing worse than losing money on a share is when it makes others money after you have sold out.
Mud it quite clearly states in the RNS the delay relates to the award of the Tilapia licence.
Not rocket science. As stated they must believe they've got it or why bother.
Not long for me to wait and you to continue whining.
GL.
like I said :
''Shareholders are cautioned not to place undue reliance on these preliminary results as material differences may arise once the audited financial results are published''
'material differences' huh
its one thing trumpeting about purchasing $5.3 million in money owed for £200k its another thing proving it
no licence no likey :-)
They even say this here: https://newsweb.oslobors.no/message/514677
"price quotation will be subject to special observation...until publication of an audited annual report for this period."
It is a technical thing. The removal of special observation is not conditional on the content of the Zenith accounts, merely their publication.
Since the official explanation of special observation from the Olso Bors is:
"Special observation is a measure used under circumstances that may make the valuation of the security in question particularly uncertain. The fact that a security is placed under special observation does not in itself impose any restrictions on trading, but it serves to notify market participants that there is some particular uncertainty over the pricing of the security. Special observation can, in contrast to a matching halt, be applied for a longer period."
This exactly matches what Zenith themselves have said in the RNS that the audited account has been delayed as " a result of the imminent potential award of a new 25-year license in the Republic of the Congo for the Tilapia oilfield".
Zenith is saying that there is uncertainty in the value of Tilapia which they want to sort out before publishing audited accounts. The Olso Bors has said that this uncertainty leads to a difficulty in valuing the shares - which is totally logical and exactly matches what Zenith say.
The "special observation" will clearly be removed when the accounts are published.
Nothing to worry about, yet. A new date has been set for the report; 23.10.2020 - Annual Report
https://newsweb.oslobors.no/message/514667
Even big companies has been on the observation list;
Norwegian Air Shuttle (NAS) spent time under special observation on OBX (14.4-20.5-2020)
I reckon we could be in big trouble here..... Confidence is just shot with this lot
I reckon we could be in big trouble here..... Confidence is just shot with this lot
See the announcement issued by the Zenith Energy Ltd (the Company) 30 September 2020 at 19:00 with preliminary unaudited financial results for the year ended March 31, 2020. See also the announcement issued by the Company 30 June 2020 regarding postponed publication of year-end results due to Covid-19 where it is stated that the Company would publish its audited results for the year to March 31, 2020 on or before September 30, 2020. As a consequence of the Company not publishing the audited financial results within 30 September 2020, price quotation will be subject to special observation, cf. the Continuing Obligations of Companies admitted to trading on Merkur Market section 11.4, until publication of an audited annual report for this period.