Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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I hate late Friday pm RNSs usually trouble, but this is pretty much ok except we aint getting nowt done....but we already knew that... on the plus side the balance sheet is much better.....
But look at the income statement in the financial statements on the website. A loss of nearly 10m CAD not mentioned in the RNS. Ouch. With admin expenses sky high, I now understand why ZEN needs to constantly raise. Imo this is unlikely to make a profit and will go under unless they can get the flow rates in the 000's bopd as a matter of urgency. No more delays please.
The financial statements on the website do not have the latest to end december if i recall - they are filed on sedar
You are right. March. I will try again. Thanks
I’m banking on the fact that those deals will soon be completed and we could have 1670bopd (270 Azer, 400 Italy and 1,000 new asset) income in short order which ought to see us motoring .... then we can think about drilling Congo ...
Lest we not forget about C-37 (250+) and C-30 (300+)....
Just need to hang on as the big investors are .... dyor
RH . Heres one for ya I just discovered . I , having been to the place and knowing what it is like then the following may be of interest . Parliamentary elections have just been held on the 9th of February . On the run p to the elections which could be over months it is likely that some ministers would lose or change positions during this time a lot of activity would come to a standstill . It is likely that there is nothing sinister after all and that everything is as stated in RNS's . They did tell me everything was ongoing but obviously we all make our own minds up on the information we gather . Yes maybe it should have been in an RNS but knowing what ZEN are like with RNS's , maybe just waiting for a signature would do . Election was the 9th Feb , coinciding with RNS on 11th to say A100 going to be heading to C37 . Game on ? I certainly believe so .
Buying up other assets would also be risk reduction for depending on who got what post . The announcement on the 11th about C37 should indicate that it has worked out favourably .
Sarge - interesting, thanks for that....
On the buying other assets front, I think you will end up owning close to 100% of AAOG, Talipa license, in exchange for the SNPC debt, it will effectively be "free" to Zen. Then once you have obtained the license renewal and positive initial well tests. Zen has the possibility of farming out or raising capital against the asset
My guess is SNPC will either retain between 0% and 20%, then you execute the put and call option for AAOGs remaining stake.
Oils proven in the ground, it being extracted by other companies in the surrounding area, taking on as much of the license as possible is a no brainier when its almost being given to you.
Not the ideal scenario for AAOG but i think thats what will happen, what happens to AAOG is under forums control.
100% of AAOG *Congo*, Talipa license,
Nice- great piece of info there Sarge !!! Thankyou
Yes definitely game on .... Azer should spring to life again soon enough and we know the oil is there .... so that plus the acquisitions ..... if this is played right it could be fantastic for us all. Fingers crossed ;-)
i dont hold Zen shares, im just sharing how i predict it going forward and that is that Zen is inline for control of up to 100% of the Talapia license (if they can afford it), im not ramping Zen, infact the lower share price here benefits me (because AAOG will get more Zen shares if it completes the deal and the lower VWAP) and most of my posts here point concern on their ability to raise funds. (im not forgetting that they still need capex of around ~$10m for the Talapia project in total for the term of the project)
As i told you on the AAOG board, Im just an AAOG shareholder, i have a fair wedge in AAOG, And as such its in my interest to keep a close eye on both shares and other companies involved, how else am i supposed to understand if Zen has the ability or can afford the acquisition and development which in turn benefits AAOG?
I dont like the way the deal is structured, but its beyond my ability to change it, im also very aware that the deal gives the AAOG listing some security and value, and that without it AAOG are exposed to debts high enough to shut them down and then i would hold shares that are worthless, im happier looking forward instead of dwelling on the past.
I only keep posting because I have spent the last 3 months researching and reading most of the AAOG related information from all the sources i can find, and as i find new information i post it or my interpretation on how it can effect the overall situation. Its either helpful or not and others can correct me if im wrong. I still think the asset is viable and it interests me following it.
If i was one of the parties that you think i am then i would be buying up every AAOG share possible with the Asian funds they just raised. But im not.
ATOG, $125,134,652 in shares to “ trafigura pte ltd “ As detailed under the companies house charges last month. I posted last month and you commented about it on the other board, I’ll post link there.