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Pin to quick picksZenith Energy Share News (ZEN)

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TRADING UPDATES: 4Global to top forecasts; Nanoco wins deal

Thu, 17th Mar 2022 19:43

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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4Global PLC - London-based data, services and software for sporting events and the promotion of physical activity - Set to achieve 35% revenue growth in year ending March 31, in line with expectations. Adjusted earnings before interest and tax and adjusted earnings before interest, tax, depreciation and amortisation to top expectations. Market consensus for adjusted Ebit is GBP316,000, while for adjusted Ebitda it is GBP325,000. "The company is also delighted to be awarded a contract to provide assistance with the forthcoming Commonwealth Games in Birmingham this summer. 4GLOBAL is providing support to manage the delivery of security operations for the entire event. This role will provide assurances that the correct planning has been undertaken to date, validating security strategies and testing operational plans," 4Global says. Pact is worth GBP130,000 and will be recognised in financial 2023. Adds: "The company is also pleased to report that it has won a number of licence contracts with both local authorities and operators for the use of 4GLOBAL's Social Value Calculator. The SVC enables leisure providers to measure and provide evidence of the social value created from investment in sport and physical activity enabling clients to calculate and estimate of the monetary value arising from investment."

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Nanoco Group PLC - Manchester-based quantum dots developer - Signs further pact with "important" European electronics customer. Will deliver enhanced and scaled up version of its technology. Now expects revenue for year to July 31 to exceed GBP2.1 million from year earlier. "The revenue from this fourth work package with the customer will contribute to the group's performance in the third quarter of FY22," Nanoco says.

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Ariana Resources PLC - exploration firm with interests in Turkey - Announces 2022 output guidance at joint venture Kiziltepe mine. Gold output of 25,000 ounces expected, 2.5 times larger than feasibility plan for this stage of mine life and up from 20,737 ounces in 2020.

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Zenith Energy Ltd - Calgary, Canada-based oil & gas company - Enters into USD6.0 million unsecured convertible loan facility with consortium of lenders. Facility includes immediate USD2.0 million drawdown. Each drawdown has repayment term of 15 months. Facility carries 9% yearly interest. Zenith issues lenders with 92.1 million share purchase warrants at price of GBP0.012 each.

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Altus Strategies PLC - Didcot, England-based mining royalty company - Reports "further significant gold intersections" from drilling of Diba & Lakanfla gold project in Mali.

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Deepverge PLC - Dublin-based environmental and life science group - Buys engineering services company Glanaco Ltd for GBP1.1 million, GBP650,000 in shares and GBP430,000 in cash. Deepverge also secures mezzanine loan worth up to GBP25 million with Riverfort Global Opportunities PCC Ltd and YA II PN Ltd. Facility available for up to three years in form of 12-month mezzanine loan notes.

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S-Ventures PLC - AQSE-listed investment firm focused on health & wellness, organic food and wellbeing sectors - Revenue in 16 months to September 30 amounts GBP1.5 million. Pretax loss comes in at GBP1.0 million.

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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Revenue in six months to December 31 totals USD293,000, down from USD497,000 a year prior. Pretax loss narrows to GBP781,670 from GBP1.1 million. "The main focus was to continue developing the core assets to ensure the strategic intent to transform Castillo Copper into a mid-tier copper group remained on track," Castillo says.

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Argo Group Ltd - London-based alternative investment manager - Revenue in 2021 rises to GBP4.4 million from GBP3.3 million. Pretax profit falls to GBP298,000 from GBP1.7 million. Company posts GBP600,000 loss on investment, swinging from GBP1.5 million gain in 2020.

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Serica Energy PLC - gas producer in UK North Sea - Production from Rhum field restarts, after replacement of faulty component at Rhum Subsea Control Module. "Production from the Bruce field has continued throughout these operations and Serica's other producing fields (Erskine and Columbus) were not impacted by this Rhum issue," Serica says. During Rhum shutdown, net output has been in excess of 15,000 barrels of oil equivalent per day.

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Guild Esports PLC - London-based esports company - Makes Razer its official gaming chair partner in two-year sponsorship pact. "The total contract value, which is confidential, is 80% payable in cash over two years and the balance is payable as value in kind, for which Razer will be providing state-of-the-art gaming chairs for Guild's professional players and content creators globally, along with gaming chairs for the Guild Academy and Guild's headquarters, which will open in London's Shoreditch later this year," Guild says.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Zenith increases stake in Italian gas concession to 50%

Zenith Energy Ltd - Oil and gas company focused on assets in Africa and Italy - Acquires an additional 10% interest in the Sant'Andrea onshore concession from Petrorep Italiana SRL. The concession covers around 164 square kilometres and is located in north-eastern Italy. After completion, Zenith's interest in Sant'Andrea will increase to 50%. The company intends to reactivate production at Sant'Andrea's S. Antonio-1 well, and expects initial production to reach 1,500 cubic metres of natural gas per day. Under the terms of the deal, Petrorep has paid Zenith's Italian subsidiary EUR248,000 to cover its share of future abandonment and plugging costs.

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IN BRIEF: Zenith Energy raises GBP1.3 million via private placement

Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Completes private placement in the UK and Norway. Raises GBP1.3 million in total, resulting in the issue of 37.9 million shares. Shares are priced at GBP0.03 for the UK financing and NOK0.42 for Norwegian financing.

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IN BRIEF: Zenith swings to loss on higher costs; revenue drops

Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Swings to a pretax loss of CAD1.9 million, or GBP1.1 million in the six months ended September 30 from CAD259,000 profit a year prior.

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6 Dec 2023 11:57

Zenith Energy demands over USD85 million from Tunisian government

(Alliance News) - Zenith Energy Ltd shares jumped up on Wednesday after it announced a formal claim for USD85.8 million in damages from the Republic of Tunisia over a blocked acquisition.

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30 Nov 2023 21:10

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29 Nov 2023 14:20

Zenith Energy hails arbitral tribunal rejecting defendant request

(Alliance News) - Zenith Energy Ltd on Wednesday hailed an International Chamber of Commerce appointed arbitral tribunal which rejected the Tunisian national oil company's request to include Tunisia as co-defendant in claims against it.

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18 Oct 2023 15:16

IN BRIEF: Zenith Energy continues to pursue claim against SMP Energies

Zenith Energy Ltd - Africa and Italy-focused oil and gas company - Updates on the legal claim of its fully owned subsidiary, Anglo African Oil & Gas Congo SAU, against SMP Energies. SMP Energies is the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield in the Republic of the Congo during 2018 to 2019. It was ordered to pay EUR30,000 to AAOGC as damages for its "abusive procedural behaviour". Explains that SMP failed to pay the damages payment to AAOGC and consequently the Paris Commercial Court seized the amount of damages from an SMP bank account in France.

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19 Sep 2023 19:43

IN BRIEF: Zenith signs memorandum of understanding for Kazakhstan deal

Zenith Energy Ltd - Calgary, Canada-based energy firm - Signs a third memorandum of understanding with a company incorporated in Kazakhstan to evaluate the potential acquisition of an oil production and development asset. Explains the seller holds a 100% interest in the asset located in the Atyrau region. Notes the acquisition target formerly produced from wells drilled in 2008 at a rate of approximately 200 barrels of oil per day prior to the onset of the Covid-19 pandemic. Production is currently suspended. The purpose of the MOU is to formalise a framework whereby Zenith's interest may be completed subject to the completion of a rigorous technical and financial due diligence. According to the terms of the MOU, commercial terms, if agreed, are to be formalised by way of a share purchase agreement on or before November 30.

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15 Sep 2023 10:46

Zenith Energy strikes deal for possible buy of Kazakhstan oil assets

(Alliance News) - Zenith Energy Ltd on Friday said it has signed a second memorandum of understanding with an unnamed company in Kazakhstan to explore the potential of buying two oil development assets in the Kyzylorda region.

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