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Pin to quick picksZenith Energy Share News (ZEN)

Share Price Information for Zenith Energy (ZEN)

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Share Price: 1.95
Bid: 1.80
Ask: 2.10
Change: 0.00 (0.00%)
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Open: 1.95
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UK WINNERS & LOSERS SUMMARY: Pets At Home Up 15% On June Sales Bounce

Fri, 31st Jul 2020 11:28

(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Friday.

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FTSE 100 - LOSERS

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International Consolidated Airlines Group, down 9.4%. Swung to a loss in its first half due to Covid-19 travel restrictions, confirmed a EUR2.75 billion equity raise, and picked a new chair. Revenue for the three months to June 30 was GBP703 million, plunging 89% year-on-year from GBP6.73 billion. Pretax loss for the quarter was GBP2.32 billion, swinging from a profit of GBP921 million. For the six months to June, pretax loss was EUR4.21 billion, swinging from a profit of GBP1.01 billion the year prior. Revenue in the half-year dropped to EUR5.29 billion from GBP12.03 billion. Confirmed plans to raise EUR2.75 billion from a pre-emptive share subscription and largest shareholder Qatar Airways backs proposal. Chair Antonio Vazquez - who reached nine years in office last January - will retire early January 2021. He will be succeeded by Independent Director Javier Ferran.

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BT Group, down 3.5%, first quarter earnings suffered from a lack of live sport and the telecommunications firm forecasts a fall in annual revenue. In the three months to June 30, BT's revenue fell 6.8% to GBP5.25 billion and its pretax profit fell 13% to GBP561 million. Forecasts adjusted revenue to fall between 5% and 6%. Adjusted earnings before interest, tax, depreciation and amortisation are expected between GBP7.2 billion and GBP7.5 billion, at best a 5.1% decline. Rob Shuter, outgoing chief executive officer of Johannesburg-listed telecoms firm MTN Group Ltd, is named as the new head of the BT Enterprise business communications unit.

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FTSE 250 - WINNERS

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Pets At Home, up 15%, total revenue in the first quarter ended July 16 was down 1.0%, but the pet care supplies firm saw like-for-like sales bounce toward the end of the quarter. In the four weeks to June 19, like-for-like sales were up 15%, recovering from a 23% fall in the four weeks to March 27.

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FTSE 250 - LOSERS

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Petropavlovsk, down 5.7%, 31%-owned investee IRC reports 8.1% quarter-on-quarter improvement in iron ore concentrate production. Sales rise 8.5%. For the first half, Output rose 14% year-on-year, with sales up 12%. On Thursday, proxy advisor recommended Petropavlovsk shareholders vote in favour of the board recommendations of 20% shareholder Prosperity Capital Management and against those of 7.5% holder Everest Alliance Ltd.

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OTHER MAIN MARKET AND AIM - WINNERS

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Thor Mining, up 31%, reports "visible" gold from samples of Pilbara tenements, Western Australia. "To find visible gold in multiple sites in very close proximity to previous gold samples is very encouraging," notes Executive Chair Mick Billing.

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Tiziana Life Sciences PLC up 14%, submits patent application for nasal administration of Foralumab, a potential treatment for Covid-19 patients.

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Reneuron Group up 13%, after cell-based therapeutics firm granted a patent by US Patent & Trademark Office. Patent relates to its hRPC cell-based therapeutic candidate aiming to treat retinal diseases.

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OTHER MAIN MARKET AND AIM - LOSERS

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Coro Energy, down 17%, Asia-focused upstream oil and gas firm reports termination of agreement with Zenith Energy for proposed sale of Coro's Italian portfolio. Coro will continue to "prioritise" the divestment of non-core Italian operations. Zenith shares are down 7.9%

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 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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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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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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28 Nov 2023 14:57

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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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