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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: 1.90
Bid: 1.80
Ask: 2.00
Change: 0.00 (0.00%)
Spread: 0.20 (11.111%)
Open: 1.90
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Low: 1.90
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UK WINNERS & LOSERS SUMMARY: Zenith Rises On Anglo African Asset Buy

Fri, 27th Dec 2019 10:25

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

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FTSE 100 - WINNERS

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Glencore, up 2.0%, BHP, up 1.9%, Antofagasta, up 1.6%, Rio Tinto, up 1.5%. The internationally-exposed miners were higher amid positive investor sentiment as expectations grow for the elusive "phase one" trade deal between Washington and Beijing to be finalised next month. "Optimism about trade helped the outlook for global growth and with it the demand for oil," said AxiTrader's Stephen Innes.

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Polymetal International, up 1.5%. Shares in the Russian gold miner were in the green, tracking spot gold prices higher. The precious metal was quoted at USD1,511.40 an ounce, up from USD1,489.92 on Tuesday. Midcap peers Fresnillo, Centamin and Hochschild Mining were up 3.3%, 2.1% and 3.5%, respectively.

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FTSE 100 - LOSERS

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NMC Health, down 1.5%. The UAE-focused private healthcare firm defended itself against a specific line of attack by short seller Muddy Waters. NMC said STH Consultant, the engineering consultant retained by NMC, provided written confirmation of the total built-up floor area of NMC Royal Women's Hospital in Abu Dhabi at 18,595 metres squared. It also made publicly available floor plans for the hospital approved by the Health Authority of Abu Dhabi. The statement came in response to attacks on the hospital operator by Muddy Waters Capital over its accountancy practises. Last week, Muddy Waters highlighted a USD107.4 million investment by NMC in the redevelopment of NMC Royal Women's Hospital, previously known as Brightpoint Royal Women's Hospital. "Red flags" in this investment, it said, included the cost being USD7,700 per square metre, exceeding Muddy Waters' expectation of USD3,500 to USD4,000. Since the Muddy Waters attack, NMC shares have fallen around 38%.

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OTHER MAIN MARKET AND AIM - WINNERS

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Anglo African Oil & Gas, up 7.5% and Zenith Energy up 11%. The AIM-listed oil and gas firm said it has agreed to sell an 80% stake in its wholly-owned Congo subsidiary to oil & gas producer Zenith Energy for GBP1 million. Upon completion of the transaction, Anglo African Oil & Gas will become a cash shell on AIM. Anglo African said it intends to use the proceeds from the disposal to finance its day-to-day operations and consider potential reverse takeover options. The decision to sell its Congo subsidiary comes amid Anglo African's failure to raise finance for the planned work programme on well TLP-103C-ST amid limited cash resources. Anglo African Oil & Gas said it had mulled raising equity capital in the public markets in order to secure sufficient funds, but was advised that it was "highly unlikely" to generate the support necessary to raise the required amount. The disposal requires an approval from more than 50% of Anglo African Oil & Gas shareholders. Upon completion, the company said non-executive directors Brian Moritz and Nick Butler will resign from the board.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
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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4 Sep 2023 13:22

Zenith Energy signs accord for Kazakh asset, terminates two deals

(Alliance News) - Zenith Energy Ltd on Monday said it signed an accord with an Kazakh-incorporated firm, entitling Zenith a period of exclusivity of 90 days to evaluate a potential acquisition.

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29 Aug 2023 12:04

Zenith Energy buys US-listed company to use as acquisition vehicle

(Alliance News) - Zenith Energy on Tuesday said it has acquired Cyber Apps World Inc via a securities purchase agreement with Janbella Group LLC.

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4 Aug 2023 18:02

IN BRIEF: Zenith Energy ends discussions with Benin over Seme oilfield

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Decides to end negotiations with the Benin Ministry of Water and Mines for the finalisation of a production sharing contract for Block 1, which contains the Seme oilfield, offshore Benin. Says the board took this decision following a "comprehensive evaluation of recent geopolitical developments in the vicinity of Benin". This is alongside the "significant long-term investment required to successfully develop the Seme oilfield, and the material progress made in other jurisdictions where Zenith now intends to maximise its technical and financial resources with comparatively reduced risk for the company's shareholders".

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3 Aug 2023 18:04

IN BRIEF: Zenith Energy agrees to acquire Texas oil & gas interest

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Signs accord for acquisition of interest in Texas oil & gas acreage for around USD50,000. Says seller owns 100% gross working interest, 75% net revenue interest in 320 acres in a oil and gas lease of around 320 acres from surface down to a depth of approximately 800 metres, located in the east half of section 14, block 50 at University Lands in Crockett County, Texas. The seller will retain a carried GW of 10% of all drilling and completion work necessary for the first two wells to be drilled. Confirms its intention to operate the property and conduct oil and gas extraction and exploration activities. The seller has agreed to pay "its proportionate share of all subsequent drilling and completion work to be performed, as well as its share of ongoing operating costs, including workovers".

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2 Aug 2023 14:17

IN BRIEF: Zenith Energy pays off full Vienna bond coupon

Zenith Energy Ltd - Calgary, Canada-based energy company with assets in Africa, Europe and the Middle East - Says it recently made coupon payments, in respect of four multi-currency euro medium term notes, in full and on time. Company had issued the notes on the Vienna MTF. Notes were in Swiss francs, euros, US dollars and Great British pounds.

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31 Jul 2023 14:36

EARNINGS UPDATES: Kropz annual loss widens on impairments

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

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10 Jul 2023 11:07

Zenith Energy obtains USD6.5 million account seizure in Switzerland

(Alliance News) - Zenith Energy Ltd on Monday said it successfully obtained a "conservative seizure" for an amount equivalent to approximately USD6.5 million deposited in a bank account in Switzerland.

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5 Jul 2023 15:30

TRADING UPDATES: RTW plans buyback; Octopus AIM VCTs eye fundraise

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

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4 Jul 2023 16:20

IN BRIEF: Zenith Energy subsidiary awarded EUR30,000 in damages

Zenith Energy Ltd - Africa, Middle East and Europe-focused energy production and development company - On Monday, says its fully owned subsidiary Anglo African Oil & Gas Congo SAU has been awarded a payment of compensatory damages by the Paris Commercial Court in its claim against SMP Energies, the rig contractor that performed drilling services in wells TLP-103 and TLP-103C of the Tilapia oilfield during 2018 to 2019. SMP Energies is ordered to pay EUR30,000 to Anglo African.

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23 Jun 2023 10:42

IN BRIEF: Zenith signs deal with South Sudan for oil and gas licence

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs memorandum of understanding with the Minsitry of Petroleum in South Sudan for a licence negotiation. Says this relates to the acquisition and development of oil and gas production licences.

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7 Jun 2023 08:53

Zenith Energy asks arbiter for USD48 million from Tunisia for harm

(Alliance News) - Zenith Energy Ltd on Tuesday said it filed legal proceedings against Tunisia, accusing the government of harming the commercial interests of investors in the country.

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2 Jun 2023 09:34

IN BRIEF: Zenith Energy to buy various oil production assets across US

Zenith Energy Ltd - Calgary, Canada-based energy company with production, exploration and development assets in Africa and Europe - Signs deal with Stateside Energy LLC to buy a portfolio of oil production and development licences in Oklahoma, as well as certain other states in the US. Says under the deal, Zenith will incorporate a wholly owned special purpose vehicle in the US for the purpose of acquiring oil wells and licence blocks, called Newco. Says Stateside agrees to sell its oil production wells to Newco, subject to the completion of a satisfactory due diligence by Zenith for a nominal consideration.

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26 May 2023 09:11

Zenith Energy shares up on plans to move into US market

(Alliance News) - Zenith Energy Ltd shares were up on Friday, after it said it plans to buy in the US.

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