RE: RAISED FOR THE NEXT LEG UP4 May 2020 13:06
I beg to differ. So far they haven't bought anything. They have got rid of their 170bbls a day prod license but have not completed on any of the acquisitions pending. At the moment they have a lump of land under license in Azer that requires development and some minor producing asset in Italy.
If and when any deals cross the line then as has been said before, Zen will need a lot of cash to service, maintain and develop what they have. The cash in the bank will not go far. Unless someone with deep pockets wants to take up the unconditional bonds once a couple of deals are over the line, there will be more small cash raises for 'operational expenses'.
The aim of the game with Zen just now is to buy dips, sell on any decent Sp rise, rinse and repeat.
Tunisia is a 'conditional SPA' subject to approval by the authorities, and the funding of the purchase, other than the 500000 consideration is also reliant upon their being an offtake agreement.
Andrea may well bring it together but just now, they have very little in terms of assets.