Member Info for itisagame

No more for me, I did £750 the other day at .16p.
And I’m Down >£10k since I started buying in December at 0.7p, I’m at ~1.5% now and it’s not been my best trade for sure.

Fingers still crossed.

Bye James.

Sarah or Phil next?

That explains why people said there was bodyguards at the meeting the other month.

Someone should contact him and the nomad to confirm this, maybe public message him and the zenith account on twitter too.

how much are zen exposed to if they bail out of the AAOG deal?

"The SPA contains commercial warranties being given by the Company which are commensurate for a transaction in the nature and size of the Disposal. Zenith is also making warranties concerning itself and its shares to the Company which are commensurate for a transaction of this nature and size. "

is it even worth it for Zen now? issuing AAOG £500k in shares now potentially make them a 15-~20% shareholder.
(last trade shows as at the 0.355p)

interesting post on zen bb

http://www.contact.az/ext/news/2020/3/subsc/economics%20news/en/122437.htm

I hope you have read this Sarah, James and our nomad. How are they going to pay us, or cover drilling costs? how are they the better option over the alternative deal at the time?

$23 wti
$26 Brent

Wow. That’s the lowest I’ve ever seen.

How much longer can we last if the board are on £94.25 a week sick pay.

20/1/20 rns if you believe it.
“ The Company continues discussions with RiverFort regarding a convertible loan facility. However, the immediate need for, and the [potential] quantum of, any such a facility has diminished given the proceeds from the block sale of ISA Shares. Further updates will be provided as appropriate.”

Hope someone has a plan, last Zen trade at 0.415p, at that the £1m headline ticket price of our deal is almost half their Mcap.
Maybe zen is the secret RTO target ;)

If you do speak to them ask them to declare who has been issued the last two placing shares, maybe give them a nudge and a reminder about the rules around issuing TR1s.

Another £45k Placing next week?

i hope it works for them, held shares there for years, its not been a good ride, and the markets are not favorable to O&G at the moment. Natural gas is 24p atm, they based all their projections on 50p average.

In reality Angus will be lucky for it to cover their running costs for the whole 10-12 year period, especially if you add in the needed future exploration expenditure and what will be the inflated decommissioning costs at the end of the project.

the biggest surprise i saw when i read it was the £49 per barrel water disposal costs ( right now thats double the current oil price !).

i hope they sell it once its up and running, but for the £1 upfront purchase price the income should keep the lights on.

Forum did the right thing by offloading half of it and removing their burden of decommissioning costs.

The lost tenner is currently priced at 10p to buy it, so A quids a quid and a better return than not finding anything.

Or You can keep looking for the lost tenner that expires in around 90 days and if you found it there would be a £20 finders fee.

Nice spread. £350k Mcap vs £2.8m Mcap lol

Everyday it drags on the higher % stake we get in Zen.
Currently sub 1p 14 day vwap, another week as it is and the vwap will drop to 0.7p.

Could be close to a 15% stake if it carried on.

Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, provides the following update in view of the recent volatility in oil prices and financial markets.

As announced to the market, Zenith has centred its strategic focus on pursuing large-scale, revenue generating oil production and development opportunities in Africa.

Zenith is in the process of finalising the following, publicly announced, acquisitions:

· Acquisition of an 80 percent interest in Anglo African Oil & Gas S.A.U ("AAOGC"), operator of the potentially transformational Tilapia oilfield in the Republic of the Congo with a 56 percent interest. Completion of the acquisition of AAOGC remains conditional on certain regulatory requirements in the Republic of the Congo which the Company is expecting to achieve imminently.

They could actually do that with forum or saltfleetby as a way to extract the £12m to their own personal pockets, RTO one or the other for a purchase price of £Xm in shares and £XXm in cash funded by a capital raise / bond / or borrowing using the £12m currently in saltfleetby as security, then the newly raised £12m+ is paid to the current owners and it becomes unrestricted and personal funds belonging to the current owners of Forum/ Saltfleetby.

With the cash extracted and in their own pockets the extra cherry is that they will make on the remaining shares here and AAOG would still have the cash in its bank.

Now that would be interesting.

Was looking through old news last night and still can’t believe they went through an average of >£1m a month since last January and have nothing to show for it, not even a license renewal. All admin costs and a couple of months related to drilling.

Remember the “$5 per barrel cost “ that was quoted.

It Will be A week tomorrow that mr/mrs 4.9% has had their shares, no TR1 yet.

have They have Broke the two day reporting rule or is the nomad holding it back.

If there was a rights issue at this price couldnt ARCM buy 140m shares in said rights issue to close their shorts at a 30p-£1.10 profit per share?

could be a good exit plan, they can always take another short position at a later date.