Member Info for itisagame

They certainly are a red flag, something is really wrong with the market and its regulations when the company can have an open short against itself.

My gut says they have approval, if they dont its one big bluff.

I dont think SNPC are too happy that the deal values their share of the license at less than the debt they to AAOG Congo, as It must make it harder for them to arrange financing or justify repaying the debts at the moment but Zen committing to pay the license fee "Bonus" is the bribe that the officials need, we know its all about the palms you can grease.

Infact that might be why Zen just took one on, AC has diluted his own voting rights alot over time, this would hand him another 50m votes, which for example he could use if disappointed shareholders decided to put an EGM forward with a resolution to boot him out; he could vote to keep his own job, just a bit of a conflict of interest.

"Equity Sharing Agreement
Zenith is pleased to announce that it has entered into an equity sharing agreement ("ESA") with a consortium of institutional investors ("Investors") for a total amount of NOK 9,700,000 (approximately £810,000 or US$1,051,000)
Highlights
· Subscription for 50,000,000 new common shares in the Company (the "ESA Shares") by the Investors at an issue price of NOK 0.194 per ESA Share (the "Issue Price") to raise gross proceeds of NOK 9,700,000, representing approximately 9.86% of the Company's enlarged issued share capital (the "ESA").
· The NOK 9,700,000 gross proceeds of the ESA will be pledged by the Company pursuant to the ESA with the Investors. The ESA, details of which are set out below, entitles the Company to receive back those proceeds on a pro rata monthly basis over a period of 12 months, structured to commence one month following the subscription of the ESA, subject to adjustment upwards or downwards each month depending on the Company's share price at the time.
· The ESA provides the opportunity for the Company to benefit from positive future share price performance."

are you on about ICON (was WDC prior to rename) - He was a director but 'stepped down', he told everyone he was putting a £1m advertising campaign through it that has yet to appear, and was positioned there by EGHOS who milked shareholders with an ESA / ISA type deal that we had.

If you are trying to find the problem Its the ESA / ISA funding that is becoming the bigger problem with aim companies now, as more are taking them on over standard CLNs, and as shown here when the company directors can use the voting rights for shares that have been issued but not yet paid for against paid up shareholders it can give voting control to the directors at no cost to them.

depends on where the debt is held, lots of money was drawn from AAOG PLC to AAOG congo, so AAOG congo owes AAOG PLC money on the books, and AAOG PLC would be listed as a creditor If AAOG congo was liquidated, apart from the listing costs and funding the ATOG fiasco AAOG PLC should have very little debt, most will (should) be held at the congo level.

There isn’t anything positive that’s impressive, just the ability to raise more cash than the whole £50k a month our board was “negotiating” from Riverfort by CLN.
Neither seem to be able to raise even £1m in one chunk, zen got close but not quite.

But if the drill goes ahead in April and AAOG have received some cash from them and we have the license beforehand I’ll change my mind.

Director/ PDMR Shareholding


Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, announces that its Chief Executive Officer & President, Mr. Andrea Cattaneo, has advised the Company that he purchased a total of 350,000 common shares of no par value ("Common Shares") in the capital of the Company at an average price of £0.0141 (approximately CAD$0.024) per Common Share on the London Stock Exchange.

That’s what I was thinking, I have no idea either.

It wasn’t the answer from pxp that I wanted, but it was the one I got, if you want the same answer their email is on their investor relations page.

I still think It’s too close of a connection to not be linked and I don’t see why you would set up a company with pretty much the same name as your old business unless he had some old personalised stationary he wanted to use up.

Btw This is my only account I have no avatars.

Andrea Cattaneo @CattaneoGenoa
·
4h
Visited Tilapia once again today, I’m looking forward to contracting a fully inspected drilling rig to produce the Mengo and potentially transformational Djeno horizons at the earliest opportunity post-completion #ZEN #ZEE #AAOG

I see a picture of a tanker, was that there just for the PR pictures? :)

https://ukinvestormagazine.co.uk/forum-energy-invest-into-anglo-african-causing-shares-to-spike-over-14/

“ Anglo African said that Forum Energy Services Ltd (NYSE:FET) had taken a stake in the company, as shares jumped”

Suppose They got that report wrong “nyse:fet”?

Had a reply from PXP, guess I was wrong... but it is the same Paul Forest.

“No, Forum Energy Services is NOT an entity owned by PXP. Mr. Forrest was previously corporate secretary of Forum Energy Limited which is the subsidiary of PXP. “

I Can’t remember exactly but wasnt the £14m they have in cash due to show in the next account reporting period ? A June /July transaction? We picked up on it before.

And all the forum companies mentioned are owned (in part atleast) by PXP.

My belief (yet to be confirmed by the company) is that The “forum” companies are all linked and I believe Paul is holding the shares of energy services on behalf of the enlarged group, as he was a director previously for the larger company.

Forum energy services is >75% holder of saltfleetby, the same subsidiary that has purchased ~25% of shares here.

“ Lofgran states BREXIT as part of the problem for the SP dropping”

Lol so the 20-30% drop (at points) in the £ to $ was a bad thing for a company that has all US assets? And has $ based income?
And that also lowered cost of the parts of running costs that are £ based (like the listing) ?

Worse case I think forum just bought a customer, £500k+ will be spent on fracking equipment and services at Congo easy so overall they will get their cash back one way or the other, they might even give AC a credit line, in exchange for charging him a bit more, that then opens up business supplying his many other projects.

Forum could have the technical knowledge, links and contacts he needs to make the whole group work.

I was wondering how many shares do zen actually have?
Is it zen 1.4b shares in issue In total across the 3 listings? Making their Mcap total ~£20m atm? Or are TSX / Oslo linked ?

London 286m
Tsx 577m
Oslo Børs 577m
Each says 1 voting right beside it in the rns.

Was a Funny read. Clap clap. It’s been going on for to bloody long.

I think “ZERO O&G” would be a good company name.

Sounds carbon free, greener, lighter and healthier. And would one up BPs latest moves.

Didn’t this same vote happened 3 years ago at >7p on the mother of all short squeezes but then they had another vote and the board screwed shareholders with another undervalued placing as soon as they could, after they had another vote, at pittance to let YA out of the bind instead of making them buy on market or close to market price. I knew then that the board were not suited for running a plc but their trough kept being filled.

Let play a game, pick a subsidary take an RTO target guess.
https://www.pxpenergy.com.ph/home/our-company/group-structure/

Ill guess blindfolded with finger in the air............
https://www.pxpenergy.com.ph/service-contracts/sc-40/

no actual reason apart from that its a 100% license owned by a subsidiary, and im guessing they want to farm out to split costs.
"in early 2017, another gravity survey was conducted to investigate an apparent structure in San Remigio, which was observed from the results of the previous survey. Forum also reprocessed a number of onshore and offshore 2D lines in preparation to a block-wide re-evaluation of SC 40. The aim of the study is to generate prospects for drilling. "