Member Info for mls678

Even with the $5m from SNPC we still need a shed load of funding for well development.
Moving our rig...
Business development costs...
Travel...! (We keep raising for it)
I’d guess the next raise isn’t far away based on recent track record of monthly or more frequent raises.

15k at 6.48

DBAY

Won’t let this go down the toilet with their 51% stake.

Else they’ll have lost far more than any of us

TYB - the raising has been done for the next few weeks indeed.

I'd guess it's 3/4/6 wks until the next one frustratingly.

TYB. Have a look at how many placings there have been the last two years.

Placings often follow good news

Suggest before investing you all check Pg45 of the most recent 2018 Annual Results and then make your own view on our Executive Pay.

Particularly check out our CEO's pay and decide whether he deserves the huge increase in year on year pay for delivering a) a drop in oil production b) massive dilution in shares via placings and c) massive drop in Zen share price over this time frame.

Yet his total remuneration nearly trebled!!!!

Also do read the notes that follow this table and see the pay he receives from Zen & Zen's parent company...

Link to document:

https://sedar.com/GetFile.do?lang=EN&docClass=2&issuerNo=00026551&issuerType=03&projectNo=02926171&docId=4536628

Overall... Our CEO total remuneration jumped from 2017 @ $224,000 CAD to a huge $777,000k in 2018 mainly driven by a large jump in Short Term employee benefit.

2019 Annual Results due out in the next few weeks also - keep an eye out!

Look at how many placings there have been the last two years. DYOR and read the RNSs
They are literally every few weeks.
It’s a joke.

Which we announced back in October.

We announced it was good news back in Oct and the SP spiked.
We're announcing again today it's good news (it is).
Again look back at the RNS and you'll see lots of recycled news.

His son doing the Investor Relations and Business Development also screams looking after his own ahead of Shareholders - again in my opinion.

Have a look back at RNS here. You'll see a lot of recycled stories and delays and a lot of broken promises.
For example:

AC said to expect a "speedier and speedier drilling campaign in 2019" with 3x wells including a virgin well drilled also. Achieved - one well which failed.

We last minute decided we needed / wanted a Top Drive for the Rig incurring a delay to drilling.

Look at the SEDAR annual results pdf. Total remuneration (i agree including longer term items and not just cash) was $1.8m CAD and way out of line with the (zero in my view) results achieved.

I am all for good pay but we need to deliver first before rewarding the CEO for broken promises and lack of results.

Loan.

Is old news and a RAMP from Zen.

Look at the RNS on 24/10/19 announcing exactly this.

We're just recycling the news in my view.

I would strongly suggest you to have a look at the accounts on sedar.com and the HUGE remuneration our CEO is being paid (last year nearly $2m CAD and look at our MCAP!)

There is upside but do your research on the finances.

Further raises will follow (imo having been invested the best part of 2yr from 10p all the way to hear!

They'll be another soon. Debt to service, travel & expenses and of course money to drill when we get round to it....

Where is the Rig by the way. Never have i known an Oil company withhold or not update the market where their rig is...

https://twitter.com/business/status/1252286893720551424?s=21

Oil just hit $3 a barrel

The LOI won’t materialise and was designed to get us from 0.4p > 0.7p which means less shares for the recent raise.

I too very much doubt it’ll materialise.

Smoke and mirrors (in my personal view)

No. There’s a match trade for that. It’s defo a sell

Massive dump
Now -26%

And there we go then!

Pump & dump from 0.4p > 1.5p > 0.7/0.8p and now a raise....

You couldn't make this up.

Manipulation? (Note this is a question not a statement!)

So the Letter if Intent RNS was designed to get the price up for this? (Call me sceptical!)

£525k funding

https://www.pressreader.com/canada/stockwatch-daily/20200406/281822875908637