Member Info for panman

That was half the quote yes, looks better with full statement though imho.

"This period saw a 125% increase in trains despatched, however there is a reliance on Norfolk Southern ("NS") to provide trains in a timely manner, which is completely out of our control."

They had a half 1 production update 4th Oct if they're moving to quarterly's then we may know more next week?

Last interview Adam spoke of putting out quarterly updates (1 min) and of having 2 trains a week (11 mins ish)for the last three weeks so hopefully next quarterly will show more deliveries.

https://audioboom.com/posts/8415491-midweek-takeaway-featuring-adam-wilson-ceo-of-bens-creek-aim-ben-ben

He also mentions around 12 mins in that railways are struggling to bring in more than 7 trains/month?? which seems a fine no. for BEN and its holder.

Aussie coking coal looks to be breaking out again, or having a good go at it.

https://www.barchart.com/futures/quotes/U7F24/interactive-chart

Hopefully will drag the platts up a touch more too.

That seems very good news. Andrea's had a lot of bad luck with the way the different territories he's tried to operate in have treated ZEN in the past, good to see things finally going the co's way.

Hope he makes the most of it.

Thanks mick appreciated, I had to refresh the pg twice for it to show the $256. Will remember that (hopefully).

Nice price for met coal by the way. Good to see BEN getting better pricing.

I agree it could be if they are successful with their purchase of 50% of Devonian, along with getting their $25M bond sale off, move their rig to Kazakhstan with no issues then set it up and drill a gusher moving plenty of resources to reserves .

Then holders are in for a very good year and at the end of the day this is ZEN so what could go wrong?

(position holding a few considering a few more)

Good answewrs coming on advfn re ZENGAS and his warrants.. Doesn't look like there's as much to worry about as he makes out.

Is ZENGAS a troll on ZEN?

bad gateway

1 Jan '24 - 21:47 - 8057 of 8057 Edit

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Odd ZEN. You're using warrants to knock the co. claiming you've researched well and don't know the amount and timings of those already expired.

ZEN had 529,395,330 warrants to be issued April 1st 2022.

By 30th Sept 2023 298,033,092 had expired unexercised leaving the 274,839,785 that you picked up on from ambulance chasing your way through the results.

Another 55,176,667 expired early Dec leaving 219,663,118 to be issued.

There's 92,094,691 expiring 17th Mar 24 which given ZEN hasn't had any of its warrants exercised since April '22 will likely expire unexercised too leaving 127,568,427 in play.

These 127M have a very low exercise price but would only expect them to be exercised should ZEN successfully purchase at least the first 50 percent of Devonian, get the drill in place and have a very positive result proving up a large part of the promised resources for this megafield they're claiming to have.

Presuming that their both winning and being paid out for some of the court cases they're involved in will also garner interest as I believe the no's were fairly high but unsure on amounts and timings there so will leave that for another day's discussion.

Can't see the market buying the story en masse (or zen shares) til either of those scenario's plays out so barring what admittedly is potentially very good news think they'll continue to expire unexercised here.

P.S seems to be no indication they issue warrants in Jan historically not sure where you've picked that concern up from?

Given they had two days of no production + down-time periods for site and pump works too so probably fair to divide their 4,827 barrels for Nov by 27 days for ourselves giving c. 179BOPD at these rates.

Realise these aren't final production no's they stated a few months to settle in but looks a little better in the very short term all the same.

Agree no's don't look bad for them do they?

6 month Operating loss of US$1,191,601 with no production against a post results first months production revenue from one workover of US$255,032.62 net revenue interest.

Shows some promise going forwards imo

Sounds very much like they need this $250/T minimum going forwards. $280-$300 would be better..

"The early part of the 2nd half of our financial year has seen a significant rise in the High Vol B met coal prices, from a low of $191/ton to a current price of $250/ton. This will bring our sales prices to levels seen in the comparable period in 2022. This has resulted in an improved order book and it has allowed us to commit to sales through to the end of the third quarter which, if trains booked run to schedule, could see the Group produce its first monthly profit. We are also delighted to announce that a number of those confirmed trains have been negotiated with Avani to be shipped to India. This will help the Company enter the Indian market, which is a key target for the future."

No I'm not saying that at all Winni, just misunderstood your post. When you posted there were two overpaid part time execs I took it for granted you couldn't mean Parsons with his £150K + deferred bonus so that left the two non exec's on £34K each.

As to pg's you're correct I quoted pg 32 which is the start of the Remuneration Committees report as I took it for granted peeps would want both pgs not just the bit I wanted them to see.

The pg 34 you posted is actually the start of the "Statement of Directors Responsibilities" section I just didn't want to be seen as point scoring or unnecessarily embarrass you by pointing it out.

re the "big no's" not blinded but fully expecting the market to become so as the case progresses esp if they are awarded the €8M and receive it first Q or H next year. Think that'll be the wake up call imo and am more than happy to sit and wait for it to happen.

Not exactly a Sherlock Holmes are you Winni?

When you spouted your nonsense about the exec's being overpaid for their part time role I naturally assumed you meant the non execs and quoted you their wages from the same pg's you have quoted back?

Did you really not twig that even after I told you I was impressed they attended all meetings and they were heading up the committees?

Do you think maybe your hate is clouding your judgement here which is a shame and if you don't mind me saying a waste of your energy.

As to Parsons and Dennon I agree that £250K wages + pension payment on top is high for Dennon (but not excessive for aim) but don't see Parson's £150K as too high. Also am very impressed that they've both refused their bonus's of £60K between them until the co' is flush with cash. That won't happen until they're either paid the full 8M euro's they've estimated they'll be awarded from their partners....

https://www.lse.co.uk/rns/AST/upgrade-in-estimate-of-revenue-recognition-1fg0s83j82pnd6h.html

or failing that the €656.5 m from their main and rather compelling ECT claim so they're fully aligned with shareholder interests there imo.

So all in all I've no complaints about managements salaries. Think they're fair enough on holders esp as they're advertised plainly so we can all see what they are before investing.

Recognize you're going to vehemently disagree but then again would expect you to do see even if they win every court case they've entered into and make a massive payout to shareholders too so best just wish you Happy Christmas and be done with it.

Are you sure you have the right co. Winni?

I'm showing £34.5K each for the two exec's who attended all board meeting throughout the year and head up the various committees too.

Hardly seems excessive for AIM in fact looks fairly cheap for what they get.

Maybe you need a new and better paid job?

https://wp-ascentresources-2021.s3.eu-west-2.amazonaws.com/media/2023/06/266262-Ascent-Resources-AR-WEB.pdf

pg32 for wages

Only mean advfn Padd1, just they're quite noisy on there. Think its correct enough to call it the shorters thread?

Agree re the averaging down, that was a ridiculous thing to do and to then sit on the co's BB knocking every bit of positive news that comes out as the situation turns to the good for them well that's just sad imo.

Disagree however that the large court case win is their only play. Its a major reason to buy but not all they have to offer pi's Todays news that they're looking at 8M euro's from their crooked partner not 3.5M euro's is a big result not just for the initial cash but also for what they may be due from on-going monthly revenues from incumbent wells Pg-3, Pg-5, PG-6, Pg-7, Pg-9 (if it produces again) and the Dolina and Pt wells.

If they were owed more than twice what they estimated with the initial payment then what are they due going forwards from all this extra production? Likely more than they thought.

Just a case of being prepared to hold as the news comes out imho as its all turning positive nowadays as the co' appears to have moved to a winning formula.

Really do think the Slovakians should settle though, they keep losing AST keep winning that's great for shareholders not so good down the line for slovenian taxpayers.

Well if your thoughts are "great guy he's obviously got my number" then you're welcome ping.

If not then happy Christmas anyway and may you have a very prosperous New Year.

They're expecting results this week on the other site and consensus there is that they'll be poor leading to the eventual collapse of the co. as the sky falls so not too surprising to see the dip last couple of days imo.

Good to see metcoal recover today all the same thought the metcoal A drop may have been a precursor for a dip in B. Glad it wasn't.

Think you've been shown to be right on the buying the other 50 percent so will be happy with that for now esp as he doesn't reply to my emails and I'm blocked from his twitter page.

Apparently he didn't appreciate some of my comments re his past endeavours.

Can't imagine why I'm normally quite sweet but there you go.

Just watched the video again..

https://www.youtube.com/watch?v=O2W4APlKYR0

and after the presenter asks him about the 50% they're buying in Devonian and he's chatted about how great it is to have a mix of UK and Kazakh investors onboard re Devonian (approx 9mins in) he confirms that the plan is to drill, convert resources into reserves then discuss how to purchase the other 50% of Devonian.

Plan seems ok so long as the first well doesn't begin to prove up a megafield (presenters term). Wouldn't that take the price of the remaining 50% well beyond ZEN's reach?

Disagree its clear investverysmart and note that you haven't addressed the part of the RNS stating "what we expect to be a long-term and mutually successful partnership between Zenith Energy and Devonian Petroleum."

They are 100 percent clear in that statement that this is in fact a longterm partnership between ZEN and Devonian. A longterm partnership is not the same as drilling one well to drive the price up for Devonian so think this needs clarity from the co.