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Would be good to get some follow on news to take care of the stale bulls. To be fair was a beggar of a job to sell 10k shares yesterday at market price so maybe a background seller at work?
Whatever good to have had decent newsflow and quite sure if they 're as successful as they sound holders will do well.

Sog.

Yes very good news this morning. Think Pugg1eys right!

Thanks Dibs, they're chatting about this on advfn too. Needs care though if trading I just did a dummy sell as I'm overloaded here and was only quoted 8p for 20k shares (I.G) so a few shares available I guess.

Yes but if fundy's gone positive does anyone else need post?
Go Fundy Go Fundy Go Fundy!!

Thanks for the reply Miller. Does look like my post from the 21st was fairly prophetic with the sp falling on a daily basis as frustrated and mushroomed pi's sell out and move on.
Presume at some point value holders will buy in and wait for the news spike to sell out and the cycle will continue.
Will it cycle higher or lower is the question I guess.

"As we know many of the placing participants agree to take part in the placing without actually having the cash to buy the shares. So they borrow shares and forward sell them, "

I don't know that as a fact and believe its frowned upon greatly since the NEW placing went so badly for quasi illegal forward sellers?
Where is your info coming from that this has happened?
Are you just making this up and posting it in this brash manner because you think everyone will believe you if you claim it as fact?

Just asking like.

Have asked the bears opinion could i just ask those in for the first drill how many of you would give up and sell if the first smaller and lower COS drill dusted and how many would hold/buy more for Wild Horse?
Sorry to put you on the spot but if you aren't planning to sell en masse I can't rely on fundraiser's 6p scenario tp play out.

Thanks for the reply fundraiser. Not sure i agree totally on playing it that way but good to know others intent.
What happens if the 90mbbls does come in? What price would we expect to pay that day given Wild Horse is to follow straight after?
Also presuming some will be in for the first drill (as thats just the way things go, 2 sides to each trade etc) what sp level will we be at anyway when this 100% presumed duster is announced as if its around 9-10p then the markdown may only be slight and the hordes who are waiting for that very moment to buy in for Wild Horse may make buying difficult?
After all who's going to sell on that day given the real action is according to the bears just about to start?
Trying to work out a strategy here may be more difficult than i thought.

So matd's just over 9p now. Theory is that the first drill will dust then its going to 6p we all buy in for the 2nd drill which we all hope will be a success and the sp goes to what level on that one?

Possibly but they didn't raise all the money they needed so they have to move forward henceforth with absolutely no further cockups. Can zen do that?

Confusions a funny state though. You never know what direction you're going to leave it. In that vein at what level does retail start to panic they're being left behind here again? Wouldn't have thought your average pi would let it ride too high on any turnaround before beginning the nibble that becomes the avalanche?

They seem to need better PR. Recognise they can't just make up newsflow but they do need to realise they're on aim and there's competition for shareholders if they want to have anything other than a share that spikes on news then collapses and dies for 6 months due to investor apathy.

Understood. Hope it comes out good for us all JSB.

Agreed. See the placing RNS has arrived and it was successful. Hopefully just patience but we were doing that anyway so no big loss there. Just a loss to the pocket til the "rigs arrived" RNS appears.

No.1 its his fault we're in this mess with his underpowered drills and inexperienced crews. No.2 Whilst he's sortiing out the recovery of his own fortunes he'll sort ours too.

Thats up to you JSB. I do.

Kinda helps knowing he's suffering more. Best get the Z's right then zen.

Reminder from advfn boards. CEO's hurting with this dilution too. No wonder he only wants a small raise at these levels Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE), the international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that Mr Andrea Cattaneo, Chief Executive Officer & President of the Company, in accordance with TSX Venture Exchange ("TSXV") rules, has now fully swapped his salary for the 2018 financial year in exchange for common shares in Zenith ("Salary Sacrifice Shares"). As a result, on May 1, 2018, the Company issued Mr Andrea Cattaneo 1,123,068 common shares ("Salary Sacrifice Shares") in the capital of the Company at an average price of CAD$0.165 (approximately £0.094) for the period from April 1, 2017 until March 31, 2018. The amount of the Salary Sacrifice Shares was calculated based on Mr Cattaneo's salary as at April 1, 2017. https://www.investegate.co.uk/zenith-energy-ltd/rns/issue-of-ceo-salary-sacrifice-shares/201805040700091003N/

*been* very successful