Member Info for pawnsacrifice

Think thats their plan they're just not very successful as they've never had the right rig for the job?? The Company's Board of Directors has decided to defer a decision on whether to proceed with the Proposed Acquisition until the second half of 2018 in order to focus on the near-term achievement of its operational objectives in Azerbaijan. https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/update-on-proposed-indonesian-acquisition/201805160700092001O/

Whens their 2nd half? I thought Sept onwards? The Company's Board of Directors has decided to defer a decision on whether to proceed with the Proposed Acquisition until the second half of 2018 Due diligence ended on the 15th June and their exclusivity rights end about now.. "The Company has exclusive rights to complete the Proposed Acquisition for a period of 90 days from March 23, 2018."

Hopefully with them stating minimum dilution until the sp has risen substantially Indo won't happen now. They can hardly place again after that statement so either they get the rig sorted pronto (and get one big enough for the job this time Andrea) and get very very successful on the Z's or they forget expansion until they have had some success. Does mean Andrea may lose his 100k. Anyone bothered?

Yes good its not for the indo asset but looks like they're in the last chance saloon now. Get the Z's right or they're toast. Can't see them being able to raise again above a penny if they fail.

Charts have been saying ntog would drop for a while. Posted the same weeks ago but got lost in the noise back then.. NTOGRE: aim oils31 May '18 Tend to agree. Don't think theres enough investors to go around anymore on the aim circuit and thats main reason these rises don't hold. dead right its very low volume but sat right on support imo needs to hold or the 200dma beckons around 3.3-3.4p. daft but there you have it. need a few 100k buys to save the day. Good to see the bounce of the 200 today though.

I bought some earlier and got the sell price for my purchase. Doubt I'm alone. Wondered if there was a background seller put an order in at 8 am or something close to that scenario? Would explain the drop in the face of what appears to be decent buying today.

Only if the shares go up and quite substantially to get that many away at profit. Would suggest they didn't go through all the effort to sell for 11p.

Agree the placing was bad for holders not invited to take part in the placing MON1. Have no problem accepting LTH's have had a bad deal but do question why the "family" would want more shares at this £66-£70m marketcap? They must be 1. in the know and 2. fairly sure of making profits from this level. Think thats the main reason I had some at this level myself. Belief that the "family" will be right.

Been wondering how long these 21 wells will take myself. If its going to be years then production isn't going to climb very quickly. Thinking an amicable agreement out the blue from Egypt would be handy about now.

I think there'll be a rise prespud. With the bears insisting we should believe there'll be no drill think it'll happen once this occurs.. Update on current operations: Permitting and civil works for the Snow Leopard well are now complete. Sinopec, the rig operator, has commenced mobilisation of the rig to site and the Company expects to spud the well in July 2018 Once they've spudded it would be difficult to claim they won't drill.

Agreed share. I was just noting they're not quite so commited as I thought which I've taken as a good thing in that indo isn't just something they've bought to distract pi's from azer ops.(imo)

Don't know fundi. I always find the greatest risers tend to be the ones that experts such as yourself claim have no chance of any rise whatsoever.

Thats fair comment. I'm UK but don't have the inside scoop on the UK oilers nor on what the next round of gov legislation will be here. A pi is a pi is a pi no matter where we live I guess.

UB=Uzbekistan?

kefi's a bit cheap isn't it? Thought aaog's discount was bad enough. Agree MATD come out looking ok.

Well its due diligence day. Should be RNSing soon if they're going to buy. Interesting to note however that their period of exclusivity runs out in a week too and they're not due to make their decision til the 2nd half (Sept?). Guess they're quite likely to lose the exclusivity if they don't act fast. Hopefully they're focusing on Azer first and foremost and are happy to let indo go if necessary.. The Company's Board of Directors has decided to defer a decision on whether to proceed with the Proposed Acquisition until the second half of 2018 in order to focus on the near-term achievement of its operational objectives in Azerbaijan. The Company has exclusive rights to complete the Proposed Acquisition for a period of 90 days from March 23, 2018. https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/update-on-proposed-indonesian-acquisition/201805160700092001O/

Thanks john I saw the 136m was 26% and times by 5 not 4. Told you it was early. Thanks for the correction.

Been doing the maths quick. They say the new shares represent 26% of shares in issue so I come up with approx £70m marketcap at 10p? So an extra £7m per 1p rise if thats right? They better get drilling and be successful as they're getting dear imo.

Apologies for not DMOR its early and I,m busy. Could I ask what the marketcap is at 10p after the placing. Want to buy but need the cap first.

Yes must admit that a discounted placing to buy indonesian assets does bring out the night sweats. Figure even if they do find anything there they'll get ripped off by the indo authorities so whats the point? Might tun out to be a co. ender.