Member Info for pawnsacrifice

According to the original RNS they had to pay $500k for the purchase. They've paid $250k and state that revenues from the field should cover the rest so yes some revenue at least. Will have to wait to see how much but good to see them successfully pulling this off imho.
https://www.investegate.co.uk/zenith-energy-ltd/rns/acquisition-of-sidi-el-kilani-from-kufpec/202004200916341779K/

This may have an impact when its realised its a producing asset..

· SLK is one of the most productive fields in onshore Tunisia and currently produces, natural flow, at a rate of approximately 700 bopd.

Given that ZEN have stated they have no more to pay as backdated production covers the rest of the price of the purchase it must still be doing ok.

Thats good news! A producing asset so with no further payments needed.
Wouldn't be at all surprised to see ZEN come good this year.

It is expected that the production revenue generated since the date of signing of the SPA will be sufficient to fully satisfy the second and final Consideration payment to be made by the Company to the Seller for the Tunisian Acquisition by October 2020. Zenith does not therefore expect to raise additional capital to fund the Tunisian Acquisition.

Likely to be extended in these extreme covid effected days imo even if only because no one else wants it.
Did see a couple of positives in the note posted last night. Namely the rig is expected to be moved to Africa soon and the purchase in Tunis is still ongoing re the 700bpd purchase.
"If" they suddenly rns they've got production theres chance of a turnaround but not holding my breath.

re todays rns..
"The cost of workover potentials identified is low, as compared to the cost of a new well, and given that the workovers sit in the developed part of the field, they are straight forward to bring online."
Some things are just common sense.

Can't see the rush in opening up the 10 wells for 130bbls can you partridge.
Todays announced 84 bbls out of 4 wells sounds more economical. let them reopen these 10 when we get back to $50 + oil.
Maybe a good question for tomorrow all the same.

Don't think any traders are going "to sit up and pay attention" T.O.
Not being funny either but all I see is a poster who's admitted to holding onto an 85% losing position whose now claiming expertise through failure.
Boards are cluttered with posters such as yourself, would be far better to be able to click on your handle and find you posting on a board where you're making tons of cash then we'd listen (or i would anyway).

sorry for being lazy but what time is time with the team tomorrow?

He appeared to say $60 to restart drilling in Egypt? If I got that right I'm "hoping" that oil sits around $50 for a while so they get chance to build a decent cashpile before committing.

"$40- $45" not 4 apologies.

Brent's looking better. Started closing its $5 gap between $4-$45 USD.
Can't hurt cashflow either.

Yes I was happy to hear the "no placings" comment. Puts to bed the main scourge of the long term aim share holder.
Not worried about the day to day now and will hold as the story unfolds.

Thanks jupiternmars, agree good interview.

They sound quite keen to push forward though and making the point the drilling programme is only deferred.
Still hopeful for a rise in oil myself so good to see the potential should markets improve.

We firmly believe there is significant additional potential across the Abu Sennan licence - and with further development going ahead to bring gas from the ASH field into production this year, and with a deferred drilling programme ready to be re-instated should market conditions improve, we are looking forward to further activity and newsflow from the asset."

Brents getting a bit exciting (possibly) imo.
Theres a gap on the IG charts between $40 and $45 and a bit then its on track to hit the 200dsma at $50!
Won't hurt the cashflows here at all if that happens.

Looking at the volume recently I'd say they've already been sold .
Shame he gives so much away and so cheaply though.
The last contract here was only for £400k and these shares have added that to the marketcap on their own.
As daz posted another 70m to go. Way to quadruple your money TPI.

Been there too MrTrotter, hope it all turns for you soon.
These have just had the 1 share trade go through. Not sure if its significant but its happened all the same.
ATB,

While we wait has anyone noticed brents up yet again.
Closed my long at $32 thinking I'd done really well and it hasn't stopped rising yet. grrr
Worried now not only about the gap between $40 and $45 closing but of the 200dma being breached at $50.
Suppose i could buy the long back that would halt the rise. lol

Thats all they can do with this new covid wrecked world imo. Very happy with developments recently, will continue holding whilst the positive newsflow continues.
Good news seems to be becoming the norm here. I like it.

25% according to the 1st may Rns. unless i'm reading it wrong?
The Adjourned Noteholder Meeting will require a quorum of 25 per cent. of the aggregate principal amount of the outstanding Notes, being considerably lower than the 75 per cent. of the aggregate principal amount of the outstanding Notes that had been required for the Noteholder Meeting.
Voting instructions already lodged by the Noteholders remain valid for the Adjourned Noteholder Meeting and the relevant Noteholders need take no further action to be represented at the Adjourned Noteholder Meeting.