Member Info for SEA7

those trades that are going through at 4.0199 are buys, not sells - I have just obtained a buy quote at 4.0199.

This shows further weakness in the price - this indicates a seller in the background and unless we see sustained buying, a drop to 3.8p on the bid and 4p on the offer is on the cards.

yes it is still all up in the air at the moment...

this article (pages 16 and 17) gives a good insight into the discovery at tilapia -- the last discovered 12m oil column during drilling in the djeno, brings the total aggregate payzones encountered in the well and confirmed by wireline logging to 56 metres.

https://issuu.com/edwardogi/docs/ogi_spring_2019_digital

do not recall this being discussed from aaog....

Zenith Loan Agreement



Further to the announcement of 6 January 2020, the Company confirms that it is currently perfecting the security to be granted to Zenith Energy Ltd ("Zenith") pursuant to the loan agreement between the Company and Zenith. This requires the re-registration of Anglo African Oil & Gas Congo S.A.U as a "multi shareholder" company in the Republic of the Congo, which is an administrative legal process. Accordingly, the Company has not yet drawn the £250,000 available to it pursuant to that agreement but is confident of being able to do so in due course. A further announcement will be made once the security has been perfected and the loan has been drawn.

In the meantime, and following receipt of monies from Forum Energy Services Limited as announced on 20 January 2020, the Company has sufficient cash to continue trading until the end of March absent the loan from Zenith and any unforeseen valid claims.

hi gary,

thanks for that clarification - it would appear that he was sold something that wasn't technically available to be sold to him,
either way - I am also still holding and adding.

scamp - twain only said it, because he clearly bought into a mining prospect that yielded nothing.

he is documented as going to California in the gold rush - he clearly got sold a lemon, hence his quote..

£8m mcap for a company that has in excess of £2.3m in cash and is generating £5.2m annualised operating profits.

Revenue of nearly £12m for the six months to end december 2019

and an off balance sheet item - the tailings facility with over 82k oz gold contained in it.

Bargain price to buy this at , especially with spot gold at $1580 oz

scamp - buffett did not get where he is today by blindly following the market.

Mark twain is recorded as saying....A mine is a hole in the ground and its owner is a liar.”

it is worth remembering that Mark Twain was one of thousands of people who flocked to california during the gold rush to make their fortunes - you can probably work out, why he said, what he said.

anyhow, markets are taking another beating today - to be expected given sentiment based on the china virus.

Buffett also says that you should buy companies that are on the operating table - in other words having some issues, that are depressing the share price.

Buffett was, as we all know, a student of ben graham, who believed in buying companies below their net current asset value.

Block energy, net current asset value, as at the last set of accounts was 2.67p. This means that you are currently paying about 1.5p per share for the current production levels, the licences, the fixed assets and the prospectivity of the fields.

I would expect NCAV to have dropped a bit, as they are spending on drilling, however, we have good plans in place to deliver on the objectives.

There is far less downside at these levels than there is upside - i have added to my holding.

they deferred payment of that $14.3m to end december, then got a further extension on the forebearance to end of jan 2020.

what is deans plan, as he knows all this

greenfields md and a to end september 2019..

Effective October 31, 2018, the Corporation and its senior debt lender Vitol Energy (Bermuda) Ltd. (“Vitol” or “Lender”),executed the thirteenth amending agreement (the “Thirteenth Amending Agreement”) to the Loan Agreement dated November 25, 2013. Pursuant to the Thirteenth Amending Agreement: (i) the principal amount plus accrued and unpaid interest under the Loan Agreement as at October 31, 2018, in the aggregate of $53.3 million, was converted to principal (the “Third Restructured Amount”); (ii) the maturity date of the Loan Agreement was extended from January 15, 2020 to January 31, 2021

....

they are going to convert the majority of debt to equity.

dean clarke only took a significant position in greenfields, about a month ago.

barbados not bahamas ffs!

it is christchurch barbados and he became a significant insider in zenith on the 8th Feb 2019.

he is also a significant insider in greenfields petroleum as of 27th December 2019..... Greefields petro is active in azerbaijan - they are in the offshore bahar project near baku and in the gum deniz oil field, offshore.

thks orjones- he has been buying zenith for ages and is definitely a significant investor

former banker that lives in the bahamas.

yep - there has been relentless buying since 14.30 and yet the price stays exactly where it is.

bit of a manufactured drop since lunchtime - clears out those that bought in the 5's - hoping for a quick profit into the 6's.

he now owns 40m shares.

I see that Dean Clark had another 5m yesterday at 1.74p per share

https://www.canadianinsider.com/node/7?menu_tickersearch=zee

yep rocklawn - I have added at 4.188