Member Info for SEA7

This is what they are going to do, which you will have noted has all been pushed back into "later this year and next year"
They are looking to acquire other acreage - which means haywood will be off hunting licences and not focused on the job at WR....

In Q4 this year we will sidetrack West Rustavi well 38, a neighbour and analogue to 16aZ. Two further wells, West Rustavi 30 and 3 will be sidetracked through H1 next year, and their associated gas discoveries tested. We will acquire a 3D seismic survey this year which will allow us to identify optimal locations for new gas wells and horizontal oil wells to be explored next year. We will also continue our ongoing workover programme at Norio, and have scheduled the field's well 60 for sidetracking later this year.

The funds raised also give us the freedom to explore fresh opportunities: we are a young, ambitious company keen to apply the low cost, innovative drilling technologies we have deployed in Georgia to new ventures in the region and beyond. Today marks a major step forward for Block as we move towards our objective of becoming one of AIM's newest mid-tier oil and gas producers."

not really shocked findahappyplace,

some of these placees will have had short spread bets open on this. They will have been selling their placing stock, watching their short increase in value and if they exit at below the placing price, then so be it, the net effect of selling their placing stock and then closing the short, plus their fee for accepting the placing stock in the first place, means they will be in profit, no matter what.

Those that engage in placings like this do so daily - it is their bread and butter and is a good earner for them.

This is AIM - expect nothing less.

terrier - from the placing circular....

The Placing has not been underwritten.

Sadly haywood is going along the same route as others have done. - had a bit of a success and then suddenly want to acquire new licences and expand, rather than simply focus on what they have, get it producing at an optimal level, then and only then consider further acquisitions.

from the presentation...

Platform to acquire acreage and build regional oil and gas company

Evaluating additional blocks with oil shows and production history

Secure additional licences in Georgia and the wider region

whilst it may be a sensible forward plan, as oil pools are ever decreasing assets and need replacing, they have plenty to keep them occupied for some time yet.

I should say that the free open source equivalents also offer the word and other apps, so the excel equivalent is just one of the apps they offer.

gary - looks as though gumbo has answered that.

If you do not have excel on your lap top, then apache open office or libre office - which are free open source equivalents of microsoft excel should work - if you download either of them.

Maestro - I think it is because someone who posts on this board, was on the block energy board de-ramping it and he got annoyed and came on to this board to do the same.

according to the lastest SETSqx listing - block energy is number 436 on that list - updated weekly - click link and download spreadsheet from "list of SETSqx CCP securities - updated weekly."

https://www.lseg.com/areas-expertise/our-markets/london-stock-exchange/equities-markets/trading-services/domestic-trading-services/setsqx

Block trades on SETSqx which is a hybrid of SETS and SEAQ...

SETSqx is a hybrid trading system, combining features from SEAQ and SETS, and is designed for securities with reasonable levels of liquidity, but which may at times require market maker quotes to maintain levels of trading. As such, the electronic order book is split into a quote book and an order book – the quote book being the listing of quotes by appointed market makers, and the order book being electronic orders entered as they are on SETS.

parkez - you get a better plain english description here in my view...

https://aim-watch.com/articles/lse-auctions-explained/

excerpt..

For instance, you may really like the potential of a particular company and want to hold shares for several years to see how the company and industry develops. In the near-term, though, you have no idea whether or not the current price is good for their current operations. In this instance, placing an order during an auction would probably be the closest you’re likely to get to a fair price as things stand during that day.

jay - if you were hearing bad rumours coming from Azerbaijan - then you would have posted those rumours, instead
of a cryptic - "i know something, you dont' know" message.

Please post the information, with supporting evidence - thank you.

The part required is scheduled to arrive at the end of may.

The previous strategy hasn't worked out, so they stopped and focused on getting their own rig. They have done that, got it on site at a new location, after a review and are expecting to drill in june.

We wait patiently and they are still pumping c 250bopd from other wells.

At least we know who andrea granted the call option to.

Mr Clark has entered into an option for one million shares.

Filing Details
Issuer Name Zenith Energy Ltd.
Insider Name Clark, Dean Antony
Relationship as filed with regulators 3 - 10% Security Holder of Issuer
Transaction ID3369597
SEDI Amendment Number (INK Adjustment)0
Filing Date May 19, 2019
Transaction Date May 13, 2019
Security Type OTC Calls (including Private Options to Purchase)
Transaction Nature 11 - Acquisition or disposition carried out privately
Ownership Type Direct Ownership
Registered Holder
# or Value Acquired or Disposed of 1000000
Unit Price or Exercise Price$0
Closing Balance 1,000,000
Conversion or Exercise Price 0.1
Date of Expiry or Maturity 2020-04-20
Underlying Security Designation Common Shares

https://www.canadianinsider.com/ca-filing-details/3369597

barnet...

since 3.47pm today in five trades

£133k share sale at 11.50p after hours - 1.1m shares
£81k share sale at 11.62p - 700k shares
£60k share sale at 11.50p - 524k shares
£32k share sale at 11.50p - 280k shares
£31k share sale at 11.50p - 274k shares

Thats £337k or over 2m shares dumped on the market this afternoon in five trades only.

I am guessing that these and the other, in excess of £10k shares sales shown today, do not share the same confidence that those on this board seem to, regarding the ability of this stock to show share price appreciation in the medium term.

This will be wading through those placing shares for ages and as the company has put back drilling on w38, it has lost momentum as well.

Probably be below that placing price next week and into single figures.

getting closer to the drill bit turning on their new drill and the commencement of the new strategy.

they are currently at 270bopd or thereabouts - so all to play for. The well they are deepening was only producing 5bopd, so we know its a producer already. They are not wildcatting.

yes the oil is definitely there in zens patch, they just need to demonstrate that they can achieve it with this rig. One decent
success and we have plenty more to choose from to drill

hTTps://twitter.com/zenithenergyltd/status/921304861693575168?lang=en

anything can happen in these fields - !!

degsy - big institutions do not buy micro cap, former soviet union oilers. The market is not deep enough to take a large enough stake, to actually move the needle in terms of a return.

Then again, It depends on your definition of big.

why buy in the open market, when you will be offered discounted stock, sweetener warrants at a low price and probably even fee for the work.

yy - hope doesn't come into it.

The entire aim market, behind the scenes complex is in full swing on yet another placing, by yet another company. It doesn't matter if the story is great or not. There is an entire system up and running, purely designed to find homes for
placing stock and enrich everyone along the way, with the exception of the bag holder - ......... the bag holder, is the person
who is left holding the stock at the end of the line- that being the retail investor.

Not one of the players will be holding stock - it is simply a cash generation exercise for all involved.

How many placings are done on AIM every day - loads, you think these guys need to hold the stock - pah- not a chance.

Well, despite you giving me a hard time and pouring scorn on what I was saying about a placing announced at the same time as an ops update, it would appear that a placing has indeed been announced.

After hours announcement as well, so no one can dump the stock and trash the price today - very sneaky .

Mirabaud and co will have this sown up already- accelerated book build - also known as, ringing round the usual suspects whose job it is to take placing stock, for an upfront fee, then sell it all and receive a nice completion bonus.

at 10p it will be 120 million shares hitting the market like confetti.

a 10p placing will give you an opening price of 12p on the fully diluted basis. It will need to be discounted enough to ensure the right players soak up the stock and can flip it for a decent clip and it will be down at the placing price before you can even line up at trade.

The only siliver lining here, degsy, is that block actually has a story to tell, which will make it easier to find homes for all these shares they will be issuing.