Member Info for SEA7

lionsgold listed this new entity - perhaps they are moving everything into it.

https://trademarks.ipo.gov.uk/ipo-tmcase/page/Results/1/UK00003328956

XGB owned by lionsgold.

If we look at the minimum commitment in the first four years, they have to have carried out an upper section site survey and shoot some 2d seismic or a minimum of 60km 3d seismic and interpret. The recent geological announcement, appears to be covering this minimum requirement - at least that is how I read it.

Next..

They must drill a well from the surface 5000m down or 50 metres below the top of the upper cretaceous, which ever comes first and evaluate - in the rns today, Andrea specifically mentions drilling the upper cretaceous when the BD260 arrives.

They also need to be at 465 stb/d for 90 days by October 2019 - they are going after the lower hanging fruit in their opinion to get to this minimum production threshold, to avoid being in material breach of the redspa.

Nothing has happened whatsoever on the workover and drilling front since mike palmer left effective 1 july 2018, so we have had nearly four months of nothing much happening.

I cannot find any details on Mr Tica as yet, however, it is clear that Andrea decided to leave things alone and not have a go himself, like last time.

Seems like they are focusing on the minimum contractual requirements and that a lot has been completed.

Anyone think differently

no aj, it is not 50/50 - this has not become a coin toss. They are profitable and generating good cash. They do need to get some decent sucess though, as they have one year to be at 465 bopd for 90 days, with regards to the licence conditions, although as no one else has bothered with these fields for decades it is likely that socar will simply let zenith carry on if they are making decent progress, irrespective of that condition, as no one else will bother if zenith leave.

aj - how can you claim to have over 500k shares, which must have cost you around £40k upwards and state that your assessment is "they will get lucky or go bust" - what kind of crap diligence is that.

You should have gone to the casino and gone 60/40 split red and black - several goes, get lucky or bust.

As aforementioned, at the end of June 2018 net financial debt was only CAD 2.4 million, thus net gearing was
almost nil on that date.
In September 2018 Zenith has entered into a USD 1.5 million convertible loan facility (that replaces a previous
announced credit facility of USD 2 million contracted in May 2018 and used in USD 0.6 million), with 0% interest
rate and 18 months maturity.

Italian operations are small but reaching an equilibrium with positive EBITDA and net profit. Azerbaijani operations
are in a developing phase and the Group’s EBITDA and net profit are being affected by the fact that workover
expenses (representing almost all of investments) are recorded as operating expenses (in the first quarter of the
FYE Mar 2019, however, these operations recorded positive EBITDA and net profit)

I would do that russ. Get some stock at this level, get your overall exposure to 7p and then when we do see some positive movement on the ground and the stock appreciates, you could sell the stock you bought at this level, bank a bit of profit on it and then offset that against what you have left on the table, which would ultimately mean your current holding would have a lower overall exposure price.

I have used that strategy before to trade out of a losing positio, when I have been holding some stock that is about 70% down.

money am site is saying directors deals rns at 1025 today, however, when you click on the link it displays no information

without wishing to make excuses - the rig should have been delivered within the 90 days, however, that was the rental contract.

From the last rns ---

Robotics has advised the Company that it is in the process of sending the first shipment of material in relation to the BD-260 to Azerbaijan. The Company will provide an update once the BD-260 is fully assembled on location.

....

That says to me, that they carried on preparing the rig, whilst contracts changed to the purchase agreement, from the rental agreement. They aren't going to update us again until it is on site and assembled, as stated above.

gerard reckons - in line with expectations..

these are £37.1m revenue and £5.44m Gross profit.

One note from last year estimates £2.2m PBT - so we shall see if the market expectations are met, as gerard indicates.

(000’ Canadian Dollars)
Year End 31 March.............. FY2016A...... FY 2017A....... FY 2018A ..........FY 2019E
Revenue................................. 791................. 4,424............... 5,019............... 59,622

aligns july 2018 note is somewhat optimistic for next years revenue.

(000’ Canadian Dollars)
Year End 31 March FY2016A FY 2017A FY 2018A FY 2019E
Revenue 791 4,424 5,019 59,622

aligns july 2018 note is somewhat optimistic for next years revenue.

no TR1 or PDMR notification either.

Either not finished or not applicable -may never know.

yes, I had that top up today as well. Not one of those larger trades though - cannot claim them!

Low prices, sudden high volume can mean a change in direction in the sp is about to happen - seller accelerating and exhausting supply.

I wonder who has been feeding all the stock in - not miton giving up so early i hope.

Thanks Si,

I had a top up ready, however, as I saw the price weaken from 3.50 to 3.39 in the last fifteen minutes of trading, I suspected another after hours sell to show up, so I waited.

I may take the opportunity tomorrow.

yesterday someone sold 400k shares which showed just after the bell, today another 350k shares sold, showing just after the bell.

Looks like a larger seller, which at present is being mopped up.

2 x 300k share trades through today, both buys - hopefully someone other than Andrea.

back in 2008 they subdivided the shares into 1 share and 199 deferred shares. This was because nominal value applied to the stock was 20p and the stock price was 0.625p -meaning they could only raise capital at 20p or more. By subdividing they reduced the nominal figure to a level that they could raise equity at, that being 0.1p.

They then changed the name to energiser - any holding you had, should now be energiser shares. Whilst the number of shares you hold will be less, the overall exposure should be the same.

see last paragraps of rns -

https://www.investegate.co.uk/billam-plc--engi-/rns/issue-of-equity/200810171554481429G/

yes - it is a pity that we are assuming things and not being able to place some degree of confidence in timelines

I see that Andrea was elected as a non exec director of this society in march 2018..

http://www.anglo-azerbaijani-society.com/

Non-Executive Directors:

Andrea Cattaneo
Zaur Jabrail
Elizabeth Jones
Rauf Khalilov
Darryl Pawsey
Rodrigo Rendon
David Skeels
Reshad Vahabzada