JobPeterson
21.08.2024 kl 19:08
2127
Jeg har ingen personlige følelser involvert når jeg investerer. Hvis du mener at selskapet er på vei mot konkurs, er det din mening, og jeg respekterer den. Jeg er imidlertid interessert i å høre hvorfor du tror vi ikke vil vinne voldgiftssaken? Hva er grunnen til at du mener dette? Zenith har engasjert et av de sterkeste juridiske teamene, som har en meget høy suksessrate.
Jeg er enig med deg, hvis de ikke vinner voldgiftssaken, vil selskapet bevege seg mot konkurs. Men etter min mening har vi minst 90 % sjanse for suksess, ettersom det juridiske teamet ikke ville ha tatt saken hvis de ikke var overbevist om at de ville vinne.
Er du enig i at dersom vi vinner voldgiftssaken, vil prisen være minst ti ganger høyere enn aksjekursen er nå?
Jeg er enig med deg, hvis de ikke vinner voldgiftssaken, vil selskapet bevege seg mot konkurs. Men etter min mening har vi minst 90 % sjanse for suksess, ettersom det juridiske teamet ikke ville ha tatt saken hvis de ikke var overbevist om at de ville vinne.
Er du enig i at dersom vi vinner voldgiftssaken, vil prisen være minst ti ganger høyere enn aksjekursen er nå?
Allroad18
22.08.2024 kl 10:09
1925
Kurs den 31.12.2024? Det er ikke lett å se i glasskulen, men når alle vil realisere sine tap før nyttår, da kan nok kursen sige atter en gang under 10 øre, i skrivende stund er den på 0,1850 (det vil si noe av det laveste vi har sett i hele sirkusets historie, og tar man bort spleisen, så er vi på 0,01850). 1 mill aksjer er da verdt 185.000,- som trolig kostet lett mellom 800.000,- og 1 mill når kursen var "høy". Snittprisen for de fleste her inne er trolig mellom 0,70 og 1,1. Tar man dette tallet så er det mektige tapstall vi snakker om for svært mange, inkludert sirkusdirektøren selv AC.
olje
22.08.2024 kl 10:41
1884
La oss tenke att vi får inn 50% tot. av de to første, en før nyttår og den neste som er større i første kvartal neste år. hvilken aksjekurs burde vi da se? Mye som skal reprises da etter min mening. Da skal den prises på helt andre grunnlag enn i dag. Uavhengig av fortiden. De neste mnd blir spennende, jeg har posisjonert meg for dette og handlet mer. Her burde vi se 1 krone pr aksje eller mer om dette går inn. Da gjelder selvfølgelig ikke alt det andre som kommer, det er der den virkelig store potten ligger men det er litt lengre frem. Synspunkter?
JobPeterson
22.08.2024 kl 11:21
1841
Dessverre vil denne aksjen sannsynligvis bli påvirket av tradere, noe som vil føre til at den svinger mellom 0,18 og 0,3 frem til de første voldgiftsresultatene kommer. Jeg tror vi kan forvente en økning til 1 etter det.
Fra et handelsmessig perspektiv representerer dette en betydelig økning, så det vil være svært klokt å kjøpe på dagens nivåer. Jeg tviler sterkt på at aksjekursen noen gang vil falle under 0,16, så potensialet for oppgang fra dagens pris er betydelig.
Fra et handelsmessig perspektiv representerer dette en betydelig økning, så det vil være svært klokt å kjøpe på dagens nivåer. Jeg tviler sterkt på at aksjekursen noen gang vil falle under 0,16, så potensialet for oppgang fra dagens pris er betydelig.
Pensjon
22.08.2024 kl 11:27
1833
Hei jobP.
En voldgiftsprosess er ikke det samme som en domstolsprosess. I praksis er heller ikke en voldgiftsprosess gjenstand for anke.
Selv om Zena har engasjert gode juridiske tram, så møter de mektige motstandere. Mulighetene for å vinne en slik prosess er vanskelig å forutse, likeledes størrelsen på en ev. økonomisk kompensasjon. Historien til Zena beviser ingen vinnerkultur, så derfor konkludere jeg med fortsatt stor usikkerhet for selskapet. Ha en fin dag.
Mvh gammel pensjonist.
En voldgiftsprosess er ikke det samme som en domstolsprosess. I praksis er heller ikke en voldgiftsprosess gjenstand for anke.
Selv om Zena har engasjert gode juridiske tram, så møter de mektige motstandere. Mulighetene for å vinne en slik prosess er vanskelig å forutse, likeledes størrelsen på en ev. økonomisk kompensasjon. Historien til Zena beviser ingen vinnerkultur, så derfor konkludere jeg med fortsatt stor usikkerhet for selskapet. Ha en fin dag.
Mvh gammel pensjonist.
Sia
22.08.2024 kl 12:17
1771
Vet du hva som skjer med Kaz avtalen? Her skulle vi vel hørt noe snart.
Blientotre
22.08.2024 kl 13:30
1711
Det er dessverre mange som har tvilt på videre nedgang nå i mange år.
JobPeterson
22.08.2024 kl 17:30
1615
Pengene vil bli overført fra de svake til de sterke investorene. Ut fra et rent handelsperspektiv kan du kjøpe aksjer under 0,2 og selge på 0,35. Å selge under 0,2 er galskap. Selv om du misliker selskapet, kan du ved å kjøpe nå i påvente av voldgiftsnyheter doble pengene dine bare på en handel.
Allroad18
23.08.2024 kl 08:04
1440
Er ikke hverken enig eller uenig. De som har stått fast i denne aksjen må snitte ned enormt mye for å komme ned mot dagens kurs, og har du brent deg her noen ganger før så gjør du det ikke igjen- enten tar man tapet før nyttår, eller så sitter man i ro i håp om å kanskje komme i null, men å kjøpe på dette nivået for nye lykkejegere kan være grei business, fordi utgangspunktet er tusen ganger bedre enn for de som står fast her med en snitt kurs oppimot 1,- Man ønsker ikke å tape enda mer penger, så det er faktisk ikke fristende å snitte ned og kjøpe på under 0,2 (0,02), fordi risikoen er vanvittig stor og papirtapet synes uendelig..
TheLondonOiler
23.08.2024 kl 10:16
1350
I somewhat agree with you, unfortunately the share price has incrementally dropped over the past 2 years to the point investors are now wary of averaging down. However fortune favours the brave and I truly predict the price will bounce back up multiples of where it is now on the signing of a new asset or the win from the first arbitration. The first arbitration win is key as it paves way for a very high success rate for the other 2 arbitration results. Patience is the key here, and I do believe new investors are the lucky ones to be able to purchase shares under 0.2.
Gullit
26.08.2024 kl 19:43
711
Nå nærmer vi oss litt action igjen i denne aksjen. Høsten kan og bør bli gøy👍
Blientotre
26.08.2024 kl 23:10
596
Jeg personlig tror det kommer til å en rakett opp, men det kan fort være en måned eller to før det skjer.
Oppdatering på salg og sak mot Tunisia kommer til å være avgjørende - og det er fremdeles over en måned igjen til.
Oppdatering på salg og sak mot Tunisia kommer til å være avgjørende - og det er fremdeles over en måned igjen til.
JobPeterson
26.08.2024 kl 23:22
579
Jeg er enig, jeg tror vi vil se mange manipulative bevegelser i aksjekursen innen november. Men når voldgiftsavgjørelsen er avklart, forventer jeg en umiddelbar revaluering av aksjekursen til minst 150-200% høyere enn dagens nivå.
MarketGunsling
27.08.2024 kl 11:06
403
I just got back from vacation and finally had some time to look into the zenith energy accounts. I was particularly interested at looking why the administrative costs had raised from $8.6 million Canadian dollars in 2023 to $24.4 million Canadian dollars in 2024. Once I started putting the data into my own excel spreadsheet and being able to move it around, the answer was interesting and frankly unexpected.
All of the additional $16 million costs came from only two areas:
a) Foreign Exchange Gain/Loss – total difference $8,857,000
b) Impairment costs $6,927,000
You can see the details of this on my excel document here: https://ibb.co/4MDh78d
In total these amounted to $15,784,000 of additional costs in 2024 compared to 2023. The important thing to remember about these costs is that they're just accountancy terms and not cash losses. In 2023 when the company benefited from nearly $6 million of foreign exchange gains they did not end up with an extra $6 million in the bank. Similarly in 2024 when they lost $2.8 million on foreign exchange they did not actually have to pay out this money. As can be seen on page 54 of the annual accounts under note 5 this is explicitly described as being “due to the foreign exchange related to the retranslation of the assets, a non-cash expense.”
It's the same situation with the $6.9 million impairment in the non recurring expenses. The company no longer own any assets in Congo so these obviously have to be written off compared to the 2023 accounts and impairment of the Tunisian assets is also very logical. Although Zenith still own them, the fact that the company has been prevented by the Tunisian government from selling any oil makes a write-down on their value inevitable. This is also described on page 54 in note 5 as being “non-recurring expenses which relate to the impairment of the assets in Congo and Tunisia”.
If you remove these figures from the account then you end up with a very different perspective on the cost base between 2023 and 2024 and there is only an increase in costs of $21,000 between the two years
You can see the details of this on my excel document here: https://ibb.co/7nGgPvr
Note that this is including the $1.6 million spent on Arbitration costs, which are clearly necessary to the company’s claim against the Tunisian state. If we were to remove these too, then costs would have declined by $1.6 million on a year to year basis.
You can see the details of this on my excel document here: https://ibb.co/RBzchkT
On a line by line basis the company has pretty much reduced costs across the board. They have saved $1.7 million in consultancy costs $42,000 in legal costs $247,000 in office costs and almost $1,000,000 in salaries. Even travel has gone down by $11,000. The only place that general and administrative expenses have going up is in order to the remuneration and accountancy which is up by $224,000 and administrative expenses which is up by $2,006,000. In total the savings on general administrative expenses a $761,000.
You can see the details on this here: https://ibb.co/6Jh6bk6
In Terms of non recurring expenses, the bond issue costs are down by $24,000; the costs for acquisitions are down by $134,000 and share-based payments are down by $733,000. Listing costs are up by $15,000 and the arbitration expenses are $1,658,000. Therefore, costs here are up by only $21,000.
You can see the details on this here: https://ibb.co/bmt7Bs9
So overall despite what some have been saying in these forums when you look at the accounts properly sentence expenses have not increased significantly in 2024 compared to 2023. In fact if you remove the arbitration costs the expenses have decreased.
As always with looking at accounts you need to look beyond the headline figures and really study the detail in order to understand what was going on and things that definitely not as bad as they're being portrayed here.
All of the additional $16 million costs came from only two areas:
a) Foreign Exchange Gain/Loss – total difference $8,857,000
b) Impairment costs $6,927,000
You can see the details of this on my excel document here: https://ibb.co/4MDh78d
In total these amounted to $15,784,000 of additional costs in 2024 compared to 2023. The important thing to remember about these costs is that they're just accountancy terms and not cash losses. In 2023 when the company benefited from nearly $6 million of foreign exchange gains they did not end up with an extra $6 million in the bank. Similarly in 2024 when they lost $2.8 million on foreign exchange they did not actually have to pay out this money. As can be seen on page 54 of the annual accounts under note 5 this is explicitly described as being “due to the foreign exchange related to the retranslation of the assets, a non-cash expense.”
It's the same situation with the $6.9 million impairment in the non recurring expenses. The company no longer own any assets in Congo so these obviously have to be written off compared to the 2023 accounts and impairment of the Tunisian assets is also very logical. Although Zenith still own them, the fact that the company has been prevented by the Tunisian government from selling any oil makes a write-down on their value inevitable. This is also described on page 54 in note 5 as being “non-recurring expenses which relate to the impairment of the assets in Congo and Tunisia”.
If you remove these figures from the account then you end up with a very different perspective on the cost base between 2023 and 2024 and there is only an increase in costs of $21,000 between the two years
You can see the details of this on my excel document here: https://ibb.co/7nGgPvr
Note that this is including the $1.6 million spent on Arbitration costs, which are clearly necessary to the company’s claim against the Tunisian state. If we were to remove these too, then costs would have declined by $1.6 million on a year to year basis.
You can see the details of this on my excel document here: https://ibb.co/RBzchkT
On a line by line basis the company has pretty much reduced costs across the board. They have saved $1.7 million in consultancy costs $42,000 in legal costs $247,000 in office costs and almost $1,000,000 in salaries. Even travel has gone down by $11,000. The only place that general and administrative expenses have going up is in order to the remuneration and accountancy which is up by $224,000 and administrative expenses which is up by $2,006,000. In total the savings on general administrative expenses a $761,000.
You can see the details on this here: https://ibb.co/6Jh6bk6
In Terms of non recurring expenses, the bond issue costs are down by $24,000; the costs for acquisitions are down by $134,000 and share-based payments are down by $733,000. Listing costs are up by $15,000 and the arbitration expenses are $1,658,000. Therefore, costs here are up by only $21,000.
You can see the details on this here: https://ibb.co/bmt7Bs9
So overall despite what some have been saying in these forums when you look at the accounts properly sentence expenses have not increased significantly in 2024 compared to 2023. In fact if you remove the arbitration costs the expenses have decreased.
As always with looking at accounts you need to look beyond the headline figures and really study the detail in order to understand what was going on and things that definitely not as bad as they're being portrayed here.
BMU
27.08.2024 kl 12:40
325
Good and professional job done by you MG for those who would like to understand administrative expenses. But I think that frustration and discontent is more misdirected to administration and spending because of delays and a lack of faith that things will get better. Delays are tests of passions, carege, determinations, beliefs, etc. not many posese this virtue this days.