RARE ALERT: Zenith Energy said to see equity placing
Zenith Energy, the Canadian oil and gas consolidation vehicle, may soon see a placing.
According to sources claiming to be familiar with the matter, brokers are attempting to place between £500,000 and £1 million at around a 15pc discount to the company's current share price.
However, it's not clear what the cash from the placing will be used for.
Zenith Energy is listed in London and also on the TSX Venture Exchange. It's main asset is the largest onshore oilfield in Azerbaijan.
To be clear, this story is RARE! For readers unfamiliar with the RARE concept I will define it below.
Market gossip that hasn't been tested through formal journalistic channels (public relations executives, bankers etc). The rumour might be total codswallop but then again there may be something in it, so it's worth airing on Betaville...