Surprised no MoneyAm BB yet ???

it is just there are massive pitfalls around and negotiating them can be a quagmire (sp?) for the most experienced investor. i may still have some of these but not many!

proptrade: Agree with comments and its interesting to note Morgan Stanley have a 6% holding in ZAR which is I believe a vote of confidence do'nt you think?

i do agree but like all these things Morgans may just have it as a small proprietary punt or be holding it for a client in a nominee account.

i would seriously look at this stock in a small way but just wouldn't get too involved. even a small position appreciates nicely if the stars align on the stock and if, as is more likely, we see this back at a penny, it was a good value punt odds wise.

i did notice that one of the Zari investors was struck off or had a bit of trouble with some bankrupt companies in the past. plse check the details for yourself, i am sure it was somewhere as a note on the prospectus.

Zari Resources PLC
17 December 2004



ZARI RESOURCES PLC

STATEMENT AT EGM


The following is the text of a statement being made by the Chairman at the EGM
being held at 3.00 pm today.


Zari Resources Plc ('Zari') has previously announced an agreement with Horizon
Oil Limited ('Horizon') under which Zari will initially loan up to 1.5 million
to Horizon and have an option to acquire Horizon for a consideration payable in
Zari shares and based on a discount from the appraised value of Horizon's oil
and gas assets. Horizon is an oil and gas exploration company operating in West
Africa.


Horizon has authorised Zari to announce that Horizon is advancing consideration
of a number of opportunities in West Africa. Applications have been lodged for
two exploration permits. In addition, Horizon is considering the purchase of an
interest in another exploration permit. Other opportunities have been identified
and are being considered for follow-up action.



17 December, 2004




This information is provided by RNS
The company news service from the London Stock Exchange

The unusual movement in Zar shares late today is likely due to the following press release, which should be read in conjunction with the EGM statement (above).



http://www.rigzone.com/news/article.asp?a_id=19089

- but are we talking about the same companies?

I don't think so, Horizon Offshore is listed on the NASDAQ (HOFF).

Cute of Zar to release the Morgan Stanley sale last night out of hours, when it has been sitting on the information for a week.. Trying to slip it by?

On 14 February 2005 Morgan Stanley Securities Limited informed the Company that
it had sold 14,500,000 Ordinary Shares in the Company, representing 4.9 per
cent. of the issued share capital of the Company.

well spotted..cheeers