Gunsynd Share Discussion Threads

[tomboyb] 07/2/2017 13:48

I think these are liquid investments that can be sold off quickly if desired -

I will however agree that buying 30% of a mine or licence will in a desireable field will probably be a better option -

that 25million at 0.038p was probably a bored seller noticing other resource stocks flying -

[barnetpeter] 07/2/2017 13:35

Shame they did not pile into oyster. Tiny stake will not achieve much. Should have put in 700k ...could have made a million clear.

[tyranosaurus] 07/2/2017 13:14

Until people stop dumping shares, like the 25m yesterday at 0.038p, this share is going nowhere, regardless of the positive newsflow.

[chadders] 07/2/2017 07:34

More good news, even though we only have a small stake.

[ap1982] 06/2/2017 14:40

The gun CEO sounded like a bumbling amateur on Vox markets rampcast recently.

[cpap man] 03/2/2017 12:50

Thanks very much for that scotty666 reference soon to be listed in London....OYSTER OIL & GAS

[knicol46] 03/2/2017 12:26

on the move last traded +10%

[scotty666] 03/2/2017 08:58

Update from Oyster last night;

VANCOUVER, BC / ACCESSWIRE / February 2, 2017 /Oyster Oil and Gas Ltd.("Oyster" or the "Company")is pleased to confirm that, following negotiations with the Office des Mines Nationales et des Industries Stratégiques ("OMNIS"), an agreement has been reached to provide a two-year extension to the current exploration phase of the Production Sharing Contract ("PSC") to July 2019. Furthermore, a refinement of the terms and work program has also been agreed so as to focus the program more tightly on achieving the drilling scheduled for late 2018/early 2019.

Oyster has opened an office in Antananarivo. The various financial guarantees have also been restructured to enable a greater focus to be on technical work and investment in Block 1101. The technical work program for 2017 has also been defined, which will include field work and detailed surveys to improve the structural definition and drilling locations on the prospects.

Michael Wood, President and Chief Executive, commented: "Oyster and OMNIS have worked closely together to ensure the continuing investment and future success in Block 1101 and I'd like to acknowledge the contribution and professionalism of the OMNIS team during this process. Oyster has mapped a number of multi-billion barrel structures in Block 1101; these are mapped as conventional, light oil plays based on the evidence from the 2014 drilling and coring program which confirmed a mature 'light oil source' being present in the basin. Oyster looks forward to engaging with the various agencies of the Government of Madagascar and the local communities as we work together to develop the potential in Block 1101."

Oyster Oil and Gas Ltd.

Oyster is an international oil and gas exploration company with a focus on Eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster holds 100% of four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; Oyster also holds a 100% working interest in Block 1101, onshore Madagascar which covers approximately 2.8 million acres.


Read more:

[cpap man] 02/2/2017 16:15

ZEN [+ GUN]



ZENGAS2 Feb '17 - 12:12 - 299 of 301 4 0 (premium)

At this £10m m/cap (10.125p) Zenith really has potential to surprise and it's already a producer which many at this m/cap can't lay claim to.

Some more from Beauforts note - read down to well 130 ie produced at 10,000 bopd and produced 650,000 bls in 1 year (before failing)so equivalent to almost 3600 bopd for 1 year or 1800 bopd average for 2 years.

"Azerbaijan production is currently circa 300 bopd and rising rather than declining due to simple maintenance and the high pressure, low decline, nature of the field (average decline rate is 4-5% per annum). The 300 bopd generates circa $150k of free cashflow to Zenith’s Azeri subsidiary.

Substantial 2P reserves and 145 drill locations
Zenith’s independent consultants calculate gross 2P reserves of 76 million barrels, of which 33 million are net to Zenith post the SOCAR profit share. 80% of these reserves are Probable Undeveloped from 145 drill locations.

1,000 bopd by early 2018
The investment case is based on multiple drilling and workover opportunities which should result in a much greater production uplift. Management is targeting 1,000 bopd before end 1Q18 from workovers, while we believe drilling has the potential to turn Zenith into a 3,000 bopd plus business within three years.

Exciting IP rates, slow decline
Well 211 drilled on the main Muradkhanli Field demonstrates the high initial production and low decline rates of the area. Drilled in 1981 it initially produced over 2,000 bopd and after 18 years in 1999 was producing over 1,400 bopd before production stopped quickly and dropped to sub 50 bopd, probably due to a well collapse. It still produces a few barrels today and is a potential recompletion or side-track opportunity.

1. Despite the main Muradkhanli field reservoir being fractured volcanic rocks, horizontal drilling has never been attempted

2. Having taken operation control in August last year, Zenith has succeeded in increasing production by 25bopd through simple maintenance

3. Three wells at Zardab produced over 500 bopd each but plugged with sand from the reservoir. This occurred in 1985 but no concerted effort has been made to recover these productive wells

4. No drilling has been undertaken for 15 years despite the substantial remaining reserves

2017 work programme – started this week
Zenith’s 2017 work programme is designed to improve current operations through simple workovers and to determine the best technology for cleaning out one or more of the Zardab wells.

Not including the Zardab workovers, the CPR identifies 44 workover opportunities across the licence area. Management plans to complete 20 workovers over the next 24 months.

Last week (24th January) Zenith announced it had signed a workover contract and the workover rig is expected to start operations this week. M-195 and M-45 are the first workover wells.

2017 programme:
Muradkhanli up to 7 workovers including M-195 and M-45
Jafarli up to 2 workovers
Zardab 1 workover - more complex well clean-out work

Workovers and drill locations
In addition to reserve calculations, the Competent Persons Report identifies 44 workover opportunities on non producing wells and 33 prime drill locations on proved undeveloped reserves. It describes a further 112 probable undeveloped well locations.

Well 130 – this is what could happen…

The CPR assumes average initial production of 120 barrels per day from vertical wells and 500 barrels from horizontals. This is reasonable given variability between wells, however we don’t feel it properly reflects the potential very high productivity of the Muradkhanli Contract Area reservoirs.

Well 130 drilled at Muradkhanli Field is a good example. Drilled in 1985 (15 years after first production), initial production was a modest c.100bopd, however within 24 hours production increased to 10,000 bopd as an uncontrollable gusher. Local farmers quickly built a sump and the well returned to normal production 25 days later. It then failed 1 year later having produced 650,000 barrels of oil.

The Zardab area – high production workover opportunity
In the 1990’s 18 wells were drilled in the Zardab area - five were successful, one produced (and still produces) and two produced but plugged-up with sand within a week. Significantly, the two plugged wells produced over 500 bopd during their short lives. Bearing in mind the slow decline rates and overall productivity of successful wells in the area, these wells have the potential to be very significant for Zenith.

Under the lake and horizontal wells
In addition to multiple infill opportunities which are currently envisaged as vertical well locations, the CPR has identified 58 horizontal well locations. Many of these sit under a shallow lake which SOCAR didn’t attempt to drain. Zenith will drain the lake and, if it sticks to the CPR work programme, will drill 10 horizontal wells."

[tyranosaurus] 02/2/2017 11:48

GUN back to where it started on the chart.
All smoke and no fire.

[cpap man] 02/2/2017 11:05

ZEN [+ GUN]



Zenith Energy (ZEN.L) - Speculative Buy at 10p (Target Price: 31p)



Zenith has an 80% interest in three oil fields onshore Azerbaijan, collectively called the Muradkhanli Contract Area. Current production is circa 300 barrels per day from 65 wells, 81% of which produce under natural pressure.

Through simple workovers, management is targeting up to 1,000 bopd by 1Q18, an ambitious but feasible target due to many years of suboptimal field management. The more exciting workover prize is from five wells in the Zardab Field. Two of these each produced >500 bopd before plugging with sand within 1 week. Zenith is targeting 200 bopd from the five Zardab wells which appears conservative.

New drill targets on the property are Zenith's most valuable asset, consultants estimate 76 million barrels of gross 2P reserves. Targets include under a lake where large areas were not drilled and multiple infill locations across the 642km2 licence. 2017 will be dominated by workovers and we expect the first new well in 2018.

The workover programme starts this week with M-195 and M-45. There is plenty of newsflow to look forward to and we initiate coverage with a 31p price target and SPECULATIVE BUY recommendation.

Read the full report....

[scotty666] 02/2/2017 09:35

Wonder who the existing holder who bought the 60k was - notifiable unless they flipped the stock I guess?

[cpap man] 30/1/2017 11:50

ZEN [+ GUN]



ZENGAS30 Jan '17 - 11:05 - 285 of 285 2 0 (premium)

The additional new money should lead to the production target being met earlier.
At the same time also increase the amount of production to the previous target and give stronger cash flow than originally envisaged.

Ultimately it could also bring the company closer to new well drilling and where they believe they could have 67 mmbls of reserves (1 field) compared to the current 36.5mmbo P2.

Well cashed up now and still only £10.9m m/cap (9.875p) with over 300 bopd.

[scotty666] 28/1/2017 14:29

Yes around 0.8 - 0.9 assuming unlisted investments at cost imho. Doesn't consider any upside in investments of course.

[theklf] 28/1/2017 13:26

Has anybody added up all the various investments to come up with a live Sum of the Parts valuation?

[scotty666] 28/1/2017 12:32

Investment overview:

[knicol46] 27/1/2017 13:24

full offer being paid, bid support gaining, tick up expected, only 4 mm's control this stock - one already sitting on 0.06p

[cpap man] 27/1/2017 10:20

Market is trying to find ZEN stock and in size for some very serious investors!

Watch this space....AIMHO / DYOR

[rwauu] 26/1/2017 16:20

New RNS- GUN is buying moronium mines. Moronium is a new advanced material. Can be shaped to pills and used on demand. 2 pills a day turns you to a moron, and you can change the dosage to achieve even bigger results.

I would say this rubbish is total buy. Very good stuff.

[scotty666] 26/1/2017 09:43

Good news from Brockham - wil benefit our stake in ALBA no end;

[cpap man] 26/1/2017 07:45

Some extremely interesting posts from the main ZEN thread including from the highly respected ZENGAS25



ZENGAS25 Jan '17 - 22:02 - 260 of 263 2 0 (premium)

I added a few more hundred thousand here today given the small market cap and the upside potential on just the w/overs alone. This could be a substantial opportunity 2nd time around given further improvements in drilling techniques (when we do start to drill new wells). Ramco/Socar were estimating between 3 and 5 billion bls oil in place on the Muradkhanli field. If we eventually tap some other part or sweeter area then who knows what the possibilities on just that one field could be taking into account ZENs low m/cap and building cash from increasing w/overs considering Ramco got flows of up to 5,000 bopd.

As for Ramco 17 years ago - They seemed to have had either well problems or legal disputes every where they went - from Poland, Georgia, USA, Azerbaijan, Czech Republic.

They did farm into the same 3 fields on a 50-50 basis in Azerbaijan in 1998. They drilled an exploration prospect and i don't think they have the terms Zenith have now. They only drilled one well and a sidetrack and both were problematic but they hit oil flow in both of 5,000 bopd and 1,000 bopd particularly in the eocene. Later the Seven Heads gas field offshore Ireland eventually practically destroyed them. I think they were in too many places at once which was eating up their cash resulting in significant losses and they decided to cut back without giving the Azerbaijan prospects more attention. From what i see, they were interested in unlocking the 3 billion barrel potential prize rather than workovers. The oil price when they drilled in 2000 was about $24/b average and that has to be taken into account on their rehabilation terms.

Ramco background on the 1 well and s/track -

29th March 2000
Ramco spudded the MOC-01 well, on the Muradkhanli field, on 11 January 2000; the first well to be drilled onshore Azerbaijan under a Production Sharing Agreement (PSA). Ramco signed its PSA for the field in July 1998; one of the first to be signed for an onshore field in Azerbaijan. Muradkhanli is believed to be one of Azerbaijan's largest onshore fields. Ramco's feasibility study, as agreed by the State Oil Company of the Azerbaijan Republic (SOCAR), concluded that there could be as much as 5 billion barrels of oil in place. The Contract Area for the PSA covers 565 square kilometres.

The PSA gives Ramco a 50% interest in Muradkhanli, Jafarli and Zardab fields in the contract area, with SOCAR retaining 50%.


Drilling Report
Ramco Energy PLC
18 October 2000
The first well, MOC-1, was drilled to its planned total depth in April but then the Company experienced a series of technical difficulties which necessitated the drilling of the side-track, MOC-1z. The side-track also experienced mechanical problems and, like MOC-1, oil inflows of up to 1000 bopd from the Upper Eocene and the top section of the I-Marl. To control these inflows heavy muds were required and these sections were cased off. The well was then drilled to TD, logged and a 4.5 inch liner run and cemented. Logging showed a thicker section of oil-bearing reservoir than the original hole. The lowermost section of the I-Marl, behind the 4.5 inch liner was perforated and flow tested. The results were disappointing and while methods to stimulate this zone, and to perforate and test the upper zones, are being examined, activities in the well have been suspended.


Ramco Energy PLC
Muradkhanli Field Update

19 December 2000

Ramco announced on 18 October 2000, that following perforation and testing of the main target reservoir in the Middle Eocene, it had decided to suspend temporarily the MOC-1z well. The Company demobilised the rig and other service companies in order to minimise costs whilst it evaluated all the options to work-over the well to improve the productivity of the perforated zone and to test the other prospective intervals in the well. Whilst drilling the MOC-01 sidetrack, Middle Eocene fractured reservoirs briefly flowed oil at rates equivalent to 5,000 bopd prior to being shut-in as a result of well control measures. Having studied all of the data from the well, the Company believes that these fractures were blocked by drilling mud, lost circulation material, and cement prior to perforating. Perforating guns used to access these fractures may therefore have been insufficient to penetrate beyond the damaged zone, resulting in inconclusive test rates.


Shareholders will be aware of the disappointing news regarding our Muradkhanli prospect, onshore Azerbaijan. Towards the end of last year we announced that initial test results had been disappointing. Since then, further tests have confirmed that the oil in place is unlikely to be commercially recoverable due to poor reservoir characteristics. The rehabilitation of the wells providing the existing limited oil production from the contract area is unlikely to be commercial without the added production that had been expected from the deeper reservoir. The potential prize, which had eluded the State Oil Company of Azerbaijan (SOCAR), was over 3 billion barrels in place. From the beginning we acknowledged the complicated geology, which we believed, with good oilfield practice and western technology, had the potential to deliver many millions of barrels. In the end it was the geology which won. The field will now be operated on a care and maintenance basis until we are contractually entitled to return it to SOCAR in November of this year.


cashandcard25 Jan '17 - 22:19 - 261 of 263 2 0

Zengas,


Thanks for that. Puts it into context, pre-2003 low oil prices, well control issues and the eventual fall of ramco.

Rates 'equivalent to 5000bopd' (few hundred?) is not bad if it can be sustained.


Cash

bad gateway25 Jan '17 - 22:25 - 262 of 263 2 0

They sound as if they were as useful with the drill bit as rxp.

"Whilst drilling the MOC-01 sidetrack, Middle Eocene fractured reservoirs
briefly flowed oil at rates equivalent to 5,000 bopd prior to being shut-in as
a result of well control measures. Having studied all of the data from the
well, the Company believes that these fractures were blocked by drilling mud,
lost circulation material, and cement prior to perforating. Perforating guns
used to access these fractures may therefore have been insufficient to
penetrate beyond the damaged zone, resulting in inconclusive test rates."


for research..


ZENGAS25 Jan '17 - 22:36 - 263 of 263 3 0 (premium)

The oil doesn't seem to be in doubt - more so the completion. If there's been progress in the last 18 years with the likes of Schlumberger and other major service companies in completion techniques it could be a game changer for a tiddler like ZEN at under £10m m/cap. A few hundred bls per well and additional reserves would be all it takes at this low start point in valuation.


This is only 1 field and there's potential up their sleeve in Argentina that could be worth 1-2 times current m/cap in due course if expanded/successful.

This gives a decent insight (and bear in mind oil at approx $24/b then as well as them having a raft of projects in 5-6 countries competing for their cash) -

" Muradkhanli is potentially the largest onshore field in Azerbaijan, with estimated oil in place of approximately 5 billion bbl. It lies about 70 miles west of Baku near the rail oil export line to Tblisi and Sepsa, Georgia and is strategically located near the planned Baku-Ceyhan main export pipeline route.

Under terms of the PSA signed in 1998, Ramco holds a 50% interest in the field with an affiliate of Socar holding the remaining 50%. The contract area covers three proven oil accumulations: Muradkhanli, Jafarly, and Zardab, where Socar originally found some 3-5 billion bbl of oil in the field, and has produced over 22 million bbl to date, mostly from the Upper Cretaceous reservoir horizons. But production has fallen to less than 10% of the original dayrate, despite the state oil company's efforts to keep the field in operation for so long with so little resources. (See "Ramco Discovers Oil at Muradkhanli, Onshore Azerbaijan".)

Ramco's Muradkhanli Operating Company (MOC) operates the project as a rehabilitation, exploration, development, and production sharing agreement. Phil E. Maxwell, MOC president, says that Socar was not able to exploit Muradkhanli's Middle Eocene reservoir because of completion problems—it is a reservoir prone to produce solids and is an high pressure play. Traditionally what happens is the chemical problems in the hole causes collapse.

"Our mandate is to drill the well quickly and complete it in such a way to prevent or inhibit the solids production and to sustain the production volume as well. Our strategy is to drill the well where previous Socar wells showed high productivity on test but difficulties in producing the well. So it's a risk project, but not in the sense that the oil or source rock or the trap needs to be proven. The risk here is the difficulty in completing the well to sustain the production—an engineering risk."

MOC's new well (MOC-01) is only 75 meters from the previous well (Muradkhanli-208), which was drilled in 1980 and produced on DST up to 2,100 b/d, but soon became clogged due to mechanical difficulties. MOC-01 was spudded in January, drilled down to 4,567 meters, and logged, whereupon a significant oil column was identified in the fractured Middle Eocene limestones, sandstones, and volcanics, as was expected, and an unexpected additional play in the Upper Eocene fractured clastics. A number of attractive fractures were also found in the rock, but when it came to running the seven-inch line to complete the well, problems thwarted further completion. There was an attempt to complete the well through the drillpipe, but a tool was dropped and it was abandoned. (See "Ramco Sets Casing on First Azeri Onshore Well".)

MOC then decided to sidetrack this well, which commenced in mid-June, with drilling through mid-July. Considerable flow is anticipated on tests, but sustained commercial levels of production have to be verified. Seismic is scheduled for the field, then a few appraisal wells so that, by the end of 2001, there should be a clear picture of the extent of recoverable reserves. Known already, however, is that it will require considerable fracturing throughout the field, and extensive horizontal drilling. By 2002, if appraisals are successful, a comprehensive field development program will be put in place covering both the Rehabilitation Area and the new Exploration Area, with potential oil production in excess of 100,000 b/d of oil. "

hxxp://www.oilandgasonline.com/doc/caspian-pioneer-focusing-on-muradkhanli-shall-0001

[scotty666] 25/1/2017 09:05

Momentous Events 09/03 is pleased to announce #GUN Gunsynd PLC attending the upcoming investor event. Tickets here ��7356;�

Hamish will be at momentus next investor event for anyone that is going and has questions or wants to pick his brain on some of the investments / exit strategy etc.

[cpap man] 25/1/2017 08:25

ZEN



Zenith CEO Foregoes Salary in Lieu of Equity at Premium





Calgary, Alberta, January 25, 2017, Zenith Energy Ltd. ("Zenith" or "the Company") (LON: ZEN; TSX-V:ZEE) the dual listed oil & gas producing company with assets in Azerbaijan, Italy and Argentina is pleased to announce a salary sacrifice proposal by Andrea Cattaneo, CEO of the Company.



Director Salary Sacrifice in Exchange for Company Shares



Andrea Cattaneo, CEO, has proposed (the "Salary Proposal") to the Board of Directors to swap his full salary for the next twelve months, effective on the 1 February 2017, in exchange for common shares of Zenith (the "Salary Sacrifice Shares"). The Company's Board of Directors has agreed to the Proposal subject to the filing of an application with the TSX Venture Exchange ("TSXV") and the receipt of approval of the Proposal, including how such Salary Sacrifice Shares will be priced, from the TSXV.



Andrea Cattaneo, Zenith Energy CEO, commented:



"In a clear indication of my strong belief in the potential of Zenith's future, I am pleased to announce my remuneration in equity. This proposal stems from my strong belief in the Company.

I trust shareholders of Zenith will view my commitment positively and recognise the real value of the Company.

I am determined to see the success of Zenith."