Zenith Energy Share Discussion Threads

[thegreatgeraldo] 12/4/2017 15:53

Aggie - it's not £250k, it's $250k (gross). That's around £200k gross, £150k net. Still better than the proverbial poke in the eye ;-#))

[cottoner] 12/4/2017 15:48

The total "increase" in production from these initial activities is 14bopd.

[11smith] 12/4/2017 15:45

Yes I understand that point. The points I was raising were that 14 bopd is not a good rate of production. Indeed it is not a good rate of production from one well, let alone 6. ... I thought the workover rig was being used on the workover? ... The M-195 workover? This 14 bopd has come from the 6 wells so far completed during the pump replacement training exercise.
But you overlook the other important point I have raised. Why are we waiting until tomorrow (if the update is given tomorrow) for news of well M-195? And perhaps more importantly, why the additional delay in letting us know?
I will be buying in again if it is good news, but, as I said previously I will be a lot more sceptical if there is no good reason for the delay in the announcement.

[cashandcard] 12/4/2017 15:33

11msith,


"It should be noted that a pump replacement should not be compared to a well workover with regards to its production upside potential. These pump replacements are not included in the workover programme and the main focus has been the trialing of Zenith's newly refurbished workover rig"



Cash

[11smith] 12/4/2017 15:31

aggieuk - To answer your question - How can an increase of 14 bopd be bad news? ...It certainly isn't good news as the RNS reporting the increase suggests the 14 bopd is the total from the first 6 wells worked on. That is much worse news than I was expecting. If that rate of recovery continues IMO the situation deteriorates. .... just to be certain we are discussing the same issues and to avoid any confusion I posted this on the 10th: What on earth went wrong? You miss the point. After all the hype and optimism from the CEO in interviews and tweets - Today's RNS re well pump replacement announces an increase in production of 14 (fourteen) BOPD from a total of 6 (or is it 5) wells which are finished with respect to that part of the work (pump replacement). So one question is - How many of the wells are producing? We know the total production increase - 14 BOPD. ...one consideration to consider at this point is if the rest of the wells are as unsuccessful now with new technology then it is no surprise the wells were left to run down with no maintenance and finally abandoned. If this is a production increase that is. Well, that is what the RNS says - an increase in production of 14 BOPD. From today's RNS - ' There will be an update this week about the workover of well M-195 '. That leaves tomorrow, Wednesday 12th, the day of the next presentation event or Thursday 13th because the markets are closed on Friday. Maybe that news is being held back until Wednesday? We will see. Of course all eyes will be upon the reason for the delay, both of the announcement and the progress of the workover. Thank you for taking the time to read my concerns and think carefully before shouting them down and dismissing them. ..... I assume you are replying to that post. ....Can you pick out the good news? ...
It will be interesting to hear the reason for the delay in announcing the update on well M-195 and I will be buying back in if it is good news, but, will remain sceptical if there doesn't seem to be any reason for the M-195 'update' not being released with the news of the 14 bopd production increase. I hope that clears up any confusion regarding my concerns.

[moormoney] 12/4/2017 14:52

If the CEO is confident enough to convert his salary into shares that is a massive vote of confidence plus his options. A good way of investing in his company while they are in a close period..

[ravin146] 12/4/2017 14:49

Yes, big volume today, large buy volume than yesterday.GUN not required, market can easily soak up if it is selling all.

[aggieuk] 12/4/2017 13:11

11smith how can an increase of 14 BOPD be bad news? That's approx £250k per year extra in the pot! Now the A team have done their practice jobs they can get on with the meaty workovers. What's not to like? I just hope the M-195 'update' as it was worded in the RNS, actually meant 'results'.

[ravin146] 12/4/2017 13:01

Zenith Energy Retweeted7hBloomberg? @businessOil records the biggest rally since December on optimism that Saudis will support output cuts (link: https://bloom.bg/2p63oLs) bloom.bg/2p63oLs

[muddy_40] 12/4/2017 12:48

Cant get the full story as it is subscription




CEO: Canada's Zenith to start drilling operation in Azerbaijan in 2018 ...
en.trend.az › Azerbaijan › Business
5 hours ago - The drilling operation of Canada's Zenith Energy Ltd at Azerbaijani oil fields will start in 2018, the company's CEO Andrea Cattaneo told Trend.

[thegreatgeraldo] 12/4/2017 12:47

Simple.....it's a compelling story. What we don't know is what state the wellstock is in & how easy or otherwise the planned workovers will prove to be. M-195 on its own won't be decisive, but will give us a clue.

[dipla] 12/4/2017 12:32

Geraldo, what is your actual view...you seems to be posting contradictory views...either we are all deluded for being long, or it's a compelling story?!Make your mind up, though saying that if it shoots up tomorrow you will be long and if it drops you will be short...Funny ey...def filtered now

[thegreatgeraldo] 12/4/2017 12:29

At the risk of being accused of ramping the stock, maybe they're waiting for flush production to settle down before announcing production from M-195. Or it's simply a case of the workover being far less straightforward than thought just a few weeks back, when the special bit of kit was ordered

[11smith] 12/4/2017 12:20

If there is no good reason for the M-195 RNS update on progress being delayed while all the other information is being reported methinks this will crash back towards the issue price. Then we will have a 4 day break to let the dust settle and pray for mercy from the markets next week. I am pleased to be out of this until there is some genuine good news !!!!!

[thegreatgeraldo] 12/4/2017 12:14

No point replying as I'm filtered! ;-#))))

[ravin146] 12/4/2017 12:10

Now it's a ...thegreatgeraldo - 12 Apr 2017 - 11:55 - 1161 of 1162 - 0It's a compelling story, let's see how the workovers go.What a fool, filtered

[aggieuk] 12/4/2017 12:05

Definitely an ocean of blue today, no sign of the large sells from GUN. So I wonder if that's them done now?

[thegreatgeraldo] 12/4/2017 11:55

It's a compelling story, let's see how the workovers go.

[ravin146] 12/4/2017 11:47

Yet you are saying deluded...strong words, clearly not from a long nor a long with no rose tinted glasses.Quite sad really, if this is your day job

[thegreatgeraldo] 12/4/2017 11:13

ravin - haha, not short; there again, don't have rose tinted glasses.

[rameshh] 12/4/2017 11:02

Plenty of buying here, hopefully 195 update tomorrow.13.5p + def on the cards.

[ravin146] 12/4/2017 09:47

This applies to you too thegreatgeraldo....thegreatgeraldo - 11 Apr 2017 - 21:23 - 1144 of 1155 - 1honest, humble, yet ambitious and confident...easy to be all of the above, yet deluded!-------Good luck with your short, what price did you short from...wait let me guess right at the top of 13p...another fool in the house

[cpap man] 12/4/2017 09:45

LOL CURRYPASTY - stop de-ramping!

[currypasty] 12/4/2017 09:26

I guess after a bit of flack, the next (tomorrow?) rns will be well written, proof read, and vetted by nomad... 15p by Thursday...lol