Zenith Energy Share Discussion Threads

[ravin146] 28/4/2017 16:55

ravin146 - 27 Apr 2017 - 08:44 - 1578 of 1605 - 1Oakville...6.3million shares...where is the holdings update?!Really?

[ravin146] 28/4/2017 15:18

Well update next week?!

[ravin146] 28/4/2017 11:39

Very surprised no holding update yesterday, if not one tonne released this eve after yesterday's volume.

[sea7] 28/4/2017 10:08

Only two sell trades this morning, one at the open for 9.55p and the other twenty minutes ago at 9.60p.

All other trades are buys, starting at 9.685p, with the most recent, a few minutes ago at 9.75p.

We can see that the actual trade prices for the buy side have increased by 0.75% since the open this morning.

We should see a tick up on the offer, if this trend continues today.

[sea7] 28/4/2017 08:30

not placing too much faith in it, however, brokermandan is claiming that zenith are in talks re producing assets...

[sea7] 28/4/2017 08:11

11smith.

The latest tweets stated the plug has been put in.

Now we do not know exactly how old the pictures are, however, my understanding, is that they cut the window in the casing at 2960 level, then insert the plug in the old wellbore and cement at a level above it. Then they prepare for the actual sidetrack, which entails using a 139.7mm bit, to drill to a level of 3020 meters, taking gyro directional and inclination survey to monitor the direction of the sidetrack hole.
Once this has been completed, which is about 60m of drilling, they then cement a 114.3mm casing into this hole, which must take a few days to cure once in, then they re-enter and drill a slimmer hole to the 3065m level. The section drilled between 3020 and 3065 will be left as open hole.

We do not know precisely where they are in the process, however, as these tweets were only two days ago and there is still several days of work to be done, before they can start to gauge flow rates, then jumping to conclusions over the well success or lack of it, is a bit premature.

They will update us at the appropriate time. AC did say that as this was the first well on the project, they are taking things slower than normal, to ensure that everything goes according to plan.

[sea7] 28/4/2017 08:01

No problem andy.

[andy] 27/4/2017 21:36

Sea7,

Many thanks for your reply and link.

[11smith] 27/4/2017 21:30

If no news tomorrow it is starting to look like the sidetrack is proving to be fruitless. Could be more heavy selling tomorrow as hope dwindles. // an unexplained share price rise on TSX.V, up .01 CAD or 6%, looks good but may encourage selling on the lack of news.

[ravin146] 27/4/2017 16:38

ravin146 - 27 Apr 2017 - 12:13 - 1588 of 1596 - 1Near 5m buys and the rise is 0.25p really?!Must have a lot of stock to buy up!The last two trades that why!Praying it's GUN releasing shares which is great news.It could be the old CFO if he had any shares?

[pugugly] 27/4/2017 16:32

?? GUN clearing at 9.4p 1.8 million = So who apparently picked up a million at 9.5p Large PI or small II. ?

[muddy_40] 27/4/2017 16:32

Ravin

Looking at both sets of pics from the yesterday, M195 pics have a pretty bright day, M 45 pics is more overcast and dull, so these pics could be from different days?

[ravin146] 27/4/2017 16:19

Interesting, I still believe the pictures posted yesterday were as at yesterday. Interesting point is that they obviously have a mole here reading our posts!

[muddy_40] 27/4/2017 16:12

Ravin

New tweet about Italy ops and states the pics were taken today..so maybe that pics from M195 were not from yesterday??

[sea7] 27/4/2017 13:28

Andy,

The comments in my post 1559 came from an Rns not a research note.

[grannyboy] 27/4/2017 13:13

The cement plug would have been used to close off the open hole section of the previous original target at 3026m, they were then going to cut a window at 2955m approx, and then start the sidetrack to a depth of 3020m then drill to a total depth of 3065m which included an open hole section.

As i've already stated this morning, oil should be flowing, and maybe they're just flow testing.

[ravin146] 27/4/2017 12:49

Muddy note, the pics are not dated, though one has to assume they are on the same day.

[muddy_40] 27/4/2017 12:28

Asked below question to driller guy on another board

Planned Ops-Company has to do a sidetrack, the plan is as follows.... "A window will be cut in the 168 mm casing at approximately 2955-2960m depth and a 139.7mm bit will be used to drill a sidetrack hole to a depth of approximately 3020 meters while taking gyro-directional surveys to monitor the direction and inclination of the sidetrack hole. A 114.3mm casing will then be cemented in the new hole and a slimmer hole will be subsequently drilled to a total depth of approximately 3065 meters. This section of wellbore, from 3020 meters to total depth, will be left as open-hole".

They reported yesterday that they have just set a bridge plug where in the above ops do you think the bridge plug would have been set? just trying to figure how far on they are with the ops!

=================================================================================

His answer.

the BP will have been set at around 2980m to complete isolation of the old hole, prior to cutting the 'window' in the casing. In other words, step 1 (abandonment of the 'old' section of the well, preceding the bit you quoted) has been done, so ready for step 2 (where your quote begins).

================================================================================

So it looks like they are just set to cut the hole in casing to start the sidetrack

[ravin146] 27/4/2017 12:13

Near 5m buys and the rise is 0.25p really?!Must have a lot of stock to buy up!

[thegreatgeraldo] 27/4/2017 10:45

Yup & we recently got some detail on the work needing to be done on a few wells... workovers can be a simple solvent/acid treatment for wax/scale with maybe a reperf, to a complete refurb with new casing. Point is, until you look under the bonnet, you don't know what state the engine's in

[zengas] 27/4/2017 10:23

Plenty of well stock and as AC said from the start some will be good others not so good. Got to allow for not a 100% success rate on every well. There will be challenges as we seen already but I expect them to do ok over the 12 month time frame to increase to the 1,000 target. Being within 10% +/- of that i'd be more than happy and then look forward to new drilling. Cheap at £11m even to be producing 300 bopd on 33 mmbo P2 and a bit of action hopefully to come from Italian ops.

[thegreatgeraldo] 27/4/2017 10:12

I remember a Canadian co who were simply going to revisit an old explo well in France, confirm some overlooked pay & make a fortune. It didn't end well, as the well wasn't in very good nick & they had no end of problems.....

[zengas] 27/4/2017 09:59

Don't ever kid yourself granny that any workover or sidetrack is simple no matter how experienced a team is, whether in house or an outside contractor. Even though they are only drilling a final 100m never underestimate that a problem can occur when they are in the well. PPC is doing a about a dozen of late and the 2nd well shown here was sidetrack of an older well to an existing discovery away from the OWC.

Here's a failed one and a short sidetrack in another for PPC in Argentina in the last year (The owner and CEO P Levine is as experienced as any CEO and has had his share of dissapointments on a number of fields despite growing his previous company from a few million to £1.4b).

1) The intervention on the first well, Poso Escondido 3, a previously producing well shut-in since 1993, has provided valuable information on the Yacoraite reservoir at this location and has flowed a limited amount of oil to surface. Although the stimulation and extended testing could not be carried out due to a tubing leak, the operation demonstrated that the Yacoraite remains without significant depletion and is capable of flowing oil without artificial lift. The well will now be a candidate for a follow-up workover campaign that is being planned.

2) WELL DP1002 S/T President regrets to announce that it has been forced to temporarily suspend well DP1002 S/T so that the Drilling Rig can be mobilised to the Company's neighbour for drilling their well. This was due to the significant difficulties encountered in running casing in the drilled well, due to a twist-off of a 1000m section which was lost downhole and not practical to recover within the timeframe. As previously reported, there have been significant service quality issues encountered in this well and the challenges presented have been enormous. Issues with the Rig were followed by a fractured drill pipe and then two failed cement plugs through compressive strength issues.

[grannyboy] 27/4/2017 09:48

If there's no news by next week at the latest then i'd be concerned..

But looking at the share trades, someones confident news is coming..

[grannyboy] 27/4/2017 09:31

cottoner you are right to correct my muddling of team B with A, which i have edited.

But the claim that i make it all sound as simple as ABC..Well it should be, after all the 'experienced' drilling team were only drilling 100m.