Zenith Energy Share Discussion Threads

[sea7] 22/8/2017 08:25

yep ravin "should be able to" - they give theirselves a margin for error with that statement.

We will see, once optimisation of the well has been completed, whether or not they will be able to build on the success achieved to date of taking a well from 1.5bopd to the current 49bopd.

[ravin146] 22/8/2017 08:23

From 3rd July RNS:"The predicted production using an inflow production curve on this well shows that the Company should be able to produce 150 BOPD."

[ravin146] 22/8/2017 08:21

Sea7 I believe it will only be a success Once the production has been boosted.So far it's just been installed so let's see the yield pickup...

[sea7] 22/8/2017 08:07

They have managed to successfully put a pump in, set it up, get it running, not crashed the well and at the outset, getting 3 bopd extra. They state they will be optimising the pump settings, so we could see production increases
as time goes on. Having the pump in place, should assist with recovery rates going forward and allow for well decline to be put further into the future than would have been the case had it been solely under natural pressure.

The most this well had achieved, iirc was about 80bopd, when it was first drilled. It declined to 14bopd and then dropped to 1.5bopd earlier this year, due to a blockage. They have got it back up to just over 50% of its historical maximum, with possible further increases, once optimisation and post workover analysis has been conducted.

I see this as a success, albeit not the 150bopd straight away, however, gives us a good producer, which has now been put on production at 49bopd, from the previous 1.5bopd

[ravin146] 22/8/2017 07:42

Yep it looks like an error on the presentation.Glad to see the ESP installed and can't complain too much with that, though it would have nice and better impact on the share price if they had done the tweeks etc and then get the higher production numbers released.Anyways good news so far. I'd like to know the cost of ESPs though, as it seem we need 11 more now for 200 extra bopd.

[fission453] 22/8/2017 07:38

Only so that you can sell out mate!

ZEN much better!

[timw3] 22/8/2017 07:36

waste of time this company. Better off at MATD and AAOG

[fission453] 22/8/2017 07:35

I see 15p today!

[pondymark] 22/8/2017 07:33

I believe this well was not producing

[pondymark] 22/8/2017 07:28

Wow 50 BOPD from one well and if the Schlumberger team can tweak it up by another 10 to 20 BOPD and roll these out as quickly another X 11 we are off to the races

[albo] 22/8/2017 07:27

Anybody remember what the production from this well was pre pump?

[muddy_40] 22/8/2017 07:10

Ravin

You have your answer))

[aggieuk] 22/8/2017 07:08

Can't moan at that, slow and steady progress.

[fission453] 22/8/2017 07:06

Marvellous news!

[ravin146] 21/8/2017 23:07

Sea7,I'm referring to the actual "rig" and other workover related equipment, not the team.Today's news states the procurement of tubing for ESPs...does that imply that this is needed for current installation of ESPs?! I.e it's expected to be delivered within 90 days.Secondly, as I've highlight earlier from the presentation, it is either an ERROR or hopefully not another Delay. Slide 8 (produced 15th Aug) states ESP for Well 45 to be delivered in Sept 2017....The RNS on the 11th Aug stated the ESP for Well 45 is currently clearing customs before delivery to the well site.One is incorrect - assuming CEO is not bullshyting, so which one?!

[sea7] 21/8/2017 22:45

Deduction ravin.

As they stated that team A and Team C are headed off to the zardab fields, this left Team B to put the ESP in. Team B have a rig and they stated that a rig would be needed to put the ESP in, I drew the conclusion that it would be Team B and their rig that will be used to put the pumps in, seeing as Team A and C will be elsewhere.

[ravin146] 21/8/2017 14:06

Sea7 where have you found this information from out of interest?sea7 - 21 Aug 2017 - 10:42 - 309 of 311 - 0Team B's workover rig can put ESP's in

[ravin146] 21/8/2017 13:02

slide 8 states both esps to arrive in sept 2017... i thought well 45 pump was in customs?

[the foxthe fox] 21/8/2017 12:45

Cassiopeia Investor Symposium Manchester: CEO Andrea Cattaneo presents Zenith Energy, international Oil & Gas company operating the largest onshore oilfields in Azerbaijan. WATCH to find out more.

[sea7] 21/8/2017 10:42

Team B's workover rig can put ESP's in.

[ravin146] 21/8/2017 09:49

It's very simple, they need to complete a workover and quick!One thing I've picked up on...do they need this rig to put in the ESP or can current equipment do it?Still no update on well 45?

[cashandcard] 21/8/2017 09:45

muddy_40,


Thankyou for your write up, I appreciate the fact you took the time out to meet him and also get back to other investors. I think you hit the nail on the head with this these paragraphs;

"They have a new website coming and I said it would be a good idea to include production figures to the the website, lets people see where we are at. He thinking about a graph.

He spoke about the low production costs and how it was easy for them to transport the oil and receive the money"



You see no one actually knows how much we are producing now, given there are uncertain and perhaps differing decline profiles across the 'worked-over' wells, just adding previously announced well increases can be quite misleading.

Also a clear economic costing in the format of a barrel, broken down on the basis of;

- average realised price bbl
- cost&royalty bbl
- netback to ZEN bbl


The reason the asset-base has been ignored is because they have failed to deliver a single completed work over and also failed to communicate the well profiles & economics. To emphasize the point, there are hundreds of billions of barrels of tar sands in Venezuela, but they are near worthless as the economics have not been demonstrated.


Cash