Zenith Energy Share Discussion Threads

[nametrade] 14/2/2018 09:23

From my reading of the last operational update the company would update separately well z21 and z28....Therefore at the moment they haven't completed either.
News must be very close..

[ravin146] 07/2/2018 18:40

Well few days it will be mid Feb...so not long!

If no news next week, it will be DELAY after DELAY as they've had two weeks since z-28 was successfully sealed.

What are they still doing for two week?!

[muddy_40] 07/2/2018 14:43

Buffy,

Thanks, shouldn't be long now.

[buffythebuffoon] 07/2/2018 14:26

He said that at the Ritz Presentation, shortly before correcting Brokerman Dan about which continent a country close to Azerbaijan was in.

Buffy

[muddy_40] 07/2/2018 14:24

Buffy,

Is that as from the last presentation, or other correspondence?

[buffythebuffoon] 07/2/2018 13:58

We’ll hear mid Feb according to AC.

Buffy

[ravin146] 06/2/2018 21:12

Really hope so...well 28 has been delayed from original end of January including a delaySo this is a delay on top of a delay...the seal is confirmed so well 28 should be flowing now unless another delay.I expect news in the coming days

[dipla] 06/2/2018 19:03

I believe we will have news on the wells within days.Gla, place your final bets please...

[dipla] 02/2/2018 21:37

So the company has ordered 12 ESPs and you think it is a minor part...

What a moron...do you throw money at anything?!

Do some research and don't lose your pensions!

[ravin146] 01/2/2018 20:00

Erhhh no, long term it is key and and manipulate pressure etc.Clearly you ain't got a clue about oil firm!

[ravin146] 01/2/2018 18:49

Doubt it...why would anyone buy until placing shares are admitted.

[nametrade] 01/2/2018 15:20

Bigger buys going through now,traders getting ready for the news either way...

[sleveen] 01/2/2018 13:47

Agreed. I was also offered 8.1p on a dummy buy.

[nametrade] 01/2/2018 13:42

Buys and sells not correct here.
You could buy below mid most of the morning at 8.10

[sleveen] 01/2/2018 09:40

ESPs are a minor issue.

Probably they improve production 3-5 bopd/well.

[ravin146] 31/1/2018 22:15

I'm not questioning it...I believe they still think it is achievable as they would be stupid to keep it knowing on the ground it's unlikely due to delays etc...It must be on target.It is a sad that AC is happy to email that...but not the decency to update investors on the ESP programme. News was leaked why has it not been RNSd yet?!Or were we over promised and under delivered (play on words of his famous saying)....typical fraud car salesman

[sea7] 31/1/2018 19:35

Andrea said in an email to me ages ago, that if the 1000bopd target changes, it will be rns'd.

[ravin146] 31/1/2018 19:34

Muddy short term, AC needs to prove he can be successful in the future.By proving workover, faith will be returned by shareholders or failure to do so this should be a penny stock on AIM continually diluting to fund drilling programs.I am surprised this 1000bopd is still being branded about...why not accept defeat? Maybe it's still in the bag!

[ravin146] 31/1/2018 18:51

Yes it's 20%, I was referring to the fact they've done near 10% (8% really)...so 12% left

[ravin146] 31/1/2018 18:49

Don't think so...this is a new year...so 8% already done.Last year there were a lot of warrants which are not part of this threshold.

[muddy_40] 31/1/2018 16:45

Interesting post from intheno on LSE, discussing the slides on latest presentation

ACs presentation on 25.01.2018 was especially informative largely due to the Field data inherent in some of the slides. As this will have escaped the attention of most observers and requires some interpretation I hope the following will be of assistance. The verbal content of the presentation, aimed no doubt at an audience of prospective investors, contained little that was new but nevertheless included some comments of note, which I will also add in conclusion. Reference to the 2013 Salmanov map will assist in understanding the following.

Slide 12 includes three images which I will refer to, from left to right, as 12/1, 12/2 and 12/3, all relating to the Zardab Field and incorporating a revised interpretation of the 2015 seismic survey initiated and processed by SOCAR (see post of 30.11.2017). The images are in high resolution so can be downloaded and interrogated in considerable detail. 12/3 is a plan view of the 178.5sq km survey area including the Zardab, Shikhbagy and Gishlag subsurface highs.
Image 12/1 is a vertical cross-section down to 3400m along the black line on 12/3 passing through Z-1 and Z-25 on the Shakhbagi High. The position of Z-27 and Z-28 is close to the section line and shown superimposed at the top of 12/1.
Image 12/2 is a vertical cross-section along the yellow line on 12/3, from Z-5 (near Z-4 on the 2013 Salmanov map) through Z-25 and Z-29 down to M-202 just south of the Shakhbagi High. Towards the base of this cross-section a bright-green line marks the top of the Upper Cretaceous (Upper K in the right-hand margin) with the two Highs, of Shakhbagi (drilled by Z-29) and of Zardab (drilled by Z-21, Z-12 and Z-13? superimposed) clearly evident.

Assuming 12/1 and 12/2 are derived from a compilation of seismic inversion data calibrated with well data, the red and dark purple-black bands probably represent the high-porosity strata and therefore those most likely to be fluid-bearing. The two cross-sections are in effect samples of a 3D structural model of the region which reveals considerable production potential, three aspects of which are summarised on slide 12 ie
Stacked plays of multiple reservoirs by-passed by previous drilling.
Zones for long-lateral and short multi-lateral wells.
Shallow drill targets in the Pliocene (Productive Series) mainly between 1600 and 1800m depth and in the Miocene at 2000 to 2200m depth, in stratigraphic traps apparently in an area not previously drilled, east of the subsurface highs.
These plus the previously drilled but yet to be produced reservoirs in the Maykop, Eocene and Cretaceous collectively support my previously posted contention (23.01.18) that reserves in the Zardab-Shakhbagi Field could match the 2P total of 32.1Mbbl already assessed and largely attributable to Muradkhanli.

Slide 11, a schematic section SW-NE through the Muradkhanli Field is important in providing the first disclosure of large untapped potential reservoirs in the Upper Cretaceous carbonates on the western flanks of the High. These.are shown faulted against the already exploited Upper Cretaceous volcanics and underlying the as yet largely untapped Eocene clastics, targeted by MOC-01 and due for workover. The production potential from carbonates which often have high secondary porosity, can be very considerable and these are shown as being volumetrically significant, so there is a very considerable potential resource indicated here. The extent of this is emphasised in slide 8 which includes the boundary of a resource area around M-40 and M-205. In addition Muradkhanli may still have substantial untapped oil within the Upper Cretaceous volcanics described on slide 10 as having a reservoir thickness of up to 500m with very high secondary porosity.

Before new drilling of Muradkhanli can commence a series of seismic interventions will be necessary both at local and regional scale, as is itemised on slide 14 and scheduled by 2020. In that respect it was reassuring to hear AC confirm that this will be done in house, using yet to be acquired technology. That negates the occasionally quoted, future funding commitment of $20m for seismic, which can now be dismissed along with the equally invalid claim that new drills will require funding at several million $ per well. As AC consistently emphasises, invest in your own equipment and skills base and thereby keep operational costs consistent with your revenue stream.

Slide 14 also refers to the ESP upgrade programme as an ongoing part of Field Rehabilitation activities and again AC, in reply to an inaudible question, reiterated the company line that the pumps will be installed throughout, albeit much delayed due to protracted delivery by the suppliers. It is my understanding, that producing wells requiring an ESP configured to meet the specific technical requirements of that well, must be shut down until the ESP is delivered and installed. After installation an unspecified period of calibration is required to achieve optimisation of parameters and before the well can be placed in production. Flowing the well whilst waiting for delivery of the ESP is simply not an option as there is high risk of damaging or even losing the well.

Whilst accepting that the primary risk factor facing ZEN is that of project execution across the whole programme of rehabilitation and new drilling, I am satisfied with progress to date as I£m confident that the managerial acumen and technical skill-base necessary for success is in place or will be in place as required. The oil is there and 2018 will begin the process of recovering it at an accelerating rate.

[grannyboy] 31/1/2018 10:06

As far as i'm aware they have raised the fundraising limit to 20% in a year..

[kenco7] 30/1/2018 22:13

All good here very confident he will deliver the goods delays yes frustrating I know but happy to hold

[ravin146] 30/1/2018 20:37

So, only 10% dilution allowed this year, according to main listing rules.So I take it back, dilution make not cause major falls.Press release on ESP to be released shortly.This could explode to 12p plus if next news good.15% institutional...bigger than I'd thought!

[ravin146] 30/1/2018 20:34

This is not AIM you moron...how many time do we need to repeat this?