Zenith Energy Share Discussion Threads

[andy] 15/8/2017 12:25

Could the camel outpace the donkey?

[ravin146] 15/8/2017 12:20

it is very simple here...yes cost have gone up to bring in experience and better equipment....medium term...it is still low budget work overs.

Could we get 150bopd from 45?

Could we get 200bopd from 195?

[sea7] 15/8/2017 12:03

Yep, how quickly is key here!!!

[andy] 15/8/2017 11:58

Cash,

LOL!

Don't they have camels there?

[sea7] 15/8/2017 10:32

1. they do not have to tweet anything, ever.

The pump has cleared customs and was being transported to the site on Friday. I would think that installation would be a few days at least, then testing, then leave running to assess flow rates.

If all goes smoothly, then I would expect to hear something, either this Friday or early next week. It depends on how quickly they install it, set it up and run it.

[cashandcard] 15/8/2017 10:29

In order to save money on costs, I hear they are renting out a local donkey to carry it from customs at the airport to the wellsite. It might take several weeks to get this done, depending on how slow/quick the donkey is and then how the 'on the job training' is going for the local gang who will install it ;)


Cash

[sea7] 15/8/2017 09:37

We should be hearing about m45 pump installation and flow rates soon. Team A and Team have been in zardab for a while now, so we should be getting some where there as well.

[cashandcard] 15/8/2017 09:27

Ultimately, its the bopd that will do the talking. I stated to AC the reason the market is ignoring 33mln 2P is because the company is yet to deliver a single completed workover. They need to get a move on!


Cash

[sea7] 15/8/2017 08:59

We can see a cash position of CAD$2,737,000 at the reporting date, with an additional CAD$848K raised post period. This gives a cash position of CAD$3,585,000.

This cash position is down from CAD$3,924,000 as at 31st March.

Current liabilities have increased from CAD$4,325,000 to CAD$6,485,000 - largely as a result of borrowings moving from non current to current liabilities. In other words, they are now due in under 12 months.

Borrowings due in under a year are CAD$3,091,000 up from CAD$973,000.
Borrowings due in over a year are CAD$2,973,000 down from CAD$4,912,000

Some of these borrowings are attributable to the acquisition of the swiss based company altasol on 30th March which has loans due to the former owner totalling CAD$2,392,000

On April 5th 2017 and April 12th 2017 They entered into new borrowings with rabitabank and CAD$676k is shown as a current liability.

This gives us a total borrowings figure of CAD$6,064,000 against CAD$5,885,000 from three months ago.
Total borrowings in GBP - £3,671,671, up from £3,563,266 an increase of £108,405 or £36k a month.

Trade payables/receivables and inventory are broadly the same in the two accounts.

The impact of all the delays and additional costs, such as team C are shown in these figures. The overall debt position is up by CAD$179K and the cash position, post raises is down by CAD$339K.

There was a loss of CAD$561k on foreign exchange and CAD$208K on repayment of loans. Expenses capitalised at CAD$1,781,000. Net cash used in the operating activities was CAD$1,132,000

We have the production increases that are not reflected here to be added to the next set of numbers, to end September and as long as all goes to plan, then each set of quarterlies will be better than the previous one.

These are much better than I expected, however, we can see that some more pressure regarding debt payments will be felt over the coming year, which should be easily managed by production increases.

[cashandcard] 15/8/2017 08:53

Not a great set of results, but not exactly bad either. So Azerbaijan oil production over the quarter averaged 257bopd if all produced barrels were sold and not in stock - netting an average of CAD$65/bbl (@1.30 usd) = $51/bbl - seems about right imo.

I would have thought daily production was higher, due to reported increases in some wells over the last few months. But clearly looks like well declines and/or downtime for interventions has knocked these figures.

It really emphasis the need to get a good set of well workover results.


Cash

[ravin146] 15/8/2017 08:31

Just topped up, gd lck all

[muddy_40] 15/8/2017 07:46

Seems like the bbls per day to June lower than we thought..257bbls per day, I was in the thinking we were in the 320bbls per day range, maybe now after Well 66

[bad gateway] 15/8/2017 07:23

Results on SEDAR

hxxp://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00026551

[timw3] 14/8/2017 22:30

Heads up Seller cleared at AAOG... $800m spud in 4 weeks!!

AAOG without doubt in play now seller out with that 1m sell printed after hours.

Fincapp valuations:

Mengo hit 750bopd - £70m MCAP - £1
Djeno hit 10k bopd - £750m MCAP - £10

So £11 potential vs 28p share price

Current market cap is only £10m once cash is stripped out.

£10m cap vs $1billion potential...

No brainer at these levels.

60p+ target at least prior to spud in 4 weeks

[aggieuk] 14/8/2017 17:39

Me thinks AC will get a good old reeming if there's no decent rns tomorrow morning! So much BS spouted by the BOD and nothing back for shareholders.... yet! I am still slightly optimistic for the future but I doubt it's going to be as good as they promised ie an extra 1000 BOPD without heavy dilution anyway.

[ravin146] 14/8/2017 09:46

Why would you go to that event, it should have been arranged after the 195/and 45 wells were on production.Still no indication that the ESP for 45 has arrived on site!

[the foxthe fox] 14/8/2017 08:28

You can still register for Zenith Special Investor presentation tomorrow!
More info & registration hxxp://cassiopeia-ltd.com/investor-symposia/

[sea7] 11/8/2017 16:26

tks muddy, read that!!

[muddy_40] 11/8/2017 16:24

sea,
Mr Cattaaneo on twitter also

Andrea Cattaneo‏ @CattaneoGenoa 7h7 hours ago
More
A very informative overview of ESPs
hxxp://www.slb.com/-/media/Files/resources/oilfield_review/defining_series/Defining-ESP.pdf?la=en&hash=CD7B3A0D52EE0AEC154FF643CD92A0B1F6834B39 …

[sea7] 11/8/2017 12:59

new tweet..

good day at m66

[cashandcard] 11/8/2017 10:00

No idea mate. Getting info from ZEN is like getting blood out of a stone.


Cash