Zenith Energy Share Discussion Threads

[ravin146] 08/9/2017 15:39

well well well...another surprise...[pardon the pun]...assume this is the beginning part of the road?! A little more info guys on twitter...btw z28 will be tough...more than 195 imo

Zenith Energy @zenithenergyltd
·
5h
#ZEN #ZEE confirms site preparations in progress at well Z-28 in the Zardab field

[ravin146] 08/9/2017 15:21

cash well the worrying thing is that, they are making it up as they go along...

unless I'm mistaken...

first RNS stated: "announced on September 6, 2017, to identify and perforate new productive zones in a number of underperforming wells with significant untapped production potentia"

...the following day, we get c-26 perforated...so they did that in a day really?! or have they been going against shareholder info out and doing that strategy before?

what happened to low cost, basic workovers, to boost wells...back in March none of this was included: CTU unit, new ESPs, ...adding to costs no?

the current strategy may be more effective, but it seems shareholders are being badly communicated to...

no one shareholder can tell you if 70bopd is sustainable or not...is it initial rates or average rate over x period?

[cashandcard] 08/9/2017 14:58

Its clear they've been experiencing declines at some wells, not just downtime. A lot rides on the Zardab wells. Even if they can sustainably produce them at 200-300bopd, that will catapult current production rates. Its crucial they figure out why they clogged up so quickly.


Cash

[ravin146] 08/9/2017 14:11

I'd like to see other directors buy shares in the company... it is quite a large bod for a min listed company so plenty of buyer imo...Why are other directors not buying shares? Are they all effectively non-exec directors?

[ravin146] 08/9/2017 13:26

Nametrade...listen to the Manchester presentation, there is a mention on decline rates.A long way to go still...

[thegreatgeraldo] 08/9/2017 12:44

Only had a quick look, but not seen any recent mention of C-26. As you suggest, it would be interesting to know when this well was perforated, IE is the 70bopd flush production or a stabilised rate?

Have to say, the accompanying comment,

"This operation is part of the Company's strategy, announced on September 6, 2017, to identify and perforate new productive zones in a number of underperforming wells with significant untapped production potential",

does make me wonder....

[nametrade] 08/9/2017 12:34

Good result re C26.. I think people are waiting to see if this rate is sustainable.

All going in the right direction and looking good for the patient.

[ravin146] 08/9/2017 10:22

muddy_40...I'm probably not adding until we see at least a 150bopd well...and if it is not well 195, as after all this additional work (sidetrack) and adding an ESP , you'd think it is 150bopd+,...also odd why they could not indicate a pre-ESP production number...would not have taken them long with the ESP delays!

...and if not well 195,I may consider selling the whole lot as their is plenty of money to be made elsewhere with reliable results

[thegreatgeraldo] 08/9/2017 09:29

muddy, just a modest holding. Now they seem to be finally getting their act together, very much on my watchlist to add a few....

[muddy_40] 08/9/2017 07:37

Tgg.
Do you hold here.? Good to see posters like yourself on board if you do

[thegreatgeraldo] 07/9/2017 23:13

dipla, the positive news has taken quite some time to come through, dontcha fink? One might think Cattaneo completely under-estimated the scale of the task at the start of the year...... & compounded that with his inept PR campaign. At least he seems to have learnt the lesson, happily at no great financial cost to th company & we now seem to have some competent folk on the ground with the requisite tools to tackle the job in hand.

[ravin146] 07/9/2017 21:31

Hahahaha, I'll leave it there, as I've agreed with Scotty to keep it clean on this bb.Cheers

[dipla] 07/9/2017 21:28

''thegreatgeraldo - 07 Sep 2017 - 19:06 - 437 of 437 - 0

Ravin146....Remind me why I'm on your filter list, muppet.''

------------------------------------------------------

I won't be surprised he/she filtered because you speak like a chav 8/


Btw great to see positive news here, put these in the drawer until March 2018!

Good luck all

[thegreatgeraldo] 07/9/2017 19:06

ravin146
15 Jun '17 - 16:37 - 1 of 436 2 2
Just a reminder for new investors to be aware of...


...small steps to a peace free bb, so you can ignore the bullshyt and save you time.

Just to help you out, I have...

FILTERED;

g/t rannyboy (aka Markyboy on twitter),
thegreatgeraldo,

....Remind me why I'm on your filter list, muppet.

[ravin146] 07/9/2017 18:01

also another C.500k buy...someone's confident!

[ravin146] 07/9/2017 17:55

Zenith Energy‏ @zenithenergyltd 3h3 hours ago
More
#ZEN #ZEE confirms successful perforation of well C-26 in the Jafarli Field, Azerbaijan

...................................................................................


tweets after RNS now seem the pattern...

[ravin146] 07/9/2017 11:35

sea7 they said they will tweek esp for well 45...did anything happen?

that is all shareholder should need to know...

poor communication...one line in the rns would have been ok!

[sea7] 07/9/2017 10:46

ravin,

They stated some time ago that interventions may not increase production rates at all, so there is the element of risk in this area attached to all work. I think it was in the listing doc, cannot remember.

well 195 has been dragging on for ages, getting the ESP in and some clarity over its status one way or another will put this matter to bed for good.

[ravin146] 07/9/2017 10:38

sea7 there is a lot more zenith need to do to replenish their credibility.

Two important tasks:

1) well 195 completed - would need to be min 150bopd+ for me to be satisfied

2) well 45 completed - has the ESP only added 3bopd, if so its bad news but overall it is a lesson learned

[sea7] 07/9/2017 10:23

I see that Julian Bosdet, the senior partner at Abchurch, who zenith show as financial PR/IR at the bottom of the rns today, has been to court for drink driving charges which he denies.





This information has also been commented on heavily on share prophets website, in the way you would expect!! by TW.

Whilst Zenith use Tim Thompson at abchurch as the point of contact, I wonder if it will affect zeniths continued use of the company.

[sea7] 07/9/2017 09:55

We should remember that M45 was at 1.5bpopd and is now at 49bopd, M66 and C26 were at zero and are pumping a combined 120bopd. The infrastructure is there already, so the costs for these wells has not changed, we are getting an additional 169bopd of revenue, for virtually no change in field operating costs. Once the initial capex to get these wells back on line is recovered, the profitability from these wells, will go towards future interventions and kit purchases, which reduces the likelihood of small equity raises.

[duxy786_2] 07/9/2017 09:45

Still feel money will need to be raised here, but thats just my opinion and not always a negative thing either. Companies have managed to raise cash at a premium to the SP, albeit, a rare action in the current economic climate.

I would hope to add here once a placing is out of the way, I may be waiting a while. but happy to added regardless at a slightly higher price if need be.

[cashandcard] 07/9/2017 09:33

A good result! and better coms.

When I heard Malcy would be meeting with AC/Zen, I sent a pithy email to him outlining the failures so far. Perhaps, something/someone is getting through to AC? Equally, it could just be - what it looks like - Mike Palmer is running a smooth operation, the results of which are manifesting themselves in a stream of good WO results. I say let MP report WO progress. Straight to the point man, no endless waffle and excuse making.


Cash

[ravin146] 07/9/2017 08:16

Wow that's a surprise, no other words. Fantastic result. Could be back on the upward trend soon!

[zengas] 07/9/2017 08:00

Just shows what a little patience can achieve.

350 bopd in previous update with 70 bopd now added from this well that previously was not producing. Plenty of well stock available to achieve similar results.

200 bopd expected from the 11 new pump installations.

1,000 bopd still very much on track.