Zenith Energy Share Discussion Threads

[sea7] 11/9/2017 10:02

each to their own, cash.

I prefer small, targeted and specific placings, that have a defined and disclosed reason for issuing equity. I do not like large, dilutive placings, which give the BOD, the temptation to wade through the cash, like a hot knife through butter.

[sea7] 11/9/2017 09:59

With regards to m45, they said they are confident that production can be increased, however, I see no reference to them committing to informing the market If they do manage to get more barrels a day out of this well.

They only commit to a final update once all 13 Esp's are in, which includes m195 and m45. So we may get some interim updates on the programme, however, we may not hear anything until the end of november, when they should have them all in by then.

I would work on the principle that we will not hear anything else on this ESP installation programme until It has been completed in two and a half months time.

Also, we might get an rns stating that z28 has begun at the end of September, or we may hear nothing until the end October, when it is expected to be complete.

No point demanding tweets or micro updates, as it looks like there won't be any.

They are giving a lot more info than some companies do and are not issuing rns's like confetti either.

[cashandcard] 11/9/2017 09:55

Again, smalltime placings. Why not go out and raise enough with a contingency so atleast 6-12months is covered? They didn't know? Of course they knew! the original plan went out the window long ago and they knew fresh capital would be required.


Cash

[ravin146] 11/9/2017 09:32

Yh exactly my point...post July i.e they knew at the Manchester seminar.

It is just poor investor relations,will they need to fund for a fishing rod to unblock well 195 and AAA batteries for well45 ESP?

Does it take 3-4 weeks to tweek well 45 ESP parameters? Why not put this to bed, the ESP failed to boost production, or we are still tweeking it?

[sea7] 11/9/2017 09:01

They stated that they had changed plans after the july announcement, so it would seem that some of the data they have looked at, gave an indication that the smaller rig wouldn't cut it.

[ravin146] 11/9/2017 08:46

This is what I have been saying for a while...ok get to 1000bopd, but at what cost?!Once again, no idea from Manchester seminar that they had upgraded the purchase of a bigger rig...making it up as they go along.

[grannyboy] 11/9/2017 08:20

Yes they'll be raising funds to purchase a top of the range grass mower the next time team A has some downtime..which should mean the mower getting plenty of use..Then it'll be a fund raise to take the 'boys' on a seaside jaunt...

The fun never ends....

[sea7] 11/9/2017 08:15

I would say that the private placement, is most likely with the same outfit as before. They will have accepted a fee for this service around the £20k level. They will then slowly feed the stock back into the market, at or slightly above 7p or much quicker if the share price rises.

Rinse and repeat.

The company is delivering on its stated objective of purchasing a modern workover rig within four years. This would be that rig.

They have also paid the deposit on the larger drilling rig. According to the listing document, the balance is to be vendor financed, so on credit.

Whilst I do not like dilution, like anyone else, it is for kit, so it is a decent enough reason.

[pugugly] 11/9/2017 08:00

To repeat in part 457 above-
"sanding - suggest anyone who thinks easy to overcome have a look at the problems that the serial failure FRR has had in this area - Also how much invested in FRR has gone to money heaven -- At least here the current drip of new funding is in low figures but unless real break through possibly one of the limping half dead."

Now yet more drip funding at 7p equivalent - Which will (imo) be drip fed into the UK market.

Align research - !!! Does anything extra need to be said !!

[ravin146] 10/9/2017 20:41

From align not surprised!The third major hurdle, well z28, yet to jump the first imo, and that's well 195.

[sea7] 10/9/2017 20:09

ravin,

to clarify,

from beaufort...

Execution risk

Drilling - Despite substantial 2P reserves, historical and current production data, oil exploration is a high-risk activity. There is a possibility that some wells may deliver no or at least less production than the CPR’s 120-150 bopd average estimate. That said, some wells should deliver substantially more.

Workovers - do not always deliver increased production. The Zardab Field is worth mentioning due to its potential importance to near term cashflow. Wells 3 and 21 at Zardab plugged within one week of 500 bopd of initial production. These are valuable workover targets but the clean out work required could be unsuccessful due to the sand having cemented. If this happens it may be necessary to drill new wells.

from align research...

The Zardab Field, located to the northwest of the main Muradxanli Field was discovered in 1981 but has seen only minor production because of sanding issues; a problem in the past but assessed to be relatively simple to address with modern gravel-pack completions.

from zenith...

I very much look forward to implementing other parts of our field rehabilitation programme announced yesterday, specifically the workover of Z-28 in the Zardab field.  This will be our most technically demanding well intervention so far, but equally potentially the most rewarding."

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

I concluded that the gravel packs are deemed to be a simple solution, however, getting this and everything else done, to get the well on production is going to be a demanding and challenging task.

I am under no illusion about the task ahead for z28 and have never been.

[ravin146] 10/9/2017 19:42

Sea7,Chill, lol.I've not read LSE, we get it, you've got it from a research note!Main point is, it is incorrect, and that needs to be clarified. We don't want false impressions on shareholders that z-28 is easy. It will be really tough, and I can imagine, not straight forward and unlikely to be done in their one month target!They can't even sort out well 45 and well 195.Let's dream and hope it becomes true I guess.

[thegreatgeraldo] 10/9/2017 19:35

Carry on like that sea7 & you'll join me on the ravin nutter's filter list ;-#))

[sea7] 10/9/2017 19:22

It doesn't matter, I made a post on another board, to the posters in the conversation, made a reference to the fact that some of what I was saying came from a research note and you have taken one sentence of my post and pasted it onto this board without the reference to a research note. This gives the impression to anyone reading this board only, that I have said the words you copied, when in fact I did not, they have been copied from a research note and that was indicated in the original post on another board.

I did not post a link to the note in question, as those in the conversation are already aware of the note.
I merely referenced them, to ensure that it didn't look like I was claiming the research as my own.

[ravin146] 10/9/2017 19:13

Can't see speech marks not the word "extract"...Anyways it seems a load of shyt imo.Z-28 will be the toughest hence, hired a new team, better equipment hired...etc this is not simple by any means.Still awaiting well 45 update...shocking lack of communication...not even a confirmation that the pump was a success or not in boosting production.

[sea7] 10/9/2017 18:31

I stated in my post ravin, that the extract was from a research note. As I was speaking with other posters who have read the research notes already, there was no need for me to include a link. Anyway I would have thought that you will have read all the research notes that are publicly available.

I do not take them as gospel, as they have a habit of padding them out to make them look better, however, they do sometimes contain information that I do not have.

[ravin146] 10/9/2017 17:46

Latest RNS...."I very much look forward to implementing other parts of our field rehabilitation programme announced yesterday, specifically the workover of Z-28 in the Zardab field. This will be our most technically demanding well intervention so far, but equally potentially the most rewarding."Most rewarding...possibly a 500bopd+?

[pugugly] 10/9/2017 17:15

sanding - suggest anyone who thinks easy to overcome have a look at the problems that the serial failure FRR has had in this area - Also how much invested in FRR has gone to money heaven -- At least here the current drip of new funding is in low figures but unless real break through possibly one of the limping half dead.

[ravin146] 10/9/2017 17:07

Sea7 you must speech mark extracts and properly provide links imo.That could easily still point to your views on the research note.Personally would touch the views of that research note if the BoD state the complete opposite.Who produced the research?

[sea7] 09/9/2017 17:55

Taken from a research note ravin, do not forget to quote that, when you extract one single sentence from a post of mine, which gives the impression that the words originate from me, when they do not. I have extracted them from a research note, which was indicated in the whole post on the other site that I posted on.

[ravin146] 09/9/2017 16:29

Sea7,

"relatively simple to address with modern gravel-pack completions."


...Err don't think so...these are the toughest workovers yet.

Read the last two RNS...they've hired a new Canadian crew!

More to budget!

[sea7] 09/9/2017 12:38

cash.

according to some research notes...

The Zardab Field, located to the northwest of the main Muradxanli Field was discovered in 1981 but has seen only minor production because of sanding issues; a problem in the past but assessed to be relatively simple to address with modern gravel-pack completions.

and

Three wells at Zardab produced over 500 bopd each but plugged with sand from the reservoir. This occurred in 1985 but no concerted effort has been made to recover these productive wells.

[happyholder123] 09/9/2017 11:44

HNR -
TWO wells successfully drilled with abundant oil and gas in samples extracted!
Fracking and FIRST OIL next month!
Don't miss this train!

[ravin146] 08/9/2017 16:09

We can only dream...one day this will do a EME style jump...this is cheap as chips on a friday!

[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