Zenith Energy Share Discussion Threads

[someuwin] 20/11/2017 12:44

Malcy...

Zenith Energy

Zenith has announced an operational update from wells Z-28 and 21 in the Zardab field in Azerbaijan. It makes the point, amongst much technical speak, that ‘the operations present exceptional potential but with difficult challenges that we will have to successfully overcome’. The company admit that they are ‘learning as we go along’ without much accurate well data but are confident of success on both wells and are pleased with current progress. I imagine that all will become a good deal clearer during my visit which starts tomorrow.

[davidspringbank] 20/11/2017 12:31

I thought the presentation was very honest. They inherited a lack of information and are learning more about the field as they go. Unsurprisingly, the old regime was not very good at collecting and maintaining data. I'm sure the Canadians will sort that out over a period of time. They appear to be getting on top of immediate mechanical problems. What's not to like?

[grannyboy] 20/11/2017 11:56

Some of us have been in these for going on for nearly a year..and all we keep getting is a delay for another month..or three, under some obscure excuse or other..

[buffythebuffoon] 20/11/2017 11:40

No, not a great update, but one showing that we won’t be scoring any own goals.

I’ll take constructive reasons for a delay any time. Clearly if you are a T+ trader you might not be too happy, but I’m not; and it’s not the company’s remit to worry about short term traders.

Buffy

[grannyboy] 20/11/2017 10:34

"I think all of this is timed perfectly for Malcy to get on board"

No I'd have said that they had completed the w/o on Z28 and it was flowing oil...instead of what we got..ie they were still looking for the bottom and were still someway off from completing.

[cashandcard] 20/11/2017 09:02

Well, not a great update but not a bad one aswell. I appreciate the clarity, its complicated and taking longer than expected on Z28.

Well Z21 has a high pressure system driving it. Build up to 3,675psi every 10 days or so tells you it wants to produce - and it was crude oil gushing out from that video.

I think all of this is timed perfectly for Malcy to get on board.


Cash

[grannyboy] 20/11/2017 08:50

Duplicate post..edited.

[grannyboy] 20/11/2017 08:35

'Sub message however might be "we will need more funding in the near future"

Well that must just be in your own 'subconsious' because it hasn't mine..no matter how many times I re-read the rns.

[pugugly] 20/11/2017 08:16

Agreed further delays BUT a very honest presentation (imo)



Sub message however might be "we will need more funding in the near future"

Not sure what to make of the continuous pressure build up in Z21- does not specify what is being bled off - Gas - Oil or water - makes a lot of difference (imo) to the prospects

Zengas - Are you able to comment?

[grannyboy] 20/11/2017 07:27

Not the RNS I was waiting for...More delays and excuses...which means everything else gets put back.

[ravin146] 17/11/2017 20:36

Granny hit the nail on the head.., for a while...lolOverreaction here.Buy.Gla....btw..we have had the impression of no placing...only debt issuance next year...and huge production numbers!Dyor, gla...ifyouknowyouknow

[grannyboy] 17/11/2017 13:59

The production from c21..c26..m66..etc won't be in those production figures..so the next update should be a lot better.

[cashandcard] 17/11/2017 12:45

Flagon,


That's the website figure. I would really like an update as to what it is now or atleast after the Zardab wells are done.


Cash

[flagon] 17/11/2017 11:12

P25 from the MD&A state that the current production from the Azeri assets is 350 bopd approx.

Added.

[someuwin] 17/11/2017 10:55

Malcy's Blog today...

Zenith Energy

A brief note on Zenith Energy as I am visiting the company’s assets in Azerbaijan next week. I have been waiting for this opportunity for some time as ever since I met with senior management earlier in the year and was most impressed by them and the opportunities in the region. The marginal field strategy in an area rich in hydrocarbons seems to be like other geographies where small companies can make substantial returns for shareholders and with a very low fixed cost base. I shall report back my findings as and when possible.

[sleveen] 17/11/2017 09:34

Rubbish perhaps, but Z28 and Z21 need to be good.

[ravin146] 17/11/2017 09:24

sleveen - 17 Nov 2017 - 08:58 - 1138 of 1138 - 0Perhaps that why the RNSs don't give a current bopd number.Decline rates are outstripping the oil produced from each cumulatively worked over well. :-(....Rubbish scaremongering....most success has been post oct...wait for next quarter

[sleveen] 17/11/2017 08:58

Perhaps that why the RNSs don't give a current bopd number.

Decline rates are outstripping the oil produced from each cumulatively worked over well. :-(

[ravin146] 16/11/2017 16:34

Poor set of result, market didn't like that...needs to deliver production numbers this quarter or it can say good buy to good term on any debt issuance.Pressure is on, no pun intended!

[davidspringbank] 16/11/2017 16:29

I like the fact that the management have 20% of the company with a potential upside of 41p per share.

[cashandcard] 16/11/2017 15:54

sleveen,


It looks like it yes (Q2 17/18). I hope Q3 is better.

They really ought to get a move on with Zardab wells.

With experts on ground and lots of technical know how available, I am hoping they can take production forwards to end of year/Q1-18 target.

Cash

[sleveen] 16/11/2017 12:43

Looks like Q3 production is replacement production rather than incremental production?

[ravin146] 16/11/2017 12:32

AC need to clarify this asap cash...I thought most success has been from Oct...check my summaries...it was around 350-385 in sept so looks right?The current fall is based on low volume so what is going on?