Zenith Energy Share Discussion Threads

[ravin146] 21/12/2017 17:06

The 1000 by march target is smashed to pieces now.Without any good news in the coming weeks, I can't see how you would get new buyers here

[grannyboy] 21/12/2017 17:01

It can quite easily turn to selling. LOL!

[davidspringbank] 21/12/2017 16:42

I knew the penny would drop and they would start buying. Lol

[sleveen] 20/12/2017 15:02

1.1m sell after hours:

17:04:26 1,100,000

I dare say some of the warrants and/or options hitting the market.

[sea7] 20/12/2017 13:17

david,

thanks for the comments.

It is good to get input from holders that have industry experience, as they can highlight areas that others would not normally be aware of.

[davidspringbank] 20/12/2017 10:53

sea

I worked in the industry for 35 years drilling oil and gas wells worldwide so I understand what's going on and what they can and cannot do. These guys have taken over an old operation that has been running for a very long time and the info they are working with probably leaves a lot to be desired. In the old days they were perhaps more concerned with getting the job done: ie, drilling the hole than in recording data. They are still learning about the operation with every job they do. The equipment they have inherited will also be old which is probably responsible for some of their current problems.

They obviously know what they are doing and are turning the operation around and increasing production. All this of course takes time, but they are getting on top of it and I wish them well. I reckon in a couple of years they will have transformed the operation and the share price into something that everyone will be proud of.

That's why I own these shares with a target of 41p per share.

[sea7] 19/12/2017 23:05

davidspringbank.

I guess you didn't read my post- I was saying exactly the same as you - it needs fixing before moving on.

I do care what the guy on the ground is saying, as he is the one with inside knowledge, not anyone on these boards.

[muddy_40] 19/12/2017 15:30

Ravin,

I agree it is bad show in M195, reckon we will never hear about that one now, so Z28 was the next w/o, today they explained reason for delay, it is sods law and these are old wells, at least they come out with good honest update, and now we just have to wait on Z28, meanwhile Z21 is away to kick off and we know the oil is flowing there, pressure is good,however, they still have to go in there and retrieve all the tubing I would imagine and then test the integrity of the well..all to play for.

[grannyboy] 19/12/2017 15:03

Sometimes directors buy shares in the company they run to bull up the sp, or to try and stop it falling further after a bad RNs....cattaneo has form in this regard, and its an attempt to limit the damage to his long, he's just recently taken out...

[davidspringbank] 19/12/2017 14:44

It's great to hear that he's recently bought another 250,000 shares. I like people with skin in the game and he and the team are doing a great job.

[cashandcard] 19/12/2017 14:39

ravin,


It does look like a tough target to meet now. However, I will not rule it out until Z21 and Z28 are completed. What they said today re. pressure readings from Z21 is highly encouraging;

"The average wellhead pressure recorded has increased from 3675 psi, announced by the Company on November 20, 2017, to a current average shut-in tubing and shut-in annulus pressure reading of 4115 psi"


If they cannot get Z21 to achieve decent rates then its problematic, its the one well that we have actually seen gush crude to surface. If they achieve a good result on Z21 and Z28, but are a little off the 1,000bopd target - I won't hold them to it.



Cash

[ravin146] 19/12/2017 14:25

Muddy not one large workover is complete to date.Well 195, z-28...no one complete.ESP programme is delayed (allegedly- though yet to be RNSd)Honesty is the best policy, but delivery of results is key.Btw why is the CEO now buying 250k shares and after seeking and buying spread bets lol...Hopefully it delivers but 1000 bopd by March is now smashed up...cost are rising.Needs all warrant exercises now imo.

[muddy_40] 19/12/2017 14:07

Ravin

They have completed a few w/o's remember the perforations, they have had several unforeseen issues on Z28 and fixed them as they go on, now this issue need a bit more time, so it is on standby, until they get it organised, they have informed the market which is good, now we have Z21 to look forward to meantime.

No one said these were going to be easy..or maybe Andrea thought it))

[ravin146] 19/12/2017 13:31

Oh dear...delays and still not one workover complete.The recent investor conference was a bad decision imo

[davidspringbank] 19/12/2017 12:35

I don't care what Mike or anyone else said, I'm just telling you the score. A leak is a leak and it must be fixed and pressure tested before they carry on. It's called standard operating procedure in the oilfield.

[sea7] 19/12/2017 12:20

exactly.

mike said...

it is clear that there is a very strong prospective pressure in the formation that these wells produce from.

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

They have seen what happened at z21. They are not going to take an unneccesary risk at z28 over a seal. They are following the correct procedure, which is to get it fixed before proceeding.

If it were to blow out later and someone got injured, the investigation would say - why didn't you fix that when you knew about it. Negligence.

[davidspringbank] 19/12/2017 12:13

This is a live well. They cannot go ahead with c/t until they've fixed the leak.

[sea7] 19/12/2017 12:08

these wells have lain dormant for 30 years. I am not expecting them to be tip top.
A leaking seal is a fixable issue. The underground work is largely done, however, they have CT work still to do.

[sea7] 19/12/2017 11:52

andrea is being paid in shares until april 2018 - subject to approval at the agm next month.

[aimmafia] 19/12/2017 11:31

Problem after problem here

[davidspringbank] 19/12/2017 11:17

buffy

I was joking!

[sleveen] 19/12/2017 11:13

Just topped up 7.722p.