Zenith Energy Share Discussion Threads

[fatfish] 29/5/2019 17:46

the man keeps buying, for his family too. Must be confident.

[pretax2] 21/5/2019 08:33

Ra ra ra go Zen
Oh 🥴

[neo26] 20/5/2019 11:14

Granny boy

Yes indeed that was the case, but once they commenced workovers on the Soviet wells it appeared they were not upto standards .

These next 3 wells will decide zens future.

Credit is due Andrea continued to buy .

Let's see, not long for the first spud. There will be weekly updates if not earlier. It's a short drill well c37..

[jungmana] 20/5/2019 10:42

Sdx CEO just got fired. Cattaneo should gave been fired since last year but is still there. The next 2 months should determine his future as CEO imo.Good luck to us

[garymegson] 20/5/2019 10:29

Ha not very good that's an understatement

[jungmana] 20/5/2019 10:02

Bloe were expecting about 300bopd and ended with over 1000bopd flowing. Let's hope same luck comes our way.Not long to go now

[grannyboy] 20/5/2019 09:55

Cattaneo was expecting 1000bpd by middle of 2017, then it went to December, then on into 2018...

This company is not very good at keeping to timetables or targets...

[neo26] 20/5/2019 09:50

Upper Cretaceous is additional prospect.

[neo26] 20/5/2019 09:45

Interesting he expecting between 250-500bopd from Eocene formation.

[jungmana] 20/5/2019 02:33

https://youtu.be/JKuqTFOd1jo

[neo26] 17/5/2019 11:43

Fatfish

But what also has the CEO said, those wells in the Soviet era are in bad condition and it's not worth working on them. Quite clearly u seen oil is there but they will need to drill new wells, Socar drilled 7 wells from 2007 these wells are reliable to do workovers on.

Best to drill new wells and deepen post Soviet wells.

Should this new structure come in then those new wells drilled by socar will all likely be deepened and production increased.

Let's see, this is why say c37 well is important.

[fatfish] 17/5/2019 06:40

neo26
16 May '19 - 18:18 - 2577 of 2581
0 2 0
Sea

The new well zen-1 after c37 and C30 will likely strike oil.

1000bopd by year end very likely.

CEO been saying that for 3 years also shares will be a £1 didn't happen. However still hanging in here it does seem to be improving and did manage to average down considerably.

[barnetpeter] 16/5/2019 22:30

It looks to me that Zen is way ahead of Bloe

[neo26] 16/5/2019 20:34

There are 7 wells which were drilled by socar from 2007-20010, they have option to deepen these to increase production.

Whats interesting is that they can convert these to horizontal wells which will increase production significantly. I wonder why they dont do horizontals.

Also if in the Upper Cretaceous they find oil it opens new avenues in those 7 wells.

C-37 is important drill.

[sea7] 16/5/2019 19:06

Yep - they have plenty to work with and a pipeline of wells to drill.

[neo26] 16/5/2019 18:18

SeaThe new well zen-1 after c37 and C30 will likely strike oil.1000bopd by year end very likely.

[fatfish] 16/5/2019 17:51

rpat2
16 May '19 - 16:43 - 2571 of 2573
0 1 0
Looks like some bitter old investors in here! Probably with high averages locked in!

Don’t be upset guys, I’m sure what I’m saying is just utter tosh !

yep that's another well known phrase ''Bitter old investors'' Keep trying to think of something original

[sea7] 16/5/2019 17:49

yes, after trying different wells on very scant data, they didn't get a decent result, so they have changed tack and we are about to see the beginnings of the new strategy play out.

[neo26] 16/5/2019 17:43

The new rig can definately handle that well.But I believe it's wise to test c37 and C30 wells. Eocene is producing zone in our acreage.

[sea7] 16/5/2019 17:12

yes- they were going to work on it after C37, however, now they are going to another well in jarfarli, before going any where near z21 again.

align research note at the time said this..

Basically, delays have occurred at the high impact work overs of wells Z-21 and Z-28 in the Zardab field. With this field being so neglected there has been little reliable historical data on these two wells which has made the work challenging. So, these two workovers have had to proceed with the team relying on gathering this information as they have gone along with the work.

The ops update in May last year said this...

Z-21 workover

As announced on May 8, 2018, Zenith has pulled out a mixed string, comprised of 2 3/8" and 2 7/8" tubing, totalling 3,504 metres, as well as all of the 4 5" tubing, totalling 1,500 metres, using its A-80 workover rig. In addition, in the period since the aforementioned update, 111 metres of tubing from 3,504-3,615 metres has been successfully cleaned out. Zenith has been unable to run wash pipe beyond the depth of 3,615 metres to fish the remaining 166 metres of 2 3/8" tubing in the wellbore due to an unforeseen change in the tubing diameter. The change in tubing diameter was undocumented in any Z-21 well data.

The Company now intends to pull the entire tubing string out of the well. It has been determined that a more powerful rig will be required to perform the task. Once this is completed, Zenith's field personnel plans to run in hole with a drill bit and clean out the casing to the well's total depth, 3,982 metres, and subsequently perform a production test.

The larger rig will also have the capacity to deepen well Z-21 beyond the Maykop formation into the Eocene formation by drilling an additional 300 metres, extending the well's total depth to approximately 4,270-4,300 metres. As announced on May 8, 2018, the final decision on the deepening of Z-21 will depend on the outcomes of the production tests to be performed once the casing has been cleaned out to the well's current total depth. The Company will not perform any drilling operations in Z-21 if a satisfactory rate of production were to be achieved from the Maykop formation.

..........

and that is where z21 is at. They have decided to increase production from wells that have a much better data set, as well as drilling records.

z21 is on the list, but further down than before - that well is highly pressurised and I think they are reluctant to touch it again until they had better kit.

[thetoonarmy2] 16/5/2019 16:45

Does anyone have any idea about what happened to z21?

[rpat2] 16/5/2019 16:43

Looks like some bitter old investors in here! Probably with high averages locked in! Don't be upset guys, I'm sure what I'm saying is just utter tosh !