Tweet from Zephyr
Zephyr Energy
@ZephyrEnergyPlc
At the State 36-2R well, casing has been run and cemented, and the Nabors rig is in the process of demobilising from site. At that point, the pad will be prepared for the upcoming completion & production testing operations. We will provide further updates as operations progress.
Progress ....slow but sure |
 Superarch. The statement simply refers to concentrations of gas having been recorded in drilling fluids (synonymously refered to as mud) at certain points during the drilling of the horizontal drain through the prospective reservoir section.
It's very common to record gas in the mud, particularly the closer you get to the reservoir. 'Gassy mud', as you put it, could actually happen, where too much gas enters the well bore due to drilling fluid density being too low, which would be a dangerous scenario that could lead to a kick or blowout. There's no such thing as 'muddy gas'.
What was omitted, however, was any reference to signs of oil shows in the cuttings, which is significant but not necessarily definitive of an absence of hydrocarbons - possibly due to a markedly increased drilling mud density through the reservoir, to supress the release of HCs, about which no mention was made. So, good reason for some caution..
To answer your question, then, most of all there is to know, including the rates of flow, will be revealed following testing. |
Yes hadn't spotted that, all 260k 3.1 and 3.11, 3 of each. |
All rollovers. By the look of it, |
Could be, can still sell 100k for 3.18p |
Interesting group of sells going through this afternoon are they options? |
Nice 1.15m [assumed] BUY just after close yesterday.
Let’s hope for another at 0805 on Monday and more to follow.
I think we can safely assume a tick-up during March “includingR21; many who may well be T20 traders.
Can enjoy the rugby fest this weekend in the meantime to take our minds off ZPHR. |
Final word from Malcy for the weekend:
So the well has started in good order with the lateral drilled within the Cane Creek reservoir section successfully, no easy task and in a ‘structurally complex play’ with 97% within the section. The elevated levels of mud gas are highly encouraging, and were present across the reservoir with multiple notable peaks – always a good sign.
The Zephyr operations team is now preparing to run casing across the drilled section after which the rig will be demobilised from the site after which the company will mobilise equipment for completion and testing of the reservoir zone.
So we now have 4/6 weeks of waiting whilst the well is tested, after all this time the tomb will soon be opened up to the public and the Paradox Basin will be revealed…
🤞🤞🤞🤞9310;🤞 |
My ISA is offering me 3.25 to sell. |
The way I see it, now we are 50:50 with our well investor, the bottom line with 36-2R is that we need, as a minimum, to double what we produced on the last production test. Let's hope we get there. |
No one is interested in your stools. |
Last time the 'production' testing took a lot longer than anticipated so it could be the same this time around. But I would think they will know a lot sooner but may or may not tell us. If it's good they should put out an RNS quickly.
The share price is barely moving, a reflection that all the other work they promised would be taking place last year is not mentioned. We need positive news on different fronts or this will only spike upwards on good test results before slumping back if nothing else is happening. It's easy to say I don't know what is going on in the background but I have been here years and need something visible in the foreground!
We were promised production by winter 2024 was of utmost importance sometime last year so now CH needs to deliver that, not just a test. I am not being negative, I am being truthful and am fed up with this useless share price. |
Good point fenners66. I was wondering too if some indication of the testing might come earlier. After all, if you are testing something there must be an early indication of something either poistive or negative on the initial tests; say within a week or so from starting.
Just so long as they don't blow the bloody doors off this time (to be read in your best Michael Caine accent. |
So another 6 weeks or so before they get any test results - with the hole already drilled is that normal or could they get test results much sooner than that? |
The company is making progress. Patience will be rewarded. The share chart bodes well. |
Continuation of previous postByFollowing a detailed assessment process, the Board is pleased to announce that it has now approved the drilling of the extended lateral.This decision was based on the following two key factors:· EURs from the well are expected to be substantively higher once the proposed extended lateral is completed. Management estimates that, based on all the available data, the EURs from the well could be as high as two million boe once the extended lateral is completed, given the increase in size of the well's drainage area following the completion of drilling; and, · the acidisation process used in the well production tests was extremely effective and had the benefit of significantly enhancing near-wellbore productivity. The Board believes that the combination of a longer completed interval and subsequent acidisation could potentially be one of the key factors in the successful long-term development of the Paradox project, reducing costs and improving EURs from the well. This could result in significantly reduced project risk and enhanced project economics. Based on these factors the Board believes that it is firmly in the best interests of the Company and its Shareholders to proceed with the extended lateral. |
Solaris, you have no idea what's going on behind the scenes. The importance of proving up 36-2 is paramount. Try and be satisfied with one big step at a time.
Learn from Warren Buffet. |
A reminder from a previous RNS that the well has already flowed."On 6 September 2024, the Company announced that following two successful production tests, including achieving peak production rates in excess of 2,100 barrels of oil equivalent per day ("boepd"), the well had been temporarily shut-in, as per normal operations, while Zephyr's team evaluated the data gathered from the production tests to determine the optimal way forward for the well.The key decision from this assessment was whether to produce the well in the short-term, or to defer production temporarily to extend the wellbore (the "extended lateral") to increase overall hydrocarbon recovery potential.While the Directors believe the well is capable of considerable production rates in its current form, it would be doing so from only a 130-foot completed interval which would make it more difficult to extend the well in the future as a result of depletion in the area of the wellbore. |
Was it? Solaris just whinged about stuff we already know the answers too |
I think many people will wait to see if and when they are going to produce some oil that can be sold. 'Encouragingly, elevated mud gas levels with notable peaks', is not
the best we hoped for. Nothing about oil.
There is no news about Saltwash, nothing about any future drilling, nothing about 16-2.
All we know is the drilling has been successful which is the good news but that's about it. |
The upside far outweighs the downside. I am surprised that investors have not cottoned onto this. |
Still a great opportunity to buy cheap shares for those with not too many !! I already have loads but surely the risk factor now is minimal !! |
Good news so far, now we wait until the end of March. |
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