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Zenith Energy Share Chat (ZEN)



Share Price: 4.10Bid: 4.00Ask: 4.20Change: -0.75 (-15.46%)Faller - Zenith Energy
Spread: 0.20Spread as %: 5.00%Open: 4.30High: 4.30Low: 4.05Yesterday’s Close: 4.85


Share Discussion for Zenith Energy


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Zebediah16
Posts: 1,000
Off Topic
Opinion:No Opinion
Price:4.10
RE: Re : rigs
Today 13:15
hmmmm

- BD-260 workover rig - 6 month rental . Manufacturer: B Robotics W S.r.l.

- BQ 500 new well drilling leased : Manufacturer: B Robotics W S.r.l.

- A100 truck rig- purchased not delivered yet - made in Azerbaijan

So why did they need this money ? Did nobody do the sums 6 months ago? Is there any sort of financial planning . Is this how Lamborghini is run ?
 
Ezhik
Posts: 3,303
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:4.10
Re : rigs
Today 13:02
Hey Mudmeister
What rig are we 'buying' at the moment? The Genesis is supposed to be on favourable lease terms last time I read into the relevant rns, This money is for the 'deposit' on the lease. i.e. if we send it back broken, we lose our deposit (or something like that) isn't it? we are not buying the bl**dy thing hopefully. Well not at least until it proves to be any good without breaking down or being temperamental--much like the Italian Automobile offerings. Including motocycles ---having had 3 Ducatis and a Gilera (just for A.J's amusement)
This rig business worries the life out of me TBH. Is there anyone in the world that is actually using these 'robotics' rigs?
ajbennett
Posts: 5,645
Off Topic
Opinion:No Opinion
Price:4.10
RE: ajbennett
Today 12:42
You are also part of the problem here making excuses for these failures.
sellonnews
Posts: 4,175
Off Topic
Opinion:No Opinion
Price:4.10
ajbennett
Today 12:33
Were you to consider taking a moment away from the constant bleating, a little comprehension might be in order. By way of analogy, if a micro-surgeon was told that the only equipment to be used was a chain saw, does the failure of the operation lay with the micro-surgeon or the person insisting on use of that equipment?

(Clue: it's not the micro-surgeon)
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GL
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ajbennett
Posts: 5,645
Off Topic
Opinion:No Opinion
Price:4.10
RE: Rigs
Today 12:10
Mike Palmer is no better than AC, did you see the video of the "fix" on Z28.
sellonnews
Posts: 4,175
Off Topic
Opinion:No Opinion
Price:4.10
RE: Rigs
Today 12:02
It is suggested that Mr Palmer knew exactly what was required for the work but was hampered by the CEO insisting on inferior rigs being used to maintain the "low-cost" mantra. This was a very false economy as can be seen by the need to finally raise discounted funding to get the correct equipment - a delay which has/is significantly impacted shareholder value imo

It has to be hoped that any future deals are based significantly on the input from Mr Palmer and not the whims of others.
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DYOR
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Mudstud
Posts: 368
Off Topic
Opinion:No Opinion
Price:4.10
RE: Rigs
Today 11:50
I am not so sure buying a drilling rig at the moment is the right approach, I think we need to be pumping 2000bopd to make this commitment, It would be better contracting a drill rig to begin with. MP did start Z28 with the right size rig but had to stop the ops with that rig due to the wellhead leaking, so all things were put on hold until the wellhead was repaired, they then made the mistake thinking the A-80 rig would complete Z21 and Z28 after restart. They should have been looking for a bigger rig back in February for these ops, at least now we have a fit for purpose rig coming, however the sp has been screwed. it will need a good result from Z21 and Z28 to get back to the 10p-12p area again, and lets hope Z3 flows good as this could set the sp alight.
Rickylfc5
Posts: 437
Off Topic
Opinion:No Opinion
Price:4.10
Rigs
Today 11:37
Looking back - Zenith / AC decided to buy their own rig rather than rent (in order to be more financially prudent) - I, and many others thought this to be a decent approach (saving money etc) but, in the end this has caused the problems as they should have rented a Rig that was beefy enough to do the job - MP persisted with our Rig until finally giving up and we are now behind schedule (and have spent more than we should) - a well intentioned strategy that back fired. I still believe the current approach will work out and the SP will recover by the end of the year.
ajbennett
Posts: 5,645
Off Topic
Opinion:No Opinion
Price:4.10
RE: re re pumps
Today 10:56
So tell them.
sarge123
Posts: 2,612
Observation
Opinion:No Opinion
Price:4.10
re 5% guy
Today 10:56
Yes . It was always about Zardab but now with the knowledge they have gathered it is extending . Fortunately the oil price put Zardab in play a lot quicker than would have happened . Zardab should put us back on track and a decent flow from Z21 should bring buyers back . But good flows from any of them and I don't know what to expect but it should be good . . We just need some encouragement now to get away from the placing price but I am not sure what they can do to help that but they need to come up with something . Down 55% on my average now so not delighted but all that has changed is delay , extra shares and a low sp . My belief that there is plenty of good flowing oil down there that they will get out hasn't changed and I know the sp will change to reflect that . I just have to wait .




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