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Yes we should definitely question, and yes things haven’t gone great. But I also agree these wells are some 3/4km down so it’s proving difficult. BUT we did have (I think) success at the first well deepening so something went right. We now need to capitalise on that with the help of our advisors.
If the well perforations come in (I do have high hopes as they were able to (hopefully) pull off a success at C-37). Then this could further improve the sp landscape.
C-30 is obviously the fun drill so could do wonders and I think we are now sufficiently funded to complete these drills and get going on M-247 civil works. (I don’t want another long wait so get started ASAP so a quick move from C-30.
We now await news on many fronts and that could really help push us in the right direction - full operational update please :-) ...Well here’s hoping.
Orjones - Who else do we know has input on strategy here then? Also if you know all other companies have failed why do you think an inexperienced oilman can succeed. Being pragmatic about a stock and commenting on a company's shortcomings is a shareholders duty imo - I certainly don't go around doing the same on stocks I don't hold - what would be the point in that? AC has some good qualities I'll grant you that - I've met him quite a few times and I quite like the bloke, but those qualities do not include operational expertise - he is a financier pure and simple. As chairman, CEO, president or whatever other title (not including marquiss) he holds - has total control and there is no oversight and nobody to rein him in. Zeb16 is correct - we are under capitalised and this is down to our failure to improve production in nearly 3 years and continually having to raise funds from a position of weakness. He has a vision and I admire the boldness in acquiring the rig etc. But he has to recognise his limitations. Anyway lets hope C-30 'blows the bloody doors off' - else it'll be C-3PO and 'help us Obi Wan you're our only hope'.
agreed - AC is not the best nor is he the worst by far. These wells are 4 plus kms down in very complex geology. Most of the criticism is pretty shallow (including mine I must say) and interestingly Norwegian oil investing expertise is not what its cracked out to be
Still there are many criticisms. I think this company is undercapitalised which contributes to the slowness. Placings should have been done when the sp was 10-11 p not at the bottom . But whats the point in going over that
disagree with that appiamma.. it's not just one man.. too simplistic and easy to sum it up like that.. all stocks I've a position in right now are down and all I see is mostly scapegoating of management and laying all blame squarely on them. reason for past failings been disclosed and zen have been pretty honest about it... is AC a veteran oilman and is zen a success story ? certainly not.. is he a moron or deluded and zen a failure? far from it imo.. I think he's got a vision that will propel zen to success and thats why I'm invested. all the oilmen in my other stocks have achieved sweet FA... just look at angus or sound!! we know azer wonder asset is actually pretty tough and all previous companies have failed.. being openly negative about stock you hold simply makes no sense imo.. of course that doesn't mean you should actively encourage others to make same mistake if you believe investing here been a mistake. But why, using same logic, would you want to influence them negatively?? sp was north of 4p a few weeks back and quite a few people made some good returns. all to play for here imo..
Kam, are you suggesting that investors should not post factual data and realistic, albeit negative, opinions because people will sell? And by that token infer we should all post positive stuff encouraging folk to buy, or at least not sell, despite the actual reality of the situation? Sounds rather underhand to me; worthy of the Twitter ramping mob. Fact is this is an asset play, as you say we know the oil is there, but the person currently incumbered with removing from the ground has to this point failed to do so (C-37 confirmation still required). He has failed because of naivety, hubris, ego and inexperience. I would suggest that everyone invested here remains only because of the asset potential, and if it wasn't for that there would be zero investment case. What is opined here will in no way affect the fortunes of the company, they will either be successful or not. Also, I'm not convinced it affects the SP, but even if it does the first point means it's ultimately irrelevant unless you're trading . The responsibility for current situation lies at the feet of one man, and it isn't anyone who posts on here.
I still hope C-37 and the well perforations will throw up a surprise or two prior to the fun at C-30. That’s what we need to get the show on the road ..... C-30 could be a complete game-changer here ;-)))))) ......
Come on ZEN - let’s get those production numbers singing.
Kam...I dont know anymore than you about zen...from what I understand the oil is there we just dont have the team to can the product....Now unless the 2P is false on zenith patch then I still say this is a buy.
No conspiracy here....pure facts, straight from the horses mouth....unfortunately still waiting on the promises though..... the goal of 1000bpd has been round for 3 years now but not any closer to the mark ?!?!?!?.
All I`m saying is that the negativity only leads to more selling and the share price declining. We are all hurting and waiting for updates. Agree that Zenith`s com`s dept needs to pull their finger out so that conspiracy theories don`t get out of hand.