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I believe it will take less than 3 weeks to drill and test. We finally have a date for spud.
buying the rig was bang on imo.. glad we've finally got a confirmed date. hope AC gets this right and delivers the black gold, we all deserve it
Now we finally have an actual spud date. 8 days from today. With spares and forward planning for c30.
It is about time and this appears to be a much more well thought out plan. They now need to prove that decision to buy that rig.
I think AC[s comment suggests a sense of exasperation at the delays so far but he has now been given a date- what more can a ceo expect???
Thanks, I’ll take a look
I use VOX Markets for all my RNS alerts and they are very good, it's about as fast as you will get them.
I pay for this site for L2 and the RNS section is poor. I go to the live RNS stock exchange website, they all appear at 7.01
Ezhik - the full RNS can be read on VOX mate but all looks very positive and looks like they have finally got everything together
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Commencement of Well Deepening Operations in Well C-37
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased to announce that the commencement of well deepening operations in well C-37 is scheduled to begin on July 26, 2019.
Well C-37 Deepening Operations
The Company's drilling activities have two objectives.
The first objective will be to deepen well C-37's total depth of 3,987 metres by approximately 30-40 metres and drill all the clastic layers of the Middle Eocene formation.
The Company's geological and reservoir investigations have indicated that the Middle Eocene formation in well C-37 may hold significant oil reserves. This view has been supported by the fact that an adjacent well, C-22, achieved a sustained rate of production of approximately 700 barrels per day from the interval between 3,902-4,014 metres.
The second objective will be to penetrate the previously untested and recently identified Upper Cretaceous (Mesozoic) formation structure by deepening well C-37 by an additional 250-300 metres. Upon completion of deepening activities, a series of wireline acquisitions and production tests will be performed first in the Upper Cretaceous carbonates and later in the Eocene clastic sequences.
The Company's geological and reservoir teams believe that the testing of the unexplored Cretaceous play has the potential to provide valuable information regarding new prospective exploration activity to be performed across its Azerbaijan asset.
Well deepening activities are expected to be completed during approximately 30 days and the Company will provide updates as appropriate in accordance with operational progress.
BD-260 Drilling Rig
As previously announced, the Company has recently taken delivery of a Top Drive System which is expected to greatly enhance the performance of drilling activities, specifically on account of the increased safety and operational flexibility offered over the traditional rotary system. The Company can confirm that the Top Drive System has successfully been installed and is currently being tested in preparation for the commencement of drilling operations.
In addition, the BD-260 has undergone a full host of upgrades to its mud system which have increased its capacity in preparation for the requirements of future drilling activities.
Zena Drilling Limited, the Company's fully owned service company subsidiary, has acquired approximately US$250,000 of spare parts to mitigate against the risk of delays being incurred during drilling activities as a result of equipment failures.
It is expected that the operational performance and the speed of future drilling operations performed by the BD-260 drilling rig shall progressively increase once the set-up and introductory operational activi
Verbier. Where is this info please?