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callit, I omitted too much detail as it will only assist in identifying the Field. However, in answer to your question I can add that there are 2 wells involved in the gas cycling process. One produces "wet gas" from which the condensate is extracted; the other receives pressurised "dry gas" which enhances the reservoir pressure to optimise "wet gas" flow. The total system will be balanced and controlled to ensure equilibbrium between the two variables of 'max condensate' and 'minimun dry gas'.
That’s far too technical for me for the same !! :)
However - just thinking about the number of deals now awaiting completion/approval. Once these are completed to fruitition then we will be a different beast altogether!
I can imagine the said sp will have something to say about it as well.
Thats AGEOs, I was wondering the same myself if they would use that gas to make electricity.
I wasn't sure if there was some operational reason why the gas was being pumped back in or if it was just to avoid flaring it off?
Does anyone with more operational O&G knowledge know if there are reasons for pumping the gas back other than just to get rid and not need to process now?
The “Potential Acquisitions” which are the subject of yesterday's RNS are readily identifiable to anyone familiar with the Tunisian O & G industry and from available information appear to have synergy's with ZEN's other acquisitions and potential for further development.
Disclosure of the Field identities would not be appropriate at this stage but it is possible to add that the “First” has previously been assessed as having potential for gas production and sale in addition to the 500-600 bopd production re-instatement. The unrisked prospective gas resources might also be amenable to ZEN's gas to power conversion technology. Longer term there is the potential for exploration of a deeper Triassic reservoir.
The “Second” Field was assessed pre-2020 as having the potential for several new wells and for side-tracks from the current production well. This has a beam pumping system and produces from a single horizon in a Cretaceous reservoir.
AGEOS
I would like to see the workover programme in Tunisia begin right away for the same.
We need to bring some excitement back (and accelerate production) and sure way is to get the rigs moving.
Oil price is stable and just needs the large economics to let off rains then we should hopefully be settled a lot higher.
Takeyourbets now you see no reason to be sad had i done so. I have been around too long to get excited yet. In time maybe but not for a while yet.
Hi market
Of course i understand. However just to put things into prospective, i have been involved with Tilapia for several year and also met the original ar**ole CEO for lunch. One thing for sure is the holdup has been consistant. Government has always been an issue. Just my frustration with this ongoing issue coming out
Docit - From reading my post earlier, do you now understand the process which needs to be gone through for Zenith to be granted the Tilapia license?
All of us investors should understand the relevant steps that need to be completed for the Tilapia license approval process to avoid unnecessary panic at imagined delays. .
Our license approval cannot proceed until the Minister of Hydrocarbons is appointed - so this is the next key Congo step for us to watch out for. Only once this is done can the PSA negotiations be finished and approved.
For one i have not sold out nor have i lost out on what the markets rear this as a minimal 5% rise. 100 barrels a day is not going to make us a fortune i'm sorry to say. But hey we have a pottential in the future for 1000 barrels per day, let's see if that materialises and then we would have something to shout about not 100 barrels per day. However down a small fortune on all the promises from several AIM shares as i would think this the case for many. The markets seem to think the same as i. Some jump on the defensive as soon as a question is asked that might have a negative appeal. All i can say is wait for additional funding here. I am not out as some presumptuous persons might think, i am frustrated at the same stories going around and all us share holders become so excited , accept all that is said then start punting these AIMs whilst the share price drops yet again and they raise more money to pay the wages. Pointless me getting out here as i have lost a lot on paper already. I would think many are in the same situation and a 5% increase would not touch the sides in aiding recovery. My opinion folks thats all.
Docit just sad he sold he sold out and now good news came. If I were you I would get back in before the run back to 1.5p in the next next month or two.
Docit, at the end of March you were on this site alleging that the company had not updated shareholders about Congo since 23rd December 2020. This was incorrect. You are now claiming a stumbling block exists based on nothing more than your desire for news.
You have to understand that there is a process that needs to be followed for Zenith to receive the license and the company has been very clear about this. I have written this in full a number of times, but here it is again. For Zenith to get the new Tilapia license:
1. The President Denis Sassou Nguesso needs to win the election (Done)
2. Once DSN has won the election he will need to be inaugurated before he can appoint ministers and begin the process of running the country (this was completed 3-4 days agon).
3. Denis Sassou Nguesso then needs to appoint a cabinet of ministers to run the country. The relevant appointment that relates to Zenith is the appointment of the Minister for Hydrocarbons (still waiting for DSN to do this).
4. Once the new Minister for Hydrocarbons is appointed (and JMTT and Teresa Goma are kicked out) then we can expect that we will proceed with the next stage of the license renewal which is getting the Production Sharing Agreement sorted out. (as the new Minister for Hydrocarbons needs to approve this).
5. After the PSA is sorted then it goes to the cabinet of ministers to be ratified (so this cannot happen until the cabinet is appointed).
6. 5. Finally, it goes to parliament for final ratification into law. Only after all of these five stages are completed will Zenith receive the 25 year license for Tilapia.
The idea that Tilapia “is dead in the water until further notice” is complete untrue. It merely demonstrates that you have misunderstood how the process works. At the most basic level, how can the Ministry for Hydrocarbons approve the PSA when there is no Minister for Hydrocarbons appointed to approve it?
Summary applied to both miln.
Your summary applies to Congo. The rns does not relate to Congo.
Thanks guys. Seems dead in the water until further notice i guess.
Read the thread Docit we already know whats going on in congo!
Strong statement re profitability today..
"We expect to shortly achieve a daily production in excess of approximately 1,000 barrels of oil per day by way of our recently announced acquisitions, as well as the near-term development activities we intend to perform in these assets, which would very favourably position the Company in terms of profitability in the current oil price environment."
Just need that sign off.
Good news but where's the Congo update. Where are we with progress. When will we complete and commence drilling if ever. It uas been some time since the last RNS regards to the congo agreements. Clearly a stumbling block exists. Come on Zenith, let your share holders know what's going on in that departmemt.