Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Rush !!! I don't think they are going to rush.
Well whatever they know we now have our super-super rig assembled there, with Top Drive, and about to kick-off well deepening activities so that is enough for me. Do it once safely and get it right rather than rush and make errors. Steady as she goes ;-)
We’ve not had the results of the wireline logging have we. Wonder what they know...
https://twitter.com/zenithenergyltd/status/1069576531289227264?s=19
typical - didn't pick up the right link - oh well, there is pictures anyhow.
https://twitter.com/zenithenergyltd?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
c37 debris.
I think it was general sand/debris from the well. There were ( I think ( photographs on twipper unless they related to another well )
could have been a ledge, sand, mud or other deposits.
Wonder what the “obstruction” they described it as actually was. Hoping they know it’s a gusher. Come on!!
yep and if sentiment towards zen was better, the fact that we are simply deepening an existing producer, that has had a blockage removed testing another zone and testing a large, previously undiscovered structure, would have had the price a lot higher than where it is.
Strategy is different: workover v deepening of wells. But each to their own ;-)))
they were using core samples that were over 30 years old, well data that was incomplete and inaccurate. Some wells hadn't been on production for decades. The twelve well workover plan was provided to them by socar and not by their choices.
this is a completely different strategy to the previous one. They are leaving the old soviet era wells until later and focusing on wells that are newer, have better datasets, production profiles and they have done some 2d and 3d over the areas, hence the newly discovered structure at c37.
They saw something they liked at every well and everyone was a failure.
The team have obviously seen something they like at C-37 .. hence the large setup here ..... I hope they are right and we get the transformational result we need.
Get is right zen take as long as you like.
I thought AC was crazy selling shares at 3p and buyin warrants at 7p. Hes lookin at larger picture..
can you imagine what will happen to the share price, if the fluids in that 100m thick, 3 sq km structure turn out to be hydrocarbons, with a very large naturally pressurised well.
These fields have a history of large compartmentalised structures that pour out oil. There are plenty there and this could be a big find. Hence the very big rig and careful planning.
Do not forget, the last well workover plan was provided by socar to zenith, so they will be heavily involved here. Thankfully andrea doesn't get to do this alone.
c37 was producing 5bopd, as you say. They cleared an unexpected obstruction, which has probably been the reason why it was only 5bopd with artificial lift. This well, once deepened, could be producing from three separate zones. One recently cleared of an obstruction, the first deepened section and the new 100m thick, 3 sq km, newly discovered structure.
yes, there is a buyer in the market - the bid has been offering a premium this week.
I am able to get a sell quote for a fairly large number of shares. This has not been possible for a week or so. Well,, not with HL and not at the times I have checked. At least someone wants them.