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Zephyr have posted this footage of state 36
https://x.com/ZephyrEnergyPlc/status/1783791065113260099
Drill pad is looking good. Fingers crossed for a start this week and get this show moving again.
Oil price holding well and previous hedging would have helped Zephyr December 23 through to March 24 with maintaining a good price. Now back above the previous Q1 hedging price though. I wonder if they will hedge any more of their non op production?
A conventional drill into a natural fracture of this nature will flow fine. Zephyr basically executed this type of drill previously and added a tiny lateral on the end once they tamed the initial kick. The plan had been for a long lateral and the method is well proven globally.
As for 'failing spectacularly'... Zephyrs drill was absolutely fine. It was a sudden and catastrophic failure of a surface valve which led to them having to execute well control measures. Part of which is to crimp the coiled tubing to prevent blow out. It is that crimping of the tubing that created further problems as it proved nearly impossible to remove the damaged pieces. Yes it could have been done if they had persevered but the costs and time were outweighed by just redrilling. Hence where we are today.
Be interesting again to see how voting goes at next agm. Last time 13% against JA. Some others had over 30% against. You would have thought that they would have tried harder for shareholders value while taking their massive salaries.
How much actual progress this past year??
What have they communicated??
Do they deserve to stay??
The company as in SENX? or are you on about the investment company Xtellus Capital Partners?
If you are on about SENX, it is definitely not them as they are not sanctioned to buy back shares as it was voted against at the last AGM.
Along with what is currently happening in the paradox and white sands unit (WSU). ZPHR have their fingers in a Helium play.
A bit of research and there has been a new permit application go in on 2nd April for a drill in the Salt Wash area. This is on an existing pad south of the WSU. There is also an existing permit on the same pad recorded but this may have been amended by ZPHR hence the new permit.
What is interesting is it looks like a lot of people use the land they plan to drill on to camp with RVs and Caravans. So they could be in for a shock!!
Only thing I can think of is Mcap is less than asset value. Unless there's some movement on activities in Tunisia... or even Romania.
Xtellus were buying a while back. Maybe they want to get more.
I see State 16 as a exploration development well also. I have said so many time before and a long while ago. They will use it to test the horizontal concept further and develop methods to prevent salt build up. They are also going to use it to drill/ test overlying layers in the same way. C9 will be the next test there after they play with the salt build up issues. But need the pipeline still for whatever they do.
A lot of the bits have been there for a while. Not sure what was left to bring in but they will then rig up before bringing the drilling crews over.
According to the Utah (udogm) data they are already drilling but that’s never accurate.
The timescales have not changed. In fact they may be a tiny bit forward of initial plans.
They have always said rig up in mid April with drilling to start straight after. H&P had to move all the equipment from the previous drill they were doing first.
From rns “ The H&P rig has now been mobilised to the well site and will begin rig-up activity in mid-April, prior to commencing the larger drilling operation.”
Colin has confirmed the exact same thing today
https://x.com/ZephyrEnergyPlc/status/1775805925296587188?s=20