Member Info for Adon30

Errr.... ummmm.... errr .... ummmm silence.... errr.... ummm

That's all I'm hearing..... so your not missing much

Are there salt deposits?

There was a $4.5m rework cost in Tunisia that has eaten into that cash.

The 400boe/d+ they are hoping to get from N-2 should replenish that. Although the acidizing cost will need to be offset in the short term.

At least the oil and gas prices have increased slightly lately.

The Sabria N-2 well is currently flowing to surface and is dewatering in line with behaviour the Company has observed in other wells on the Sabria field. Subject to the progress during the dewatering phase the company is considering acidizing the N-2 well to enhance the flow performance of the well. The Company's engineering analysis estimates that a successful workover and recompletion will initially increase gross production from the Sabria field by approximately 420 boe/d.

I think well was supposed to produce several hundred a day and that was net to SENX. They have a 45% working interest. They may not have included it as not part of the lift that happened and only been online for a bit.

No change in production other than reduction in commodity prices means they are getting less.

AF no longer listed on the RNS. Has he finally gone?

Still talking about the same stuff as six months ago. Do they have any clear forward strategy? Or are they going to run out of money?

TC, tell that to the TXP investors this morning who had nothing but a Q2 report.

The Q2 results and reporting period are only for April, May and June. There is no requirement to provide details of current works. But hopefully an Operational update will happen, as it has been a month since the last one.

They could just provide a Q2 results update next week with no further information about work in the Paradox a bit like TXPs update this morning which had nothing about their two major catalyst other than a short line from the CEO.

Think we are slipping past my mid August deadline for testing now anyway....

The production is supposed to be stabilised with the compressors in Romania. We will see...

In Tunisia they only have a 45% working interest so maybe their partner has told them to hold off with results whilst everything stabilises at N-2. It does look as though a pump is installed.

They were also supposed to be coming back with a plan on W-1 after the mess up there. So hopefully they can update on that. Or provide a better option for increased revenue.

Also going to be interesting to see what both of them have cost and how much cash is left. Can't explore or drill if the money isn't coming in.

Not sure when/if next oil lift due in Tunisia but oil has averaged around $60-65 during the last quarter. Hopefully they sold it at a high point!

What has been odd is the resignation of the CFO just prior to the AGM results (Which weren't that complimentary of the board). What does he know to make him jump ship from his highly paid salary? And why is he still there and taking that salary? Surely he should be gone by now as it was 3 months ago.

Why should there be an Rns today? They always schedule the presentation to be on the day they release the quarterly results which will be Monday.

As I’ve previously mentioned. Q2 report due so they may leave that until after the weekend so they can also report the most progress at state 36 possible. They may even have nearly finished the pipe replacement.

I was wondering if the white truck came with the purchase! 😀

Just a large fenced area with some pipes and a storage building by looks of it. At least they don’t need a new permit for it as would be several years to get that at this rate.

If you look at 16-2 on google earth there’s actually a truck speeding away from site and you can see the liquids storage.

Hopefully this link works below for google earth. Take a look at 'The Facility'

https://earth.google.com/web/search/38.86091,+-109.96003/@38.86091,-109.96003,1383.2428181a,800.87011153d,35y,0h,45t,0r/data=ClgaLhIoGVFmg0wybkNAIXJLqyFxfVvAKhQzOC44NjA5MSwgLTEwOS45NjAwMxgCIAEiJgokCT8OiRwqb0NAEfxvT3fBbUNAGYbTOLWSfFvAIQM6qzhuflvAKAI

Keith what date was it at MOU-2? I can not see any evidence that it appeared there. It is not an easy thing to hide.

There is still something huge at MOU-4 that hasn't moved since drilling finished. So if it is not the rig then what is it??

Still at MOU4 from what I could tell when I last looked

Yes, one of the data portals that has all of Zephyrs information so is reported officially.

If those are Junes figures they may be able to provide Julys at the next update. But were also flaring again at 28 over the weekend. So, appears an ongoing thing.

Surprised that they haven't applied for a permit to drill a horizontal there yet.

3 days producing in June (or maybe July as reporting is strange)

214 Barrels of oil

940Mcf Gas

zero water apparently....

No point extrapolating that to a months production as these wells don't work like that. They need shut in and then production. Wouldn't have been able to do anything with the gas but $16k of oil to cover the testing costs.

I'm fairly sure N-2 has a pump on it. Equipment for rework left a long time ago.

Just hope that someone turned it on before hitting the fairway.

Dread to think what Romania production has dropped to now... Q1 was: Romania - 163 boe/d

No mention of AF disappearing into the distance with all the other ongoing controversies. Are they still paying his inflated wages while income drops?

Q1 Tunisia - 528 boe/d... will this be more? less? the same?

Argyle, I have many times questioned CH as to what is happening with permits and received silence. That permit has been outstanding for 9 months now and I was hoping that as they’d finally got the WSU sanctioned the permits would come quickly. They also have an outstanding permit for a 16-3 well to be drilled which is outstanding from April (I think).

As they have no production on the immediate horizon I don’t think they have a big incentive to chase these. Although they could be going back and forth with the authorities so that they will be ready when needed.

Salt can be dealt with quite easily now days but they will need to confirm they have the right processes and test them. Although they can’t test if they don’t want to flare… as don’t have the pipeline to the facility which needs a permit… and the facility hasn’t been reworked and commissioned yet as they don’t know how much it needs to handle as they haven’t been able to test. It’s a catch 22 situation. Hopefully something will give shortly and get this moving as it’s been many months now.

MT, I was supposed to put Easter for full production not April. Although they are within a few days of each other.

Yes and it is all a guess. That is why I wrote ’my guess is’ to see what other people’s guesses were. It’s nothing serious as the next update likely to come with the non ops production if they haven’t completed it before. If they do they would certainly rns it.

I would love it all to be done soon but the company has not presented any details. So how can investors have any confidence in what does or doesn’t need doing to make things happen in a reasonable timeframe?