Member Info for Adon30

If you put it in false colour the flare stays orange. Also can be really obvious under other filters.
They have moved the flare stack to a different position on the pad from when initial well tests took place.

Flare at 16-2 testing site.
First time I have seen something on the image (partly due to cloud) so all systems are go there

Rig actually arrived 5th December (as I posted) so has taken just over a week to get set up.

Also from an earlier post I made:
"Current Tunisia production rate is floating around 517 boe/d

The SAB-W1 well workover and ESP installation will take approximately 60 days to complete (end Jan)
This will add 358 boe/d net to Serinus @ $30-40boe net back ($80-100 oil) $10.5k-$14k a day increase

This workover should be followed by the Sabria N-2 well workover to recomplete the well (finish early April?). Which will add a further 421 boe/d (approx $12.5k-$16k a day)."

Total should be north of $7m per year income

I would add a couple of extra weeks to what were my proposed finished dates. So mid Feb for first well and end of April for second.

More likely someone moving shares between accounts

That is exactly a question I put to CH with regards to the webinar.
Good to see that the research institutions are still keen to find out more and happy to provide funding

https://twitter.com/ProspexEnergy/status/1600853592503906304?s=20&t=nS_a9vnlI79Q1CLkhpyUGQ

https://twitter.com/ProspexEnergy/status/1600437523838296065?s=20&t=MQMuumPcOHrwETEZngXrIA

https://twitter.com/ProspexEnergy/status/1600426683579891712?s=20&t=MQMuumPcOHrwETEZngXrIA

I may have got the wrong line for N2 then as went with these figures from the presentation:
SABN-3H Shut-in 639 0.4 1,789 1.1 937 0.6 937
Looking again those appear to be N3 (??) unless it is a typo. And as it was a shut in (unproduced) well I assumed that was the one they meant. Haven't found any other details on N2 specifically. Probably best to wait though until it is done and see what the 'real' figures are. My guesstimate completion on that one is around April time.
I finally plucked up the courage to listen to the presentation. Skipped a lot of the financials but yes got the impression that it will be late 2023 if they agree to further pumps. As the partner holds 55% they want to see that they are getting their moneys worth and will need a good few months of pumping to convince them of the flow rates.

Just checked figures
W1 is (a proposed) 796 boepd gross. So 358 boepd net (45%) to Senx

The figures are correct and investors have been waiting a long time for them. Tunisia will see a big material change. When it eventually arrives!

That should be net. Was it 45% to senx? I took them from the presentation.

Yes rig is there. That’s why I asked if we would receive news today… but company still resorts to type.

I did buy some PXEN on their recommendation, as I think you did IG. Doing OK out of them so far.

I'm not worrying about daily timelines on ZPHR this month. January (Or Christmas) for next main ZPHR news. I just know that 2023 will be better than the past year here (for SP) even though ZPHR have been building funds and buying assets during that time.

What is the latest cash position of the company. I'm sure someone posted this recently but cannot find it.
Just doing some basic calcs. Not including any potential value for Egyptian Vulture, Oswig, Kveikje. Wish we'd get some news on them though.

TKIA I thought you sold down your holding in ZPHR earlier in the year to go after PXEN and others. Do you still have a holding here?

They will be making money from whatever they produce from 16-2 during the testing. 'Every little helps' as they say.
36-2 I would expect some testing results February time.

Let's see if there is any news this morning.....?

Current Tunisia production rate is floating around 517 boe/d

The SAB-W1 well workover and ESP installation will take approximately 60 days to complete (end Jan)
This will add 358 boe/d net to Serinus @ $30-40boe net back ($80-100 oil) $10.5k-$14k a day increase

This workover should be followed by the Sabria N-2 well workover to recomplete the well (finish early April?). Which will add a further 421 boe/d (approx $12.5k-$16k a day).

These two wells will more than double Tunisia output. Then hopefully be followed in 2023 by the WIN-12bis which should increase production 750 boe/d. So nearly triple.
That is if they can manage these projects and keep the rig working for them. But could be very lucrative.

Looking at the latest presentation https://serinusenergy.com/wp-content/uploads/2022/11/Serinus-Energy-Corporate-Presentation-28-November-2022-Final.pdf
They mention work in Romania but doesn't appear decisive. They really need to recalibrate that seismic data before drilling any more. Even if they are cheap!

I've measured the area adjacent to the cultivated area and that is approx 90m x 90m. So nearly the same size as MOU-1
The area that has been raked by the road intrigues me and that is the bit I meant didn't look like a pad. The two lines are also strange but possibly to prevent vehicles accessing across the wrong part of the land?? with the access road on the left of that area.
May see the concrete pour on the next pass as I think that this is just ground prep unless they are doing it in stages.
Also, exactly as I said I read the RNS but what do I know.....

With the progress that is happening I think the next satellite pass will confirm

I didn't want to upset the bickering between the different factions but noticed it a while ago.
There are now two lines across the proposed area that seem quite purposeful. Along with some other ground works by the road and near the cultivated side. Not quite how I would imagine a pad to be though.

I have just had another look through the presentation and found this:

'with potential to drill C-9 well later in 2023.'

That is the 36-3 well. So, it does not look as though they plan it as anytime soon (ie back to back drills). Was really hoping that they would explore the overlying layers sooner.

The only mention of the Kirkwood (Wesco) well was reference to 'a oily Cane Creek field'. Still no further details on that.
This and the C9 exploration are on the upcoming catalysts (slide 24) so would currently be expected sometime in 2023.

I think they are waiting now on the 36-2 performance to gauge what to do next with Paradox. I am also expecting further non op acquisitions which could be why they are holding money back in case something takes their fancy.

Srdoddy according to the presentation they have started. No further details as to what they are planning to do though or for how long as very little in the presentation.
We do have to remember that it is development testing and not production. So, they have plenty of information to find out.
I have not seen any signs of flaring on anything so who knows what they are doing.