Member Info for Adon30

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.

· During the test, the well averaged rate-constrained daily rates of 716 barrels of oil equivalent per day ("boepd"), with rate-constrained highs of 1,083 boepd achieved with limited pressure drawdown.

· Initial simulation modelling suggests possible plateau rates of 2,100 boepd are possible when the well is fully equipped and no longer rate-constrained.

o The test was rate-constrained to minimise flow assurance issues from salt deposition in the well bore. Future flow assurance issues are expected to be mitigated when the well's final completion equipment is installed.

· Gas rates are substantially higher than expected, with modelling suggesting the well is capable of production plateau rates of 10 million square cubic feet of gas per day and 500 boepd of liquids.

Unrestricted state 16-2 is 500 boepd of liquids. Unless they have found some way of coaxing the gas into a pipeline that would be a maximum. I’d expect it to still be constrained during the longer term test. Maybe 200 boepd liquids. Unless the gas reduces substantially or they have a plan (although nothing in the presentation still on the elephant in the room).

It was actually September I sent the email. Doesn’t time fly!

I think iis will want to know the same type of information. What, why, when and importantly how much.
Maybe next year for a webinar then once state 36 results known.

Yes PD he may have been busy on the second one I sent as that afternoon we had the tweet appear from CH at the state 36 well. But it was all regarding the presentation and webinar. The questions I asked a month ago were also with the presentation/webinar in mind so they have had ample time to get the information into the presentation. I’m sure there were others on here that sent prior questions across for that as well.
It’s just a bit frustrating that they had an opportunity to provide updates and have skipped the questions that investors want to know. I wasn’t expecting a personalised response but to cover some of the points raised would be nice.

Forgot to add. I have emailed CH twice now without getting any answers. Admittedly one of them I said not to reply as they were questions for the presentation. But none of them have actually been answered with this and still no sign of a webinar.
Someone also mentioned about rns of info being market sensitive. The presentation was rns pre market so new info could have easily been added as the market had been informed.

Apologies for being slightly negative. I did wait two hours after initial reading of the presentation before gathering my thoughts. But glad (some) others feel the same way.
The company should have a higher SP even now which is frustrating. PD also just mentioned the ii holder accumulating. Yes, short term there is a lot of upside with the current drill underway. I would just like to see (like many others) the forward plan and how it will take shape.

Very poor presentation. Already knew all that content.
Hasn’t answered any of the questions on the newly purchased infrastructure. No details on what condition it is in. What works will be needed. How much it’s going to cost and how long it’s going to take. No plans at all on anything.
Nothing at all about the 16-2 gas pipeline application that I found.
With the greentown purchase they actually bought a producible well. Again nothing on what this can produce or what works would be required.
No timescales on anything other than late 2023. They have enough money coming in from Williston to fund so why not let us know the plan.
I skipped all the wasted pages on Williston. Don’t need to know all that. It is not operated by Zphr and is just a cash cow. Cash flow and expected cash flow is all that’s needed on that plus repayment of loan debt.
They covered the short term (which has taken a year to get to) of the 16-2 production and the 36-2 being drilled. But we know that anyway and have for some time.
So basically none of the questions I asked CH have been answered and it’s still at the same point. Bit of a flat pointless presentation and a waste after all this time.

Workover rig not expected until December then, so what I saw on radar must have been something else. Follow up images are showing things floating around the pads in W1 vicinity which is a lot more activity than there has been. Maybe just some surface preparations and equipment movement then. Will let people know as soon as I can see a rig on site.
Output not down as much as I expected. Only around 60boe/d down. With these Tunisia workovers we may not see much of an output improvement until Q1 results at least. And that is assuming everything runs to schedule....
I couldn't be bothered to listen to the presentation not sure if anyone else did

I emailed CH on the same subject a week and a half ago. Was obviously busy in Utah at that time but still no response…..

I've been keeping a close eye on Tunisia.
Something big has just appeared on satellite near to the location I tagged as the Sabria W1 well. I do not think I will get another satellite image of the area before the quarter results on Monday to confirm. However, if whatever has arrived is still there by then I think that maybe the workover rig has finally arrived and they will announce this with the latest results.
About blinkin time!! Considering this was supposed to be done at the beginning of the year. Could improvements to Tunisia production be the companies Saviour?? I'm dreading seeing what Romania's output is down to.

Depends how long they have been building it for. Could explain the price suppression for a while as they built

They announced the rns discovery 3rd Novemeber (over 2 weeks ago). Usually shortly after the rig would have moved off. However, it is still in situe. Any idea as to why it is still there?

Gas pipeline permit went in last week for state 16 direct to gathering lines.
Holding storage, separation and trucking capacity would be the limit on production at present.
They could ultimately run a liquids line to the facility which could then separate water and oil (if not already done at well head). Then they could transport liquids directly to the oil pipeline to the east of paradox.
There are gas and oil pipelines east of them and I'm guessing the facility connects to both.
Really need CH presentation to clarify all of this as a lot of 'could' in those sentences

Interesting that state 16 is being made ready for the longer term production as well at this point. That's a big positive.
I know they are calling it a short term test. But it is going to be an extended test compared to previously to gather performance data. It'll be restricted by the storage capacity and truck shipments available but will provide valuable information going forward.
Everything definitely gaining traction this week.

Now I know what the blue part that I can see is :)
Was hoping for that site update on this one and with so much happening in the area I'm not surprised about management being there.
Imminent for sure! Spud confirmation RNS on Monday??

Not sure if I like sat nav man lol. I try not to use one and when I do I get bored of them speaking at me and do my own thing.

Try soarearth if you are having difficulties with sentinel. You shouldn't need to sign up to anything.
I did sign up to one satellite viewer that has a lot of paid options but never use it and instead get a lot of spam mail from them.
Do not expect quality like google earth. Resolution is about 10m on the free satellites but good enough for what I want to know.

I'd give them a week to set up then maybe a spud rns on Monday all being well. Who knows it could be earlier....

There was no equipment onsite on the 8th so I doubt that very much.
Drilling could just mean active in this case. Plus ZPHR will update the market with an RNS when it has spud.

Yesterday's satellite image shows what suspiciously looks like a rig now at State 36. It wasn't there on the 13th image only subsidiary equipment had arrived.
I couldn't say if it is all of the rig but definitely a big part of it.