Member Info for Adon30

Equipment starting to appear on Well Pad. Still bits at Canar-1 but slowly moving

How Much Energy Will the World Need?
https://www.youtube.com/watch?v=wDOI-uLvTnY

The bit about the ‘cloud’ got me more than the other data centres.

The question is, was the seismic good enough from earlier in the year. 10 days for over a 100kms. Did they rush it as weather was bad? Has it not been processed correctly or misinterpreted?

“ The two prospects to be drilled during this operation are the Canar prospect and the Moftinu Nord prospect. The Company's recently completed 2D seismic acquisition program has confirmed the attractiveness of these prospects.”

Yes they found ‘residual’ gas but the formations were not suitable for substantial commercial gas. Need to stop paying the CEO, CFO and COO mega money and spend it on employing some better geologists. How many times have they got it wrong now?

Tunisia needs to be progressed rapidly as Romania prospect is not looking that great anymore.

Still more research vessels around Oswig/ Deepsea Stavanger. Amazon Conqueror and Shannon running just North. Also Mainport Cedar going out to the same area.

And what social media have the updates been on?? ......MySpace?!?!?!?

Just looked and it is right around intrepid doing north south passes and now just south of it. Was doing east west passes the other day.
A good result from Oswig would be nice

Was to the north of it when I looked during the week.
I only clicked on it because it was so close as thought it was just another supply vessel to begin with.

Beat me to it PD. It only set off this morning.
I'm hoping this next move is to Copernicus

I was also wondering whether they could reinject the gas into the well. Although I think that would need a separate well bore.

Anyway. I'm not sure why they are so worried about flaring with what Russia are doing with $10m a day of gas:
https://www.msn.com/en-gb/news/world/mystery-over-russia-burning-dollar10m-of-gas-a-day-in-huge-flare-close-to-nord-stream-1/ar-AA1178lD?li=AAnZ9Ug

The May Webinar presentation from around 15 minutes talks of the pipelines. When speaking to CH before, a long time back, he mentioned that there were gas pipelines and infrastructure in the area. Just wasn't mentioned at the time that it required a refurb.
So 16-2 has a 6" pipeline that is 5.5 miles from the processing plant.
36-2 is 1.72 miles from the processing plant and there is a line marked on the presentation where this is or could go.
The dominion 16 " pipeline is being refurbed to the processing plant so those timescales are with them.
ZPHR have the option here to either lay new pipelines (and at the same time they are likely to do the water pipelines as well). Or refurb the existing pipeline if it is serviceable. From what I understand as it has been abandoned/unused for so long that the certification expired. Expect this would need similar checks to a new pipeline and some form of leak and pressure testing with liquids/ inert gas. If the pipe is a buried one and has an issue then they would need to dig it up to rectify. Where as new would be tested above ground before being buried.
As this is an old missile test site there should be minimal environmental impact with installing new pipelines but they would still require permit approval by BLM.
So as for condition of existing pipelines we need to be informed by the company and as for the main pipeline that is in the hands of Dominion.

Apologies for the waffle....

Gas. Truck. CNG

Yes it can be done. As I’ve said previously. Depends if there’s a market and equipment available. Possibly as costly as crypto though.

Bit busy now but will see if I can look at other stuff later.

The new MD (measured depth) of the 36-2 is a whopping 20456ft. That includes the vertical part. So will be a lot of drilling.
I think they managed to pry the extra land acquisition from the owners with the fact that they were able to get this new area drilled in short time. Thus proving it and providing royalty payments to them within a short time scale.
Hopefully the drill proves this new area and satisfies the 25% owner that any contractual obligations of the purchase are met.
There are no ‘extra’ wells. Although from the 36 pad they could have a dozen 10,000ft laterals into the cane creek or overlying layers. Same with the 16.

Any progress now will depend on permits. Fingers crossed that they are not far away.

Drill 3 weeks in and should be coming into the PAY zone
Short week next week with no LSE Monday trading

BLM Environmental Assessment. Last update - yesterday.... 24th

https://eplanning.blm.gov/eplanning-ui/project/2021225/510

Was on about the length of time needed to source the items for drilling. Such as rolled steels and items for drilling muds. Not to mention Rig lead times. Oh, plus you then need to find people to drive the trucks to deliver the stuff. Everything is crazy and the prices are crazier.
So many exploration companies are finding huge increases in costs and wait times. It is industry wide. And if you didn't order it before anyone else. Don't expect it anytime soon....

As for permits. At least in Utah they are not dependent on a drilling window like Alaska. There a couple of weeks delay on a permit can make or break the entire season.

If they are ditching Crypto then I would like to think that they have also ditched those people from the pay role as no longer required. Would be better spent on project development.

From the 36 pad I think they will only get the one lateral complete and tested this year.
As the 36-3 is from the same pad/ vertical into the overlying layers I would think this will get done in the new year. Once they get the Federal approval. They still need to make sure they have all the long (long, long, long, long) lead items. Book a rig. Prepare the pad. Get a rig to the pad and set up. Drill the vertical and then drill the horizontal. I would think drill time you are looking at 10-12 weeks alone. Then there is the testing and then depends how thorough they are. I.e. if they perform DFITs etc

The third well was supposedly with a partner in a different area. Not much mention of that recently. Unless they are having difficulties also with permits and equipment for that one. That could be done in parallel to anything at the 36 site.

They are still raking in cash from non Op so there is no need for the SP to languish.

A little reminder:
"Zephyr reiterates its previously released 2022 production and revenue guidance of an expected US$35-40 million in non-operated revenue, net to Zephyr, for FY 2022 based on a forecast production range of 500,000 to 550,000 barrels of oil equivalent ("boe") for the year."

Even with future well declines that cash flow is not going to stop any time soon. They still have production hedged for the next 21 months. They have additional wells to bring online in the next 6 months also.

I'm surprised that they haven't looked at the CNG route... unless there is no market for it. PRD are planning to get gas to market using a 10 mm cfgpd CNG project. This can be running in a matter of months.
Would depend on local off takers for ZPHR

I was never keen on crypto but it would have served a short term purpose. Would much prefer an overall development plan even if that meant a few extra months. It is not just the gas that is an issue they were also working on requirements and processes for getting water to the sites efficiently. Getting all this set up will take time. Hopefully they have been using it wisely.

LSE appears to have blocked the Twitter link because it had ‘D talk’ in it.
Only just noticed.