focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Many here appear to be under the impression that Zephyr can control the data from these wells. The data will come but normally from official releases which are around fortnight after the end of the month. We are minority partners and rely on the operators to provide data. That said CH should have kept quiet about the release of data that he has no control over.
It would appear that the six wells are
LOON FEDERAL 5-24-25TFH
Loon Federal1-24-25H
LOON FEDERAL 2-24-25H
Loon Federal 5-SLTFH
VIXEN FEDERAL 1-5LH
GENESIS 2-13H
The first, forth and fifth appear to have had some production testing on September.
Names from April presentation slide 12 of 31. Production from pages 48 and fifty of spreadsheet.
Acknowledge both Duff 55 and Bridgedogg1
All the best to those who can attend the meetings. Thanks to all of those who have attempted to avert the catastrophe of the actions of this board who have capitulated all responsibility towards individual investors.
Can be done on the app. There is a message button on the summary page. Done online. Response very quick. Confirmed. Impressed with speed of response.
Lodged against.
Let us suppose that the contract to refurbish the gas plant was underway. Also the preparation for the pipelines was nearly complete. At present 16-2 is still being tested and may have problems yet to be determined and resolved.The blowout at 36-2 has shown great pressure and needs further testing.Suppose both of those problems were insurmountable.We would have infrastructure without condensate or gas. Perhaps the results would be catastrophic and shareholders would be rueing taking the chances. However, the non ops are still funding the paradox development and perhaps the sequential developments are the safe choice as careful stewards of shareholders funds. We would all love the rapid returns but this is not a simple area to work. It is a new play and perhaps the sequential approach is the more appropriate.
11 million from UK Gov.
We need to realise that the Paradox is not easy to drill. The oil has been known for many years. There have been many notable failures over the years and some successes. Raising the issues of the salt is fair and reasonable. However, this has to be balanced with the new technologies and the data available now. There is no doubt that a degree of consternation is caused by the lack of Data/ reporting by Zephyr. The delayed updates are frustrating and the missed timelines also are a worrying aspect. However, the known problems maybe overcome shortly.
Perhaps the delays were signalled through previous RNS.
21/12 re 16-2. Conclusion of testing will lead to production data.Rate is increasing and stable.
19/01 36-2 substantial hydrocarbons. Further announcements after additional analysis and selection of operational path to complete and produce the well. Allied to this funding was obtained to support this as seen in another RNS.
On top of this an RNS to show directors taking up options.
Work being done on negotiation for the gas plant and pipelines.
Quarterly update is due very soon.
Work on first tranche of remaining Paradox is complete.
Drill planning and financing for March drill with Kirkwood.
Perhaps, understandable that delays occur as some of these take time and that is without the weather and unexpected drilling hazards.
The RNS was due about this time. If nothing it does show that progress is being made at a board level. Hopefully, there is more progress soon on both wells. Also due are the projected projects for this year. Also the promised update. Plenty going on but not public yet.Wecan all hope that a flurry of news is due.