Https://www.malcysblog.com/2024/04/oil-price-ujo-zephyr-deltic-hunting-eog-and-finally/
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Oil is going up at the moment with predictions of $100/b next month. Good timing for long termers here.
https://www.telegraph.co.uk/business/2024/04/13/markets-brace-for-oil-hit-100-saudi-slashes-production/#:~:text=Oil%20prices%20are%20poised%20to,first%20time%20since%20summer%202022.
They have already discovered a huge quantity of oil, faulty equipment replaced, best rig and crew for the job to control the well pressure. The sp will be multiples of the current price if all goes to plan so it's no wonder the it's rising.
Https://twitter.com/ZephyrEnergyPlc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
More good news as Zephyr announce the start of the drilling operations at the Paradox Basin well 36-2R. The spudder rig having been mobilised and doing all the necessary preparation work for the main drilling rig arriving in mid April.
Not much to add I know but it is good to see such regular updates. At 3.74p the shares are up 17% today and have nearly doubled since the turn of the year but enthusiasts should remember what they were before the operational difficulties and quite what the upside is at Zephyr.
My confidence is undented and my 20p TP remains intact, my confidence in the Paradox Basin is still extremely high and the management at Zephyr amongst the best in the sector.
Https://www.malcysblog.com/2024/03/oil-price-zephyr-and-finally-2/
This reminds me of the 'good old days' of 2020/21 when it went higher and higher almost every day. Now we have the best rig to withstand the high pressures and by all accounts, the best drill team. The oil has already been discovered, what more could we ask for?
Good luck all.
And so Russia can constantly re-arm, overrun Ukraine and take on Europe if they wish as they have big oil sales in India and China which makes a mockery of sanctions.
Anyone here buy anything from India or China?
I never saw ZPHR say the two drills cost the same amount. Obviously, there may be some extra costs this time around that were not factored into the previous insurance policy. For instance, they may have opted for a rig contract that costs more as they and the rig company have put in place extra safety measures.
Fortunately, the company have the non ops which produce hard cash.
CH does actually say there will be news regarding Paradox drilling in the coming days, not weeks or an obscure future timeline, but in days. We know there is oil there and this time they have carefully planned for the expected high pressure. 'The early bird catches the worm', is my stance on this.
It was good to see the bad weather had little negative impact and that operations were moving ahead without delay with the site preparations have already begun. More news in a few days! No more waiting for months for a follow up RNS, no, this was a, 'get ready and fill yer boots RNS', is the way I see it! So I added 400k.
'Additionally, Harrington elaborated on the company's preparations for an upcoming drill in the Paradox basin, including the completion of an intensive planning process and the finalisation of rig contracts. The company anticipates drilling in the near term and is preparing the site for operation.'