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Thanks for sharing this bear. Drilling these old wells and expecting a result is like trying to breath life into a rasher of bacon. This 50-100 bopd is a great result given c37 was producing 5 bopd before hand. Give Zen some credit.

How much oil Is ZEN producing from the 34 producing wells across its property that are being worked over to “maximise production”.
This is clearly and active programme, see Sept tweet showing an oily A-80, and I can’t remember seeing any production figures this year.

I was running recent AC interviews through my head. There's significant optimism that ZEN will reach 1000 bopd by 2020 and then the announcement that we should be in the 20p region. This seems improbable with C37 giving 'up to' 100 bopd. And yet AC is delighted with the result and seems very happy with things on the interview.
But something doesn't seem right. Where does the optimism come from?
I started thinking about the rehabilitation work that's going on at the Muradkhanli oil field with the A 80 workover rig. What is this rehab work? I assumed making sure that oil didn't leak anywhere.... saving wildlife, preventing bush fires etc. I found this paper online about the development of field rehabilitation plans for mature oilfield on shore Azerbaijan.
https://www.onepetro.org/conference-paper/SPE-102667-MS
It's not our field but very near. The paper states:
"Old oil fields with a many years of productions and large mostly low productive well-stock present a new owner/operator with an interesting challenge in defining strategy. The low risk approach is an extensive work over recompletion program to bring back shut-in production and reduce water-cut. However in some cases this can be considered throwing good money after bad with insignificant incremental increase in production. The second approach is extensive infill and possibly exploration drilling to open new zones in the deeper part of the structure or adjacent structure. This is considered the higher risk strategy but the rewards in incremental increase in production can be great, as this could be many times larger that current production of the field."
It seems that Zen are taking the infil drilling approach. See the tweet from 24th Sept below. Now that's a drill with quite a rack full of very oily looking production tubing(?) and yet the tweet was completely overlooked.
https://twitter.com/zenithenergyltd/status/1176427061189255168

So my question to Ezhik - Could the "routine rehabilitation activities (which are continuing) without interuption in the Muradkhanli oil field" have the potential to move the production needle for ZEN?
Indeed is there a mind blowing RNS waiting to be released which will blow torch the fingers of short sellars?

1/ pen hole is a perfectly legitimate end
Point for a well.
2/ AC was delighted with the result on the video. Why not, ZEN have increased c37 oil flows by up to 2000%
3/ In the video AC states that it is
Important to manage expectations so maybe upto 100 bopd is conservative.

Once the rig was assembled with top drive the drill process didn’t take that long really. The new team will be quicker next time and we have the equipment we need. So lets go from one drill to the next with smaller flow rates 100 bopd + 250 next time, + 200 the next. All the time de-risking the project. Maybe add a second rig and have a go at the wild cats on our patch. It’s not get rich quick, but slow and steady with reducing risk.

Upto 100 barrels is a lot better than 7 barrels per day, and exactly the number I stated earlier. Still I hoped for more and suspect there will be mild disappointment within the market. There shouldn’t be given the 1000% increase in production, but expectations have been far too high.
Roll on c30

Love it
The DOW is down more than Zen

Wakes wakey

Huge 1m sell and no price movement.

Interesting

You’re gonna need more plywood for that shelter then

Seems to me that ACs comments are a littles gung-ho, whist the progress of the company is steady and safe; fortunately.
Watch out for de-ramping from sellers, but I think they’ll be buying back in fairly soon.

Please can you help..
Is this a spring water company?

I said is this a spring water company?

Never mind.

Market can stay illogical then correct out of the blue. Good flows from ZEN with a huge block in stable(ish) country with own rig and infrastructure will see this enter the takeover watchlist of a few mid tier companies.
Fingers Xed

I agree. 100-150 bopd would be a start with many more wells to come.
I think someone mentioned 5000 bopd last week! Let’s get real shall we.
Hope it’s more though.

I May be wrong but it looks like C 37 is being dismantled in the background of the video.

I was seduced by the pi interview. Thanks for the honest opinion Mike; I’m running for the hills.

... and the start of the LSE breakout.
Better grab some cheap ones. Won’t be there long.

Bought more couple of days back 3.09p ish - Got 471k now but no money.
Bought a coffee in Costa this morning and it broke me.

Norway has illustrious oil drilling history & knowledgeable investors. They obviously see the potential of ZEN. While we continue to trail I’ll continue to buy.

3000bopd ???
Could the pipe even deliver that much?
I’m going for 100bopd - it’s the first of many drills though.