focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I think you may be mistaken - approx 21mins 15 seconds into the interview AC definitely says 300bopd production.
They'd already cut the tubing at the freepoint. They have now cut the stuck tubing and are pulling it out (twitter) ? Doesn't that mean there still has to be be some of the tubing in the well (as they've cut it) ?? Or have I misunderstood ? Any ideas anybody ??
Hi AJ - Workovers at depths of 350 - 750m are much easier and quicker to work. Hopefully they are not in the condition we have inherited from the Soviets in Azer. Unsure how old the Indonesian wells are but given they are still producing in excess of 1,000bopd reasonable to assume they are in better condition than Azer - IMO.
Agree Ricky. Assuming we can maintain or reduce the $18 production costs ZEN will have recovered almost $7 million in the first year excluding any increases from workovers or new wells ! What's not too like ? Very interesting indeed IMO.
Hopefully on our way back up, lots of buys today and the Ask is back to 7p - been a while, be nice to see the end of the 6p's for sure. Onwards and upwards IMO.
Our neighbours are expanding their resource with some pace as shown in RNS of 11/04/18. Jealous of their communications and SP (up over 10% yesterday) - think BA could learn something from them and start talking about resource estimates and produce RNS's of this quality, given the amount of work that we are apparently undertaking ? http://birimian.com/pdfs/FurtherSuccessfulDrillingResults11Apr18.pdf
Their logo is in the exhibitors section - try the link below:- https://www.ukinvestorshow.com/tc-events/uk-investor-show-2018/
Yes, good to see and the majority of the buying has been since today's tweet. Well done Zen - communication can be a huge positive !
Awesome - comms overdrive for sure !! Fantastic to see the production tubing been pulled, I'm no expert but would imagine the start of pulling the tubing would be under the most load ? Gently does it - hope the vids keep coming.
Just been posted - see below - Malcy likes the look of the deal. Zenith Energy Zenith has announced that it has entered into an option to purchase with binding exclusivity an oil production asset located in Indonesia. The proposed acquisition envisages Zenith acquiring a 100% WI in an oil production licence which contains two onshore blocks totalling 65 sq kilometres. The licence produces in excess of 1,000 b/d which is transported into the national sales system at an all in cost of $18 pb. The production comes from just one oilfield and the second field is �expected to be capable of significant production by drilling new wells and performing work overs on existing wells. The company are now undertaking due diligence after which it has 15 days to exercise an option to complete the acquisition for $6,600,000 payable in two halves. As to funding the purchase Zenith is considering � a number of funding options� including debt and equity. It is clear that Zenith are moving ahead with their oft stated intention to acquire value accretive properties to �enrich its portfolio� and this certainly looks to fit the bill. Indeed it looks like this potential deal is cheaper and easier to produce than in Azerbaijan so should complement the programme there. Having over 2,000 b/d from the region by 2020 will undoubtedly make Zenith quite a force and considerably add value for shareholders. Indeed, Indonesia is fast becoming the preferred post code for companies looking to add efficient barrels to their portfolios.
Thanks Sentamentalist - great find. Looks like AC has been ahead of the game given the 'direct offers' concluded yesterday 27th March.
And me. Achieving some sort of success from our Z wells is paramount but undeniably I believe new wells in Azerbajan will be the way forward once we get our new drilling rig - these old Soviet wells appear to be in very poor condition. Indonesia deal looks good on paper if it stacks up with due diligence - to be a mid tier player in O&G will require acquistions, debt and dilution all good for long term holders in my opinion.
I much better contribution from John Meyer (spent 2 hours with BA recently) not telling us much that we don't know apart from we will be producing a more profitable lithium concentrate than our neighbours because of our superior spodumene ? Unsure where he gets that from (cheaper processing plant because of the quality ?), sure our grades are similar to BGS and given the proximity would have thought the metallurgical testing would produce similar results ? Overall I would have said it was a lot more forward thinking, actually talking about mining - more positive and more of it please. Appreciate some feedback from the podcast to see if I have/have not interpreted it correctly ? All IMO.
They are starting scoping study to be finalised end of Q2 with Feasability study later in the year - certainly not hanging around ! There grades are not great and use a 0.5% LiO2 cut off. IMO www.investegate.co.uk/savannah-resources--sav-/rns/scoping-study-underway-at-mina-do-barroso/201802280700031340G/
Recommended.
Completely agree I3LIP - great post. As you say the assay values are world class, consistent and the prospect is scaling up to a large asset - they just need to prove it up with a PFS/JORC. No matter what our reservations are with communication and the BOD - we own part of a huge lithium asset that is scaling up - hopefully one day the sp will reflect it's huge potential ! IMO.