Member Info for davwal

ZPH on X

At the State 36-2R well, casing has been run and cemented, and the Nabors rig is in the process of demobilising from site. At that point, the pad will be prepared for the upcoming completion & production testing operations. We will provide further updates as operations progress

Setanta1, perhaps you could explain why the sp would be of concern to any prospective farmee?

Not much meat on the bone so far, but no bad news either. When the vertical was drilled there was an update about initial testing, so maybe that’ll be the case here. Fingers remain crossed.

Remember, there is the acid treatment to complete immediately drilling completes. It’s apparently an unusual technique on a long horizontal, so it requires great care. I’m sure all is good and there’ll be an update before long.

Presumably they feel it would be far better to update the report after completing the lateral extension, on the basis the resulting data sets would be of significantly better quality and therefore more reliable when forecasting the prospects of the wider Paragon. But they should have still said something, not just leave a void.

From ZPHR on X

And we’re up! The B29's derrick is now fully raised, and it’s been impressive to watch a great crew at work.

Now that the rig is fully assembled, the #ZPHR and Nabors crew will move to equipment testing and commissioning prior to commencement of drilling operations. Stay tuned!

From Zephyr’s X feed 15 mins ago:

39 truckloads of equipment have now arrived, all supplemented by one great crew! The Nabors B29 rig has mobilized to site and is in the process of rigging up - we look forward to spudding soon.

Global petroleum - GBP up 53% following RNS announcement of potential farm in at their patch of Walvis Basin. Hope to finalise by Christmas.

Wasn’t it Helmerich & Payne for the re drill..

Well partner sounds like a done deal. Sounds like winter ops is less of an issue given the vertical is already there. All sounds good, but sp continues to behave like the well came up empty. Go figure.

Having got this far, I’d like to see the lateral completed asap, if they are that confident of the outcome. Makes sense to market from a strong position as possible. Meanwhile, I wonder when they get the insurance monies.

My view is that the acid process achieved the objective.

I’m curious why there’s been no mention of establishing a data room if CH is actively seeking a partner or farm-in deal. Data rooms are fundamental to the marketing process and generally companies announce when one has been commenced.

CH did fine. It sounded like a pretty small audience, though, and he seemed to know most of them!

A farm-in only buys into the asset(s), not the company. Therefore, there is no direct effect on the sp and accordingly it isn’t being manipulated. A potential M&A situation obviously would cause the sp to move - be it up or down depending on the circumstances. There’s just a consistent seller here in a generally low-interest stock.

There are four significant players in the Cane Creek area; Hunt Petroleum, Intrepid Oil & Gas, Wesco Operating and Fidelity E & P. There are many other operators in Utah so the chances of a M&A scenario would seem good so long as the Paradox data looks commercially promising.

There shouldn’t be any sensitive information released during the presentation, but CH’s demeanour and narrative could indicate his degree of positivity about the testing outcomes.

At least CH is still looking forward to updating the market in due course regarding testing outcomes. Give me a straw and I'll clutch it...

Fingers crossed they’ve achieved the objective and there is decent connectivity.

Someone still offloading shedloads regardless.