Member Info for davwal

Strangely no mention of Saltwash given the commitment well due date of Sep1. Sounds positive otherwise.

I can't see them leaving right before a value-creative farm out deal. So, given they have inside knowledge, it suggests nothing is about to happen. We'll see.

AOI can't think much of ECO's assets either.

The well is supposed to be commenced by September so there’s got to be news on that front pdq. So yes, might be positive developments imminently given the tight timeframe.

Honestly is best. Connectivity remains in doubt but there is at least hope of quickly rectifying the problem. Painful though.

The well is in good condition and initial flows are encouraging. This is very good news in my opinion. The word encouraging is a strong signal.

I think it’s all about practicality now, not data gathering. They have to treat the well based upon what they find. It is, after all, difficult geological terrain. Slow and steady hopefully brings home the bacon, rather than undue haste rendering the well unproductive. Not too much longer…

Contractor moderates clean-up process rather than screw up the well. Sounds fine to me.

The furnaces are now a major concern to me. They are fundamental to the business and if they are unreliable or just unsuitable, then what?

In the circumstances, we are due (and I’m sure will receive) an update by the end of June:

The Agreement includes a provision that the Commitment Well is to be spudded before 30 June 2024. The Board believes the Company can begin initial drilling operations to fulfil this timing obligation, and alternatives to extend the deadline may also exist. To date, the Company has received multiple informal proposals regarding potential funding for 100% of the drill at the asset level, and the Board is currently considering the best alternatives to maximise the value from this exciting opportunity for Zephyr's Shareholders.

Now they are scrapping furnaces - hmm.

In effect they got a free go. That they chose to hit virtually the same point, rather than take the opportunity to point the drill elsewhere, says a lot to me. I'm pretty sure they have good reason to be extremely confident about the outcome.

Looking lively again. Speculating, but I wonder if there’s upbeat gossip leaking from within concerning improvements to production issues?

I’ve been in and out over the years, luckily avoiding the disasters - and now back in. A decent replacement for Bundred will do wonders here, together with production problems genuinely showing the slightest improvement.

One thing I’m very sure of is that the Moroccan authorities don’t do flex. The end date of #4 will be as previously written in stone.

I’d guess Sefton82 relates to the famous Household Cavalry Regiment horse terribly injured in the dreadful bombing by the IRA in Hyde Park during 1982. Sefton recovered, whereas four unfortunate members of Blues and Royals died, together with several horses.

My understanding was that MG-W did indeed advise ONHYM - but for the catering requirements...

Given no mention was made in the extension ratification RNS regarding ‘necessary regulatory approvals’ referred to in the 20th Feb RNS, are we to assume they remain outstanding? (As per paragraph below). Maybe they could only be applied for once the extension had been ratified? Might explain the lack of a promised time framework update so far. If so, and given how long the bureaucratic process seems to take, that could make planning awkward. Hopefully there’s an update this week.

Mobilisation of the Sandjet crew and equipment will occur shortly after Petroleum Agreement Amendment #4 has been ratified and all necessary regulatory approvals for Sandjet rigless testing have been received. The time framework for the Phase 2 rigless testing programme will at that time be updated

While we the proletariat argue amongst ourselves, the simple truth is we are kept in the dark by PRD about stuff that is both current and overdue - certainly material. I detected an element of chip-on-shoulder narative from the minimalist rns relating to the extension update. That was an opportune time to relay a proper summary of the state of play covering operational aspects in Morocco. Its not a personal play thing, it's a public quoted company that has a basic duty to keep shareholders properly informed and I for one don't think that has been fulfilled given the obvious impacts of Moroccan beurocratic incompetence and in-country equipment sourcing obstacles. If the company provided reasonable updates in line with most of its peers, the constant speculation would be redundant. I therefore believe our management enjoy the power of withholding basic information - whatever their motives.

If the chosen strategy is to now use OHNYM’s old banger, that’ll be interesting. Still if it could start before the extension runs out and eventually reach TD, then bring it on!