Malcy's blog21 May 2018 12:39
Zenith has filed its independent CPR up to 31/3/2018, 2P reserves in Azerbaijan are deemed to be 31.7m barrels of oil (32.1) while in Italy natural gas 2P reserves are 16.4 Bcf (15.36). The company also say that there is a new investor presentation scheduled for publication on their website today which will, amongst other new data, show all-in average oil production costs falling from $19 pb to $13 pb when production in Azerbaijan gets to 1,000 b/d. These numbers justify managements faith in the size of the prize in country and are building a platform to produce from it.