Member Info for Ezhik

"planned sale of Tunisian oil production". Why not just wait until the cash is in the bank and announce that Zenith are pleased to advise that the sale of the Tunisian oil has been completed and payment of $7.7m has been received. The money will be used for further development of our Tunisia Asset. Anyhow, no response required or expected, just an observation.

Coxonopolis. Putin has already invaded Ukraine 6-7 years ago and has continued to obtain more of the country gradually ever since, but yeah, I would agree that a mass invasion of eastern Ukraine down to Odessa and taking in places like Nikolaev where historically ships and submarines were built would be turmoil. Then if they ally with China and India against 'the west' we're fooked.

Wakey wakey rise n shine. More rubbish grades again then pftttt. :)

Very disappointing for you guys here. I read the news this morning and felt slightly gutted that I am no longer in. Expected the Sp to have doubled on that news but maybe the market is just looking at the 100bbls a day production figure and as 'Thin lizzy' used to say " I don't believe a word".

Cripes, looks like someone has been eaten all the pudding--Steady on Andrea, you'll never make to that excellent retirement that you mentioned the last time we spoke.

Why not get an EV. They have built in facial recognition for the driver and passengers, 'they' can track exactly where you are within 1 metre, how long you stay at any 1 place, who gets in/ out and where and at what time. Your speed and road behaviour can be monitored and instant fines issued with the cash removed directly from your credit account. Voice activation systems record your vocal patterns with the data stored ' Just in case' and 'They'spin it on the basis of driver comfort and safety. fek off, it is just control, monitoring and compliance. Give me a car, an engine, couple of seats, fuel gauge, speedo, heater and that's it. Everything else can go in the bin. :)

Norvern. Me neither. As mentioned by tom, disappointing. And yesh, before anyone starts on the i've bin ere longer than you, it matters not how long, but with the excellent results so far and proof of concept for the basin, the SP is languishing. My first buy was just below 2p--

Blimey MGS. You and I are in agreement!. Hope all is well with you and yours. AAOG drill/rig/team/whatever went wrong never successfully made it through the djeno. They stoppped short, well collapsed, the cement job appeared not to be entirely successful prolly as a result of the well damage/collapse. The whole thing was extremely promising and then it went belly up and everyone blamed everyone else. I always said way back when the AAOG initial announcement came out that a sidetrack would be the best route but there has been talk of drilling through the cement plug and completing the well ( AC alluded to it in an RNS---don't ask me which one ). So--if ZEN ever get their controlling hands on Tilapia then I would hope that they would take the sidetrack option and avoid the damaged lower section entirely. The 'ramptastics' at the time were saying Mengo would produce 5000/day. Dunno how they came to that conclusion even before it was drilled, but hey, ya never know. It's all a bit 'fishy' to me.

12p

Yeah: Thought I did OK yesterday topping up 6500 at 113, was convinced that today would see a small bounce to the blue. I guess the market jitters are a combination of factors, largely superficial but nevertheless painful to the SP for now. Lets be positive about test 3, above the middle section and out of the way of the water trap. Another 3-500bbls at 90+% LCO is where we want to be, giving us around 1000bbls at high pressure coming to surface all on its own and supported by a vast connected infastructure and a huge upgrade to OIP reserves. Another two wells drilled from the same location for the same or more, paid from Royston 1 appears not to be appreciated by the market.

Just wondering how "The Company expects a stabilised rate of production of approximately 100 BOPD" is getting on. There have been a couple of weeks to allow it to settle down to a steady rate. It'll be interesting to read the follow up note.

And--there is something pushing out the 1200bbls of fluids on top of the hydrocarbons. Formation pressure?? :)

Aha. Mr Piler. For info, we are in the process of drilling 1500 x 600mm dia x 30m depth piles in a circle of 100m diameter. Just sayin in case it's of interest. Hope your recent 1m purchase is well timed :)

If the rig is going to Rob etc then all well and good. It will be working on areas with a potentially higher success rate ( with less $$ reward to go with it) and where there is existing knowledge and experience and perhaps less of a challenge. It is the only operational area currently therefore sensible to send it there of course. I mentioned Congo as the rig should be man enough to take on the task, but if that project does ever get past the starting blocks it may be prudent to splash out on a high performing rig and team from a contractor--without trying to do it on the cheap. In any case, Zen would be better tackling it once they have more operational success behind them. Anyhow-not really my business at the mo, just thought I would put my oar in about the rig comments.
Florida _ I say things as I see them, I try to be what I consider to be 'fair'. It doesn't always fit in with the masses but in this case I think MLS was a bit harsh vis a vie the BD260 . If/when Zen get it transported, set-up and operational it will be good to see and I would look upon it as a big positive.

I have a slightly different memory. It is a bit of a monster, supplied by an Italian (of course) company after refurbishment. I think it was a promotional rig at one time that was trialled by some of the oil companies but it never sold. It looks to be a bit of a nightmare for assembly as there is such a lot of it. But, it wasn't useless by any means. My memory tells me that it worked very well once it was finally up and running. The top drive debacle was a serious oversight. I thought at the time that it was not necessarily a show stopper and thought that the rig should have a back up such as rotary table in the event of a top drive failure. I wasn't there ( even though AC invited me across) so I can't be certain about the existence of an alternative drive. I don't recall there being much if anything else that was 'missing' though. - Other than perhaps someone within Zen that had the right knowledge and experience to have gone through the spec for the rig more closely. This rig (just in my opinion) is/was a better option than the BQ500 that was confirmed as being on order but never materialised and was never mentioned again. That thing had disaster written all over it. Nope--I'll stick my neck out and say that this BD260 is not a bad rig and should manage most applications likely to be required of it--especially congo, if that project ever materialises. The ingredient currently missing is a well versed drill crew that IMV is critical if there is to be any serious drilling operations. They did buy a low spec BOP from China--it was years ago so the details escape me but I recall thinking that it wasn't the best piece of kit and god forbid that it is ever required to perform in anger. Operation team in Azer? who knows who they were. There was promise of operators from the Rig supplier to work alongside the Aazer drill crew. Azer drill crew were not exactly dynamic but I got the impression that Zen had little or no choice about them and believe they were provided by SOCAR. Without support from the rig manufacturer they would have been on a hiding for nothing.

This sentence from the rns might help. "By consolidating over twenty separate leases into one overarching land agreement, Zephyr can focus on an optimal long-term development plan for the project as a whole, rather than maintaining its lease position in an ad-hoc fashion.". It means that at the moment their overall acreage has more than 20 separate lease agreements, each with renewal dates and other conditions that require management. This new agreement combines them so there is only 1 agreement for the entire acreage. It makes the admin and management a simpler process. (saves time/effort/cost) Also, dare I say that it makes the whole thing more saleable should the time come.

AGEOS. No dear chap. Not incomprehensible at all, but a decent appraisal. Hopefully adjustable from surface to optimise. Too much pump and not enough oil gives a lot of hot air and cavitation and early wear. Not enough pump and too much oil gives less dollars in the bank.
I agree with the concept that the rod length has perhaps been increased to give greater capacity.
Pawn--I already beat kyle to the 500/day fantasy last week using the same logic. I wouldn't be surprised to see 150 at a steady state though, in which case it would give the company a much needed shot in the arm.

Sharetime must be happy again. Investment has recovered to just about all-square. :) Well done to those that took advantage at 6.6 or so. I was being greedy and hoped for sixpence, hey ho, stick with what I have.

Sharetime. Nobody should be giving you advice about whether to buy or sell. (Camp 1) Some make it a rule that if a stock drops 10% it is better to get rid of it as it may drop further. (Camp 2). Others see it as an opportunity to 'buy the dips'. Some of the longer term holders here are adding, they are in Camp 2. I am in neither camp at the moment as I'm not buying or selling today but keeping a close eye, ready for adding some more, then I will be in Camp 2 . I doubt I will be in Camp 1 any time soon. lol. Psychologically, being under water is seldom a happy place to be and only you can decide how unhappy you are about it and whether you think that this company has the ingredients to give you a profit in the future.

It's prudent to wait and see the income showing on the balance sheet despite whatever production figures are given in any rns. Counting chickens can be a dangerous game with Zenith. However, it is at least good to see some field work going on after a couple of years, with apparent success--using external drillers and rig. Some more of the same at Robbana will help credibility. SP and Mcap have been on an up trend since mid August and this may at last be turning around. Mcap is however greater than the heady days of 12.5p therefore a fairly significant piece of positive news is required to shift it further. 500bbls out of Rob 1 might do it. 20% efficiency at 20bbls a day from a waxed up blocked up fekkd up well could equate to 100 bbls at 100% efficiency and then get rid of the wax, chuck in a new pump and hey b'jesas, happy days plus some indigestion from hat eating.
AGEOS, if you are looking in, apols for not responding to your post, Mrs Ezhik I have been out of the game with Covid for a couple of weeks and only just getting back to some resemblance of normality. Normality meaning our typical state of equilibrium prior to the viral infection. Good fortune to all.