Member Info for Ezhik

RH.
1= None
2= No. Rig hasn't moved from 37 otherwise it would have been photographed and tweeted weeks ago
3= Under negotiation, amending license, paying fees, recruiting, spending money.
4 = Was conditional on continued production at an agreed level. Prob March before news
5= I guess, no interest in unsecured bonds in a company with such a great history and a high risk of achieving any success

Yep, AJW, Zennif, don't really have a use for it, C30 has the covers pulled over whilst they scratched their heads in amazement that nobody is interested in taking up their unsecured bonds. Obviously by that juncture in my last post I had gone off piste a bit and folk should of course take it all as a bit of fun. I have revisited the last rns here a few times and tbh, ( due to the Medes probably), I still find the whole thing positive and perplexed a the daily, fairly significant sp drop. The co does at least have a plan, plans do change as new data comes forward but it is at least a plan. They have technical support in the team, appear to have a decent relationship with govt and have enough cash for this and the next well..at a guess. By then, money should be hissing through the pipes. 30-50m mcap. Price moves fairly quickly here once folk smell the chance of making coin and dare I say, sentiment appears to be moving towards positive albeit only very slightly. I don't give advice or comment on whether it should be a buy or sell, but the SP made it about 8p on the bago agreement, therefore in theory it should return to that figure plus a bit more. Hence why I have kept holding my 25 shares, But who knows what will happen.

Flurry of news to come over the next quarter.
WR51z has reached TD successfully, the well was redesigned following early 3d data and has been tested at a stable 700BOE/day.
The permit to export gas from the gas processing facility via bago infrastructure has received govt approval without intervention from Vlad.
The Bago pipeline has been installed and pressure tested, signed off and fully operational; They have in fact tapped directly into the TANAP which has been recently officially opened for business.
The gas sales payments for gas sales to Bago are now being received, income is expected to be in excess of 10million for the first year;
Permission has been granted for a water injection well to deal with produced water and assist in maintaining formation pressure across the WR license. Production is therefore anticipated to increase initially and enjoy a slow rate of decline over the next 100 years
Two further sidetrack operations are planned for the beginning of Q3, the wellsites have already been levelled and prepped for the arrival of the ZJ40 and a second hand BD260 rig that is surplus to requirements in Azerbaijan. Block are pleased to advise that this rig is in as-new condition and has used just once and has had 1 careful owner.
PH is rowing a dinghy around the Georgian offshore blocks recently awarded to block energy in the hope of finding a previously drilled and forgotten 10,000bbls a day well that a Ukranian barmaid in Wetherspoons told him about.
The share price has hit an all time low of 2p as a result of this fantastic news update.
Until next week then, ttfn. Medication permitting.

There is sadly, nothing to tell, otherwise he AC would be saying it.
Rig sitting doing nothing. Crew of 20 making tea and doing nothing. Italy and Congo deals being worked on but nothing to say of any interest. Money being spent, income dwindling, more cash required soon. Simple as that. I mentioned a couple of weeks ago that 1p is more likely than 3p unless there is something of a breakthrough.

Blue nun at the Harvester, Brentwood high street 1979. Very posh innit.

someone just picked up a million by the looks.

be aware that you might get banned by Admin for posting live L2 info. Have seen it before.

Slice. From what I can gather from the events around 103c, all was going according to plan, they cut through what is known as the 'r' zones and came across several oil bearing zones. This is not remarkable and they may not be commercial. They then proceeded through what is known as the mengo and still all was reported as being well. They went on to penetrate what is known as Djeno and it appears that they were not equipped to deal with the depth of the well and the difficulties encountered. The rig was a pos, and wrecked the bottom of the well. What exactly that means is anyone's guess, but they decided to close off this abortion with a cement plug. They then announced that oil was seeping to surface and the oil emanated from Djeno. They arrived at that decision based upon the oil characteristics. That meant that either the cement job had a poor seal, had cavities or whatever allowing oil to seep past. Alternatively a theory is that the connectivity from Djeno had bypassed the cement plug and found its way into the well above the plug. ..who knows.... so the mooted preferred option is to rea-enter the well as it is, re-isolate the bottom fekked up section and attempt to stimulate the potential r zones and the mengo section to achieve a production figure. The Djeno bit should be attacked from a new well, namely 104.

Realistically Summer time--at a guesstimate. There is however other news to come before gas flowing through the system and monetisation.

Nothing there mate. It would be better to send a message --on the message button :) or cliffie9athotpostdotcom post=mail of course

That is correct Oilno.

No messages received last night or today.

KB. I have a twipper account, Ezhik66 I think, if you are on there. send a message.

it would not be change of course, they have just anchored up and switched off the engine and sent the crew home. They have already blamed SOCAR for the delay in as much as Zen have completed civils work and are waiting approval for C30. nowt happening at c37, plug either failed or it didn't happen. So far, it is going the same way as the other non mentionable wells that have disappeared into the ether never to be mentioned again.

Looked like LSE were doubling up again on reported trades but it seems more like that someone has the shakes and is hitting the buy button twice in succession from time to time. Keep it up whoever it is.

Aj. I have noticed that you have used the word whipstaff on a few posts, First I put it down to a typo but it seems that you have your equipment mixed up mate. You are referring to a whipstock, the conical wedge gadget that diverts the drill bit off the vertical to enable it to cut through the casing at the kick off point for the sidetrack.

Seems to me that the market was expecting bigger numbers and immediate monetisation from well 38 after such a long period of silence. There is also the impatience and unwillingness to wait for the plan to come together. For me, the rns showed a maturity of approach and laid out a reasonable plan to aim for. Reasonable in as much as it appears to be achievable providing bago sort their end and the gas is connected. 6 months could see 51 in production alongside 16 and 38 , plus one more well ( unknown number) in production and another well just about in production or at least being drilled. Each of these wells should give 3m income and well costs paid in a year. So in other words around 10m revenue stream in around 6 months time is possible....I think lol.

Dgj multiply that by 5 and you will be in my shoes.

So far, nobody excited. Surprised tbh.

Make it 50p please. without a consolidation that is.