Member Info for Ezhik

Have they actually started it?

Jonesy. They do at least manage that, yes.
As we are never satisfied though, an update on arrivals of said equipment at C30 would be nice--or maybe not when we see how much bl**dy work there is in moving this thing

It went elsewhere :)

Well, it was reasonably exciting over at Kefi this morning. Small punt at open, 60% profit taken. Prob sold too early but wish I had this Zen money in there at 08.00 instead of a measly 1K.

I believe it to be baloney the same as anything and everything that the boss says. Pathological liar.

Mud system disconnected ready for transport, mast down, various containers already moved, progress being made at least. Team looks/appears reasonably efficient along with the civils guys.
Will be interesting to see if they transport the superstructure across in one piece or strip it down. Yanks put the whole thing on a truck with a specially designed support frame attached to the bed of the truck. Quite a spectacle it is.

Thanks Mr H. Mast is stripped bare and ready to go.

Indeed, the agreement has been long awaited and has been a key issue for me...mentioned a couple of times before. Previous info indicates 6 weeks for bago to connect up, in time for the gas from 38 after testing and flaring it.

BHP? :). Wassat then Mr H.

Buys coming in this morning, not exactly a flood, but buys nonetheless which is good to see. Still bargain basement mcap no matter how one looks at it.

Correct. 7 days, you could drive on it but it would be sensible to protect the surface to prevent scuffing. 14-20 days before I would risk hundreds of tons sitting on it with vibration and shockloads to boot. Rig move according to AC would be 3 weeks. Bearing in mind they haven't said that they have started moving it etc, we can pretty much forget November unless they have dismantled the rig already and are ready to start transporting equipment across. Looking towards some perforation news over the next week and further confirmation of ongoing workover s and well maintenance.

Concrete curing makes no difference. Rig needs to be dragged across from c37. That's the reason for the two Ladas.

There is a red trade directly afterwards for same amount though.

And the mcap is still half that of Block Energy. Main market, more reserves, a large portion of the plot not included in the CPR, a large lake area unexploited but Mid-Eocene runs straight through it, Drill costs less than block, own equipment and flexibility of operations, SOCAR on board, Long term debt being structured, Producing somewhere around 500bbls a day more or less ( hopefully more--probably less) lol. Anyhow point is, even with their CEO making an equally awful job of it as the Cat has at times, they are still double our figure for no apparent reason. ( I know they raised a wad of cash and it is being spent). MATD--well--one day they will get orl out of the ground but they still have a larger mcap than Zen, AAOG? I nearly went in there recently--maybe should have, looks like things are improving but I don't think they have a renewed licence yet (not sure tbh) so I stayed out. Point is price is still a bargain here for all to see. Should be 6-7p right now if using the others as benchmarks.

Not really.

Little earn. Thanks for that link, I had been searching through the 2019 presentation--wasn't much help lol. Toe already dipped, timing was not so cleaver this time and only for a very small sum.
Anyhow-I think I get what they were saying which is kind of what I deciphered. Casing run and cemented up to the point where it runs horizontal. Their expression 'bottom of the well' meaning vertical depth as opposed to the end point of the well (which they are still drilling). That horizontal will probably be completed faster than implied in the rns, they will be taking it carefully I expect but two weeks was a cautious timescale. I would not be surprised to see news early next week on reaching the TD. It will be interesting to see how they complete it this time and whether the slotted liner will be used or casing the full length and perforate. I think AJW mentioned the slotted liner again. Anyhow ATB, money to be made over then next month here.

Hi Earn, you refer to a PDF? Is that on their website as I haven't seen it. I was confused by the words ' are drilling' and 'have cemented to the bottom' . I.e it can't be the bottom if they are still drilling, but it could have been the bottom of the vertical/ curved bit, before they run horizontally. I am probably being a bit dull and a PDF would help. Thing about the gas is/was, that the gas from 16az was supposed to have an annual value of around 1m dollars and bags would be installing a low cost gas collection system to enable that million dollars to be obtained. This is entirely different to a major gas production system from the anticipated gas wells later on. Presumably a similar million dollars should be available from 38az if there is a simple collection system. Also they (block) can't produce oil without finding somewhere for the gas as flaring is limited to testing the well only ( I think). I'll have a look for that PDF you mentioned to see if makes sense. Atb earn,

I don't quite 'get it' they are drilling horizontally, I.e. In the process of drilling. They have run the liner to the 'bottom' of the well and cemented it. So presumably they mean bottom of the vertical or to the end of the directional section but not the horizontal ( if they are still drilling it) which sort of indicates that the horizontal will be another slotted liner. I also don't get the bit where they say they are running horizontally above the production zone? Surely they should be horizontally through the sweet spot in the middle of the production zone. Or they mean vertically above the production zone.

Dont forget, they still need the bago completion of pipework to deal with the gas produced before they can actually produce the oil. Short term flaring allowed only during test. They would have to shut it all in and await for a gas pipe to enable production. Still no info on this, hence why I suspect no current production at 16 and 38 can be proven but not monetised other than that produced during test. They need to get a move on with top sides gas handling arrangements.

It was fairly obvious to me that they would need a little more cash for current work, I mentioned it a week or so ago. It is true to form. P of placement is just below 3p, plus we have another month of waiting for C30 to start. Lets hope there is some joy after reperforating the unknown Murudkhanli well.