Member Info for Ezhik

Interesting and extra 100m horizontal. this section drilled during the period of obtaining 100% control. I just wonder whether the extra metres drilled was designed to 'take up time' to enable the ownership deal to be completed.
P.H will be very excited about this news and rightly so, no doubt there will be plenty of media coverage.

Yep, good news there. They are at least doing what they say they will. CEO seems fired up and on a mission. Will have see how it flows but so far so good mate.
I do also believe (probably misguided) that C37 will be a big success here for Zen. The amount of effort and focus on it so far indicates that there is a high degree of confidence. We will find out fairly soon. ATB

Belles. Your statement is incorrect. The blockage has been removed and the well is due to go on test by month end --ish. The blockage has been removed to a depth 147 metres above the previously perforated zone. It doesn't say that there is 147 metres to remove.
There is a huge CC caveat in there though, that is that the casing and tubing may be damaged which leaves the door open for further delay/repair/another side track/whatever---or it may all be jolly fine and there will be 5000bbls a day heading outwards and into the awaiting bucket sometime in April. News that the well bore has been logged/tested/ pressure tested scanned, measured/polished would be good over the next week or two.

When you compare: we are already producing about 250/day. The Reserves 'guess' is huge and we have acquired our own rig and equipment therefore drill costs will be low going forward, have negotiated reasonable loan and debt deals and about to embark on an exciting well re-work etc then the price is half what it should be right now. Either that or AAOG and BLOE, MATD etc are hugely over priced. Take your pick. :) or buy all of em. !

Who knows mate. Estimates are what? Guesses based on ? Russian data ? Seeing is believing. I take no notice of ancient Soviet data or estimates based on alleged previously announced ahem flow rates. B.S most of it. I would tend to believe new geological survey, proof of pudding and barrels in the tank. What is or maybe in the ground is academic. The positive here is that the entire area has been chucking out oil for yonks and there is some left down there for us. Tech changes make it in theory more attainable, Zen should be able to make money. They do need to think of themselves as a goldfish in a pond as opposed to Shell or b.p and wind their necks in wrt to overheads and lingerer neds and other useless drains on funds. Get rid of 70% of the payroll. Pay nowt till we reach 1000 bbls and see how quickly we get there. Open your purse, get buying, Price will increase from here, don't worry about all the other sh!Te.
I must get to the chemist, medication is running low.

Finding it is not really the issue. Obtaining it seems to be illusive. Same issue across many junior oil companies. See RMP 6p to 0.6p in a week. AAOG cannot yet get any oil from their alleged multi zone well. CASP have been trying to get deep oil for 6 years from their wells and have managed to get everything except the actual rig stuck down a hole somewhere. BLOE are sort of doing OK but slower than expected. We are not alone. One major success and any/all of the above will be heroes. Another 6 months here AJ me old mucker and all those low cost top ups and averaging down will either have been a stroke of genius or a right C*ck up. C37 and C30 should be up and running with enough cash coming in to fund another world trip, some new suits and banquets at the Ritz---.

LOL Badger, thanks, so do I, that's where I heard his name. He must like the region. Same geology across in Azerbaijan, same old soviet wells.

Who is he anyway. I have heard his name somewhere else but cant recall.

Thanks

I am sure that we will all be appreciative of your analysis and view on the potential. SP is a little dire and could do with some cheer.

If you are still here--then that's encouraging and probably says it all really. ATB

Ahh, now that would be a problem. !.

I was suggesting ( dare I mention another stock on here) that you have a look at Zen. They have Fekked up over the past year or so, have done jack ships on the ground, confidence lost, credibility lost. SP depressed as a result of all of the above. In the last week sentiment is starting to change, they are about to set up their own rig on a well deepening venture, there have been some very large buys recently. Price will no doubt increase from current level. I have no comment about their technical ability or whether there will be a huge, average or poor result from the exercise but the start of rig construction will be a bit of a milestone after a very long wait and will no doubt give an SP boost. So too the run up and start of the drill work. After that I dunno, but of course, Do your own research, make your checks and measures etc. looking for about 5p from 3p currently. That's it really, apart from the fact I got a bo**ocking from my mrs spending time on here on Saturday sending a message to a stranger when we should have been going shopping, and after all, you couldn't receive it. lol.

Something stirring. Volume has increased over the last 4 trading periods. Someone thinks they know something, or maybe there is an rns logged to answer the questions sent into the company re licenses.

Fizzy. I sent you a P.M over the weekend. Might not need it now it CASP is coming out to play.

Its the dog that I feel sorry for.

I don't believe there have been any problems other than confusion over the meaning of the expression T.D and the words 'start the horizontal section'.

Drilling a horizontal has to be done slowly and carefully so as to prevent destroying the curved sections. There does however appear to be a light variance in dates when the horizontal had started or was about to start. It is possible that once the Vertical depth was reached they may have pulled out of the hole to check/change the drill bit and then have to run all the way back in. The expression starting the horizontal could mean the point they pulled out, the point they started running in or the point they started eating away at rock. 3-4 days between pulling out and starting to drill would be about right which may account for the variance.
This is of course guesswork and a possible explanation of what is perceived as 'problems'.

The expression nearly at TD could have meant almost at the vertical depth, beyond which the 400m horizontal needed to be drilled or it could mean that the TD in terms of the overall length of the hole is nearly reached in which case drilling would be almost over. Folk (including CEO's) mix these two up, the vertical TD should be called TVD, the overall length of the hole TD.

In our case TVD was reached a week or so ago, TD is almost upon us. Then comes testing, completion, stimulation, optimisation and official flow rate. End of April at a guess for that. Initial flow, potential and tweet updates before.

Ageos. Apols for tracking you down. Just curious as to whether you are keeping an eye on Zenith and what are your views on the upcoming attempt at deepening C37 over there. If you are up to it, pls post on the bb for Zen

All, Apols, but no other way to ask. :)

lol. Most have managed a duplicate message but a 4 bagger?

We have had a few over the past 3-4 days, they always say follow the money. Pity I don't have any left but if I did, it would be the time to pile in. We could see 4p next week,

AJ. The 260 is the rental rig. We have been through this already. Zenith Arun are hiring it from Zena drilling. A100 is being converted to a fire engine...it was already painted red so it seemed like the obvious choice. BQ 500 can stay where it is, we don't need or want it thanks. A80 is currently drilling for copper, lithium and other rare earths. In the meantime, lucky folk are loading up in readiness for kick off as the only way is up from here.

Just before I read your post I wrote down £74m and put a circle around it. Very optimistic valuation based upon home grown orl. Having said that, the SP will no doubt rise from here until Christmas. lol

Flow rates likely May/June IMV, bit of a wait but will soon tick by. Equipment early April if it is not delayed, then setting up then conducting frac, then water/fluid recovery and wait for well clean up to test flow rates. Prob May, but will possibly stretch past May if there any issues or delays.. SP increase along the way--equipment arrival is a major catalyst.
Target rates should see 100% plus. The moon might take a bit longer.
CPR in the meantime to keep interest going. Tick tock as they say.