Member Info for Ezhik

There seems to have been some 'erroneous' messages centred around whether it is Q1 or H1. I understood Q1 was relating to Norio but H1 was relating to W.R. I do however recall Sidetracks being associated with Q1 in a 'message' or an interview or somewhere which was assumed by some to mean W.R, but personally I always viewed it as H1 for WR on the basis that I am reasonably aware of how tings work in Drilling and there was no way to drill two sidetracks, and horizontals, cementing, running completion, logging, stimulating and getting the blo**dy things flowing within the Q1 with one rig set up. 16a may have been possible but on a really stretched target and a magic wand. We should still get Norio and a feel for what to expect from WR based on what they are getting back in the shale shakers and behaviour patterns of the rig. e.g any pressure kicks, increased resistance, reduced resistance, WOB, ROP, etc.

All good so far though (I think lol)--a Norio update would be nice to have even if it is incomplete. GLA

23 Jan was where they started to enter the well to commence the sidetrack. (Sidetrack meaning the entire job as opposed to just the deviated section) 1st March means that they have reached the TVD (Vertical depth from ground level to the target depth) i.e the corner bit has been drilled and then they are proceeding to drill the horizontal section for a further 600m.

Realistically, the horizontal will take another week/10days at a rough estimate. At that point the success will be 'indicative' only until they complete the thing and get it flowing--April realistically--again a guess of course.

Norio worries me a little now but if they are going for the final and overall increase in production announcement once the entire current program is completed then fair enough, but I would have expected some interim good news if there were any. If they had spectacular news, I am sure they would have announced something. Yesterdays little flurry of interest was encouraging though.

raft. Incredible isn't it. I read the rns at 7.00 ish and thought "Naah. It will probably rise a bit but they still have nothing coming in and will probably crash back down within the first half hour trading". Wrong !. ffs. Back to the day job.

Back to the lows again. Unbelievable when compared to some others with unproven oil, no production and market caps of 40 million or so.

4.27 to buy now

Jolly good. As mentioned, start set up in a few days, should be all on site and ready to drill end of the month more or less. Drill April, billions of barrels mid may. :). By which Resourcehunter should have talked the POO up another 10%. Gla.

I would like to them re visit some of the earlier failures and look at a few more workovers for the mobile rig wherever that may be currently. A few barrels here and there is importantnjust now.

We are all guessing but I am going for an estimate of Early April for Start of Drilling. I had thought that they might get started in March but that isn't likely now. Another week or thereabouts for the drill site civils work and then start assembling the rig. About 7-10 days for that and then a day or two bedding in the rig and equipment, testing and reading the operators handbook (in Italian). Some dry runs under instruction form the supplier and off we go--.
(Hopefully the whatsit shaft and giggling pin were not left behind at the factory and all parts arrived safe and sound and there are no delays.) Complete the drilling work by end of April and then think about the well completion and testing. Pull the rig down and post it across to C30 which should be ready for the rig to be set up, drill pad already complete etc. Informative Tweets along the way and C37 results by end of May. C30 results approx 2 months later in July/Aug. In the meantime, there may have been 1 or 2 additional wells identified and cleaned out ready for further deepening or sidetracking . come on Zen, run a sidetrack and give us our 1000bbls from a single well and we can breath a sigh of relief. !

folk getting bored by the looks of things, anyone fessing up to the sells?

Will be interesting to see if we are just range trading between a fairly large swing or whether 0.35 can be surpassed over the next few days. might add a couple in the morning.

Its Cement !

No, well actually it is concrete of course but we incorrectly interchange the word. When we refer to a 'cement job', it means that we pump a mixture of sand, cement and maybe some aggregates into a space of some sort which are supplied by the 'concrete pump' daft innit.

Hammered by the spread manipulation. Was 2.90 to sell. now 2.80. OK wrong direction but not as bad as the 6.5% might suggest. Cheaper to buy. Happens every time Andrea buys shares

So where is the news on Norio and the microdrill success or not?. Its starting to look like not so great otherwise they would be yelling from the rooftops.

They will 'get around' the rental agreement by renting it from their own internal service provider, so technically it is still rented, and it will be 'contracted out' as the operation will be overseen by BRobotics technicians ---(we believe anyway, but who knows). There was never going to be an outsider rig.

Yep it will, but dont forget that we still have bits and pieces of the rig still in Italy so even if the last piece left today it would be another 20-30 days before its gets to C37. Plenty of time for curing the concrete.
March/April by the time they get going and May/June by the time they finish it. Yeassss AJ, they will finish it and we will have double our current production.
Then straight on to C30, get drilling that one end of May/June and then by August. we should be rockin n rolling.
Be positive now.

Bear. These wells all look the same, section of pipe sticking out of the ground with a bunch of valves stuck on a manifold.
The site levelling is however quite interesting and covers a good area. The timber rectangle that you can see is the shuttering for the drill pad which will be reinforced concrete.
The size of the area and the effort being put into creating a decent well site demonstrates that they are al least serious about this well..

Ha ha, same questions almost.

Thanks

Was there any indication about how successful Norio is looking? Also was there any information about the next few stages of WR in terms of how they are going to finish off the well?

Norio rns could be tomorrow then now that the presentation is over.

Bear

Have a look at IG, Interactive Investor and Saxo Capital. Frequent traders are around £5-6, plus there is a platform (quarterly) fee--which I believe covers some of the dealing costs but you would need to verify that. There are often deals available. Also if you can call them up and negotiate---a bit.

We also have an experienced bunch of chaps on the Board with actual experience of operating within an oil company. Oh and a chartered Geologist on the firm. Looks like a great team to get the stuff flowing and to identify the next low risk target.