Member Info for Ezhik

Zeb, from rns's z21 well data was poor. The production tubing dia changed and was not documented, there is also 166 metres of tubing still in the well which needs milling or jarring using a bigger rig than they had. These are both disruptive and potentially damaging to the well and bearing in mind that the structural integrity is questionable in the first place there are less risky wells to go for, frustrating as it is when one remembers the blowout of course.

It will rather depend upon whether the zones are commercially viable and whether there is success at djeno. mcap is still quite high and is trading on expectations as opposed to income. Hopefully with 101 chucking out 400bbls after water injection and a good result at djeno, it may double. A bad result at djeno and lacklustre flows from the zones in 103 then it may halve. 50/50--others will disagree of course :)

"Does this mean that Z21/28 are no longer being worked over since they were Soviet era wells?"
My take on this is that they are tricky completions and will remain in the melting pot until the company are better placed to risk further investment in sorting them out. Zardab has been of particular interest to me and I felt that it may hold significant reserves and become the darling of the three fields but I guess that it has been less developed over the years for good reason, namely high pressures which makes drilling more risky and the formations more likely to implode when there is a pathway for the release of all that pressure.

I guess that we are going for individual personal contact with Zen enquiries as opposed to a joint effort so I will pen a few together this evening. Personally, I don't intend to use it as a slanging match or to dwell too much on the past. Having met, spoken and corresponded with A C for the past year, I have learned that he doesn't respond well to personal criticism therefore do not expect much of a response to such questions.
One or two things that come to mind, one of which has always been a concern are what do Zen propose as a solution to the inherent sanding and well collapse issues experienced across the region? Why does Zen believe that they can succeed with re entering MO C 01 and what will you do that is different. What is your current view on the merits of further expenditure on milling the pipe stuck in z21 verses the potential reward. Where are we with drilling the new well in Italy and how are we getting on with divestment of underperforming assets. Why have socar involved themselves in the tendering process and what was there involvement in previous strategic decisions. I will also ask for a warts and all post workover review on the wells to date and why after increasing production on some of them at the time, none of this extra prod came through on the overall figure. M66, c26 etc. Did they just sand up after a week or have they simply depleted and the early uplift was purely a result of a pent up slug of oil trying to get out..like a pussie boil lol. It appears from the Zen website that a few earlier wells have in fact penetrated the upper Cretaceous zone ( I will get the welll numbers and add them in), so why are you saying that this area has been untested? and what were the historic production figures for these wells. Anyhow, he will have his work cut out if he is going to get through everyone's q' s and I hope that collectively we get a reasonably b.s free reply. He will of course want to talk only about the shiny new 260 and the fire engine red truck mounted rig but after all, he is only human and they are very nice assets.
I will be at a meeting most of tomorrow and will miss it, no doubt it will be recorded for later consumption though. 5 p by Friday then.

If you are still looking in mate, you are not alone. Hopefully today will give you some direction in your decision. Good luck with whatever you choose though. I am holding mine and will try to trade a few in an attempt to increase holding without further investment. We shall see in that one, but the asset value, production and potential should have us at double the current mcap. We just need some love from the market. ATB

Production for the previous year was 26000 tonnes of oil which equates to about 182000 barrels, i.e. 500 bbls a day. This was at the time that petrovietnam held the psa with socar. The recoverable oil for all 3 fields was 3.4 million tonnes or about 23 million barrels. Info from azertac publication. Just sayin and for info.

Just as an off the wall thought, what if the 260 is staying in Italy? Could be, they were talking about a new well in Italy. Ok it's unlikely as the focus is supposed to be in Azer, but, stranger things and all.

At least the bb is active today, 60 plus posts. keep it up, spread the word.

As I mentioned, lets hope they go for a proven rig with a good team, both man enough for a deep well together with contingencies.

Also rigs usually come with their own crew as mentioned also therefore Muddy is correct in that it doesn't necessarily take long to procure unless Zen are building into the deal some kind of performance and penalty clause and getting the contractor to spec the rig based on well data (that is currently a secret). Ac is supposed to be a good negotiator isn't he? Lets hope he can negotiate a freebie together with a penalty clause lol.

260? doubt it will go to Z wells at this stage tbh, Don't forget the A100 (120) maybe suitable for Z wells if it can cope with high pressures.

In the meantime, folk are paying 3p, bargain at twice the price.

It is well C26 and not C36, thought I would mention it before it gets confusing.

Yep, good decision. There are also plenty of potential issues with access rights, tribal ownerships, security, personal protection etc etc. only a few years ago they were still eating each other.

"SOCAR has shown confidence in Zenith by offering the possibility of entering into a 25-year REDPSA for the largest onshore oilfield in Azerbaijan. We intend to show SOCAR that this was a good decision by systematically increasing production."

Hmm, that would be novel wouldn't it.

K.B It is normal for the rig to come with its own crew and relevant equipment. This is the reason why they have been eking out as much with their own rig as possible. They haven't specifically previously spelled it out that they were tendering for a rig and crew, as it is just the norm for the two to come together. The costs is of course higher, hence my/mudstud leaning towards using the 260 as it will save cash, however, it still looks like they are trundling along with the tender process--at least in theory.

Looks like they are still negotiating for C37 rig and crew unless it is a red herring and a way of padding out the decision to use the 260. News in 14 days ref negotiations could just be time enough to see the 260 en route. Anyhow, if they are still intend on contracting it out, lets hope they go for a proven rig and good crew already known to have performed small miracles.
There is work going on in the background to enable better targeting and pinpointing of wells with better potential for increase in figures, we now have C26 under starters orders with the A80 whilst we await the A100 and 260.
They are probably now at the level of understanding of the field that they should have been 18 months ago and it is now time for some serious traction.
Bearing in mind that we have income and considerable reserves, SP is still well below where it should be (Compared to some of our fellow tiny oilies.)
RH..How is the Poo today mate?
Everyone else--Start tweeting the virtues, the potential multi bag and how great everything is--it works, trust me. I started last night with a tweet to Big Gib if anyone knows him.

Decent buy reportd after hours, we may get a rise on Monday. Good weekend all.

S7, Good weekend to you too. I added a few at Bloe early doors, spent my last penny so to speak, just £1000 but its in profit already. I have turned 1800 into almost 3000 over the past couple of weeks between Aaog and now Bloe. Not a fortune but a good %. I just need this one to recover to double figures. lol.

Next few weeks then. Equipment dispatched to Azer, Mud tanks, surface equipment, lorry loading facility, overspill carpark for the multitude of trucks needed to take the oil away, newly commissioned storage tanks, and the long awaited super fast rig complete with B Robots men to keep it oiled and working, and all of the past 12 months will be history. ahem..

Keeping a cautionary lid on the excitement, in reality, if we get drilling by the end of this month with depth reached mid Feb it will be good going, now where's that logging analysis and that previously un-tested zone that has been identified by our neutron logging tool.? rns Monday please.

Will be happy to see the back of it instead of looking towards it. Glad that at least part of my 'in the meantime' post from yesterday was answered. I'll toddle off now and look at the tweets.

I.T issues, repeated post--sorry n that.

R.H You do seem to have an unusually keen interest in the elevation of poo. I can offer some counselling if you want?

R.H You do seem to have an unusually keen interest in the elevation of poo. I can offer some counselling if you want?