Member Info for Ezhik

If it has been finished, assembled, commissioned, painted(not so important) and has all the necessary essential spares, then I shall eat my Oreos.
Looking forward to a twit saying that the cabins, drill pipe, fishing rod, line and float, drill collars, spirals and a big Bop has arrived, the b robotics advisory crew are on site sipping tea and the rig is passing through customs on its way.
The arrival of mud will indicate that they are going for it and will be drilling after the cutlery has been removed from the hole.
Wishful thinking that the above will be any time soon though.

We are going in the wrong direction. More sellers than buyers. Should be knocking on 4p by now. More waiting then by the looks of it.

Korg. Most companies on AIM are loss making at the beginning and some never make a profit. most trade and potential and sentiment. Sentiment here is growing, potential is essentially endless if they get the enquiries for new applications and keep developing solutions the way they are currently doing. The improvements to trading over the last quarter may surprise a few and there is of course that illusive partner announcement to come sometime over the next 9 days. Next 5 years, look back at the chart for STAR and see it on a steady overall upwards trajectory.
Biological farming solutions are the near term future for Agri and Star are already in there. Pity to sell yet.

Thanks, I knew that you would know the date, time etc down to the nearest hour. If we don't make it for any reason, I would expect solar to allow some leniency especially if we are nearly there so to speak. In theory, we should be way above that figure by then but we should be there a.ready tbh.
Back to work for the day.

Muddy. I am convinced that AC wants to drill down at Z21 as opposed to finishing off the W/O. we will be lucky to get 21 finished before the end of Dec if that is the case. They will also want to do more testing and logging at different intervals if they drill down so as to get more information about how to plan and design future work.
Long term that may be good but short term I would rather just finish it off and get another 1-200 bbls a day into the revenue stream followed by Z28.
That Z3 well has been quoted as producing high numbers-- I am suspicious--who said that it produced those figures and where is the proof. It could be heresay and propaganda bullships. If it were true then I am surprised that the azer assets have been left untouched for so long. Mid size to major players would be interested in wells producing 000's a day so if they believed it likely or possible they would have been all over it. Sorry to be a doubting Thomas but I suspect there is a tale to be told somewhere. Data from Soviet era has already proven to be fiction so why would their production figures be any different.

and now 3.0 as Ityped

Almost there.

End of year is? December? or Financial year?
1000 by December is not going to happen and AC is not going anywhere, this is his 'baby. The only way would be for a take over from disruptive II,. or Zen fail to meet their PSA target by 2019 and lose their license to operate. We have about another 12m or thereabouts I think. S7 will have it nailed to the exact day I suspect though.
Pumps and interventions have only managed to maintain previous production and compensate for the natural declines which appear to be greater than expected. Without them and the work done we could be at below 200bbls.

It will take a reasonable result at Z21, Z28 and Possibly Z3 before we get a decent kick behind the SP IMV. If we get a spike on 21, it will be heavily sold in the rush to get out and for the participants in fund raising to churn their profits. Z28 success will likely see much the same and then on to Z3 by which time they will need more cash and then on to MOC 01 which is going to need a lot of planning to get it right. 6 months to turn this around and restore at least some confidence is my guess. If it happens...great....if not, I am toast

AJ--A possibility... they may have used their own gas to generate electricity and sell the elec to the grid as opposed to selling gas directly. TBH I haven't read the update properly so the above may be nonsense.

There were no posts today so I thought I would say something :)

Welcome to our world.

Was a good rns for sure, Zardab assets not included in the reserves estimate which will make a big difference at some point. We are already trading at a huge discount to asset value.
Reads to me that the 260 rig will be later than expected-- I know it doesn't say that but it's what I expect. Something different would be very pleasant surprise.

New more reliable data should be the key to a better result here.

Time drifts by, I mentioned Christmas the other day. Could be about that time that we get results especially if they're stick with well z21 and drill it deeper. Anyhow, ATB.

Well, things have been progressing in the background. It is all a bit late, but as my wife says ' it's never too late'. Hopefully the geological data and subsequent interpretation has been completed with 100% autonomy and without influence from anyone within Zen. If ITN is still looking in, a professional viewpoint would be good if you don't mind.
Happy that the future work will be based upon more reliable data as opposed to a scatter gun approach where money and effort can be absorbed with little or no results.
Long haul ahead though, depends on how we get there as to the amout of dilution required. The key is still the successful workover at the existing Z wells. Interesting that there was no confirmation of the plan for Z21 whether we are drilling it or completing it as-is.
Non delivery of the A100 seems to suit our current activities, presumably non delivery means non payment and the upgrade will help capacity, keep the drill string moving and give some more pulling power.
Overall good update, non technical, relatively straightforward. Funding required over next few months though if the appraisal is to be drilled. New data may give confidence for an institutional investor to finally come on board.
Early Z success is still key IMV.

You may well be correct about the 260. I couldnt find any design details about it other than the spec given in the rns. B. Robs website only gives details on the BQ rigs which is where my info came from. I concluded that it appeared they only built the same type of rig but to different capacities, ( bigger/smaller). But this may be incorrect if they do in fact have another design type a.k.a BD
I did suggest some time ago that this 260 was likely to be an ex demo unit or one that a customer had on trial or previous hire or something as the 90 days was not a realistic timeframe to build a new rig from scratch so with a bit of luck, all the other components are up and running, ready assembled and raring to go. :).

Recent tweet looks like an upgrade or as you say a re-furb of existing components. It will be a stretch to get it all set up and that within the next 2-3 weeks, but who knows. Where there is a will, there's a way. Innit.

Re-wind that last message.

The Genesis 500'comes on 65 trailers, not 'one'. Not sure where Imgot that gem of a brainwave, but, what they are saying is thatbthere are far fewer trailers needed when compared with anstandard rig of similar capacity. I.e. 110 trailers needed for a standard rig.

65 trailers at azer customs would be interesting. It will look more like a missile launch pad than any rig they have seen before.

ATB all

Lol S7. So, what you are asking is this:- If b Robotics deliver it in 60 different parts, can we say that they delivered it to site on time? And then spend the following 6 weeks assembling and testing it?

Of course I am just kidding, but technically, they will have met the delivery date. Warped sense of H.

The more serious answer to your question...I vaguely recall something about it or maybe it was to do with the 500, that it came on a single heavy transport trailer. This does however sound incorrect as I have had cranes deliverd for one of my jobs where they needed about 5 or 6 heavy trucks for each crane. Cranes were one1500t and one1200t. Impressive gadgets.

I will look up info and see if I cannfind anything.

On the plus, it does show that it is under fabrication. What we don't know is how much more of it already exists.

Delivery dates from an Italian or pretty much any other fabrication yard in Europe is merely a starting point. I may have posted some time ago that the Sept dat must be taken as an approximation. If it were Chinese, then whatever date they give is almost always the date you get. Italy/Spain/Anywhere else in that general area is just to get you to sign up and commit.

This is not a production line where everything is timed to the fraction of a second with materials measured to the nearest gram, it is a small company fabricating and building to order. They will have to assemble it, get it commissioned after all of the electronics have been fitted and tested, limit switches, proximity sensors etc set up, pumps tested, hydraulics set up and tested. They will have some quality control procedures and likely some re-work but maybe we will get it painted in Rosso Red, of Fly Yellow. I don't care providing it is reliable and does the job. See y'all at Christmas.

Mobilisation is anticipated to take approximately 5 days and the rig will be moving firstly to the ELM-1004 well, which was suspended for testing in May 2018. Testing of ELM-1004 is anticipated to take 2-3 weeks, following which the rig will move on to test the remaining three wells in the current four well exploration programme. Â

Timing for a result is about now mr mandrill. By the end of this week surely.

Heard from Andrea, as all of us, he is looking forward to getting going again. He agreed that some twitter pics are a good idea, we shall see whether he can obtain any and subsequently post them.

Personally, I am not expecting it to arrive until Sept, which is but a few weeks away now. Set up is just a few days allegedly with these rigs therefore If the well site is ready and all equipment is still on site then we could be turning pipe mid Sept.

Dave will hopefully get his overalls on and take part in the first 4weeks rig familiarisation and training. I will be disappointed if he doesn't.

For anyone looking in...current intrinsic value of azer assets is considerably higher than the mcap would indicate. Risk of failure at z21 still exists of course therefore no investment advice intended. You pays your money and takes your choice. There is always z28, Z3 and moc-01 to play with over the next 6 months any of which will make a material difference to the outlook here.

Back to work now

Timing is about right for 1004 though.

The way things work in any country held under control of Russian oligarchs is that AST directors and in country managers are likely to find themselves imprisoned and the company fined for costing Slovenian jobs. There will be no incrimination of ARSO or the govt.

Ascent have done the only thing open to them at this time other than closing the door on the way out.

He doesn't have many LinkedIn connections for a CEO, designer, entrepreneur etc etc. I don't 'do' LinkedIn particularly but I think I have about the same amount although I haven't updated mine since 2009.