Member Info for Ezhik

Gateaux, Not technically correct. Well head pressure measures against formation pressure differential, pressure build up all need to be established but not when its water only or at this far too early stage. Last post for today. Come back in August

AJ.. On their face. Just my warped sense of humour

This is the main concern that I have currently. Delays, change of plan and developing new strategies are kind of acceptable. Current continued failure isn't and is hurting all of us. The issue for me with regards the pivotal Z wells is that previous attempts at rehabilitation ( across the field) have proven difficult or have been unsuccessful. There's have been sand issues and well collapse after sometimes short periods. If Zen are simply repeating the same well completion strategy as predecessors, I'm not sure why they would expect any different result. Just sayin--I hope they have a plan. They have a few months to get their plan together and to get a positive result. There is not more room for much more egg.

G007, so is Brazil being Brasil or was Brasil being Brazil for a moment or two? :)

They should think about building a small production line for bags. Or develop a supply line with guaranteed uninterrupted supply. :) if I were the 'bag man' I would be rubbing my hands together just now. 50,000 bags sir? no problem, $6 a piece delivered please. We don't want to have 300k worth of sales and nothing to put it in innit !!. I might send Brian a note.. Fund raise was unexpected, discount not too bad from current SP, huge overhang if they want to offload for 10-15% though. Now where's that certification !

Or indeed 8p in Jan 2016.

Shiny new rig for sale to anyone that wants to start drilling in the water. Maybe they should think about hiring it out on a day rate At least it was completed--to a spec of some sort. There is always 'hope'

Andrea is definitely not 'poor' and appears to have made his money himself by a combination of right place, right time ,hard work, associating himself with government leaders (right info) and generally 'going for it'. He is unlikely to want to lose $100000, but if it is the right thing to do, I actually think that he would do so. However.. I mentioned yesterday though that the rig hire is via Zena as mentioned in the rns. Zena was set up by AC and will probably be sub hiring it to Zen. This manoeuvre could be the 'vehicle' for recovering the loss--it is what I would be doing if I could get away with it, so we don't have to worry about Andrea hijacking the decision process. He has set himself up to win win--salary shares based upon a 'value'. the lower the SP the more shares he gets and the larger the potential reward. Spread bet set up--no comment!. Personal acquisition--well, yes, there is an outlay but to some extent is hedged against the salary shares. Overall-he will not lose out. Next time anyone is talking to him, ask for a nice bottle of his favourite wine produced from his own vineyards. :) The 3000bbls by 2020 target is still in the frame---oil, not wine of course, if that is achieved without too much 'D' then we should all be 'ok' in the end. At the moment, it is hellish painful to see the Sp where it is and know that our 'money' would have bought almost twice as many shares in the company than it did one year ago.

It sure is a difficult one to try and pre-empt. Just at the moment I wouldn't say that we are in much of a position to go ahead with it. Any finance from an II would be at punitive rates if the balance of risk/reward is taken into consideration. I also agree with the comment in your other post that to gain credibility, one success is not likely to 'do it' . I posted ages ago that z21 would be the start but they would need Z28 to follow, just to prove the well design and strategy was not just a 'bit of luck'. Better still, if by say Jan/Feb we have done the three Z's successfully and outdone the 1000 target and are going back into MOC 01, lenders would be more interested in a slice of the pie. so--wait n see Sea

S7. without the implication of any investment advice etc, what are your thoughts on the prospect of Indonesia coming to fruition and how do you see the finance being provided? any thoughts? It could be that once the asset has been given DD and there is a current and prospective value attributed to it, the combined value of Azer and Indo could be that the a fund raise could be achieved at higher than the current SP.? It would of course depend on how many shares issued against how much debt or who in fact stumps up the cash. I am just trying to judge whether we are likely to be looking at a equity raise at more, or less than the current SP and either buy a few now or wait. At the moment I am waiting.---

coupe or 4 door? At the time they were like small aircraft carriers with similar turning circle and handling lol.

There is always 'Zena' as a vehicle to recover it via the rig hire :) He will not lose his own money--

AC will not lose his own money. It was a loan to Zen, therefore Zen will repay it.

Zeb I would tend to agree. The desire to extend was fairly obvious from the first rns that mentioned it. The outcome will give more knowledge and detail of the well characteristics and of any problems encountered that can be taken forward on any exploration drilling and Z3/Z14/Z28 or whatever other Z's they want to choose. The only way that Z21 can escape from being bored even more than it already is, is if it throws up something like the 500bbls a day after the tubes are pulled out of it. but--the overall desire is to dig deeper I think. Pity, it will be end of the year before we get the thing flowing unless the rig arrives within a couple of weeks and all work goes ahead at non zen speed.

Start flow back from 11th--drilling fluids, water etc. Flow-test at least a couple of weeks afterwards. Flow test duration??= As long as it takes to get it to flow--weeks, not days. just my view--no agenda--hold a small amount of these.

not by any means an expert, but.--If by getting it into production quickly and achieving upwards of 300bbls a day, it will give early revenue and start to rebuild confidence. If it manages to keep producing for more than a couple of weeks after the initial euphoria, all the better. To drill the extra xxxm, they increase costs and increase risk of causing damage to the well as it is now. If it goes tips up then there could be no production from it at all potentially. If they only get 50-100 bbls or some other figure at which they have decided is not enough then they will take the risk an pay the cost of drilling. If they wait 90 days for the rig and then go ahead with the drill, we are looking at a possible 6 months away to get it into production. With the high oil prices just now, there will be balance between higher risk/potential reward to be evaluated against less risk/reward. Either way, there is still no guarantee of success and they need to get going on the exploration drilling-planning, access, drill sites, pads, infrastructure, storage or distribution facilities and crack on with it.

There's loads to talk about> Motorbikes 88E dropped to below 1p over the winter and is now up to almost 3p---if they can, so can we. (18p by Christmas.) We will have lots of spare rigs to drive around in and look for promising patches of ground somewhere across the largest oil field in Azerbaijan. Mudstud can help them with this as he is now our expert in well location.:) Re-positioned pump number 13 may make an extra 3 bbls a day, so we will be 216 bbls short of the promised 219 !! Ac will be having lunch with another Ambassador somewhere and will be wearing another new suit. Indonesia will come and go, Someone will have to go and learn how to operate the new rig Someone else will have to go and find out what to do when it stops working The experience of using the hired-in version will help to understand the Genesis when it comes ( positive) AJ can burn Castrol R and tear up the tarmac, scare old ladies and children with some expansion pipes and talk about pumps to anyone that wants to listen.--now we are talking! In the meantime, just maybe, the field team and engineers will identify another few low key clean ups to be done across Murudkhanli and Jafarli just to keep the crew occupied and to utilise 'our newly refurbished A80' rig, manufactured in 1976 by the Russians at the Lada Niva factory. I have some paint that needs drying so we could all meet up at mine and watch it. Exciting times eh? TBH. Overall, it has to be good news--Z21 work over will definitely reach its anniversary though.

At least someone else realised that the 150 was not really up to the job and that a 4000m 1000hp crane was needed, like wot I did say yesterday. I still don't know why they are going for these robotics rigs though. Oh well, there will be fireworks in November. Enjoy the Summer, drink PImms, wear a yellow tie and join the old rowing club

Zenith confirms that it is currently in negotiations for the contracting of a ZJ-30 150-ton workover rig to complete the Z-21 workover. An update will be provided when the rig has been mobilised to the well location. rns 18th May.

On the bright side, we can have an anniversary pi** up when Z28 becomes a year old innit. ...and not to mention M195 pump missing in action--I said ''don't mention it'' !!.