Member Info for Ezhik

I'm guessing that hydraulic directional valves or check valves on the iron roughneck are/were at fault. They could have overcome that issue by rigging up separate hoses with manually operated valves to override the valve manifold and get the roughneck to grip the D.P. and then use another rigged up hose and valve to get it to rotate with enough torque to un-do the pipe. Think the top drive is/was ok but they couldnt break out the tool joints due to no or low power to the jaws. Sometimes these valves are hidden away inside a casting or manifold and if the casing fractures or the ball valves get jammed up internally it's not the easiest thing to rectify in the field. Hydraulic failures are often a result of getting dirt into the hydraulic system due to poor maintenance in the past.

Rig reliability aside, they cannot magic a helium payzone beneath a trap seal if there isnt one--sooner they get back into T3 to enter the basement, the better.

R.J. I have re-read the various before and after rns messages and if they are just outright lying then it would be one heck of a porkie. I have an open mind on the final production figures though as until they are proven they are just theoretical but if they get a stable rate at around 600 or more with minimal decline and no water then it would be jolly. The proof of concept that the two fields are connected would be very good news and a continued increase in proven reserves will be excellent as and when additional drilling comes through over the next year.. It takes time but so far, they are doing what they say on the tin albeit a bit slow and with some delay and unforeseen difficulties so I'm happy to stay in for now.

@Heid. Indeed. That target is looking like a bit of a stretch just now so you should be quite safe for a while.

I also have a beard 😉. Getting ready for the Santa Rally

"The Company expects to provide a further update on the reservoir clean-up operation in the SCHB-2(2.) well after establishing a stabilised and sustained flowrate from the rod pump.".

The above is from the last rns---don't be surprised if we get radio silence for a while again. From this sentence, it says to me that they'll only let us know how its going once the flow has stabilised--i.e. not until some time after pump installation and maybe nowt for a few weeks. It'll be a test of nerves with a happy ending- or not as the case may be.

Rod pump, motor, nodding donkey, stuffing box, diverter valve, rods, all need to be installed, set up and operational--it's not a 5minute 'just put it together' job but neither is it the first rod pump that's ever been installed so they should be able to meet their estimated timescale.

Said I would buy more if it went below .14, might have to raid the piggy bank next few days.

Yeah, but there will soon be magnetic polarity event and this will reverse.--maybe today. :)

L5. I wish any of that were likely.

We may get a small spike on rod pump installation and operational news.

If that spike gets us above 0.2 I'll be surprised--and tbh would sell up half my holding

Rod pump flow news wont make any difference

ESP will go in once they are happy that there is no more debris coming out of the well. Could be 3months 2months 4 months and has nothing to do with the weather-unless they have to abandon work due to be frozen solid.

Nothing flows until the well is cleaned up this week?-- Nope, Its already flowing under its own pressure and will continue to flow assisted by the rod pump and will take a few months to clean up.

Rod pump is a more robust and simple piece of equipment that can manage bits of debris and drilling fluids without too much damage. The esp is usually a multi-stage centrifugal pump with tighter tolerances and clearances that would wear more quickly if abrasives were running through it. They will run it when the well has cleaned up some time next year.

Yeah, but he's been on these bb's since 1975!.

Easter is more likely the timescale. Mid/end of Feb for the pump. Bring it on line, increase volume, set it at a rate that will prolong the well life and get as much oil out as possible over time--end of March, maybe April

I understood that Zphr were exploring the idea of farming out the gas processing and distribution network to a third party. The T.P would own operate and repair the plant and infrastructure for a gas distribution fee. It would save ZPHR the initial capex and they would then pay a handling charge based on volume. If this is the case then I would expect that discussions are still ongoing-- or did I imagine all that.

Things will start moving here again once the redrill details have been finalised and we have a rig , a drill date and confirmation of the finance via the insurers. It's vital to us all to prove that Paradox can be commercial and its still all a bit of a way off unfortunately. Sp is currently heading to where I bought-in in the first place @1.95p.. Hopefully it won't get there but we have a bit of a wait I think. I'd anticipate 6 months to get the 2 drills under the belt and at least a better idea of what production could be expected from 36-2A or whatever number they give it. Still in but not a buyer again yet

Not that interesting though. awesome wells data not yet available--more waiting. Co is profitable though, good management of non-op portfolio.

@djm27. My distant memory says 8 blackjacks or fruit salads for 1d. A whole bag full for sixpence. 1962 ish

Hey Doggie, you are everywhere this morning lol.

Nope Jolly Roger, not on the dark side. Was hoping for 500-600 by christmas (personal hope) on the basis that they would likely increase the flow rate and production incrementally after the esp install. rod pump would have been in mid Oct as they said it would and hoped that around end of Nov the well would have cleaned up enough to install the ESP. The addition of the ESP would not automatically equate to 900bbls or more per day as mentioned by some posters, thought that 5-600might be possible. I also posted realistically a few weeks ago saying that the rod pump--due in Mid Oct would not automatically produce 250bbls a day and therefore folk should not have a melt down if it didnt reach its max flow straight away. Others on here were talking about full production by the end of November and some were saying it would be more then 900bbls a day--i'm not even sure where they got that from but it wasnt reasonable to expect it. My post that folk don't seem to like which is essentially their problem, was in reply to Paulio who is clearly hoping that his investment is going to increase more quickly than it will in reality. I am saying 6 months on the basis that we have now been told approx mid Q1 for the esp--that is dependant on how the well has cleaned up and whether the company believe it to be the right time. Then once they get it in an operational they will have to gradually increase the flow and will probably be doing more downhole anaylsis whilst this is going on, so if they stretch to beginning of March for installation and then gradually increase flow over a further 6 weeks or so and if they dont encounter any problems you are looking at Mid April to get to a full production figure. In other words for mr paulio, he's going to have to wait till easter for his christmas turkey. there is plenty of time between now and then for events to affect the SP, hence the comment about trading it if the opportunity arises is more likely to keep his money in the black--which at the moment is obviously in the red.

P11. TBH, not much excitement with the SP now until March/April. Expected production from the rod pump is already in the price, look at the Mcap. Its all OK if you want to sit and wait and if you can actually trade the ups and downs in between then its prob the best way to stay in the black. RNS today was disappointing, basically says they have been on holiday for 6-8 weeks. The increased reserves is good, but was also expected as per the rns in Sept so its not going to set the world on fire. Production from the rod pump was expected 4 weeks ago and most on here were expecting the ESP pump to be in by end of Nov with the well on full production. I was hoping for 5-600bbls by christmas but that won't be happening now. The black cloud of $$$ in the bank still remains until they get the income from production. So there's a few months of revenue to accumulate some cash in the bank, batten the hatches to conserve $$ unless they tap into UJO for some more investment money and then think about next developments. If you are thinking about doubling your investment in the near term then I would be extending the timescale another 6 months and hope they don't raise cash. Will be keeping an eye on the price as will most and if it goes below .14, I might add some more but might not. If I could have got a price to sell at .165 or more today, I would have sold half and waited. Don't get me wrong, I have plenty of cash in here as I believe they are onto something that will in time make money, the potential for the reservoirs to be connected is good news, the increased reserves is good news and the fact they haven't busted the well over the last 6 weeks is also good. There is no income which unfortunately is the main thing that this so called market is interested in--.

Here we go again, wtf is a 'genuine investor?' I just want to know so that we can get it out there and have it published in the traders glossary of terms alongside weak sellers, strong holders, strong buyers, strong sellers, imitation investors, weal investors, strong investors, et al. I had a recalculate by the way having bought at different times and prices, 35m was a bit of a guess, 15m in my wife's ISA @16p average and 17m in mine at 17.3p, therefore not 35m after all, my apologies for the generalisation and inaccuracy. I'll let you know just before I dump the 15m from my wifes acct, hopefully above 0.2 in the next couple of weeks. Vixen, your attempt at point scoring for your own moment of self satisfaction was a pity and I hope that that floor that you seem like rolling on is quite clean, you might pick up some nasties on there--actually thought you were better then that tbh.

Not de-ramping but no need for the word week. Just say thanks to those that sold I've picked up some more at a price I'm happy with.. I have about 35 million of these myself with the last ones bought at .143 and some at a higher price. I am very disgruntled about the radio silence from the board and more annoyed that they are too arrogant to reply to enquiries which doesn't sit well, same as most pi's with money invested, but trying to be a billy big balls by belittling those are are selling is just an indication of the scarily low intellect of some of the wannabe traders on here. Pathetic.

What?--maybe the dipstick is missing from the hydraulic oil reservoir and found itself on the bb.

Stop talking about 'weak sellers' it's a pathetic expression. People buy , sell, hold, abstain to suit their own needs. I bought at 0.9 and sold at .26, made almost 200% in a few days, does that make me a weak seller, or is a weak seller, someone that has seen an opportunity elsewhere and wants to release funds or is it someone that has lost faith or no longer believes in the ramping bs? and is actually brave enough to sell up at small loss? What about the weak holders that cling on to something because they are too swollen headed to admit to making a mistake and then keep the things until they become worthless and then console their egos by saying they are long term 'real' investors and its a long term hold. When you sell yours, what will you be? A weak seller or a weak holder?

They haven't actually been specific about what the problem is. We could speculate all day as to what may have gone wrong with the hydraulic system. Pump--if it is a separate pump to that driving the rotary. Directional valve--wont send the hyd oil to the roughneck. Control valves passing oil and not sending signal to the directional valve. Somebody forgot to top up the oil, Whatever it is, is is just a mechanical 'thing' that is repairable. Mud circulating will possibly cake up the well bore and once they get the rig fixed, they may have to run a scraper--maybe not, just musing and saying it so that folk dont go into meltdown if it becomes necessary. There could be a short term trade if the SP tanks--pity I have no spare $$.