Member Info for JSB1989

We still have someone selling in chunks of 300-500k just before the bell each day which seems to be holding the price down. I'm pleased to see more volume over the last couple of sessions, this should continue as we approach rig arrival and then news on Z-21 workover.

It's a huge buy from Cattaneo, £115,000 in a £7 million company. This is a buy of confidence and I'm feeling more positive because of this. Rig should be arriving soon and we should be back up in no time!!

So we have bought another rig with money we don't have. Long term this may turn out to be a fantastic strategy but I worry that further delays will require them to dilute in order to keep the company afloat. I feel that with each RNS they are kicking the can down the road. We were all hoping the rig would be here by now but I'm guessing it looking like 6-8 weeks if shipments haven't been made. On a positive note the rig will be run by the experts for six months. This should be enough time to complete the three Z wells and educate our guys on how to use the equipment correctly.

David Sadoway is also due to arrive next week. I'm very impressed by his CV and hope that AC allows him the opportunity to take the lead on the operations. We should have an exciting September-December

Sea7 - so the $490,000 from July is with deduction from SOCAR, transportation etc?

Can sell at 3.9, buy at 4p. Let's hope this can start to move

3.81 at 157,615 was a sell but mostly buys again

With a successful workover in Zardab I would say that's an accurate valuation. Sells have dried up, buys trickling in now each day, can see a gradual build up in buying volume during August prior to rig arrival.

Agree with AJ on this one. If Z-21 is completed it won't only be additional revenue but also show that we are able to complete a workover. My prediction with the extra shares in the market would be 8p-10p on completion of Z-21 @ 200 BOPD. If we hit big numbers then takeoff time!!

£92,000 of buys is some going! I would like to see Dean Clark and Miton increasing further.

Another tasty 450k.

Nice but it doesn't budge the price. I bet 500k sell would do.

Volume of buys higher than sells published and drifting yet again. Background sell maybe??

AJB - the strategy before was wrong attempting it with cheap equipment. They have used placing funds to secure rigs able to unlock the reserves in the field.

They haven't had a beast of a rig for six months like this one though AJ. It has the ability to polish off Z 3, 21 and 28 in that six months which has the potential to bring 1000 BOPD online. Again, Zenith has to now prove themselves!

AJ - I don't see how with the new rig they will fail as it offers plenty of options as they have the ability with the new rig to drill either deeper or to drill sidetracks as may happen with Z-21.

Mojobojo - currently the sp is stagnating due to the markets awareness of timeframes. The potential game changing news of Z-Well completions are projected to be between October- December. This will be signalled in advance by the arrival of the rig required to complete these wells which should be August-September. I think interest will return and SP will begin to lift once the rig RNS lands. In the meantime the sp movement is anyone's guess!

This is a much lower risk than the junior explorers in the oil and gas sectors. The oil is flowing here and has been proven to flow at high rates historically. The blowout of Z-21 proves that an abundance of oil is ready to flow out of the ground now. The risk is in the strategy and management which so far has been poor. AC taking the cheap options on equipment which has become more time consuming and far more expensive. At least Indonesia has stalled as this was another mistake trying to expand before Azer was up and running. Now we await the big rigs that should make quick work of Z-21 and Z-28 as these were almost finished with the smaller rig.

They won't do anything if they have to keep reading your emails AJB. Your tactics are not constant pressure either, its harrasment in my eyes. I will try to go to the next Zenith meeting (work dependant) and express my frustrations in a civilised manner.

280-300 BOPD. I agree we can't accurately rely on the figures from the website as these haven't been achieved so communication on the monthly production and revenue is important to me. I'm not however going to be emailing AC on a daily basis to ask the same questions over and over but rather let them get on with their jobs and try move the company forwards. AJ - you act like you were forced into investing your money with Zen instead of making an informed choice. If I had such a bad opinion of a company like you have, I would cut my losses and move on. Instead it appears that you are the person who would stay until the bitter end when all is lost and shout the same thing over and over.