Member Info for JSB1989

The 'Big Rig' to arrive within 90 days from RNS two weeks ago. The other workover rig is due anytime.

I'm not disagreeing with either point you have made below Pawn and it's his mismanagement which has led to this position. His loss just doesnt make me any happier about been 50% down.

I don't take comfort in knowing someone else is in the same position Pawn. Today will be a tough day. I'm predicting 4.25p close this evening. Let's build from here now.

What timeframe was that in between placing and rise? Very different companies to compare too. Investors know the rig could still be a couple of months away so the Z well potentials maybe four months down the line!

I couldn't get any even with time left on the offer. Either way I'm very disappointed that we have had to raise further funds to essentially keep operations going and doing so at a huge discount to the share price. Let's expect 4p or potentially under with the flipping of new shares over the next two weeks anyway

MC now £7.7 million. Urals May average around $75 and June around $73 so far so should be $550,000-$600,000 revenue a month now.

I'm looking forward to an update on the pumps, hopefully increasing output up to 350 BOPD. Rig arriving in July would be a bonus!

So he has gone from under 3% straight to 5.4% ?

Great research Sea7, much appreciated from me. There is a lot more to these fields than meets the eye.

Indo deal uncertainty is definitely contributing to the absence of buys over the last few months. Unfortunately we are now in a much worse position to raise money compared to Q1 but if the asset produces great long term for the company then it will still be worth it.

Just checked out BLOE, unbelievable that we are trading at a £2 million deficit to them. The drift is because any substantial news is unlikely within June and July. I'd estimate that from August onwards will see the interest return to the company when the drill rig is due/arrives.

Bad dream last night Oilpatrol with your 3am post. We are by no means a write off. As I said yesterday, surely as a producer we are significant derisked compared to the many junior explorers listed on the markets. UKOG valued at 5 times our cap, craziness!!

Ezhik - the historic nature of the wells will be a concern for many potential investors too. If they prove they have the ability to flow one of the Z wells for a sustained period of time this would be game changing for the company.

It's disappointing to watch the drift but it's most likely sellers who are fed up waiting for any success. Considering May and June will average $73 a barrel, we should be making $600,000 a month so $7,500,000 projected revenue a year (£5.5 million) compared to the MC of under £9 million. Plenty of upside here but this will only be realised by some success from the pumps, workovers and/or new drills. I would rather be invested in a producer with significant profit margin and proven reserves than an explorer with an inflated share price. Three years ago Serica was in a tough position without much success and traded at 3p, they have turned round operations massively and have traded over 90p recently!

C-37 clean out to install Novomet pump

https://mobile.twitter.com/zenithenergyltd/status/1005019765625192448

https://mobile.twitter.com/zenithenergyltd/status/1001785595209900033

The potential of Z-21 was priced in after the blowout at 12.5p, now there is zero expectation for it

Deepsurvey - I can't see how the Zardab workover programme won't be successful with the correct equipment, it's a case of when not if with Z-21, the oil is there and wanting to blowout to the surface. 3p would put the MC at £5 million which even with further delays I can't see considering the £0.5 million steady revenue each month.

On the bright side, Urals price (finally updated) over $77 which would be $715,000 if averaged over the month at 300 barrels.