Member Info for JSB1989

I would like to see the breakdown of what the pumps have contributed to the overall production, otherwise it's a total waste of resources.

The rig is massively important, I'm hoping we have this within the next two weeks and then drilling Z-21 with positive results by early July. That would send a rocket up the SP and back to double figures but easier said than done.

$80 Brent again, not that we have seen any improvement in the SP with the bullish oil price

What did you think to the presentation Sankeys?

10 bags are a long way off ShinFalls. That would be a £100 million MC, we would need to be around 3000 Barrels for that to be a fair valuation.

If they produce as targeted 1000 BOPD ($60ish profit margin) and no dilution I predict the price end of year with be 20-25p (30-40 MC). It's a big 'IF' however which will require success from the workovers in order to draw new investor money in.

https://mobile.twitter.com/zenithenergyltd/status/998504873044926464

2900 would be $6,500,000 revenue a month ($4,000,000 profit) so you would be expecting a MC of £100 million (60p+) I would take a successful workover and getting back to my initial investment, my optimism doesn't stretch that far to believing we are on the verge of hitting the historic figures from the 80s.

I'm concerned that now we appear to be in a forced downtime of doing very little apart from pumps and let's be honest the pumps have hardly made a big difference. The rig we require may take a while to access which leaves question marks over future timelines for each well. In the meantime I can see the share price drifting down due to the lack of developments.

So the 'gross revenue' would indicate that Zenith would be required to pay SOCAR from the $505,000 which equates to the 240 Barrels a day average.

Would SOCAR take the oil and transport/sell themselves or would they invoice Zenith after they have sold?

The $505,000 equates to 240 barrels a day not the 300 stated

I'm guessing August for Z-21 now considering they require a more powerful rig to pull the tubing string out.

6.33 buys or sells?

Yes a big sell in the background which is dragging the ask down with each buy.

Small top up myself 7805 @ 6.47p. We are almost back to 12 month lows too!

I think releasing a monthly production update would really beneficial to the SP as it will be highly likely with the rising oil price and pumps that each month is better than the previous. We should now be in the $650,000 - 700,000 range for May with Urals around $72-75

It's important that investors can be equally positive or negative on boards like this. The only problem I have is when you have rampers/deramper who spread lies for there own gain. AJ although tedious with the number of posts pointing out the same failures has been accurate with their assessment of delay after delay

Surely this would be the last extension to the Indonesian DD? At which point the $100,000 deposit could be lost. It doesn't seem like Z-21 is days away either but could extend for much longer.

Agree with your assessment Sankeys. I think the DD has been completed and Zenith want to buy the asset but they haven't been able to fund the deal with the finance terms they want. It's clear that Andrea believed Z-21 would be online by the time DD date rolled around and would be in a much better position to negotiate a deal. The delay of Z-21 is delaying the purchase of Indo.