Member Info for kelsbells

The market seem to believe zen definitely got the better side of this deal, Coro currently down 10%

My guess is we’ll get an rns in the morning probably around the initial take up of the MTN’s

I posted this a week ago, can’t see it doesn’t still apply.

The reality seems to be that getting the MTN’s away at whatever interest rate we may have to pay (probably a tad higher than the previous 9%) is priority here, it’s obviously key to making sure we have less dilutive funding going forward which can’t be a bad thing. If he released production figures now and they weren’t brilliant you’d be wishing he’d sorted long term financing out first . Make of that what you will but I reckon we could be waiting a few weeks almost to c-30 spud for any production updates.

No Magtalo I’m saying that getting the MTN’s away and sorting our long term non dilutive funding, some of which will probably be for an acquisition is clearly the main current focus, and updates on production may have a negative impact on getting that funding away . So my guess is we will hear news on MTN’s and a possible acquisition before we get a production update

Bots you’re probably right , RH I agree but read between the lines with the rns’s we’ve had and the ones we haven’t had and you can see where this is going

The reality seems to be that getting the MTN’s away at whatever interest rate we may have to pay (probably a tad higher than the previous 9%) is priority here, it’s obviously key to making sure we have less dilutive funding going forward which can’t be a bad thing. If he released production figures now and they weren’t brilliant you’d be wishing he’d sorted long term financing out first . Make of that what you will but I reckon we could be waiting a few weeks almost to c-30 spud for any production updates.

Orjones I think you may be spot on with the direction this goes moving forward

I’ve seen the red dot for 30mins but can’t see it anywhere to read, what does it say ?

Of course we want to know about c-37 flows and perforations yesterday but for people to say tweets are pointless is just stupid and unhelpful. Investors said to AC they wanted lots of Twitter pics and videos , he’s done that over the last 6 months and people still complain!

Also even if rates are confirmed at c-37 to be in the high 200’s we won’t get fair value from the market for doubling production due to the AC comms debacle, we now need multiple success over the next 6 months to regain trust and in turn a properly valued share price

RH if oino is saying c-37 is priced in , then he and the market clearly believe/know there isn’t much oil at c-37 because as you say if we are now producing an extra 285 it definitely isn’t reflected in the current share price

I’ve never wanted to say this but the truth is almost undoubtedly that having AC at the helm is holding the share price back. I honestly think if we had a respected oil ceo coming in tomorrow the share price would rerate to 5p purely on confidence and trust. Clearly the market still isn’t pricing in the 285bopd from c-37 and who can blame them based on the farce of recent communications and our previous history... however on the flip side it can’t be argued that AC hasn’t totally put his money where his mouth is and is fully committed to the project and he deserves respect for that. I also think they genuinely are on the right operational track now, and the potential of the asset is as good as anything that you can find on the market.

Zen have a 25 year deal with socar the 465 bopd target by Oct 19 was just a technical caveat to ensure there’s activity and funds being spent on the field, basically making sure the license holder doesn’t just just sit there inactive. It isn’t an issue

Is anyone going ?

Ezhik good to have you back posting, was worried about you there for a few days! Can you try and answer what may be a daft question that I’ve been thinking over the last few days. As we don’t seem to be going back to z-21 in the next few months, is it possible with the massive pressure we had there with the blowout to just turn it on in some way collect the oil to get our daily production up? Obviously we want to go back there someday and either drill a new well a few yards away or do a sidetrack to get a long term solution with well integrity ..but in the meantime....

Yes I’m surprised as well ajb, but good luck. Nothing from ezhik today I wonder if he’s followed a similar path ?

Thanks Sankeys does feel like we’ve been giving another chance to really kick on from here and hopefully have our faith rewarded at some point in the share price

Why didn’t he just wait a few days until we got production rates, just ridiculous!! But in the end clearly good news but leaves us with a lot of catching up to do

Just rereading AC’s comments from the rns, apart from the totally inappropriate wording to start saying ‘the bod is delighted to announce the results at c-37’ it makes much better reading around the bit which says this well is still on track to sizeably increase daily production...I think next week may bring greater clarity around what level of production we can expect moving forward, hopefully 75-100 taking us towards a very respectable 325-350 of daily production. Although AC is often misguided in his public comments, he can’t rns that we’re still on track to sizeably increase production if the well is a failure as some including the esteemed ezhik have suggested in their honest opinion may be the case.. I believe a more positive rns and week lie ahead

Good to hear from you ezhik, how you feeling about yesterday?