Member Info for maestro1

So that was a lie..

Should have at least drilled one more well before the raise. What small amount I have left in bloe is being added to Zen, another ex Soviet with proven reserves.

...

If it was 12-13p they wouldn't have had to bookbuild, they need to entice investors.

Now's that's a coincidence isn't it....

FCA are toothless...

Heid

I believe it will be at 8p.

Alot of bloe holders will be moving here, now we need Andrea to behave. :)

They state that drilling will occur from mid july to mid aug, likely be near end of august.

I think everyone is getting concern of the junior loan note, still not been finalised, maybe people thinking another placing coming.. MATD did a double placing last year, everyone remember that?

mls

"In addition, the study also provided a modern re-evaluation of the Eocene age reservoir levels comprised of sandstones, marly limestones and volcanic facies."

This is why maybe SOCAR never managed to hit the sweet spot in the eocene, a well close in soviet ere produced at 700bopd in the eocene zone, but within the eocene it appears there are different layers.

Lets see...

Rock

That includes the initial testing too..

Well either Andrea really bullish and giving us clues or he is desperate to increase sp.

They just need one stroke and they will be back to 7p-10p range.

C22 produced around 700bopd from the middle Eocene, initial rate must have been alot higher.

Drilling activities in well C-37, Jafarli Field

The Company's operational team plans to divide drilling activities in two phases. Initially, well C-37's total depth, 3,987 metres, will be deepened by 15-20 metres into the Middle Eocene formation and a production test will be performed. The Company's geological and reservoir investigations have indicated that the Middle Eocene formation in this well may hold significant oil reserves. This has been supported by the fact that an adjacent well, C-22, achieved a sizeable rate of production from the interval between 3,902-4,014 metres.

In the event of negative results from the first Middle Eocene target zone, Zenith will proceed with deepening the well by 200-250 metres to test the Upper Cretaceous formation.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ZEN&ArticleCode=9rewvw7f&ArticleHeadline=Commencement_of_Operations_in_Well_C37

He must really believe something really big in the upper Cretaceous.

I'm not actually convinced production will increase from middle Eocene, socar drilled this well in 2008 and only managed 5 bopd.

It all rests on this exploration zone the upper Cretaceous. I would have gone and drilled new well in zardab.

One thing Andrea never tells us what the company expects to produce by deepening well c37, granted upper Cretaceous is exploration but the middle Eocene is not.

Socar only managed 5 bopd from this well, how confident are they increasing this?

SEA

i dont see the point hurrying up, they need to wait for the top drive system. He stated it will take 2 and half months to do both wells which includes testing.

C37 will take 3 weeks maximum.

I believe assembling the rig for the first time will take more time then dissembling and assembling the second time.

All eyes on the Upper Cretaceous.

Once they start drilling it's only 3 weeks max to reach TD and the initial test.

Top drive will definately speed things up.

http://www.bwrobotics.com/genesis.html

Safer, Better, Faster
With the introduction of the patented Genesis BQ series oil rig, B Robotics W Srl, an Italian oil rig manufacturer, sets a new standard for rig safety, performance, and speed.1 The Genesis Rig represents the most important advancement in new technology since 1923, when rigs transitioned from percussion to rotary systems.2

For more than 60 years, the diesel electric rig has been the stable of the industry. It utilizes a drawworks to spool a cable in and out to hoist and lower drill strings, etc.3

The Genesis Rig’s key innovation is the replacement of the drawworks with long-stroke hydraulic cylinders (installed on each side of the mast frame), which are safer, more powerful, dependable, and precise.4 The cylinders are activated by rugged gear pumps controlled by VFD modules, which alter the volume of oil delivery and traveling speed of the top drive.

The hydraulic cylinders’ fixed stroke makes possible the rig’s second major advancement – the highly reliable automation of repetitive actions, including tubular handling, string pull out and running, casing running, drilling, etc.

As a result of the hydraulic cylinders and automation, the Genesis Rig can trip in and out at a speed of more than 1.5 m/sec, compared to .5 -.6 m/sec for a conventional rig, as well as handle three range 2 drill pipes.

The Rig’s automation also is central to its ability to operate in severe hot and cold temperatures. Automation eliminates the need for workers on the drilling platform and monkey board. A single individual in the climate-controlled driller’s cabin can trip, change bits, change stabilizers, etc. Chillers prevent electric motors on the Genesis Rig from losing power from overheating in warm climates. And heated water is pumped through the system to allow the rig to operate in extreme cold temperatures.

Knowing that rig breakdowns can be costly, engineers at B Robotics W carefully selected components for the Genesis Rig based on dependability and field tests. The Rig’s systems are designed for simplicity in function, ease in understanding, and low maintenance. Redundancies are built into key components to eliminate single-point failures.

Edit:casp

Yet Casper has mkt cap of 163m, Zen only 8m. It goes to show how undervalued Zen is it's only they have inept board.

Just increasing current production will increase sp by many multiples and confidence returning. Let's see and I hope the team have expertise to deepen both wells.