The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Nice to see the share price moving in a positive direction at last, and that ZEN will be focusing in the future on drilling, rather than wasting effort on work-overs of problematic soviet wells (which obviously have not been the no brainers that many anticipated).
Not out of the woods yet but lots to be optimistic about going forward, particularly the share price if we hit pay dirt on C37, when you compare ZEN with some of its peers (very simplistic comparison I know but interesting non the less)i.e.
TRIN 2P + 2C On Shore reserves = 47m barrels currently producing 1000 barrels/day market cap £55m
ZEN 2P On Shore reserves = 32m barrels currently producing 250 barrels/day market cap £ 7m
JOG Off Shore reserves @25m barrels currently producing 0 barrels/day market cap £37m
Zen also have significant upside in reserves as the above does not include the Zardab field, which could potentially double them.
All a bit academic I know but it puts things in perspective if ZEN come up trumps. Possibly a big if but who knows??
I have a relatively small holding here in relation to my overall portfolio and can afford a wipe-out, but hope I don't. However, you can see from the above comparisons that even a modest sum invested could turn into a very tidy amount if ZEN's luck suddenly changes, particularly since they own their own rigs. However, as always DYOR.
Just out of interest, anybody know how many people are currently working for ZEN in both Azer and Italy?
Also, with their new super-duper drill soon to be delivered, how long will it likely take to drill a new well to 4000 feet and what would the likely cost be in terms of materials etc.
Anyway, ATB.
myshiptracking.com has scheduled arrival 21.00 and estimated arrival at 11.04.
The AM is now on webcam-hoekvanholland. nl, the last view of it before leaving Holland. For many of us, success will be life changing, so all the very best to all invested in this amazing adventure. It has been a very rocky ride since I first invested in 2014 but an exciting one. However, the real excitement is just about to begin! Good luck to all!
Now on the webcam Maassluis.
Come on Paul, stop this over optimistic nonsense, under promise and over deliver, that's what the market likes. Stop shooting yourself in the foot, you don't need to. You have fantastic acreage in both Morocco and Egypt and a technical team that are brilliant (hope you are rewarding them well as they are key to unlocking our success not the bulls.. t). Anyway, at least you are intending to making sure we have the cash first before embarking on the further (hopefully successful) extensive drilling later in the year. ATB for 2019.
Thanks for the clarification Tigris, it would be nice to get an update on SD shortly . You would have thought that it is in Egypt's interest as much as SDX's to get the gas flowing asap, so I cannot understand why the Egyptian ministers prevaricate so much with the permits etc. I'm sure SDX are equally frustrated.
Anyone know when the two high pressure discovery wells in Morocco will be tested? It's been a long time waiting for specialist equipment. Also, why is it taking so long for the Egyptian Oil Minister to sign off the permits to get the pipeline commissioned at SD. This should have been done @ October, at about the same time the BP thingy was being considered. Anyone think SDX pi... d off the oil minister by putting their photos on Twitter at that time giving the impression that the deal was done and dusted? Just an Idle thought as everything seems to have gone pear shaped since then. Anyway ATB for 2019 and let's hope positive action kicks off early in the new year.
Try www.yr.no (a Norwegian weather site) for a 10 day forecast for Lerwick. I use it all the time, particularly when on holiday and it has been quite reliable and covers many more places that the met office web site does.
The inference from that article, is that BP have been playing down the prospects of Hurricane, big time. I wonder why!
Biffadog, Hope you are right about possible hook up in the 1st week of December, preferably 4th as it would be a brilliant birthday present for me! ATB
AM now going gang busters at 10.6 knots, it can smell the oil!
Going into overdrive now at 9.7 knots. Now officially in the English Channel.
Hats off to Dr T and his team and particularly all the hard working Contractors who have met the programme for sail away. No mean feat! It is quite extraordinary what has been achieved in such a short time. Wishing the crew fair winds and calm seas. ATB.
Hi WM, Glad it will be out of the way before we get there. Full steam ahead.! ATB to all long term holders. Its been a long wait since 2014 when I first came aboard. I am still optimistic for FOIL in December.
It is possible that the AM could be parked in Dubai for a couple of days as there is a cyclone warning off the coast of Oman and Yemen on the 14 October. ATB.
A very precise figure `381`!!!
Hi Rev, l'm sticking with Dec 4th. ATB
Great summary Wellwell. Hope this all bears out as you suggest, but I'm sure there will be lots of unexpected twists and turns along the way (good ones hopefully). ATB
Hi Rev, You missed my earlier post. 105p Medicines Sans Frontieres. ATB
Hi Rev, Can you please perform a minor miracle and put me down for 105p. Medicine Sans Frontiers.