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ElectricLion ~
"It's in the hands of the bankers now, and has been for some time. Grow up."
That's a fact and HAA can only wait - the same as us!
Blaming HAA for delays is like blaming the weather girls for the weather!
Filter button working overtime - not interested in nonsense!
HI fYOZ
Which is the greater nonsense?
Your post 6th Dec :-
A 10% increase each trading day gets us over 9p by Xmas
or
SP is heading towards the 1's again which is a tad disappointing.
with Quadrise's normal track record I'd say semaphorRed's comment is valid!
People is glass houses etc
TCM with regard to
"8 December 2023 - Miners need to see the colour of Ethiopia's money before entering. Miners need to be convinced
Moves by Ethiopia's central bank to let foreign miners convert the Birr currency to dollars won't be enough to prompt mining entrants until it's clear foreign exchange is genuinely available..."
I don't see the relevance to KEFI - we are already there, already committed and KEFI doesn't need any convincing or prompting!
Funding is the main issue and the EG will do everything in their power to get their Kefi gold out of the ground for all the obvious reasons and as for all the negativity about ' the implications of debt default. etc etc that you & ajs820 have been spouting all afternoon - none of these are news articles from today's news - so where is the market reaction to such devastating reports?
There's been none - not a blip
I think that you are the naughty boy on here and unfortunately you definitely aren't no messiah either.
Just scaremongers is all.
"Is there a slight niggling doubt in the back of Winni's mind" @ 15:20
"clearly we have a strong indicator that the train is leaving the station." @15:24
I wonder if that's what Winni's 'niggling doubt' could be all about ~ Trains?
Does it has a buffet car?
Can't think of anything else that could be bothering him too much - unless you or he knows something that we don't?
imo the risk/reward ratio is now as palatable as it can be.
MrPlumper
You wouldn't be trying to save our newbies shirt or influence him into not participating in taking a little punt would you?
Such a kind, thoughtful chap!
If he'd bought in on Friday he'd have got more for his money and if felt inclined he could have sold today and bought a new shirt!
Do you own research and don't listen to anyone else - me included!
Maybe Winni
"Although it's looking promising this time"
I will personally be amazed if this doesn't move up given this weekend's conference exposure and the EG's public confirmation to improve their country via their own natural resources.
So you lost money with QED but you think you're qualified to offer advice to potential investors?
I'm as qualified as you Fyoz but not as rude and who are you to say that I'm not a potential investor?
I lost a little but I bailed out having got my average down to 3.5p and the SP has never regained levels that I bought.
If I reinvested now I would have a lot more stock for the same money.
Through my own stance on QED I won't mind paying a bit of a premium and up from these levels when there is something concrete on the table and not just sentiment.
here's my brass neck - I have the margin to make that choice and the right to post here!
Have a nice day.
Hi Vince et all
having read today's posts, I have a tendency to side with Vince and his point of view ( I can't help but try to supress the feeling of de ja vu but I never do quite succeed anymore )
If I had a fiver for every time I saw "Last opportunity to buy this stock at such low levels" I'd be rich!
Having invested thousands of £ over many years into QFI (as it was) I was lucky to have not lost too much but I was always invested because I thought it was a great intermediate solution to cutting shipping pollution - later developments for KSA & diesel etc all added to the attraction - I don't need to pontify on history, most will be aware and then others will just naïve to the tragic events of the past.
I'm not bitter because of any financial loss but I do not understand why this fuel has not had any uptake by anyone - nor why, given the state of the world, why no one has championed it's production.
There must be a reason but after so many years there is imo no sensible explanation!
As I'm not currently invested you might think why am I posting ? Well there's going to be folk out there who think this is going somewhere NOW but I would say wait a bit for that all important RNS because without it you will be joining a long list of victims who get attracted to the QFI / QED dream and find that the MMs don't agree the next day and the day after that etc etc.'
Wishing you all and QED every success but I want some defernites before I part with anymore cash!
Re The_Chain's comment
" Srdoddy, ask yourself, do you think we would be in this situation had we not had the blow out at 36-2?"
The answer to that is obviously No we wouldn't and I fail to understand why the likes of Srdoddy keep carping on and trying to link the 36 - 2 blow out to 'bad decision making' by CH?
I would have thought that by now, even to the most ignorant, that the fact that it was a valve malfunction/failure that was the cause was now 100% understood and nothing at all to do with decision making - also if my understanding is correct and the said valve was part of the BOP then it would have made no difference to the outcome regardless of who had been contracted to do the work - the valve would have failed anyway.
I'm now old and tired of the 'Jam tomorrow brigade' a 36-2 success would have been very useful to me in my retirement and reading some of the dribble here from those who Know little or nothing about their investment is imo just an insult to injury.
"Can we honestly believe anything that CH says anymore, as everything he says supersedes the last statements he has made ?" asks Mr Srdoddy.
The man's a joke and has obviously failed his IQ test and would suggest that he go and invest in something more straight forward, easier to understand, where everything is run like clockwork by people who don't encounter extremes in climate and dangerous working conditions and are unlikely to have system failures of any description -
How about a German Ice cube company or similar?
Srdoddy
totally agree you lot - there's too much bull **** spouted, for what ever reason, but it definitely isn't to save us from ourselves.
yesterday's rns:-
" the company expects full project launch to commence in the current quarter as previously advised."
it's been a long time coming - but that'll do me
Hi Ezhik _ totally agree, any form of update would be much appreciated - even with our patience that comes with personal industry knowledge there comes a time when you'd think they could give us an accurate progress report!
Not sure what any new bad news would do to the share price as it's tanked so much already - I hope that we we've bottomed out with the 36-2 events thus far but who knows how the market would take an egg shaped casing?
For now, unfortunately, all we can do is assume they are continuing to make progress -albeit slow and aren't wondering what to do next!
That's me for today, RNS check done - no news is good news, he said 'hopefully'.
Hi Ezhic - regarding the up and coming cemntt job @ 36 -2 ~ they will probably do the squeeze via some sort of setting tool which is first into the hole on the pipe that is to be run - the tool allows for normal circulation but seals the anulus between the pipe and the casing - when set it allows for pressure to be applied down the pipe and as circulation is 'cut off' when the tool is set pressure can be applied to the zone below the tool. So if memory is correct they will carry out a 'balanced plug' which is calculated by the precise depth of the required plug and the precise displacement of the cement to get the same amount/height of cement into the pipe/casing anulus and in the pipe at the same time - hence the term ' balanced' - the displacement volumes are the key to this but an experienced cementer will be able to see this being achieved on his pump pressure gauge.
When the cement 'plug' is in place the pipework is withdrawn slowly allowing the cement in the pipe to stay at that depth and the whole section of casing will be full of cement without contamination from any other fluids - the tool is then set and pressure is then applied via the cement pumps to squeeze the cement into the zone and pressure is maintained whilst the cement 'sets'.
If done correctly there should be no cement anywhere other than at the required zone - the cement pumps being low volume / high pressure have their own fluid displacement tanks and therefore can be very precise.
After the cement has set it can be drilled through and then pressure tested using the same setting tool and the cementation pumps.
This was not an uncommon procedure in my day, things might have changed but it gives folk a basic idea of how these things are done.
For those interested the setting tool is activated (or used to be) by rotating the string (pipe) and lowering the pipe to expand the sealing mechanism thus closing the pipe/casing anulus - the reverse to unset the tool to allow for circulation.
Normally everything is 'pressure tested' at the required depth before any operation is carried out to ensure that the tool and everything connected is pressure tight.
If Zephyr will just get that string out I'll come out of retirement and do it for them!
regards
Molatovkid - Ezhik has pretty much described the casing cementing procedures which is done via drill pipe - the production string is a thinner smaller diameter pipe but it is still one continuous 'string' connected at approx 30 foot lengths - when a well 'blows' at extreme pressure the production string buckles / distorts but generally stays in one total 'length' or if it does break it's not into lots of small bits the breaks in the pipework generally happen when your trying to retrieve the string and the 'fishing' procedure uses a range of tools to try and catch the leading end of the lost pipe. As you can imagine (as Ezhik has already said) it is a slow and difficult procedure anyway but with the well pressure encountered here it is even more so.
At least someone (Ezhik) has a clear idea of what they are having to do to retrieve the pipe at 36 - 2 - very physical work and difficult in normal conditions let alone in a heat wave - we now know that they've only been able to work at night which would explain at least some of the time scales involved to date! As many are here I'm showing a big loss on my investment and IMHO I think that if 3.6p is an accurate / fair price for Zephyr without 36-2 then the heights we achieved before the blow-out were over priced on anticipation. I fully understand the risks of drilling for oil & gas and have worked on drilling rigs all over the world - the 2 things that I do not understand is how such an event halves the price of the share (how can 36-2 be worth the equal of all the other assets put together?) The other is the verbal diarrhea spouted by those blaming company individuals for events beyond their control. Those who do not understand the risks are fools to be invested here - the likes of Harryshang & Kipperfoot just hack me off.
It will be interesting to see what price we achieve when 36-2 is done and dealt with by comparison to what it was before the blowout and who will get blamed or praised.
Thank you THE_CHAIN but my opinions don't bring much to the board except I feel sometimes that my specific knowledge can bring a bit of balance and an understanding of some events that aren't being interpreted correctly - I will leave well alone otherwise and in the capable hands of folk like you.
But I'm happy that some approve - Have a good day.
Hi poiu - it's a cold miserable day today otherwise I wouldn't be sitting in front of the screen - I'm not an avid poster but sometimes like to add my opinion especially when criticism seems to be unfair, unwarranted or just unpleasant - also I dislike folk who take pleasure in others discomfort i..e. bragging 'shorters' and the like.
I've been duped in the past - my biggest loss was an 'oily' Range Resources (RRL) there were big lessons there for me - the company was run by a lying cheating CEO whose fictitious RNS's were so far from the truth it was eye watering - there was a resident poster (soto) who was equally inventive and at the time I was inexperienced in the workings of AIM and was taken for a sucker! There was also a resident poster at the time who did his best to warn off investors but he was shot down in a hail sentiment and I remember him saying that he got no pleasure out saying I told you so when he was proved to be right.!
Investing in oil exploration is never straight forward or a given but I've never seen or heard of a better business plan by a junior than Zephyr's - that doesn't mean that there's a 100% guarantee attached but just look at the way they are going about their business - there are many positive, accurate pots on this board recently stating the 'facts' - the only negatives relate to targets not met - well they are just that 'targets' not givens.
Setanta1 said "My broker can only get me a derisory quote to sell all of my shares. That's the only thing that keeps me here now." - Well that sounds to me that he didn't quite appreciate that nothing goes up in a straight line and that's why it's good to have a balanced portfolio and as for wanting out that's his decision based on his decisions.
So bottom line is if you are going to invest in a risky business DYOR and be happy with the quality of the personnel running the show , their history, qualifications and what ever you can and then keep your fingers crossed.
I'm very happy with the 'risk' and the current share price is irrelevant but is great for an entry point or a top up! imo
That's enough from me, got other things to do and am happy to wait - ATB
ps Zephyr did have windscreen insurance ;-)
Hi Setanta 1 - and thank you for your polite reply, not always the case - so therefore appreciated.
I acknowledge that company success in achieving goals / ambitions will largely negate mm games and the need of the likes of Auctus or any investment bankers are a necessity to heighten institutional investor profile.
I have no argument with what you are saying and using your words "investors don't tend to hang about for months waiting for the next bit of good news. They cash in and move on." - this is also true but not everything always goes to plan and 'cash in & move on' doesn't quite cover every scenario!
My sentiment is based on the fact that all has to start somewhere, with an ambition, a goal and a plan to try and achieve that goal, sounds simplistic but never the less it's true.
The difference in our opinions is largely to do with the reasons for lack of news that would attract institutional investors -Zephyr hasn't managed to achieve much of their own production ambition from their own drills to date - much of this is so well documented I'm not going into detail but it's not been mismanagement and by no means implies the 'end of the road', failure or as what was common in AIM - outright deception & dishonesty!
The fact is Setanta 1 is that although I'm not in the same league as many 'investors' and I don't have any influence beyond the voting rights akin to my holding but I do understand the 'thing' that I have invested in - I'm not a fly by night' chancer hoping for a lucky break - mine was a considered investment into a company that I respect and an understanding of what is involved in getting oil out of the ground.
In that respect I am no different to institutional investors - they understand that only too well but they are investing other people's money - no results, no investment - move on.
So as I'm investing my own money and believe that Zephyr is going about this in a business like and professional manner - the pipelines are being progressed - I don't see us as being in the hands of Dominion - everything is progressing for both party's and canny investments are allowing self funded drilling programme etc etc I am therefore quite calm about the fact there have been set backs - it's in the nature of the beast we're dealing with - the institutional investors understand that implicitly and wont be interested until that beast is tamed no amount of PR will change that!
So different points of view but Yes the current share price is a joke and I'm a 100% hold & will top up if I can.
"Opened a short today"
and you wont have been the only one!
There's nothing anyone can do about market sentiment, the mm's games or the bad luck that Zephyr has just experienced at the well head!
Very unlucky to have a down hole service valve and the shear rams fail at the same time -- not unheard of but not a common occurrence! - you can bet that BOP was tested thoroughly knowing the pressures involved and imo it was just bad luck, pure & simple.
I've read everyone's point of view since and still prefer to take the positives and hold.
The current SP makes a mockery of my average so it makes no sense to me dumping a good share at a loss nor ****ing & moaning about management when there are valid reasons for the delays to our progress.
I do hope to reduce my average which is my main positive - I don't do 'shorts' but am jealous of anyone getting on board at this level.
Each to their own but I'm still looking forward to the positive news that will make all this just a bad memory and that will arrive when they've cracked it at the well head and not a moment sooner!
GLA