Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
"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
Now don't be silly a Ars8220 Everybody knows we'd not be better off being like you -
But unlike you! I Did buy Kefi when they were a whole load cheaper than they are now -
and guess what?
I'll be selling them when I'm good and ready and at a time of my choice for a whole lot more than I paid!
That doesn't sound anything like you does it!
Ps no-ones interested in your original question - in a month or two I'll be on a free ride and you'll still be a silly ars8220
and here's a more realistic opinion As220
https://www.barchart.com/stocks/quotes/KEFI.LN/opinion?view=opinion
Re clean up costs etc., it's worth noting the comments on yesterday's Turner Pope's Research Update:-
"On a positive note, Zephyr does maintain comprehensive Well Control Insurance with potential to cover the bulk of all direct and indirect costs incurred during this incident, while the extent of gas and condensate flow witnessed during the three days of continuous uncontrolled blowout builds confidence that Zephyr does indeed have a very large well on hand."
It's a good update imo and covers the insurance aspect of things in more detail from the title :- "Well Control Insurance expected to cover most of the costs"
Link as per mdewhurst's post yesterday @ 09:22
https://mcusercontent.com/d9ebd7c1aa0f3dbc5fab42eca/files/9217a74f-6fe3-0413-e043-5b3be39d4714/ZephyrEnergyplc_ResearchUpdate_12April2023__FINAL_BG.pdf
Ezhik
No apologies please. I used to like 'When the going gets tough' . . . but then someone made a song out of it!
That part of my life meant a lot to me, can actually say that I miss a lot of it - especially that blend of teamwork, competence and humour! Proud to retain all body parts - I recall working with a roughneck called 'Fingers' because he'd lost both indexes and I'd like a £1 for every meter Chicksans that I've knocked up & dismantled over the years but never saw a flying one!
Stay lucky.
I suspect that given yesterday's news a lot of folk will have visited this board to gain information & reactions from others and it's good to see some balanced & knowledgeable comments here today and criticism of the 'tosh'!
So for me - it was a bit more than a 'leak' and a Very well done Zephyr . . . .
My expertise is no longer current - I'm in my 70's and retired from the oilfield some 25 years ago having worked for major drilling companies and Halliburton Services in the North Sea and the Middle East both on shore and off shore.
The critical factor here is that Zephyr are consummate professionals with a dedicated team understanding all the potentials ( good & bad) and the difficulties of this particular oil field that are publicly known & well documented.
Every man on this type of well will be highly trained, will be fluent in working methods 'as a team' and as individuals -
you will Not find the same degree of professionalism easily elsewhere!
In my day everyone new someone who had died in this work environment - this galvanises ones attention to detail and commitment to improve working practices and safety - there was no room for fools or inexperience then and you can bet your bottom dollar that will be even more enhanced now -
it's an ever evolving working environment, everything is based on years of history, training, experience and technical advancement.
The fact that Zephyr had all the correct insurances in place for the expertise for emergency Well Control speaks volumes in my book - always expect the unexpected and then deal with it!
So well done Zephyr!
And as someone posted earlier - this type of situation, imo, makes you stronger but remember we are talking about 'people' who want to deliver, don't want fail but ultimately don't want to die for you or anyone's gain!
Thanks for taking the time to answer me SavvyInvestor (and others) -I will take the time to read / listen to the areas of interest you have pointed out - could be beneficial to others as well!
I haven't had the time to go through all of Mum's portfolio yet but this will be a big help
I hope tomorrow's news will "be fun" and what you've been hoping for - I look forward to reading your 'take'.
kind regards
thank you for that quick insight SavvyInvestor - no deciding necessary - my old Dad left a fair few of these to my Mum although they're down I always felt they were a good share and no point in selling at such a big loss! -
is there a thread title for your JV delay posts?
ATB McDoog
Up front - I am not invested in Ceres but family does and I know that they are well down from their entry point on a very considerable investment.
From time to time I visit this board, as toneman says, just to 'measure/observe sentiment'.
Today I've walked into a Phat pack of sentiment which is good for me because the counter comments are stacked with facts & opinions - so thanks for that -
I am though interested in thoughts re China / Russia - currently not flavour of the month with 'the west' and why many here don't seem to be too concerned whether the JV with China is signed or not?
Excuse me if this is a silly question but as I've stated I am not invested here and have very little knowledge re the current CWR state of play.
I'll check back later to see if anyone is kind enough to reply -
thanks in advance & anticipation.
Griend I don't know why you persist in posting the same old carp time and time again -
your post "share ramping is a form illegal etc etc" has been posted so many times now on different sites often multiple times ! It's now beyond being pathetic and boring -
You're an unpleasant Troll and No One is interested in what you or your like have to say - luckily there is the ignore button but I just wanted to point out your unpleasantness & insignificance before I consign you to eternal oblivion on my screen.
Don't have a nice day
Respond if you like but I wont be reading anymore of your verbal diarrhea
duffs55 - We'd all like to find a 'certainty' but they don't exist - some thought this to be a certainty but it's not - it is as good as it gets though if you've actually followed the progress and understand the 'delays'!
I think that The _Chain & Wolf101 have summed up the situation very well in their posts today - I would add that everything that has been achieved to date (since I invested a couple of years ago) has been gearing up for where we are now and imo there's very good reason for optimism - Read the last RNS again & Colin Harrington's comments at the end - You've got to do what's right for you but I'm happy to wait -
and think I'm in good company.
Catbert - a good summery imo
But ain't this bit the truth -
"Accepting that this only gets done as fast as the slowest moving part is the issue that holders here must acclimatize themselves to."
and this from Electiclion
"HAA isn't in charge of the timelines, we're a £28m company seeking £320m in funding, which means the folks with the money are in the driving seat."
Says it all really, of course if you're 'out of patience' you could go find a noose and hang yourselves but I think I'll just hang around but without the rope!
FAO Vince72 re: All of us started out positive Crownos . . .
when I baled out of QFI years ago post KSA and Kuwait and having pretty much said all the things being voiced here today - I publicly said my goodbyes to all the then 'shipmates' and you posted back a thoughtful & kind message addressed to me on the Forum.
I keep tabs on QFI now out of pure interest so it saddens me that you are still in the same predicament and although I cannot offer any advice I can extend my best wishes, as you did to me.
* I always thought MSAR was and imo still is a brilliant concept and deserved to succeed - if it does then I sincerely hope that it takes you and other LTH's with it - you all deserve a 'break' for your behind the scenes research, loyalty and honesty.
Nothing here but a genuine good luck wish - look at it as being a hug on a bad day!
Regards N-107
Don't take any notice of all the armchair experts/sceptics who have no concept of extreme weather, drilling for oil or production testing -
There's no doubt from the information provided to date that the weather in Utah HAS been a significant factor
There's no doubt that the drilling operation for 36-2 LNW-CC well has been well planned and executed in both extreme climate and downhole conditions and now has the necessary casing installed for testing.
These are the simple truths - all the details are there in today's and previous RNS's and IMO rather impressive
There have been no lies or broken promises -
the important part of this RNS is the confidence the company now has going forward and I quote
Colin Harrington, Zephyr's Chief Executive, said:
"The State 36-2 LNW-CC well was a challenging and lengthy operation, more difficult than expected but not atypical when drilling in an immature, remote and highly over-pressured basin. Despite the challenges, we have managed to move the bar again and delivered what would appear to be another productive well on our acreage.
"It is worth noting that previous operators drilled three vertical wells on this acreage, only one of which was productive. Zephyr has now drilled two wells in the Cane Creek reservoir, both of which appear to be productive - a fact which highlights the benefits of utilising modern 3D seismic data and drilling with modern oilfield technologies, practices and services.
"Our next step is to commence the well test which we aim to get underway in the coming weeks, subject to weather and service availability. Production at the State 16-2 LN-CC remains ongoing as well, and the Company will update the market as soon as that test has concluded."
This has been a success story so far - Zephyr are doing exactly what they said they would do
Don't blame them for your Trading / investment shortcomings or your unrealistic ambitions for a quick return at every stage - DYOR and don't listen to conjecture.
Well said Whistler51 -
I've always thought that It's a shame that oil wells don't come flat packed with instructions - then we'd all know what to expect and if it wasn't delivered on time we could all get our money back!