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Am I correct in thinking it could cost up to $2 million just in a signatory bonus for the license . How much is the license?
Nice line though about in line with the ZEN strategy of picking up cheap companies with good reserves …...blah blah blah . How about the ZEN strategy of steadily increasing production in the Azeri asset...……...or go for debt financing instead of diluting the **** out of our investments . SEA7 , absolutely , all it needed was a picture of the BD260 on c30 , how difficult was that . Because its not there . Lets forsake a couple of weeks drilling and just pack it up and send it to Africa asap . I had a reply to a message from them once . Saying that they were not amateurs . I didn't reply back . Because they were wrong
Tiburn . Agreed . Also as per interview , Djeno is estimated 30% cos , so in reality probably 20% . So far far from nailed on . It would be more interesting if ZEN got the dosh straight away from SNPC and use the money to do more drilling in AZ .Hire a rig locally at a later date for what should be a short inexpensive drill . But in West Africa it is never going to be straightforward . Obviously rather than give up on Tilapia if AAOG have other options then perhaps they should follow them
Tiburn . It sounds so easy and despite the limited experience of the ZEN drilling crew , this is a nailed on success from only those already invested in it . 1. "just 200m of drilling "COULD" hit the top Djeno 12m column, from mob, upto 15 days drilling" 2. " its upto 5000 bopd with this one well" - If everything was that straightforward people would be throwing large wads of cash at AAOG . No problem with finance???? 3. "That 200m of drilling may be possible with a ZEN owned 1200 HP rig" This would have a major impact on the current ZEN drilling schedule which has more chance of success of increasing production in Azerbaijan , than being sent to Africa on a whim for up to a year . 4. AAOG partnership with SNPC obviously isn't working , wont improve and AAOG will inevitably have to find a way out of it . No one else is going to do any better and there will not be a long list of companies wanting to partner with SNPC
I suppose at least you now what you are getting with the zen deal . What can you expect from this bunch will be nothing but what is in their own self interest and possibly to the detriment of everyone else imo
Tiburn . At the end of the day you have got to hope someone has to make a decision to protect and save your investment . ZEN need to focus everything on what they are currently doing and that is a struggle . They just don't have the money . Everything hinges on getting that 5.3 million . If that doesn't happen then both companies will be in the same boat without a paddle . How zen will get it when AAOG failed is something I don't understand . And why get into bed with a state company that shows it can rip other companies off . No sense in that at all .
Tiburn . Don't get too excited about any ZEN involvement here . Zen shareholders are not . We are struggling with what we have got . Never mind production targets , we were promised 1000bpd two years ago which hasn't happened . In fact , the production in the field we took over has actually dropped since ZEN took it on so we ae now sat at less than 300bpd . Zen may have added to it recently but were still waiting for confirmation . Zen have very little experience of any oil recovery and though they bought their own rig recently they ae still leaning how to use it . They are struggling financially and most agree that this is not the time to be buying into other projects . As for the CEO advising governments , dyor , based on something from end of Vietnam war .
"AC is a government advisor" , get real . Another beauty from magtalo . Certainly not the Congo . If it was the case he would have to be living there and doing business there . He may have been in the right place at the right time in Vietnam once , many moons ago but it doesn't mean he is up for the Presidency of the African Union
Pawnsacifice . Exactly . On that basis alone . The partner , who happens to be the government [couldn't be worse] , is screwing you out of dosh , you cant do a thing about it but slowly go bust . Regardless of the potential , still a gamble anyway , anyone with a sane mind is going to walk right past this . It initially looks cheap , but not with the debt they are buying and all the "extra costs" that they haven't been told about yet
Its never a good sign if the people you are in partnership with decide not to pay you the money they owe . Slight trust issues may arise .
Its Africa . Its big brown envelopes at the ready . SNPC didn't pay aaog the dosh what makes anyone think they will pay ZEN . That money will be critical moving forward because there is going to be a drilling rig to hire . We shouldn't lose focus on what is or is not happening on C30 . A simple tweet of the rig on C30 would put a lot of people at ease and subsequently help the sp . So why not .
From a zen investors point of view we have only seen failure to deliver on operational promises and timescales. I suppose the share price doesn't tell lies . All time lows and exactly how we feel .
Yes COdey . You must be famous . Yes , it remains to be seen , but as you can see from the ZEN sp chart we have had no success here from the start . Although it was always in ZEN focus to look for other acquisitions we were mostly led to believe it would be the case of achieving success and increased cash flow first , instead of where we are now with the sp at an all time low . It smacks of desperation .
Kam . "ZEN has met with SNPC and expects full repayment " , well as usual ZEN expects many things and continually fails to deliver . The following is an AAOG investor opinion , "the only ZEN question which will become do they now become the new AAOG and get caught on the SNPC nail that AAOG did for months and months or, when they talk about getting the cash from SNPC, they have more concrete assurances?
And the final question, why would ZEN do better in the negotiations than AAOG did, considering there's not so much difference, considering that cash and licence terms would have saved AAOG from having to take the minority stake in their own business? "
Slicevolley . What a lot of twaddle . "There are no tweets as activity In Azerbaijan has only recently re-commenced, trust the eye in the sky." So what are you saying the status of the BD260 is . Not rigged up yet? "eye in the sky" - not a full wit . "AC had put six figures behind the placing, if we were in dire straits this would not have happened," of course he would because it wouldn't be for the first time . A lot should have been done vey differently and that is why it does warrant the current sp . And now the Congo . Right out of the frying pan and into the fire .
SEA7 . I was not suggesting at any point that C37 was producing a large amount prior to a new esp going in , and in fact any speculation of what it was producing based on averages and other well performance is exactly that , pure speculation .Only highlighting that no one seemed to know of this activity and was hoping it would raise more questions but has obviously flown past most .
SEA7 . But this is the point . People assumed that before the recent workover everybody believed that the 5bpd was what was given to ZEN . But we actually don't know what it was when ZEN took over . What we do know is it turned into 5bpd after the first workover which ZEN did with the "added bonus" of a blockage, something everyone on here doesn't seem to be aware of . The lack of clarity regarding what is going on , current output of C37 , why no pictures of BD260 on C30 , fantasy acquisitions of *rap no one else wants , total distrust here now and record low sp virtually daily . Don't want everyone on a downer but I am and AC had better be . Not selling but starting to now wonder if my whole investment here will inevitably become worthless
AJ . Congo? I somehow doubt it . Zen knows that every time they announce potential acquisitions the sp suffers . And then nothing comes of it anyway . The question should then be asked , why do they do it? Someone is going to take advantage even if we don't know how
AJ . Actually I am not . My post was really directed to AC , to try to annoy him . It was also based on facts that many were not aware of . Mine was not a "Parrot Fashion" churn. Strange you should mention Magtalos though since your persona has been quiet of late . Anyway aside from that , are you saying all his posts have gone ?