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Callit . It is not as straightforward as that . Flaring of gas is a safety system . Unless you are a dedicated gas producer with gas wells then what to do with the gas that comes in with the oil can be tricky as it depends on the volume of gas coming in and how many wells you have in the field . Anything will multiple wells is straight forward and most companies would use gas lift ,. Separate the gas when it comes in , take the moisture out , filter and compress and reinject it down a well to force more oil out . If you are buying up a field with just a few wells then there is a chance of some gas to power possibility but any mature producing field which will likely have multiple wells will certainly be using every drop of gas to reinject and extract more oil . Been there , seen it and done it , on rigs in Africa . At the end of the day it depends on what ZEN buys up but certainly for the near future the thinking and focus is on increasing oil production or at least I hope it is .
Congrats to AC , IC and the est of the ZEN team , their football team did them proud by beating England . Although I dont follow football I was cheering the Italian team as I had a twenty quid bet on with the missus . It is always good to support the winning team which is why I am a shareholder with ZEN . Hitting those targets that are getting closer .
Florida . "Perspective" , its easy to bandy a figure of 3.5 mil about but any contract for a workover is likely a long way from being agreed and as such the 3.5 mil as the lowest quote wont be the one that is chosen once they find the contactor who can actually do the job . On the other part of the rns Robanna which is stated as high risk/reward it looks like the only option there is drilling new wells which as we all know is very expensive . So I stand by what I said earlier , that Zen wont be in a hurry for any of this , keep banking profits gained and buying up more production , keep company running costs to a minimum. Do the cpr's , make the assets look good and bring another oily in to share the high risk/reward stuff . To put thing into perspective I have 35 years in the industry and been on many drilling rigs and understand to a certain extent of what goes on , though not as many as Ezhik since drilling is his speciality and not mine .
That would be impossible for anyone to estimate without detailed knowledge of the infrastructure , sales income , manpower / maintenance costs and others of which we are a long way off getting any details . It could be that current operations are running with minimum manpower and maintenance costs and hopefully maximising profit which is good and even just left ticking over would provide a decent income . To increase production we know will cost many multiples of doing similar land based operations and could have some costly surprizes so I would not expect to see anything happening here anytime soon . Any drilling activity offshore is going to need massive funding and I would prefer them to get an oily partner in to fully fund or take a share of the costs . With a good oil price and upgraded cprs some of these smaller assets could be polished up to become attractive to other players . Any company that can increase their production by getting someone else to pay for the drilling is on a winner .
Yes . At this stage picking up smaller producing assetts for a song is a great way forward especially when no production targets are written into the deal as a stipulation . It has been the making of some smaller companies .I am sure condensate sales alone will recover the cost of this after a few months. An updated cpr will add more value to this and all these smaller increases in cashflow are adding up creating more interest and future funding becoming easier. All good news .
Florida . But as you say you wold only imagine . There are no long term holders here who suffer any phycological trauma . Any of those that did because they cannot handle the high risk end of the market have sold and are long gone . Others have sold and gone on to other things some have also stayed not because they have been drawn into the excitement of what might happen but because if you can afford to accept an extremely large loss then whatever happens isnt going to matter a flying **ck either way . I do happen to think they could just pull it off but I wont be spanking the monkey just yet .
Florida . Positivity is a great thing and rampety ramping is always welcome here so I dont know where this came from but it is an absolute classic . I had to call the laughter hospital when I heard this one , "You know how it goes, never buy into an oil company before it drills, only buy when it misses. " Brilliant , keep them coming . GL
russthedude . Yes it does seem a while ago but it always reminds me of the guy who never stopped going on about it . I dont remember his call sign but was constantly running Zen down while claiming to be a holder . Trying to save us shareholders from ourselves . I know he disappeared then reinvented himself but I am sure he is long gone now . Its good to see Ezhik , Ageos and a few others still around .
Hey 40p would be nice but way too conservative for this board . Not even a years earnings at that production and if that level is achieved your looking at a whole new company . At 40p the rise from current levels would not have gone unnoticed as it rises to a mid cap oily but with little debt , unlike others in the same group and a complete turnaround in sentiment and outlook . In those conditions the sp could never be stuck at 40p
If that 20k bopd was realised then at current prices your mcap is barely a years earning . For a company which will be debt free by then I would conservatively multiply your figure by 3 . Could exceed a quid a share assuming shares in issue remain the same and expansion by acquisition of small already producing assets is funded by gradual increases in production which would open up more debt financing opportunities to speed the process up . IMO picking producing assets up on the cheap will propel Zen going forward and hopefully get some half decent production into the kitty even before Tilapia starts drilling . Tunisia I feel will start the ball rolling the hard work has been done just a bit of admin left . News soon hopefully .
Buying up already producing assetts is a great idea and happens quite a bit as majors often offload for various reasons . I am sure if anyone can pull it off the AC is the man to do it . Any news on Tunisia would be welcome and would light a fire under the sp. Sounds we are getting lined up for an interesting and lucrative few months and year . Bring it on .
Wow . Fair bit of share chat here this morning . Great news and one in the bag . Tunisia on top of this and its income producing aspect will really propel us . News could come anytime just like this did . Now is perhaps not such a good time to be out . Maybe Santa has more presents to bring . GLA
TYB . Agreed . Although the price is low atm at least it cant get pushed any lower prior to the next news coming out . The Tunisian deal could be across the line anytime soon , also and if I am not mistaken that pays for itself and then puts 300bpd into the kitty . If everything comes good with Tilapia and Tunisia then we will be rolling . We wont have to wait long to see which way it goes .
But in your case , a life collecting unemployable benefit should not be considered "earning a living"
Historically speaking , every time there is a crisis , someone tries to take the focus off their own individual issues and get involved in a war . Bush and Blair lying their arses off about Iraq , Bill Clinton getting blown off in the Whitehouse was quickly forgotten about when the Yanks stuck their noses in the Balkans war . Now we have the biggest clown on the planet with a wig threatening to blow Iranian patrol boats out of the water . To forget about injecting everybody with Dettol and ignoring his IQ of a Potato then the only course of action for Trumpton is to start a war with Iran . Sure to start moving the price of oil up . Watch this space