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RH . Yes it is truly amazing . Good though that ZEN ae getting all this attention . This Africa deal has certainly got the juices flowing . Cant wait for when everything slips into place and ZEN get into gear . That herd that arrives will be a big one .
I heard there wasn't a meeting and it is just a wind up . Which may or may not be true but it all does seem much like rumour control have started something . I know a guy whose friend said ……………………….. blah blah blah . So it must be true!!!!!!!
Zeb . I am hoping he has a cunning plan . The lack of pictures , the sp subdued , stuff we don't like but were not privy to all the wheeling and deal and who would lie to keep the sp low for whatever reason . I don't see the point in issuing the bonds unless you have had evidence that you can increase production . This is why I think we are close to C37 news . If they can get the bonds away they will have the money to cut through the Congolese red tape and get the 80% of 5.3 million . But it also means multiple ops in AZ which is something we have neve been able to afford . Good luck ZEB , I am hoping it all plays out but I am not averaging down just yet , only checking for RNS each morning and tying to live in hope.
You have to remember that these guys are trained up on the equipment that they have . They will have spent their working lives in AZ which is where they are needed . The only reason things have been slow is basically down to lack of cash If they manage to move the bonds then it will be all systems go in AZ . The specialist guys , geologists have been there studying AZ for a long time plus a couple of Italian guys thrown in . Relocating people would bring enough headaches and more money to fork out . Any drilling rig they get in Africa should come with its own crew who know how to operate it , it would work out much cheaper as drilling would be done much quicker . Until we hear otherwise Az takes priority over everything else . Selling those bonds would enable operations on multiple fronts
Zeb . I doubt you will see an operational plan for the Tilapia but if you do it would be basic and with no timescales attached . They have only just arrived in Africa , employed two guys to ty and get things moving . They have only just done the deal and knowing how slow things have been in Az it is unlikely to be any quicker in the Congo . A rig to get with its own operation team who will be local . A year from now is a long shot to be producing anything imo , but increased production from AZ will service any debt and more . AZ should still be the primary focus as it is the quickest route to increased production and cash flow .
Zebediah16 . "The Azer oil fields are providing a base at the moment, and provide savings . Obviously some of the technical team can be deployed to other areas while the disputes with SOCAR rage on "
Who are you trying to kid "disputes with Socar rage on" what disputes? nobody knows of any . Az may be providing some sort of base at the moment but likely only enough to keep Az ops moving and not much else and OilNo is right , to move those bonds they need to show the market that they can actually increase production and cashflow . Since ZEN started the ops in Az the production has dropped with no confirmed sign yet of success . We had a hint on C37 but that had issues which imo will have been sorted now , hence the bond issue . Why I feel an RNS for C37 is on its way .
Yes but it is still a big gamble for anyone on the outside . At the moment none of us really know the situation in Azer . Plenty of rumours good or bad . But if the ship is a little leaky at the moment then who knows , they could offload them quick enough
Until we get the rns we wont know . At least if it is not the news we want it shouldn't come as a surprize . We have been speculating as much for weeks so there should be anything were not ready for . Because we have been expecting the worst news will likely be better than expected when it comes .
Good info from Shellguy . Especially the comment at the end "The participants seemed pleased with the meeting.
I was not at the meeting, so just passing on the news from the chat room in Norway. DYOR" . So just to put everything in perspective , there is certainly no indication of any problem between Socar and Zen . AC has been buying recently something he wouldnt consider if issues with Socar exist . Obviously RNS will be imminent following on from this meeting . All on track and following the Az plan
itisagame . Forget any side deals between ZEN and AAOG over any of ZENS assets/projects . AAOG retain 20% of Tilapia and when ZEN get that AAOG are gone and all the dodgy dealing **obs that comes with it . As for financing the project , ZEN will have the finance when the 5.3 million is released but not before . Tilapia is just a fall back project that is of secondary importance at the moment
gg40 . Yes . I think/hope the silence has been in our best interests . Though it has fortunately or not , stopped me from averaging I have not got to the point of selling any and will just continue to hold . Well down on paper which obviously isn't nice to see .