Member Info for SEA7

scamp..

your viewpoint is that of a trader and not someone with an investment horizon of a few years at least.

I have made the best returns in most of my investments in years two and three of a holding period.

Why do people panic and sell stocks when they get cheaper, yet buy in their droves as the price rises. Those same people refuse to buy groceries, that have increased in price and buy up everything in sight when things go down in price, when they are at the shops.

Wouldn't it be better to apply the grocery way of thinking to stock purchases.

This stock is on sale at a low price - buy it, hold it and wait.

tks ezhik - i have kept an eye on tilapia..over the months.

The govt in congo will have noticed AAOG precarious financial position and the trouble brewing, so they will have simply stopped paying as they will have felt that the money would have vanished and barely any progress on the field. If AAOG went under, then all their money would be gone - the congolese govt have nothing to lose by not paying. They keep the cash, their share of the field and then get back AAOG share, if they fold - win, win for the govt.

Zen can have a crack at it, however, state authorities in which ever jurisdiction, congo, azer, italy always hold the power no matter what happens. You come along and drill - they benefit, you walk away, they keep the asset.

yes - it wouldn't be too difficult for Andrea to pick up his phone, call someone at the Azer site office and say "take a picture of the C30 pad and rigging up, then send it to me" - two minutes later, he can upload an image from C30

Not difficult and therefore he is not doing it on purpose - why - because the rig probably hasn't even begun being put together yet - I bet that half the workforce are on annual leave until Jan 8th.

kam - I do not need to repost an excerpt from the announcement that had already been posted by someone else, in the post before mine - repetition

my holding is there - you think what you like.

zen will have cut a deal with the SNPC - zen will use the money to fund the work program on the licence.

Andrea slipped that out after the UK market closed

time of announcement....24.12.2019, 19:34:35

I guess that is where Ac spent Xmas eve - in the congo.

excerpts...

Pursuant to the terms of the SPA, Zenith has agreed to acquire 80% of the issued share capital of AAOG Congo for a consideration of £1 million, of which £500,000 is to be satisfied in cash to be paid in six equal monthly instalments with the first instalment due on completion and the last being six months later, and £500,000 to be satisfied by the issue of ordinary shares in the share capital of Zenith to be issued at the volume weighted average price of a Zenith common share for a period of 14 trading days prior to Completion (“Consideration Shares”).

and..

In addition, Zenith will fund AAOG’s share of an up to US$5.5 million work programme to be agreed post-Completion, and the amount of any signature bonus required for the renewal of the License as agreed with the Congolese Ministry of Hydrocarbons, subject to a cap of US$2 million if the signature bonus is payable in a single instalment and otherwise at an amount to be agreed between the AAOG and Zenith if the signature bonus is payable in multiple instalments.

yep - did wonder about that!

happy xmas badgernator

https://translate.google.com/translate?hl=en&sl=it&u=https://www.tvqui.it/cpl-concordia-roberto-casari-assolto-per-lundicesima-volta/&prev=search

for the record - the outcome of that operation in my post was announced 5 days ago - the leader was acquitted and the others had sentences reduced.

Clearly all innocent and angelic.

anyhow - zenith has a subsidiary - leonardo energy consulting of which 48% is owned by zenith. 43% is held by Fabrizio Tondelli...

Tondelli is no angel....

https://translate.google.com/translate?hl=en&sl=it&u=https://formiche.net/2015/03/i-numeri-gli-uomini-cpl-concordia/&prev=search

excerpts from this article 2015
Already brought up by the collaborator of justice Antonio Iovine (the former president Roberto Casari is investigated by the Naples district anti-mafia prosecutor for external competition in the Camorra association), this morning an operation coordinated by the Naples prosecutor hit the top of the CPL Concordia .

cpl concordia has many players of which...Director of Foreign Development Fabrizio Tondelli

whilst this article is four years old and it is possible that tondelli is not the same tondelli - he is about 60 ..around the same age as Andrea. Coincidence?

sarge - if c37 was producing any substantial amount then it would simply have been left alone to produce. None of the wells on the field produce much on an individual basis.

Take for example m66 they put the ESP in it and production, initially was 50stb/d from 1.5stb/d - once it had been on production for a while it dropped to 3 stb/d - where it stayed.

C21 initally was announced at 50bopd after zenith had worked on it, however, this became 10stb/d afterwards.

C21 accounts for 10 of those 77 barrels at jafarli as at april 2018 - that leaves 67 to account for.

We can safely say that prior to zen putting that ESP in C37, that it wasn't producing much, as the 67 barrels a day to account for is spread across 11 other wells on that field. - That is about 6stb/d on average for each well.

well done there jim!

back in 2016 there were 19 wells producing on the jafarli field at 70bopd.

back in April 2018 there were 12 wells producing on the jafarli field at 77bopd.

from 2008 announcement...

https://azertag.az/en/xeber/NEW_OIL_WELL_PUT_INTO_OPERATION_IN_JAFARLI_FIELD-577776

Gobustan Exploration and Drilling Department of the State Oil Company of the Azerbaijan Republic (SOCAR) put into operation a 37th, 3987-meter deep oil well with the capacity of 22 tons per day drilled at the Jafarli Oil Filed, SOCAR press service announced.

.........
as we know 22 tons per day, is a capacity of 150 barrels of oil equivalent per day.

It wasn't producing anywhere near that in 2016 when zenith took over.

they put an ESP in C34

gone blue with some large buys

C-37 was first drilled in 2008 by SOCAR to a depth of nearly 4,000m and produced at a rate of just 5bopd following the installation of an electrical submersible pump.

It was producing at 5bopd when zen took it on.

from the prospectus ..november 6th 2019...

Current production from the Muradkhanly and Jafarli fields is approximately 234 STB/d from 32 active wells

Website says 270bopd - looks like they have moved up a bit since the prospectus was issued.

lol V111jas.

Yes - happy xmas and good new year to all.

from AAOG rns....

In the meantime, the Company is managing its creditor position and has sufficient capital to allow it to continue as a going concern until at least the beginning of February assuming receipt of the £150,000 owed by Anglo Tunisian Oil & Gas Limited (of which £50,000 is to be paid to the Company today with the remainder due to be paid by the end of this month) and no unforeseen claims.