Member Info for SEA7

well, after the last rns rode through town, creating the excitement that it did, the tumbleweed begins to blow across block energy again, as the excitement dies down and the folk of block town return it to its sleepy hollow state.

no news, no posts and only four traders playing today so far. Not even enough energy around the stock to create a small dust whirlwind.

anyhow, we are overshooting to the downside now as people see lows being hit and dump their stock also, creating more selling pressure - self fulfilling drop

there is a view of some selling prior to xmas anyhow - as the santa rally which only appears to have happened as a "Boris Bounce" comes to an end.

Yep - I always use reports like theirs for any additional tech info or historical knowledge that may not be readily available.

Their opinion is just that, an opinion and as they were paid by zenith to produce the work, it is biased and not truly independent and as such cannot be treated with any real credibility. I always find the share price targets in these notes laughable.

extract from the note...

Zenith Energy is a research client of Align Research. Align Research & a Director of Align Research hold interests in the shares of ZEN.

and...

Our “Conviction Buy” recommendation is derived from our conviction in either taking equity as payment for our
research services, or applying our fee to the purchase of equity in a covered company whilst absorbing the cash
cost of our freelance analyst payments.

........

not exactly independent and unconnected research.

sarge - yes I know it is old news, however, someone posted a link to coverage by align and I felt it appropriate to post the cessation of coverage note, that was issued after that update note.

magtalo... well there we are..AC's business model won the final in the apprentice - lol.

magtalo - no I didnt' - question is, how did the scenario play out on the apprentice... if it was a success, then perhaps this is a good sign that we may actually get somewhere!

http://www.alignresearch.co.uk/cpt-company/zenith-energy/

Cessation of Coverage

This gas is supplied to the population of Sagarejo through the pipeline for 25 USD per 1,000 cubic meters, which is an unrealistic price. The company plans to increase the price for the population before the end of the year.

Canargo had heavily relied on the Kumisi deposit, from which the company expected to extract a substantial amount of gas. In 2006 the company even signed a contract with the government of Georgia to sell the gas extracted from this deposit for 43 USD per 1000 cubic meter. Simultaneously, the construction of the gas pipeline from Kumisi to the Gardabani gas generation blocks has been decided. In 2006 a borehole was dug at Kumisi, but has not achieved noteworthy results. However to get comprehensive and viable data from one exploration well is unrealistic if not impossible.

https://www.transparency.ge/sites/default/files/Oil%20and%20Gas%20Potential%20of%20Georgia_ENG.pdf

from canargo's loan agreement documentation..feb 10th 1999

https://www.lawinsider.com/contracts/g2mTUtVPPRTya2bUZnnGC/canargo-energy-corp/convertible-loan-agreement/1999-02-12

page 20

9.10 R16

In December 1997, a cement plug was set at 2184m. Perforations were shot over the interval 2181-2114m. Oil and water flow from the well is 100 bpd. The current water cut is 75%.

The source of the water must be determined and then isolated by a cement plug. As with N96 logs thermodebitometer and temperature logs will need to be run to identify the water zone. A cement plug will then be set to isolate the water production. The expected oil rate is 80 bopd and is expected to cost $US 30,000.

9.11 R51

178mm production casing is run to 2055m and the well is perforated over the interval 2047-2018m. The well produces oil periodically in the past but is now shut in. This well is up dip of well R16 and will be required to increase our understanding of the West Rustavi field for future development.

The well will be perforated over the interval 2018-1970m. 75 bopd is expected from this operation. The estimated cost is $US 70,000.

Apart from this, another reason why you should consider setting up a business in RAK free trade zone is that having a physical presence in the Emirate builds trust among the natives and helps in forging long-term customer relationships and obtaining trade contacts in the UAE.

Apart from this, there are many incentives enjoyed by investors in RAK free zone company formation:

No tax on personal or corporate income
No foreign exchange controls, quotas or trade barriers
No customs duty on import, export or services
Hassle-free and business-friendly legal framework and company laws that ensure the security of investment
Government-sponsored incentives for investors
100% ownership
100% tax exemption on all commercial levies for import and export
100% return on capital and profits
Business-friendly environment and easy process to set up a company
Access to all large airports and seaports in the UAE

not likely - AC is still running that little sideshow.

On November 28, 2018, the Company finalised the transfer of the legal ownership of the oilfield services subsidiary company, Zena Drilling Limited (“Zena”), incorporated in the Ras Al Khaimah Free Trade Zone (“RAKFTZ”), in the United Arab Emirates (“UAE”). Zena was incorporated on July 29, 2017, by Mr. Andrea Cattaneo as probono trustee of the Company.

This process took time as the UAE is not part of the Treaty of the Hague and any step requires legalized translation in Arabic language.

and the other employee is...

Ramil Aliyev. Electrical Site Engineer - Zena Drilling.

in addition to the two I mentioned, we also have...

Ogtay Ismayilzada
Deputy Director at Zena Drilling

he is an accountant who was at Haliburton and General Electric prior to zenith and then zena drilling.

zena drilling subsidiary

we never hear much about the subsidiary itself...

Samir Hashimov - deputy director - used to work for caspian wireline services -been with zena since march this year. His main topics are lithology and collector properties of Miocene rocks which defined by geophysical ( open hole, cased hole)
studied in azerbaijan and has excellent qualifications, including master in engineering for geology, geophysics and geological and geophysical engineering.

Kamal Mohanatov - tool pusher - Using different size of Sperry Mud motors & M/LWD tools, Using Directional Program Compass, using Reports and Calculations program Insite. Ability: to drill and supervise S type, J type, Vertical wells, Kick-Offs, Sidetracks, to follow well plan at all time, to check BHA tools pre and post runs, very good communication with customer, following all safety procedures. He was at Gazprom and Russneft for a while. Obtained Masters degree in oil and gas drilling between 1984-1992

There is another deputy director and one other - I do not have a linked in account and only got to see the above two before being given the log in page.

thanks all for the kind feedback on my posts.

jaytee - i presume you are being sarcastic with your comment - re closing down the gas part

which well would that be makavelli - user since today - one post made.

The update doesn't mention water.

water is a common feature in wells, along with oil and gas - what is your point - it is not acting like a garden hose off the side of the house - pushing out water only.

always a reason to expand!

https://www.tetratec.com/products-and-services/production-testing/surface-well-testing/

Not sure Elhank on who supplied it, however, probably purely coincidental, however, this copy of Oilfield technology from July 2019, which has a small article on block energy on page 5, has tetra tech on the front cover.

Tetra tek supply well testing kit and are based in texas..

https://d1tp9je03a4iqr.cloudfront.net/preview/oilfield-technology/2019/OilfieldTechnology-July-2019-Preview.pdf