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I think that after so many attempts and set backs, that this success has not sunk in yet. This should get the stock to the 5p or 6p region without any problems.

c30 is next door and we should be drilling within a month or so.

Zen mcap is £9m (or was!!)

revenue from this well is £4.5m pa at 285bopd - plus continuing revenue from the other production across the field.

i think it will be hard to get shares first thing - there is already a trade gone through for 3p at 07.42am - gonna go up real quick I think

This is great news and there is the possibility that it will increase further.

thanks Ageos,

It is good to see the clarification of the fact that these oil reservoirs have been sat in place for many millions of years and all we are doing is trying to see through the earth, many thousands of metres down, hoping that our geologist is able to interpret the data with enough knowledge and skill that we hit pay dirt when the geologist says "drill there"

you can have the best drill, the best team, the best management, a large cash pile, quality data and still get nothing of commercial value.

I invested in this and Block based on probabilities - onshore, proven fields, 100% cos of finding hydrocarbons and historic production to back up the locations. Most wildcatters are on a COS of 20% of finding hydrocarbons, if they are lucky and quite often have no cash to drill a second well, if they get a duster.

Of course execution risk is always there and zen are no strangers to taking their time and making mistakes, however, that is offset by the higher COS of commercial production in my view.

nothing has changed since the rns. - this just selling outweighing buyers - nothing more.

Just because some are selling and depressing the price doesn't mean things have changed at the various well heads.

AC will be focused on operational matters, which will ensure the share price moves up, when further positive results are announced.

this is definitely one of the lowest volume days for months.

They should be de-rigging now...

from the rns....

The Company will now perform a series of technical inspections on its 1,200hp drilling rig prior to it being rigged down in preparation for mobilisation to the next drilling location in the Jafarli oilfield, well C-30.

sure is zeb !

Blocks strategy... (they have been promoting the gas since day one, along with the oil)

We have secured funding for a 24 month programme of additional sidetracks and gas appraisals designed to unlock the field’s proven reserves of 0.9MMbbls, and contingent resources of 38 MMbbls and 608 BCF.

Next 12 months
Drill horizontal sidetracks at three West Rustavi wells analogous to 16aZ to scale up oil production and fund future capital programmes

Appraise two of the field’s existing gas discoveries and drill a new gas well
Expand the field’s facilities to increase production capacity to 4,000-5,000 bbl/d
Acquire a 3D seismic survey to provide a critical understanding of West Rustavi’s subsurface
Continue existing Norio work programme and drill a new sidetrack

Next 24 months
Bring West Rustavi’s gas reserves into production
Continue oil development across all our licences
Secure additional licences in Georgia and the wider region

scooby - blocks cpr

http://www.blockenergy.co.uk/wp-content/uploads/2018/05/Block-Energy-CPR.Gustavson-Final.051418.pdf

page 95 section 7.4

worth asking though madmanrob - you never know in this market!

the last 20% might take a month - just because they got 80% done quickly doesn't mean the last 20% will be at the same rate.

madmanrob- hydrocarbons are gas and oil, so I would say yes.

Since these are fields with established hydrocarbons, there is a 100% Probability of Success in finding hydrocarbons in the Chokrak, Maikop and Sarmatian in Norio, the Upper, Middle, and Lower Eocene and Upper Cretaceous in West Rustavi, and the Maikop and Chokrak in Satskhenisi. The main risk in both of these areas is commercial. The probability of establishing commercial production of all the Contingent Resources is estimated at 75%. The Probability of Success for the Prospective Resources in the Maikop at Norio is estimated at 60%.

people getting upset at IG in the comments for taking down the interview...

https://mobile.twitter.com/IGTV/status/1179390594721992704

from 2nd October

no - I do not have permission from him to paste his article here. He quite often posts on this board also, so he may be around to answer your questions.

gary newmans piece on share prophets is very bitter - and to be honest he lost me at "Justin the Clown"

not doubting some of what he says, however, he comes across as a disgruntled ex holder ranting about the stock, rather than providing an educated view of a potential investments current, past and future narrative.

Talking about the newly commenced deepening operations at C-37 well of Jafarli field, Cattaneo said that this deepening will bring two results: achieving the production similar to C-22 (700 barrels per day or more) and then going deeper.

"As soon as we finish C-37 in a month, we will go to C-30 in 15 days. We will announce soon the preparation of well site. Then we will together with SOCAR select the exact location of Zen-1, which will be very much influenced by the results of C-37 and C-30," he added.

https://caspianoilgas.iteca.az/en-opennews/7786.41.html

https://www.azernews.az/oil_and_gas/143577.html

Azerbaijan's onshore oilfields to produce 7.4 mln barrels of oil

Meanwhile, the Neftchala field is expected to increase the production by 1.7 percent to 0,235 million barrels, Muradkhanli-Jafarli-Zardab block of oil fields - by 1.64 percent to 0,122 million barrels.