Member Info for SEA7

just scroll the page down - it is displayed - no need to download pdf

bots..

full version of that paper...

https://www.academia.edu/6975892/Rehabilitation_Plan_for_a_Mature_Oilfield_OnShore_Azerbaijan_Working_Both_Ends_of_the_Spectrum_Russian

yes , a definite over reaction by the market on what is essentially a positive rns. From an IR point of view, they have managed to ensure the market misunderstands it completely.

They will be providing the next update on c37 soon, once they have a stabilised flow rate.

every one read that szendro and it is a bit much to think that we did not read the rns - we read every word and know exactly what it says.

yeh - probably true zeb- most will simply dump the stock at the news, profit or loss!! and no hedge.

that was my point zeb - plenty took positions ahead of the results and dumped yesterday, exacerbating the drop. Others will have bought in, hoping for a bounce and will be selling out, due to it not unfolding as planned.

volume will dry up and LTH will see where it sits afterwards.

There are plenty of players whose strategy is to go long a stock like zen and buy actual shares, which is due to announce drill results, with a corresponding short in place as a spread bet to hedge the position. Throw on a 5% guaranteed stop and if zen delivers the long pays and the short closes with a 5% loss. If it doesn't deliver, close the long immediately and let the short run on.

won't affect the share price, though as the short is synthetic, although closing the long will and add to the down ward pressure.

so yes, traders and other shorter term players are to blame for the extent of the drop, however, the result at the well head is responsible for the direction of travel, regarding the SP.

We had the initial drop and sells, the price moved back up, however, as there is no share price trigger due in the short term, there is little buy side support, hence the outsized drops on the low volume today.

some may have been expecting a bounce, however, that was never on the cards with the result being below the expectations of traders and some on this board.

The stock is likely to drift now until we get that spud announcement for c30 - and the market is expecting zen to take its usual amount of time, to get the rig to the site and get going.

zeb - andrea is thinking of the future, not just the one well. The rig was EUR 2.25M.

Over a ten year plan that is EUR225K Per year or EUR4000 Per week.

Block is paying $2055 Per day for the ZJ40 under contract for a year. That is $14385 Per week.

this will have impacted today as well....

The Settlement Shares and Conversion Shares will rank pari passu in all respects with the Company's existing common shares, and it is expected that Admission will become effective on October 3, 2019.

there are quite a few chunky buys of over half million shares a time printed this morning.

yes AJ - that is in there as the proverbial disclaimer.

Once they finish testing, the well profile may dictate that 80bopd is the optimal level for longevity and well integrity. Could be 100bopd, could be 50bopd - we do not know at this stage. They are fairly confident of "upto 100bopd".

They may also be conservative in their approach - so as to not "over egg" the result either.

whilst they have skimmed over the wireline logging for the UC zone in the rns, we should remember that C37...

pre intervention - 5 bopd - netback about $73k per year
post intervention - up to 100bopd - netback about £$1.5m per year.

That is a success in anyone's book.

we need three things now -

confirmation of the actual daily rate of oil
outcome of the investigation into the liner system.
spudding of c30

seen it before!!

dump the prices at the open on anything less than a million barrels a minute in the rns, watch all the traders rush for the exit and other panicky holders, wait till the volume slows after the initial rush to the door and then start moving the price back up again, annoying those that sold in the heat of the moment.

This is a successful result that is proof of concept for the drill rig and the crew. The data has shown to be reliable, the well is potentially going to be 20 x its previous level and there is an issue that can be revisited at a later date, once analysis is undertaken by the manufacturer of the liner hanger.

They are moving forward to c30 with greater confidence in the datasets they are using.

Andrea said in that interview yesterday that the current cost is $19 per barrel and that current production covers all costs, with a bit of profit - not much. He said zen is reliant on debt financing and equity issuance to cover the costs of the drilling programme until they start getting the cash in from the oil when the drilling programme delivers further results.

carrying very little debt now, covering costs, looking at probably 100bopd added to the production levels in the short term and onto the next well.

this well was 5 bopd before intervention.

They have gained a greater understanding of the field.
The issue was not zen related and they are investigating it with the manufacturer. They plugged that part and once they have some idea, can potentially use other kit to rework that part of the well.

If they get upto 100bopd then this is 20x previous production levels. This is a good result, despite some issues

50% water cut means 100bopd and 100 barrels of water per day

yes - I agree SimonT - there are only a handful of seconds between trade times, which is quite often the giveaway.
T20 rolled over - cost them £30 on the spread by the looks of it.

close at 4.895p - reopen at 4.9p - £24.7k close, £24.73k open - broker made on it

wasnt' me, but I did add today at under 5p

definitely !!