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dimmock said "later this month" for zj40 drill, which triggers the contract.

storing rustavi oil, whilst negotiating selling through black sea for better netback.

just made a sale of oil from norio/satskehisi and been using the penetrator tool to get past damage done during drilling in soviet times.

malcy was all over zenith a while back, singing its praises, having been out there, then it all fell flat and nothing happened. Malcy went quiet on zenith then.

I wouldn't take what he says as complete gospel

just block

Not really that worrying mike. They have updated on it already and PH has indicated that this process can take from 90 to 120 days. We cannot expect daily flow rates to be reported from one well.

I have heard all I need to know about 16az for now. What I am looking for next, is the gas offtake completed and sales underway, with an rns later on, stating that 16az is flowing oil at xx bopd and gas at xx mcfd.

38 is where I am looking now.

600k share trade shown up at 7.75p

liquidity dries up in august across the board, so not entirely surprised by the action of the share price.

Good to see they are going to do as much as possible at 38, with the A50 workover rig, before moving the zj40 on site. The contract officially begins at the end of september for this zj40 rig and can be triggered early if they decide to get the zj40 earlier, however, the clock on the contract does not start ticking by using the A50 rig, which has been made available for immediate use.

makes sense to me- this will ensure the zj40 spends a little time as possible on the task and can then be moved to the next job sooner, which utilises the 12 month deal in an optimal manner.

business as usual update - performance as expected in SA, ghana sourcing issue, however, some good progress at kili with legacy issues.

tks madmanrob,

16az has set the scene and whilst norio and satskheni are on the back burner, paying for themselves with current production, it should not be forgotten that, after a few more wells have been put on production at WR, we are likely
to see these two fields get some focus as well

i would rather see 16az at 500bopd plus gas for years, followed by 38 doing the same, giving good clarity over production levels, as far out as possible, rather than flat tap the well at 1100bopd all day long, only for it to collapse after a few weeks or months.

yep PH also said the 16az is being step rate production tested to determine the optimal production profile.

Step rate in my opinion is as it says, flow at a specified rate for a while, see what it performs like, then step it up a bit and repeat. Then step it back down to see what the profile is at the previous rate, is it still performing as before etc etc.

At ninotsminda back in the canargo operatorship days, they initially flowed wells at 1000bopd, then choked them back to 500bopd on the advice of experts, to ensure that the wells performed the best, for the longest and were able to extract the maximum amount without issues.

in the podcast paul said that commercial quantities of gas are coming out of 16az and that the quality is being analysed and payment terms being negotiated with bago.

I infer from the fact that he says "payment terms being negotiated" means that bago are largely happy with what they see and that the gas offtake agreement is almost in place.

certainly does - !

yes and highest riser of the day today, should get it noticed by other players.

yep - tks orjones - my mistake - just saw disposal and lower percentage and jumped on it.!

yep - tks orjones - my mistake - just saw disposal and lower percentage and jumped on it.!

they have put an "x" in the box which states acquisition or disposal of voting rights

They have not put an "x" in the box which states An event changing the breakdown of voting rights

miton microcap has reduced based on the information they provided to the company in their TR1

RNS showing them reducing from 5.67 to 5.49% - selling here as well as their other holdings.

miton have just notified zenith energy that they have reduced from 5.67% to 5.49% in a TR1

it is also the fact that he said they were doing oil first, then moving on to gas, however, had got commercial quantities of gas at 16az - so it would seem they weren't really expecting to have that much gas in this well, which just adds the value here.