Member Info for SEA7

bear - no error on tr1 - the percentage shown is the holding as at the last notification. Since that notification the raising of equity has diluted them down to 6.11%, however, they did not issue any TR1 notifying the change of holding as a result of the raising.

Miton were in the original listing and If I recall were subject to a 12 month lock up. That ended in june of this year.
They are selling from stock they had at 4p.

Just in case anyone wonders why they didn't sell at 15p - 17p - I don't think they could.

They have subscribed for £2.5m of shares in the africa oil and gas raising. I will be surprised if they hold them to long, with riverfort and YA global with their convertible confetti share loans joining in. Death spiral financing for aaog if you ask me.

Miton are adjusting their porfolio and booking damn good gains.

creates negative sentiment though.

Market is now unsure as to whether they are exiting completely or not. The buy side will pull back now, as there is the possibility of an overhang depressing the stock. Will any good news, get heavily sold into by miton, as their exit selling increases.

Have they finished selling or not?

Chances are, this will open down tomorrow. Its a bit of a slippery trick, issuing an after hours rns, in the hope no one will notice it before the open tomorrow.

after hours rns - miton down from 9% to 4%

typical - didn't pick up the right link - oh well, there is pictures anyhow.

https://twitter.com/zenithenergyltd?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

c37 debris.

could have been a ledge, sand, mud or other deposits.

yep and if sentiment towards zen was better, the fact that we are simply deepening an existing producer, that has had a blockage removed testing another zone and testing a large, previously undiscovered structure, would have had the price a lot higher than where it is.

they were using core samples that were over 30 years old, well data that was incomplete and inaccurate. Some wells hadn't been on production for decades. The twelve well workover plan was provided to them by socar and not by their choices.

this is a completely different strategy to the previous one. They are leaving the old soviet era wells until later and focusing on wells that are newer, have better datasets, production profiles and they have done some 2d and 3d over the areas, hence the newly discovered structure at c37.

can you imagine what will happen to the share price, if the fluids in that 100m thick, 3 sq km structure turn out to be hydrocarbons, with a very large naturally pressurised well.

These fields have a history of large compartmentalised structures that pour out oil. There are plenty there and this could be a big find. Hence the very big rig and careful planning.

Do not forget, the last well workover plan was provided by socar to zenith, so they will be heavily involved here. Thankfully andrea doesn't get to do this alone.

c37 was producing 5bopd, as you say. They cleared an unexpected obstruction, which has probably been the reason why it was only 5bopd with artificial lift. This well, once deepened, could be producing from three separate zones. One recently cleared of an obstruction, the first deepened section and the new 100m thick, 3 sq km, newly discovered structure.

yes, there is a buyer in the market - the bid has been offering a premium this week.

yes, sinopec or China Petroleum & Chemical Corporation are clearly aware of the developments in georgia and are probably quietly watching with interest.

I see that sinopec is printing block energy rns in china...

https://translate.google.com/translate?hl=en&sl=zh-CN&u=http://www.sinopecnews.com.cn/news/content/2019-07/04/content_1755930.htm&prev=search

for a small company - its getting some worldwide coverage.

yep thanks - either way, we are about to start deepening one of two wells and these are all in the neighbourhood of wells that have produced a good amount, at least initially.

no edit button - C30 would, based on the information in the cpr only have produced at an average rate of 0.45 stb/d if it was producing continually from 1986 to 2016 - not saying that it has been, as i do not know, when it stopped producing or if it still kicks out a barrel or two a day.

tks PP, I recall that from the presentation as well, which is why I posted it from allenby's note.

Did they drill two wells in 86 - possible. Is one of the reports wrong, possible.

If you look at the map of the wells in the CPR - C30 Is adjacent to C37 (to the west), C22 is south, south west of C37 - similar distance though - so which one are they referring to.

C22 has produced 570,000 STB since inception to 2016 - this equates to an average of 52 stb/d. If C30 was also drilled in 1986, then over the 30 year period to 2016, it has produced an average of 4.5 stb/d. (Assuming they both continually produced until september 2016 - the date that I can infer data to.

Nope - page 5 - says C30 Initial production of 700bbl/d when drilled in 1986.

the initial production rate from C-30 was 700bbl/d when drilled in 1986

I do not recall if the allenby update was posted on here - dated 04 March 2019..

http://www.allenbycapital.com/research/research-zen_9_2081535641.pdf