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no he said choke size, not well production level would damage the well if it was less than it is.

Doesn't mention the current production level on that presentation though does it - facts, my friend, facts.
Mentions current production of 6 bopd at satskheni

Why has the 700bopd been omitted then.

toploader - never went near FRR - researched it briefly ages ago and walked away.

the information regarding 700bopd was already disclosed and as such they could simply have confirmed that it was still accurate - nothing would have changed.

The well can drop from 700bopd to 1 bopd and still be considered as producing - they do not have to rns a change in the rate of production - if it hasn't already been taken offline to remove it from the temporary test facilities it was on.

They omitted this production figure from the May presentation, which is after the april update and contained references to the £12m placing.

with such a stunning result from the test and then stating 700bopd, you would have thought that this fact would have been front and centre in their minds and in the presentation - but no, it is not there at all and when questioned by email, the company dodged the question.

I would take notice of that little point. Details toploader, details - missing details to be precise, which just raise more questions.

however, top loader, they manage to miss out the west rustavi production fact from the presentation, yet remembered to put in the 6 bopd from satskheni.

The presentation is dated in May - after the rustavi update and specifically refers to the £12m placing.

I note they wouldn't confirm the 700bopd in their response to you.

The april 16az update said ....While the Company addresses production capacity and offtake requirements, the diameter of the choke has been reduced as of 13 April 2019 from 1/4 inches (~6 millimetres) to 1/8 inch (at just over 3 millimetres, the smallest size possible), scaling back production from 1,100 bbl/d to a rate of around 700 bbl/d.

You will note the use of the word "around" 700bbl/d.

The company presentation, does not shout out about producing from 16az at any current level - it merely states...

Productivity of flagship West Rustavi field demonstrated through exceptional test production rates of 1,040 bbl/d following horizontal sidetrack.

The same presentation tells you exactly what norio and satskhenisi are producing, however mentions nothing about current production at 16az.

I would have thought it would be in that presentation if they were still pumping.

thanks Ezhik,

I thought that if it arrived today, they spent some time checking it all over and got ready to install. Maybe make a start first thing tomorrow installing it, which could easily run into friday. Unlikely they will start on a weekend, so anticipating monday at the earliest for spud.

the number of shares held hasn't changed - just notifying change of holding due to placing.

it is georgia oil and gas notifying change of holding.

a buy trade of 1 million shares a 3.78p showed up from 14.05.

The prices then were 3.6p to buy.

Yes, do not see why that could not be the case.

we could quite easily have a good rns like that on monday morning.

I am expecting spud rns on monday

this was to be expected - zenith is planning for the next 25 years and these first few years are the formative years for the company.

Sure the workover plan didn't go to well and at least they realised that and have taken corrective action. The workovers were meant to delliver funds to ensure that the purchase of this rig and other plans were being funded internally without the dilution we have seen. The change in strategy has meant delays and dilution, however, that is in the past now and we
are about to put into operation, the actual drill bit again.

yep - drilling in a well that was producing oil already, to deepen and then move the rig to the next one - no daily rental rates on the rig and we have a high COS due to this well already a proven producer - we are just testing a new zone.

Up to 3rd on the risers board. Should get the stock noticed as well.

a reasonable expectation should be closer to a 5p share price for the drilling of this first well.

in ground value has so many moving variables.

I have seen some M and A at $6 a barrel in ground and some higher.

Zen are starting the drilling, the oil is there and I would expect to see us move towards a $1 barrel value in the mcap in due course. That puts us around the 6p to 7p price range.

That in my view is reasonable at this stage. If they demonstrate that they can deliver with this rig and their new geological interpretations, then we would see those reserves move up in value.

$2 a barrel is only 12p on 31m reserves

zen has moved to 6th Highest riser today, so far.

31m+ reserves, currently valued at less than 33p a barrel. Without the current production revenue taken into consideration.