Member Info for SEA7

ageos,

This article from 2012 refers to gravity magnetic anomalies produced by oil and gas indicators in the jafarly area...

https://www.researchgate.net/publication/231814502_Detailed_gravity_magnetics_successful_in_exploring_Azerbaijan_onshore_areas

figure 4 shows an an oil deposit in the jafarly area with two wells. This article details that gravity - magnetic application for HD prognosis were positively estimated in jafarly where drilled wells confirmed the presence of hydrocarbon deposits.

In my view they should be looking at a positive result from the drilling, however, will they be using applications such as this in their planning. Do you think that the above is with merit.?

The drilling will take maximum three weeks.Then the company will proceed with deepening of C-40 well. Thus, the results of two well deepening will allow to decide on where to make the first fully new well.

https://avim.org.tr/en/Bulten/CANADIAN-OIL-COMPANY-TO-LAUNCH-NEW-DRILLING-RIG-IN-AZERBAIJAN

thanks also ageos,

i have been able to buy at 2.79p all day, however, the discount is gone and I can only get 2.9p now. This represents a price improvement of 4% - which is not shown on the displayed bid/offer

yep ezhik - I got slated over there when I said it was going to single figures - the bid then hit 9.75p, however, has been above 10p, since.

Drifting back down though!!

cattaneo was questioned over the time it takes him to do things, when he was in charge of pex over 20 years ago. His response - I know we are slow.

Nothing has changed with cattaneo.

still here!

not posting much lately.

Been watching BLOE - (sold at 15.66p) waiting for boredem selling to get back into single figures.!

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

final stage of shipment - apparently.

of course bedex, the unfettered ramping is unsavoury to say the least, especially as you are promoting your own position and wishing weaker players to buy in at the highs to keep that buying pressure going, whilst others are unloading by the bucket load and banking gains, ready to rinse and repeat.

I wouldn't try to sit on the moral high ground in this game bedex, as there is none.

hillybilly - I trade both these stocks as well and others that I do not post on, purposely, as I am accumulating quietly.

I have no intention of taking a new position in bloe until all the placing shares are issued and in play.

I have traded this three times so far, with three banked gains. As soon as that very large placing rns came out, I stepped back. I know what happens on aim stocks in these situations - and watching the wild eyed, poorly researched, unfettered ramping by the usual suspects is "in line with expectations"

I do not mind if you take a view on me and the posters on the zen board, however, most of us have been trading this as well.
not all eggs in one basket and all that.

yes and whilst the geology is complex in zeniths areas, they are learning more and more and they are nearly at the point of the first drill of the new strategy starting, in a well that is already producing, had an obstruction and a large, newly identified structure underneath it.

This is a learning curve drill job, with a potential for a very decent pay zone, if it is a 3 square km, 100m thick oil deposit.

they are in an oil pool already, which was producing 5bopd with an obstruction - they have cleared that and will drill into this 100m thick, 3km square structure to verify its fluid content ...

we wait patiently.

not quite -just decided to go deeper - it was part of the overall plan...from the rns in october 2018

· The Jafarli field is a dip-closed anticline, located in the south-east tail of the Muradkhanli anticline in the Yevlakh - Aghjabady depression.


· Historically, the primary productive formation in the field has been the Middle Eocene, consisting of volcanogenic clastic layers and fractured marly limestones draping and lapping the Mesozoic underlying structure which is identifiable in the 3D seismic surveys performed in 2008 and 2011.

· The identified structure measures approximately 3 square kilometres with a significant degree of closure indicated by a thickness of approximately 100 metres.


· The study recommends that well C-37's total depth, 3,987 metres, be deepened by approximately 200-250 metres with the following two objectives:

1.) Penetrate sandstone layers found in the adjacent well C-22 where historical well data indicates that initial production was approximately 700 barrels per day from the Middle Eocene formation upon drilling in 1986.

2.) Penetrate the Mesozoic (Upper Cretaceous) formation, which has not been previously tested in this structure to verify its fluid content. The new Cretaceous play could potentially unlock valuable new prospective exploration activity to be performed in the Muradkhanli and Zardab

mikes linked in pages says...

Michael Palmer
Retired with a smile on my face
Azerbaijan

Retirement
None
July 2018 – Present 11 months

https://www.linkedin.com/in/michael-palmer-0a555aa

remember - zenith is drilling in areas...

No drilling has been undertaken for 15 years despite the substantial remaining reserves

Well 130 drilled at Muradkhanli Field is a good example. Drilled in 1985 (15 years after first production), initial
production was a modest c.100bopd, however within 24 hours production increased to 10,000 bopd as an
uncontrollable gusher. Local farmers quickly built a sump and the well returned to normal production 25 days
later. It then failed 1 year later having produced 650,000 barrels of oil.

https://optivasecurities.com/assets/dist/files/zenithenergy020217.pdf

yes - it would appear that they are missing me - probably looking to gloat over the unexpected rise.

As usual it is the same suspects that were noticeably absent as the stock fell and return on cue, as the stock moves up.

I had to laugh at some of the predictions and revenue estimates some of them are chucking around - I guess not one has read the PSC's -still never mind.

Yes, there is definitely a few armchair oil drillers on that board.

Not much doing here, apart from a wait for news.

zeb - the price needs to be inflated to ensure that shareholders vote the right way at the meeting. If the price is on its arse by then, they may not like the idea of all this stock being issued.

Plus the fact the full on ramp brigade are out in force on both boards, ensuring that the placing stock is cleared and the market is then pumped and ready for the next distribution of confetti shares.

You are right - the stock shouldn't jump on a TR1 that was known about in the placing rns - it was well communicated that amati had bought up the firm placing.

it means they aren't getting any revenue from the well for weeks and probably haven't been for a while.

People on these boards think they are generating 700bopd as indicated in an earlier rns, yet paul infers as an off the cuff comment today that it isn't even pumping.

That is practically misleading by omission.

in the interview paul talks of 16a producing from the test facilities, then says once production and storage upgrades are complete - we will be back online again.

I infer that to mean - the well is shut in at the moment, whilst they get everything upgraded, then back online within weeks, not months.

Please check for yourselves 5 mins to 5.25 mins. in the interview.

If that is the case, then they are currently back to 60bopd and loss making again, for a few weeks.