Member Info for SEA7

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

civil works underway for arrival of BD260

second time the offer has hit 4.3p, then a few sells, with the offer back to 4.1p - note the bid has stayed at 3.8p so far, which is its recent high and despite the buying, has stayed below the listing price of 4p.

It is trying to move up

Yes they do have to be at 1.5 times the production at the commencement of the agreement, by October of this year.

Whilst it will mean they are in breach of the agreement, if they have not reached steady 1.5 times production by this time, it doesn't mean that it would immediately mean someone from SOCAR going "times up Andrea, hand over the licences and get your people off the site"

As these sites have been virtually dormant for decades, with lip service provided and no one really interested in them, due to the complex geology and compartmentalised nature of the reservoirs, then it is likely that SOCAR, will quite happily allow zenith to continue, if they can see considerable work done, investments made and the fact the the fields are being worked on, even if an arbitrary figure of production was not reached.

currently mid drill - results imminent - updates due. Next three to four weeks extremely busy for block

Paul says - "interesting readings from the well at rustavi- were definitely in the right place"

yep - have a good weekend ADT

someone just picked up 833k shares for about £25.5k

civil works..jafarli

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

ahh someone had to say it!!!

Obviously the market makers were asleep - It has taken them an hour to mark it down to the placing price.

I was wondering why the price hadn't budged.

The Cpr shows that the sidetracks at West rustavi indicate...

P90 - 30bopd
most likely - 360bopd
P10 - 750bopd

thanks ezhik,

Norio news would be good.

Not unexpected, to be honest.

I will now be expecting the following, in an rns a bit later on....

due to the lack of additional tenders from drilling contractors and the uncompetitive nature of the bids submitted, it has been decided not to award the contract at all and to deploy the BD26O to well C37 to give the rig operators a real and simpler target to test out the rigs capabilities, along with completing the deepening on C37 at the same time.

We do realise that this will push back the deepening of C37 until mid march at the earliest, however, we wish to make sure that zenith is getting value for money and we would rather wait than pay too much.

The summary of Net Pay thickness for the West Rustavi reservoirs used in the reserve and resources estimates is in Table 5-4.

Table 5-4 Net Pay Thickness for West Rustavi (feet)

Reservoir, feet.............Minimum......Most Likely....Maximum
Upper Eocene................33..................75................98
Middle Eocene............... 72................ 180............. 360
Lower Eocene................164.............. 198.............. 262
Upper Cretaceous...........52............... 130.............. 360

Seems interesting!!

thanks - seems to be working again - maybe they were updating it!

i note that Blocks website won't load at the moment.

website back up I see after being down for hours.

website back up I see after being down for hours.

Looks like someone rolled over a 325k share trade. Prices of 3.90 then 3.91.

someone has to be selling stock for a buyer to purchase it, whether it be a trader, market maker or investor.