Member Info for SEA7

might be worse than you think- you do not have confirmation of that.

The rns said that davids position is with effect from 1st sept.
The recent rns, andrea said new operational management in september.

Just because we haven't heard anything doesn't mean he didn't start work.

I cannot understand how you can say that Andrea must go? he is chair and a larger shareholder now than he was a year ago. His position is more entrenched, rather than at risk.

cannot deny what you say regarding the delays, I just do not post about it every day.

As part of Zenith's field rehabilitation programme, the Company has decided to replace 4,000 metres of line pipe across its field area in Azerbaijan by the close of 2018. Delivery of the first batch of line pipe is expected to take place within the next 14 days. The line pipe replacement programme will begin immediately upon delivery of the materials.

The installation of new line pipe is expected to yield the following benefits: minimising oil loss during transportation from the well to Zenith's field oil processing and storage facility; reducing restrictions to oil flow from active production wells, a lowering of line pipe pressure.

as part of its ongoing field rehabilitation and infrastructure modernisation activities, the Company plans to begin the reconstruction of a 2000m3 oil storage tanks during the month of September. It is expected that further storage tanks will undergo reconstruction work later in the year.

Work Programme

The Company is currently in the process of revising its work programme with its new operational management. Once this is defined, Zenith will provide shareholders with a clear summary regarding its operational strategy for the rest of the year 2018.

New technology has enabled some of the 11 new electrical submersible pumps to be installed at a depth of approximately 2,500 meters. All of the previous electrical submersible pumps installed in Zenith's field had a maximum setting depth of approximately 1,500 meters.

-Significant reduction of the production decline rate, approximately 12% per annum, and minor production increase (57 bopd) across these 11 wells.

-Stabilisation of production achieved through the increased reliability offered by new ESP technology. Previous ESP technology often failed causing production downtime.

On May 18, 2018, Zenith had announced that it had planned to increase the number of new electrical pumps installed in the Muradkhanli and Jafarli oilfields to 12. However, the Company's field team has since pulled one of its newly installed electrical submersible pumps on account of poor performance that rendered the installation uneconomical.

Considerable progress has been made in many areas to ensure that we now return to the Zardab field with the full capability to achieve the results that have eluded us thus far. The geological work performed during recent months has significantly enriched our understanding of the field's geology, and further substantiated our confidence in the transformational potential of our Azerbaijan asset.



The arrival of new operational management in September, as well as some of the most powerful drilling equipment the field has seen in the last twenty years, means we shall be positioned to fully execute our work programme.

The months ahead are set to be hugely exciting for Zenith, and I hope shareholders will soon be fittingly rewarded for the loyalty and confidence they have shown in the project since the Company's listing on

yes most are holding at this time.

- the lenders of the cash have warrants at 5.05p which are out of the money at this time. exercisable between dec 2018 and feb 2020.
The loan is primarily due to be repaid in may 2020.

The conversion price for the facility is set at 5.05p or 90% of the lowest daily VWAP of the preceding 10 days prior to any conversion request.

No requests for conversions before December 30th 2018.

They are expecting the share price to be higher than this by then, based on z21 expectations and any conversions will generate a profit for the lender on top of fees and easily be soaked up by the market - they need z21 to come in nicely or this will be suffering some unwanted death spiral type dilution, as the terms of the loan state 90% of the lowest trade VWAP - which means converting at less than whatever the share price is on the day for as long as it takes to get the full amount of the facility back.

I see lse saw fit to delete my post..

Well aj - still no solution from you as to what you will be doing to take personal ownership of the issues being faced at zenith. Are you going to do something about it or not. We are waiting to hear about it. If not, then please, give it a rest, we do not want to hear you going on about, it day in, day out. We know what the issues are - stop whining.

mike palmer - is gone - no point discussing history that cannot change is not relevant any more.

https://ca.linkedin.com/in/david-sadoway-6324602a

Davids profile above states he is a workover and completions man.

from linkedin..

Dave turned our workover operation around, and gave it the expertise we needed to significantly increase the efficiency. Through his efforts we doubled the well capacity, reduced opex, and delayed any further capital expenditures.

and

I highly recommend Dave to any company, in particular in a managerial position. He is a hardworking, efficient and honest individual with exemplary leadership and well operations skill set. Dave is also a self starter, continually analyzing the operations in progress for improvement, and planning ahead for upcoming operations.

ask the company then AJ, FFS.

We criticise constructively and engage with the company on matters. We do not cry like a child on this site.

yes - I will end up saying the same thing over and over again to someone who clearly doesn't take the hint. Perhaps AJ, the poor soul, thinks we work for zenith and can actually pop over to the azer ops, take over and make everything right again.

yes - a few notice that we are at day 89 of the "within 90 days" deliver by BW robotics of the rig and are probably taking positions ahead of the announcement to capture the rise.

should be today or tomorrow at the latest, however, we shall see.

lets keep it in perspective AJ - zenith are not in control of the date of the arrival of the rig - BW are - they are an external supplier of kit. If they do not deliver as agreed, then zenith will need to inform the market, why they didn't.

At least apportion blame correctly. They have until tuesday, which is day 90 since the agreement was signed.

woody - insulting someone just because they have provided answers and clarification over some of the over exuberant posts on this board, is a childish response.

that article gives a broad outline of the listing process and its costs.

Perahps if cameron had the extra to spend on admission, then you wouldn't still be waiting for the suspension to be lifted.

Serica energy were suspended and relisted after producing a re-admission doc from scratch in 10 days. They spent more getting it done, although they did have millions in the bank.

nope my figures are not guesswork, as I have provided an article dated last year from a reputable source.

read my post first before commenting.

in that case officemanager - you need to up your game, as this low life is walking all over you with knowledge.

no i didn't weyland

office manager.. They have to apply in exactly the same way a company applying for a first time listing does...

https://www.withersworldwide.com/en-gb/insight/article/pdf/4501

The total average fees on an AIM admission depend on the nature of the company coming to the market, which affects the nature and level of due diligence needed. The base level for admission costs would normally be in the region of £350,000 – £450,000 . On top of these fees, the company will need to pay the broker's fees for raising funds (unless the AIM listing is by way of an introduction), which may be in the region of 4 – 6% of funds raised.

nope office manager - it is research and due diligence on the players in this stock - if it comes back and tanks then there may be an opportunity to play the bounce, should there be one and it is better to be informed about the negatives to protect principal, than to go in, with the rose tinted specs that a lot seem to wear.

If praise was due, then it would be heaped, however, the stock is suspended, they have no revenue, hardly any cash, no updates on finland or india, everything is late and behind schedule - so no praise is not due, however, constructive criticism is due.

who said anything about fretting officemanager.

I forgot - he is also a director at first equity holdings and first equity limited, as of last year