Member Info for SEA7

At Zardab area, use of drill stem tester for well 3 gave 350–400 t/day oil yield from the Eocene deposits. https://zapdoc.tips/economic-minerals-of-azerbaijan.html The above doc, is lengthy and contains a lot of geo data - I think the doc was posted before, however it contains the above quote, which ties in with Mikes statement of z3 producing 2900bopd before collapsing.

https://www.mccarthy.ca/en/insights/articles/canadas-early-warning-rules-get-tougher-may Reporting Threshold – As indicated in our October 15, 2014 publication, the CSA will not be proceeding with their initial proposal of reducing the early warning reporting threshold from 10% to 5%, which would have been consistent with the Rule 13D reporting threshold under the U.S. rules. The decision to retain the 10% threshold appears to have been based on concerns by some commentators about a hindrance of investors’ ability to rapidly accumulate or reduce a large position particularly in small capitalization issuers and the signaling of investment strategies to the market. Additional Required Disclosure of Decreases in Ownership – Shareholders who have met the 10% reporting threshold will now be required to report both increases and decreases of 2% or more in ownership. In addition, shareholders will be required to report when their ownership interest has fallen below the 10% reporting threshold.

from the uk listing prospectus..... Under Canadian law, any person or company that has beneficial ownership of, or control or direction over, whether direct or indirect, or a combination of beneficial ownership of,and control or direction over, whether direct or indirect,securities of an issuer carrying more than 10% of the voting rights attached to all the issuer’s outstanding voting securities,including securities (issued and unissued) that the person or company is the beneficial owner of, which are convertible into voting securities within 60 days following that date, or has aright or obligation permitting or requiring the person or company, whether or not on conditions, to acquire beneficial ownership of the security within 60 days, by a single transaction or a series of linked transactions, is required to notify their holdings publicly. As at 30 December 2016 (being the latest practicable date before publication of this Document), the Company is not aware of any Shareholders that have a notifiable interest under Canadian law.

as zenith is not incorporated in the UK, it is subject to canadian laws surrounding disclosure requirements. The uk listing authority nor the london stock exchange does not have the authority to and will not monitor the companys compliance with listing rules or disclosure and transparency rules, which the company is voluntarily observing. The UKLA and LSE cannot and will not impose any sanctions on the company for any failure to comply with any rules. Any holder who obtains 10% or more of the stock, must disclose to the TSX within 60 days of acquiring the holding. This does mean that the person who declared on a TR1 today, has done so voluntarily and is under no obligation to. He could have been building that position for months.

I could buy at 5.177 this morning, that has jumped to 5.395p now - this did happen on friday, when someone was buying behind the scenes and then a 500k trade showed up.

When the prices are low, pro's are buying. If he is anything to do with paradigm or emerson, perhaps he sees what is happening here and is buying up stock ahead of expected results. He will be in for the long haul with a holding like that.

No Idea who that is, however, there was a Director called Dean Antony Clark at merrill lynch international in 1994. Completion was in barbados. Whoever it is, they are confident of zeniths ability to deliver.

I noticed that online buy prices moved up slightly just before the close today and then a 500k share buy shows up after hours at the full offer - leaky ship maybe!!

Moc was drilled adjacent to an exploratory well M208, that had flowed 950bopd on test. plan of action. Re-perforate the zone between 4,447.5-4,483.5 metres which showed strong oil presence but limited flow rates due to poor permeability of formation. Preliminary indications are that hydrocarbon bearing reservoir may have been damaged by the use of heavy mud weight in drilling operations Increase total depth of sidetrack well M0C-1Z by 100 metres to ascertain fluid content of Upper Cretaceous formation

back in 2012 when the vietnamese agreed to develop murad, jafar and zardab, it had 77 wells running, of which 64 accounted for the production, which in 2011 was about 487 bopd. They didn't do much and they walked away. https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=37&ved=0ahUKEwiq8c76qNHbAhXnBZoKHdoVDw44HhAWCFIwBg&url=http%3A%2F%2Fsofia.mfa.gov.az%2Ffiles%2Ffile%2F20_may_2012.doc&usg=AOvVaw0rND0biphT9lZCymrVdUxV

i see haliburton gave up their two year push to take over novomet... http://www.1prime.biz/news/_PRESS_Halliburton_abandons_bid_to_buy_Russias_Novomet/0/%7BD9E90B95-6B62-45F7-B8B3-D5D433C3341A%7D.uif?layout=print PRESS: Halliburton abandons bid to buy Russia’s Novomet MOSCOW, Jan 26 (PRIME) -- U.S. Halliburton has recalled its bid to buy 100% in Russia’s Perm-based oilfield service equipment producer Novomet, Kommersant business daily reported on Friday quoting a company representative. Russian state nanotechnology company Rusnano planned to sell its 30.76% stake in Novomet in July 2016, but it repeatedly delayed the auction and increased the stake’s minimum price to 9.9 billion rubles from 7.5 billion rubles. In January 2017, the Federal Antimonopoly Service received a request to buy Novomet from Halliburton and redirected it to the government’s commission for foreign investments. Kommersant reported that negotiations with Halliburton on the acquisition that could have amounted to U.S. $1 billion started in 2016, when the U.S. company wanted to raise its share on the Russian drilling market. It later abandoned the plans mainly because of a negative reaction of the Russian government to the deal and new U.S. sanctions, sources told Kommersant. A representative of the service confirmed that Halliburton recalled its bid. On Thursday, the service’s Director Igor Artemyev said that Halliburton might be “waiting for new sanctions” and that the company “simply feel that they don’t want anything in this situation,” as cited by Kommersant. Artemyev said in June 2017 that the government’s commission for foreign investment control planned to consider the Halliburton–Novomet deal in late June–early July 2017, but it has not yet discussed the deal. A Rusnano representative of told Kommersant that the company “is open to any profitable suggestions on purchases of stakes in portfolio companies, including Novomet.” Several oil companies are interested in the Rusnano stake, reflecting consolidation in the sector, an industry source told the business daily. End

https://www.novomet.ru/assets/files/ufa2017/Corporate%20booket_NLS_2017_may.pdf

whilst I agree they have not delivered on the plans to date, what they have demonstrated is that they are putting in credible processes and procedures to address the issues and when other avenues have been explored that haven't paid off, they have moved onto another solution. This does demonstrate a sensible approach to the troubleshooting aspect of their strategy. If they were not making an effort to address things and communicate it, then I would be right there with you, running them into the dirt, however, they are not. They are working away, trying to deliver as planned, by changing strategies, when different sets of facts change the direction they need to go, to achieve the objectives. This proves they are flexible and adaptable in their responses to the challenges they are facing and the resilient to the setbacks that they have endured. They will keep going at it until they get something to cheer about, then they are likely to feel more confident in themselves. They are probably just as demoralised as holders, however, they are on the ground everyday, come rain or shine, trying to deliver, we are not.

The company is not shrinking, the share price and mcap are shrinking. The projects are not shrinking, neither are the plans and expectations. This represents the opportunity for the best gains. I have set target prices to buy in at, to ensure I get a good spread of stock at the lower prices. So far I bought at 5.89 and 5.68 - my next stop is 5p or below. Hopefully it won't get that low and we will get some news that propels it upwards again, however, these are on sale and the market is over reacting. If I like the stock when I believe it is cheap and it gets cheaper because of pessimism, then I buy more. They are having surmountable issues and this presents a good opportunity. If this stock was going great guns and they announce a bit of positive news, it would have a moderate effect on the share price. As it is on its arse and a lot of negativity surrounds it, then one bit of positive news will have a disproportionate effect to the upside. We can see the chain of events, we can see what is being done, we understand the narrative and we see the opportunity - none of us would be holding, if we didn't believe in what the company is aiming to achieve.

The field hasn't seen any drilling since 2000 when ramco went at it, then shifted their focus elsewhere, gave up, sold it and moved on. There has been one other attempt at rehabilitating these fields, however, they didn't really get started at all. The field, with old school techniques did get up to 10k bopd and more. Some of this kit has been below ground for 30 years or more. This is just the beginning and whilst they have not got off to the most auspicious start, they are working through the issues and putting solutions in place. Not sure about Andrea running off to indonesia though, however, that remains to be seen. There is great potential here and it all comes down to their technical ability - the reserves are there, the infrastructure is there and so are the people - we are generating revenue which keeps the lights on, so I wouldn't be too down beat on the project, despite their lack of progress so far.

I only say 8% coupon, as they are not going to get financed cheaply with their track record so far.

I would say 25% equity, 75% debt, 8% coupon - paid for from production, with reserves as security for the debt.

personally, I think this will be high on the list ... Wells such as M-221, drilled in 1981, initially produced in excess of 2000 BOPD and in 1999 was producing at a rate of 1400 BOPD before production fell to 50 BOPD due to a series of structural failures affecting the well.

true, could be any reason for selling. Z21 and other zardab field updates may be a while yet, however, the rest of the production area is still seeing activity. Jafarli and muradkhanli are producing, with ESP work underway. I wonder if the CT unit is still around, or have their services been put on hold for the time being. We have production in italy, which we rarely hear about, it seems to be quietly getting on with business. Italy swung from a loss of CAD$474K at dec 2016, to a profit of CAD$13K at end dec 2017, so that is a swing of CAD$487K for the year. This year, should show a decent profit here. azer was a profit of CAD�240K at end dec 2016 and �789k proft at end dec 2017. These are nine month figures not a full year. So despite the headline issues, they do appear to be generating some underlying improvements.

yes and the sooner they start delivering more of that underground oil to the surface, the sooner the share price will reflect a larger portion of that NPV.