Member Info for SEA7

looks like someone is throwing in the towel today - 362k sales in the first 20 mins.

http://www.academyfinance.ch/v2/next_events/zen18z-registration.html

zenith overview for zurich.. http://www.academyfinance.ch/v2/next_events/Zenith%20Energy%20Ltd%20Overview%202018.pdf

I know, it is referenced in the document at the beginning, the decree and articles that this protocol was established upon. I posted the link as a document of reference as it relates specifically to this project.

http://regionplus.az/en/articles/view/5674 But not only BP is interested in expanding the operation on the country's oil and gas structures. In particular, all the details have almost been agreed with the Canadian Zenith company on developing the block of the onshore Muradxanli-Jafarli-Zardab oil and gas fields. "The contract is ready and permission has been obtained from the president of Azerbaijan. Now experts are drawing up the technical details of the contract. Muradkhanli is a complex oil field and there are big problems there. It is the third time that we have agreed on developing it," R. Abdullayev noted.

I see that the murad/jafarli and zardab contracts are exempt from VAT. http://vn.taxes.gov.az/qanun/neft/2017/MuradxanliEDV.pdf

https://en.trend.az/business/energy/2907326.html Cost price of oil production at Azerbaijan's major oil block to fall The cost price of oil production on the major Muradkhanli-Jafarli-Zardab block in ...

correction... I notice that the pump that Team A put into C34 at 1523m in Jafarli back in April 2017, has been replaced with a new Novamet pump, placed at 2500m. Mike palmer was appointed one month after the april 2017 pump was put in. I wonder what else that has been done, prior to his arrival, is he revisiting and doing again. It would appear that his analysis deems the newer pump to be deeprer than the previous one. Team A managed to get production up 14bopd, over four wells back then (m67,70, C31, 34), so, hopefully this re-entry a year later, will yield more than about 3.5 bopd extra, as was the case before.

I notice that the pump that Team A put into C34 at 1523m in Jafarli back in April 2017, has been replaced with a new Novamet pump, placed at 2500m. Mike palmer was appointed one month after this was done. I wonder what else that has been done, prior to his arrival, is he revisiting and doing again. It would appear that his analysis deems the newer pump to be deeprer than the previous one. Team A managed to get production up 14bopd, over four wells back then (m67,70, C31, 34), so, hopefully this re-entry a year later, will yield more than about 3.5 bopd extra, as was the case before.

They expect to complete DD by the 15th June - a weeks time. They have exclusive rights to complete until the 21st June.

fwiw, I added a few more at 5.895p today. low sentiment, everyone ignores italy, no indication of any activity for a while, despite what we already know - decent time to add - still mindful of any indonesia acquisition, however, they did say that a decision was deferred until the second half of 2018, which is now. As the rig is going to take a while to get on site, it may also put back andreas plans for financing any acquisition and it may not happen, so I reduced the amount I planned to buy by a fair bit, as it is still unknown, although not for much longer.

depends on AC's view of what �72k is to him. He may view it in the same way that someone sees a hunderd quid, if they have �10k to play with - willing to risk it.

it does show the potential and if one of the workovers, (M195/Z28/Z21) had gone according to plan on day one, then I dare say the share price would be significantly higher than it is today, as not only the current returns and bopd would be in the price, so would the markets belief in the BOD's ability to deliver that potential. Once we see something over the line and not just a one off, then we may suddenly see the stock price push north rather quickly. historically, z28/z21 did give 500bopd briefly each. z3 did 2900bopd and moc at 5000bopd - which gives us 8900bopd that these four wells have produced at one point before stopping and none of them ever produced for any lenght of time. The field pressure is there and so are the volumes of oil. we wait patiently!!!

I am waiting as well, although I think I might pick up a few more at these prices. This uncertainty over the DD process is making me cautious of dilution, although, as they can only issue 20% of shares, they won't be raising much looking at the current price. This would mean a prospectus, if they wish to raise more, via equity, which would no doubt include a cash raise as well. Perhaps andrea would get some reserves based lending on it, however, the current track record in azer is likely to put lenders off. a combination of debt/equity is another option. from the update... Zenith is considering a number of funding options to finance the potential transaction including debt and equity, whilst seeking to avoid significant dilution to existing shareholders. .......... meaning the directors do not want to be diluted either.

https://www.investegate.co.uk/articlePrint.aspx?id=200012190730060160W Whilst drilling the MOC-01 sidetrack, Middle Eocene fractured reservoirs briefly flowed oil at rates equivalent to 5,000 bopd prior to being shut-in as a result of well control measures. Having studied all of the data from the well, the Company believes that these fractures were blocked by drilling mud, lost circulation material, and cement prior to perforating. Perforating guns used to access these fractures may therefore have been insufficient to penetrate beyond the damaged zone, resulting in inconclusive test rates. Ramco's operating company, MOC, has therefore issued tenders to the leading service companies, to conduct a comprehensive work-over programme with the objective of determining conclusively whether or not the well is capable of commercial oil production. The intention is to remove the existing completion equipment, to re-perforate the Middle Eocene with more powerful perforating guns, and to fracture through the reservoir in order to reach the undamaged zone of natural fractures. A number of other oil-bearing zones may also be tested. .............. not getting my hopes up with that figure!!

from ramco march 2001.... https://www2.trustnet.com/Investments/ArticlePrint.aspx?id=200103221440309201A Whilst the Company always knew that there were very substantial reserves of oil in place in the field, the geology was difficult and the reservoir complex. The question to be answered by the first well was whether or not sustainable commercial oil production could be achieved from Middle Eocene fractured reservoirs on the unexploited southwest flank of the Muradkhanli Field. The location of well MOC-1 was selected as providing the maximum chance of success, with a single well. Ramco experienced a number of technical problems whilst drilling the MOC-1 well, which necessitated the drilling of the MOC-01z sidetrack well. Both wells experienced oil flows during drilling. Following the temporary suspension of the MOC-01z well in October 2000, and inconclusive test results, the decision was made to undertake a workover programme using a coiled tubing unit. The workover programme's objective was to test a deeper prospective interval - the Middle Eocene Basal Sands. The workover test did not produce commercial flows of oil from the target zones, and the well was suspended pending future abandonment. ........................... It would seem that Mike has decided that the original MOC-1 well is worth going back into, based on the knowledge they have and not the sidetrack that ramco moved on to (MOC-1Z)

One thing in their favour is that as the facts are continually changing, they are changing their strategies to match. That is a sign of a good and flexible team, that changes its thinking, when the facts change. Whilst it is annoying for us, to see them, seemingly flitting from one well to the next, without any progress it does show they are responding to the challenges as they arise and not doing the same thing over and over and hoping for a different result. They are demonstrating that they are tackling the challenges and whilst the market doesn't have much confidence, I do and have bought accordingly. The best time to buy the stock is when they are having surmountable problems, as no one else tends to want to take the risk and it is reflected in the price.

advfn gives trades through lse and nex on its monitor screen, however, the free one is contended and quite often times out after a few seconds.

the rns says "zena" has contracted the BD260 rig, not zenith. about zena.... On July 29, 2017 the Company established an oilfield services subsidiary company, Zena Drilling Limited ("Zena"), incorporated in the Ras Al Khaimah Free Trade Zone ("RAKFTZ"), United Arab Emirates ("UAE"). Zena is a 100% beneficially owned subsidiary of the Company. Zena was incorporated by and the shares in Zena are currently registered in the name of Mr Andrea Cattaneo as trustee for the Company. Due to the process of incorporation in RAKFTZ, this was the most efficient method of establishment and due to the UAE not being a signatory to The Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents, the process of transferring legal ownership to Zenith is elongated and is not expected to be completed until later in 2018

No problem ezhik. Easy to miss one line in an rns, which at first glance, doesn't really stand out.