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I hope this extended period of silence forms part of a strategy to really draw a line under the continual decline. In these markets you need something exceptional to make a mark so come back from a position of strength and gain some long overdue positive momentum.
Can confirm that those e-mails look legit. AC relied to my mails yesterday. Not many CEOs do this so frustrating as the situation is, fair play to him.
Morning. The communication void is deeply frustrating , even private e-mail links have dried up since the end of October despite AC's encouragement to reach out.
Tweets were getting rather tedious form the ground in AZER but now we are doubting if any activity is ongoing at all. All unacceptable given we are supposed to have an extra 285 bopd on line, ongoing interventions on other wells announced two months ago not to mention imminent C-30. Surely worth a loud shout form the company if those ducks were in a row. What is going on.
The beginning of drilling activities in the Jafarli Field, where are deepening two existing wells, C-37 and C-30,
is extremely exciting and represents a watershed moment for Zenith on an operational level. A positive result
in C-37 drilling operations has enabled the Company to achieve ‘proof of concept’ and demonstrate that the
significant work performed to date has all been part of a necessary learning curve prior to achieving success.
A little too ambiguous, just doesn't read clear.
Or the farm as he calls it. Treading grapes perhaps although a bit late for that, who knows.
Too quiet for my liking , trade volume worst I have seen it. Perhaps investors are happy to take the notes and coupon instead.
If we have a new IR team would explain the twitter muzzle.
Ah yes, the golden tickets. Apps was that her at the pres the other week? Pretty sure they went for a chat.
New Perforations announced 1 month ago - supposed progress updates have not materialised as promised. Confirmation on c37 stabilised at 285bopd, where is it? Too much corporate activity and very little from the field. Coms and IR woeful, where is the strategy here. How they plan selling 25m Euro bonds on a market cap of 10m I do not know.
New Perforations announced 1 month ago - supposed progress updates have not materialised as promised. Confirmation on c37 stabilised at 285bopd, where is it? Too much corporate activity and very little reports from the ground. Coms and IR woeful, where is the strategy here.
That and Ingrid from Norway, perhaps I will re-name myself Knut from here on.
I'm not convinced he really understands the average investor, section about introducing the operational team on the next podcast is case in point. Shouldn't come as a suprise these questions are raised as they have been absent so far and do not feature on any website/ promotional material. Website about us section revolves around a few non execs and some bean counters. Put some meat on the operational bones like bloe did last week, we need a bit of balance.
Yes C37 conveniently not probed in that podcast, arrangement with TMS not to deviate too much from Norway one would expect.
Have a good w/e and thanks for all your commentary. Roll on next week.
Yes and the additional perforations, anything operational pointing to increased revenues would help. Why not communicate unless you don't want to, I hope not the case. C30 another week to transport the substructure ti site? then 4 weeks to get the drill bit turning places us around mid December.
CV of the Nordic Chairman form 2008
Appointment of Chief Executive
Per Gunnar Loge, 59 and a Norwegian national, has over 35 years of experience in the oil and gas
sector, mainly offshore Norway, but also has experience in North Africa, the UK and Danish sectors of
the North Sea and South America. In 2005 he founded, and was Chief Executive Officer of, Ener
Petroleum ASA, a Norwegian independent, which was acquired by Dana Petroleum Plc in 2007. Prior to
that he founded, and was Chief Executive Officer of, OER Oil AS ("OER"), another Norwegian
independent, which was taken over by Endeavour International Corp in 2004.
Prior to joining OER, Per Gunnar was responsible for operated activities, quality management, HSE and
government relations in respect of Deminex/RWE-DEA's Norwegian activities. During his career he has
also held technical and management positions with companies such as Aker and Thyssen, as well as
working as an independent consultant to E&P companies.
During his career Per Gunnar has also served as a Board Member of the Norwegian Petroleum Society
("NPF"), as Chairman of the NPF Professional Council and as a member of the International Association
of Oil and Gas Producers Committee on Safety, Health and Personnel Competence. He has also chaired or
served as a member of a number of programme committees and other professional bodies.
I think that licence has zero value attached to it. Oil sands production in an ever environmentally conscious world would be foolish imo, that and the high break even cost surely doesn't sit well in any portfolio. Norways largest pension fund KLP will no longer invest in oil sand projects, taste of more to come no doubt.
Nordic have failed to dispose or farm out the asset a couple of times which has normally ended up with the lawyers. Surely must be the credits and boards collective experience for a new deal to be seen.
An event changing the breakdown of voting rights not acquisition or disposal.
C30 cemented and perforated with the larger zones could be very exciting. As OilNo notes if 285bopd sustainable here on open hole 30 bodes well on proper execution of well plan.
I asked the sanding question to AC following the presentation the other week. Very quickly he told me this is not an issue with open hole production at C37. This is Carbonate rock. My immediate thoughts were great, but, the wider retail market does not understand this like I did not. We could do more on the IR thats for sure.
C37 Well stimulation efforts and production update not arrived along with perforation updates. Happy with the strategy but updates wouldn't go a miss as stated in the 14th Oct RNS. I am thinking a lot of investors like myself are questioning what the current daily output is.
Are you listening ZEN?
Would explain why they would be delighted to get a placing away at 3p. All gone quiet on the c37 well, if we were producing 285 bopd and some following stimulation no doubt a song and dance would have followed. Let's hope not - but the absence of hard info....