Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
No other Zenith employee has ever been presented at a public event I have been too. The business would benefit greatly having an operations director and public face sitting alongside AC. Mike Palmer had this role but clearly this didn't last long. Where is our workover and drilling manager Mr Ion Tica and senior geologist Dr Narmina Garayeva - not seen since March, also not on the Zen webisite management list, Linked in suggest not at Zenith. A lot of financial controllers, advisors, non execs and admin, but out and out operations?
I'm in here for the long haul but the co needs a high level team to build around not one public face.
A confirmatory update from C37 wouldn't go a miss amongst all this corporate activity. Are we still producing sustainably net 285 bopd from this well or has this been paused? have the stimulation interventions progressed, if so what is the outcome?
Come back and vent when you are a shareholder.
haha, failing that maybe some big old skyhooks.
This assurance will come along shortly but it’s not standard practice for SOCAR to issue such a document. Many other companies operating under similar agreements have more diverse portfolios, us mainly being AZ necessitates the requirement. AC was pushed on this Wednesday and I was happy with the fullness of this answer, he did mention SOCAR were very happy to see another rig operating in country. Looks like the video from this event will be live early next week.
Welcome to the good ship Zen Staf - hopefully your entry is rewarded in the short term. Stabilised flow at c30 continuing (upside potential) plus success at c37 will get us recognised eventually. Much anticipated bonanza wells in the new year to look forward too. Q4 revenues should read well and and apace from that point.
Good presentation, a relaxed composed performance from AC and re-assuring.
Not much he could say on performance of current activities but c37 producing from the fractured carbonates and looking good. Measures to increase performance underway.
The marshland and lateral drill very much in focus as well as a new vertical next to z-21. Cannot kick of existing (z21)as no integrity, casing not cemented and unreliable.
REDPSA - expecting a letter from authorities detailing postponement of the performance targets. He did mention to 50 percent of the 30 or so exploration companies are also in the same situation Including BP. Realises this re-assurance to investors a priority.
I’m on the way now. Will update later
We should be over 4p had it not been for the own goal.
Full tanks of oil heading to market but trust and the sector in general pretty miserable - volume and trades low.
So it would appear the rehab work on the Muradkhanli fields as per recent tweets was M247. Its' sound enough to carry out a deepening/sidetrack and in the right location to chase these Mesozoic carbonates in the Cretaceous without spending 4 months drilling a new M well following c37 results.
Todays RNS
As part of its planned future drilling programme, Zenith has identified well M-247, located in the south-western part of the Muradkhanli oilfield, as a highly prospective geological target for well deepening or sidetrack operations targeting the Middle Eocene and Upper Cretaceous formations.
Geological study results August 18
The primary achievement of the study has been the identification of a new, previously unexplored, Mesozoic carbonate prospect running across the two fields beginning from the south-western flank of the Muradkhanli oilfield. Three distinct structures have been highlighted at the level of the Upper Cretaceous, from West to East, whose structural highs are considered strong candidates for possible exploratory wells.
Apologies, yes I missed that.
IR has had a heavy shake up this week after last weeks shambles. Co-ordinated strategy with AC I would assume based on getting all the info out there good and bad. They have some meaningful Barrels now so why not.
Liking the new Bonnie, about time we had a warts and all approach.
Ask your mate, are you still talking?
A lot of us have been here longer than 5 days Khany. Ramper suggests some kind of short term trader which most of us are not.
Still below last weeks 4p.
Potential for larger pay zones in c30 and event free drill will be worth the short wait. Cement and perforation of the larger zones will get us to a year end target of 1000 bopd, which is what the market is looking for.
5.5m USD annual rev (60 dollars) suggests average daily production of around 250 bopd, this suggests the water cut ratio has also reduced from the initial 50 %. Good stuff.
Yes yes yes
Hi Shez, I have asked the question. AC understands clarity on this point is required.
Thanks Ageos, wise words. Still believe better days ahead despite some considerable internal debate! Let's get onto those Z wells, I'll take 80/20. I understand we will get some clarification on the REDPSA soon which help settle some nerves.
Ageos, as a relative novice can you explain why Zen could not or chose not to swap out the failed hanger equipment. Surely this would have been more beneficial if they were confident of the middle eocene prodction, thanks.