Member Info for Zebediah16

the problem is AC just does not realise the lack of trust. the first RNS was a success but nobody believed him :lol:

anyway I'm glad I didn't sell. Those who sold could still get back their losses

I bet Mr P and Degsy Almond will return now

:lol: yup finally Rocket gone

this is really a brutal business . look at all the selling yesterday !!

AGEOS - its good to know that AC has some appreciation of the probabilistic nature of this business, though his management strategy doesnt indicate it

We do need to up the number of workovers. The problem is the pace of work . The competency of the team has to be questioned when its so slow. An unskilled team is a lot slower than a skilled one. Shifting this rig should be quicker

thats what I like about statistics - so many different ways to tell a story :-)

hah I thought so - concrete curing is a significant time and should be included when you say 80% complete. Usually its 28 days . Any thing shorter , even quick drying concrete is not as hard

they also haven't laid the rebar for the base as well, so thats why I though no concrete

they seem to be making concrete retaining walls - certainly less concrete pour than C37 . Maybe it wasn't needed

If they are going to make a concrete base that it will take a while, but the tweet says 80% complete

Salyan Oil (CNPC and SOCAR joint venture). Onshore PSA Operating Company - Rehabilitation, Exploration, Development and Production Sharing Agreement. founded in 1999 .

So why didn't they take on Muradkhanli-Jafarli-Zardab as well? Probably the fields nobody wanted to touch and AC thought he would have go. And here we are

To be honest, Salyan Oil doest look that successfull either ( they are in maintanace and workover mode), though a $40 million investmnet is planned for 2019

https://www.linkedin.com/company/salyan-oil

"Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company operating the largest onshore oilfield in Azerbaijan, is pleased ….."

thats by geographical size (642.2 square kilometers) not output . So now we know .

Salyan Oil - maybe it will buy out ZEN. Its production is about 10x ZEN

IMO that rig is pulling out some of the ESPs that were placed a couple of years ago for routine maintenance. Its sandy so they have had a hard life. ZEN said they placed some of the ESPs at a greater depth (2500 metres) so that would make a 250 oily pipes

They have had two years to play around with the ESPs and there might be some production gains , but mostly incremental. Anything bigger would have an RNS (25-50 bopd)

No news of the A180 rig with its 350 hp engine . What is it doing?

the result is ok , each well can never be predicted exactly. The issue ( and where I would agree with Ezhik) is perhaps they have laboured mightily and produced a mouse so to speak . All those elaborate precautions (top drive etc) seem to come to naught and they aren't any better than the Soviets . It seems to be a reflection of lack of skill

as Resource Hunter suggested maybe they now have some extra money coming in and can rent a big powerful truck mounted rig, and step up the pace of activity . The ZJ40 is a 1000 hp rig

the A100 is probably doing field maintenance on existing wells . Unclogging pumps maybe ;-)

think AC bet the farm on these two workovers . And its not true to say he was pushed for time . At some point he had to RNS a result , he couldn't keep dithering forever

the market is also sceptical szendro, hence the further drop today.

It remains to be seen what a stabilised flow rate is . ZEN of course have plenty of experience with ESPs and maybe able improve it (or it could get worse) . Bring back Mike Palmer I say !!!!

I guess the market has made up its own mind and expects a placing

its not too bad of a strategy. A trader would be buying and selling on the way up from around 2.8 to around 3.8. So any loss on news would be contained . Its simpler than hedging

sea- you were talking about a more sophisticated strategy of hedging but I would guess the majority of traders have a fairly simple trading strategy. Maybe that is what AC is doing

candid: agreed it makes getting a loan more likely . Any bank sees you have market and business plan and would be happy to lend those circumstances

The only hiccup is the mining licence and it may be a formality or maybe not. Most likely it is, but it still an unknown factor. I dont know anything about Zambia to be able to say

I'm not sure its possible to count on sale of other parts of the business to finance this operation. Those things have their own timeline and we have 6 months to production. The finance needs to be in place ( not necessarily disbursed ) before to allow for planning - arranging transport, getting a digger and so on . Everything has its leadtime

Plenty of players - how many? Sure this attracts traders who cluster around like seagulls, but I expect the majority of them bailed out at a loss. I doubt many long term holders bailed ( the time for bailing out is over) :lol:

A short term trigger would be confirmation of C37 flow rates. Evidently the market is treating yesterdays 100 bopd with some scepticism . A little more clarity would help

I wouldn't blame this on the traders to be on honest, unless you want to include the CEO setting expectations .