Member Info for Zebediah16

nah he is just delusional about actual operational targets and strategy. "Operationally challenged" is an understatement

Colin's commentary: Doesnt mention any hurdles , just straightforward "administration and planning". It sounds very encouraging regarding the licence

thats called managing expectations :-)

think we would have seen blue day becasue AC's year end production would have been realistic for once

what comes first? ? the offtake agreement or the mining licence ? Now we know:-)

"Mining targeted to commence Q2 2020, subject to availability of further funding and grant of mining right including environmental permit."

it looks to be around 500 bopd , hopefully 600 if C30 really is better. And if they can complete the workover before the end of the year

AC as ever was optimistic with his 1000 bopd target . its unfair to blame PIs for getting high expectations when the CEO is the one who sets them

sarge all these points have been discussed . The half dozen or so C wells have been described as a numbers game for workovers. If C37 hit 300 bopd it would have been fortunate that is all. We are stuck with this strategy of using this rig as a workover rig but its not the best

sarge - the rig is owned by a ZEN company based in the middle east and rented out to the Azer operations. Whats the rental rate ? Of course a higher bopd output will hide most sins and errors of omission or commission, but thats beside the point. It hasn't happened

sea7 - the point is if they rented a ZJ40 rig , they could have deepened half a dozen C wells by now. The ZJ40 is the largest truck mounted rig you can buy (apparently). On Alibaba they seem go for around USD 2 million from your friendly Chinese supplier. I'm not sure BLOE is getting a good deal or there maybe more to it

Why didn't ZEN buy one of these. Its far more suitable for well deepening becasue its a workover rig . Look how time is spend on setting up this rig and shifting it about

Whats the real price of this Italian rig? Its not clear to me. You also have to consider this has been a un-utilised asset for around 10 months . You remember the beginning of this year we were watching the movement of delivery trucks from Italy to Azer,

"pre intervention - 5 bopd - netback about $73k per year
post intervention - up to 100bopd - netback about £$1.5m per year.
That is a success in anyone's book."

Dont forget they have spent a year conducting geological studies , buying new capital equipment etc. Not the best return on investment if you add it all up. C37 was selected !

AC keeps talking about how much money is saved by buying a rig, but this result could have been achieved 12 months ago with a rental rig . Business rarely buy capital equipment , its rented and its for a reason . Something is skewed with his strategy

Still BLOE has much higher market capitalisation, so this should drift upwards once we get over the 1000 bopd dream . This time next year !!

all that material on the "main news channels" comes from the #yemeni hashtag. Aint much reporting about. They have captured some Saudi troops - the number is not clear

https://twitter.com/hashtag/Yemeni

who is going to take on for the Saudis ?

https://www.msn.com/en-gb/news/other/saudi-arabia-wont-attack-iran-but-it-may-pay-someone-else-to/ar-AAHG0DU?ocid=spartandhp

When asked what fighting in Yemen under the command of the Saudis had been like, some returning Sudanese troops said that Saudi military leaders, feeling themselves too precious to advance too close to the frontline, had given clumsy instructions by satellite phones to their hired troops, nudging them in the general direction of hostilities. Where things were too treacherous, Saudi and coalition airforces simply dropped bombs from high-flying planes, inflating civilian casualties.

Houthis think they can grab Mecca and Medina . This has been dismissed as fanciful but not so anymore. The Houthis say people in eastern Saudi Arabia ( Shiites) have helped them . Its not impossible if you look at the map. This kind of thing will destroy confidence in Saudi Arabia

War what is it good for? The SP I suppose.

Trump cannot prevent the coming crackup of Saudi Arabia

“The Yemenis… haven’t hit a hospital, they haven’t hit a school, they haven’t hit Sanaa bazaar. They just hit an industrial centre… to warn you,” Iranian president

Thats what the Saudis do . If they do retaliate, lots of people are going to die in indiscriminate attacks

The US apparently pulled back from a strike when the Iranians shot down a drone becasue too many people might have died

So whats going to be the US response ? If they kill people in response they will have the Iranians seem smart

with the US out of the way its like a cat toying with a half dead mouse. You know its going to slap it around some more

Trump just wants to sell a new version of a Patriot missile system Good for him

well the Iranians were waiting for the US response.

More sanctions means more missile strikes

Indeed, but there is widespread scepticism . The only proof is wait and see

what happens next? Trump is going to sell an upgraded Patriot system to SA for USD 20 billion. He thinks of America First!

"A certain UK site monitors all missle launches on earth on behalf of the USA, they would know exactly how many, when and where they came from, so over all it's all a load of *******s."

what site is that., pray ? Perhaps you are thinking of ballistic missile launches, and they can't be detected except by satellite observation and radar, The US has said that these are cruise missile strikes, which are generally low flying. The accuracy of the attacks is surprising but not exceptional

it stinks of media spin.