Member Info for Zebediah16

rocklawn: The discrepancy seems to come from teh placings. The last placing for approx. £1 million was done by issuing TSXV shares . According to the RNS, the listing on the LSE can be delayed for 12 months

"An application for the Common Shares to be listed on the standard segment of the FCA Official List and to be admitted to trading on the London Stock Exchange Main Market for listed securities will be made within 12 months of the issue of the Common Shares."

A lot of the placings were spread out of these three exchanges. The complexity of the financing is mind boggling. Perhaps it was the only way, who knows

there are more shares listed on the BORS than LSE. There may be more institutional type holders on the TSXV and the BORS. Its a very complex arrangement

Common shares in issue and admitted to trading on the Main Market of the London Stock Exchange: 258,404,153
Common shares in issue and admitted to trading on the TSXV: 312,408,725
Common shares in issue and admitted to trading on the Merkur Market of the Oslo Børs: 312,408,725

Common shares in issue and admitted to trading on the TSXV: 312,408,725

1
312,408,725

Common shares in issue and admitted to trading on the Merkur Market of the Oslo Børs
312,408,725

upper target 15p !! :lol:

maybe when 1000 bopd is achieved but you dont need a chart to tell you that

For the past week, there is an AST top placed ad with video. I wonder how much that costs :-) . Or is it just targeted at people like me who search on AST?

They obviously feel they have something to say to the market otherwise why bother. The company could simply exist

yeah dont sell out . this company takes a while to get going

RNS 7 January

A100 is classed as a workover rig and the A180 a drilling rig. Does Z21 need a workover with a heavier rig or deepening?

"a 100-ton truck-mounted workover rig, and the planned leasing of a 180-ton truck-mounted drilling rig from a local drilling contractor, "

yes good memory - it has been uprated. Assuming its the same truck :lol:

RNS 13 August 2018

"On January 25, 2018, the Company announced the signing of a purchase agreement for an A-100 truck-mounted workover rig (the "A-100") to be manufactured in Azerbaijan. The Company can confirm that construction of the A-100's mast and substructure has been completed. Following close discussions with the local manufacturer of the A-100, Zenith has decided to increase the A-100's engine capacity to 375hp in order to enhance its workover capabilities in deeper wells. "

RH, AJB: I do agree that Z21 is the wildcard in this programme . Does anyone understand if the A100 rig can handle it?

Well I think the strategy of all bets on owning this big rig are boxing the company in. It should be put on a new prospect like ZEN 01.

Instead its shifting from C37, to C30 to few other C's for short term drills which isn't the best use of resources. How long will this go on: 6- 9 months ?? Maybe they will rent that 180 tonne truck rig once a bit of confidence returns to the company

for this year I dont think they will achieve much more than C37 and C30 . It would be nice if more but we must go by experience

A100 is a workover rig. At the beginning of the year they were planning to lease a 180 tonne truck rig, but rental rates were too steep , apparently . This big rig was always for new wells - ZEN 01 etc

this is their plan , again from the RNS of 7 January. They needed that 180 tonne rig to meet the 1000 BOPD target. This big rig slows them down - unless the changeover is really slick like AC is promising

"2019 Production Target

Zenith's oil production target for the 2019 calendar year remains unchanged at 1,000 barrels per day. The arrival of new equipment including a 260-ton drilling rig, a 100-ton truck-mounted workover rig, and the planned leasing of a 180-ton truck-mounted drilling rig from a local drilling contractor, to be used on the basis of detailed geological and reservoir investigations, is expected to enable the Company to achieve this target. "

*7 January*

take a while to shift that rig, seeing as civil works have just started, including the concrete base? I guess it just a matter of working through the adjacent wells till the hit the sweet spot with the Upper Cretaceous. According to the RNS of & January

"The Company's geological investigations have determined that a number of wells adjacent to well C-37 in the Jafarli field share a strong production potential from the Middle Eocene and Upper Cretaceous formations of the same unexploited structure identified as the target zone for well deepening operations in well C-37. The Company's field team is currently determining which well represents the best candidate for well deepening operations through a series of well tests and workover activities utilizing its A-80 workover rig. "

At that point they were planning to do C-37, then C-26. I guess the order of workovers / drilling is based on the integrity of the well production casing , in addition to the geological prospects.

Anyway I wish they had bought an 180 tonne truck mounted rig for this kind of work. ZEN was saving loads of money by using their own rig but I dont think they have done the sums. Their operations management is still hopeless

No Mr Rocket this is the floor with ZEN finally making use of their rig. If the SP does go down then buy

C30 will be drilled to the upper cretaceous as well.

Looks like news here is going to be slow and accumulative - one well after another. We knew that this was a producing well in the past. Well thats my expectation

No apparent breakthrough with the Upper Cretaceous, but what do I know . It always was an exploratory probe

any idea about his compensation . I presume the basic salary is reduced compared to Colin - at least 50% lower ;)

TBTT
thanks I thought it would be something along those lines. Between sample drills, an inference must be made as to whether the deposit is continuous . Obviously there has to a be a cutoff point in sampling based on some of the factors you pointed out. We have to defer to CBs professional judgement

This is what Concordia failed at - drilling samples failed to back up the IP geophysics and the deposits were just high quality nodes

The RNS states the distance between Sable and Kawe as 100 km ,. Whatever it is , being able to do 2 roundtrips / day would be better use of the truck . The next question is how long loading takes - if its an hour per truck then its difficult

the distance from Kabwe to Sable is a 100 km on a paved road. Can a truck do 2 trips a day ?

kalan: what was low quality about the JORC?

Just for my future reference