Member Info for Zebediah16

badaim: the rig doesnt have a rotary table, it has a top drive.

Is there any estimate of how much cash AST has?

they raised £1.1 mil in January and April. There is no corporate plan being presented, other than we want to get out of Slov like badly. The last plan to raise money was to buy a compressor and thats been shelved.

Unless there is a strategy there is no room for placing IMO

If John Buggenhagen brought PNR to a production ready state (Q4, 2019) why did he leave PNR? Wouldn't he be there to reap the rewards for all the hard work.

Yeah whats such a dynamic person doing in a such a deadbeat company

John Buggenhagen as well - he looks like a smooth operator :-)

you could be right but it depends on their production costs - at 30 barrels / day it may be profitable but not generating huge amounts of cash. Who knows

PNR has also conducted a 3d survey, drilled two wells and spent a long time navigating the regulatory environment. I doubt they spent £50 million on it , looks like a more lean affair. What did AST do with so much money - salaries ?

AST has wells in production and a cashflow. Palomar Natural Resources doesnt appear to have any wells in production in Poland . They are both under resourced and shoe string affairs - Palomar may be a more straggly affair

btw, the image of Pawel Zuk, the Chief Operating Officer at PNR appears to be as stock image, though I could be wrong :lol:

thought it was re-engineered? Seems as unstable as the previous one

vb: thats absolutely true. If someone is invested in ZEN and thinks its going nowhere should read up on Opportunity Cost

yeah he seems all right .

Aberdeenman also had a lot to say and I just wonder where he resurfaced

was he related to Aberdeenman in some way?

how come? He seemed legit. Was he a troll?

high outputs may not be sustainable in the long run going from past experience

A month for C37 is August 31
then 15 days to shift to C30, and 15 days to deepen becasue they know what they are doing now

So Zen 1 starts in the first week or second week of October. How long for ZEN1 - doesn't a 4000-5000 metre well take about 5-6 months to drill? They need another drill rig TBH

great stuff, good to see Dean Clark subscribing, but it doesnt make C37 a dead cert . If we all could beleive maybe it will happen......

sea7: That statement is waffle. Does the writer know what a catalyst is?

To avoid "unnecessary dilution" basically means they might have to fundraise at a much lower SP, after a poor result in one of these drills. So better to do it now

Most of us have expected a fundraise but at much higher levels, possibly after a good result at C37 or the runup to it

All good as long as nobody buys a Tesla. That would be ironic

what colour Lambo is everyone gonna get? Me I'll go for white

andrea says

"I am confident that a positive result in C-37 and C-30 drilling operations will be transformational for Zenith's development."

or otherwise. I thought there was no secret bad news yesterday but this is preempting that. The fundraise is a hedge (or contingency if you want to call it that) IMO. Better now than later :lol: The last quarterly report shows production from Azer has declined by 3000 barrels of oil. There is not much else to hang on to

whats next after C37, C30?