Member Info for Zebediah16

Ezhik: thats a pep talk, and even Rosie thinks so

https://www.youtube.com/watch?v=2eGdKztd4TE

i is worried too. I assume the heavies are coming around to collect...

Perhaps they are struggling with integrating this topdrive with the rig. Or they waiting on some vital part again, which cost £88k …….

Rosie is worried

how is it a share swap? - he sold shares at 3p and exercised his share options at 7p, injecting a small amount of money into the company. He has forgone a 100% gain effectively

AC does mean well but this is a tough business …..

AC is saying this is a strong buy at 7p and at 3p an absolute bargain

I hope he is right becasue I need 7p plus as well :-)

still no updates on topdrive . Surely they are past the point where it should be commissioned. Missing some hoses ??

https://twitter.com/zenithenergyltd/status/1148133672505270273

mud logging unit arrived from Geolog. Another Italian company, looks a major company

AC keeping all things Italian I guess after those experiences with Schlumberger

rental may be more expensive but you get something that works. cough cough

he is recycling about 100k a year in buying shares . I always thought this was so

I still cant work out whether this is the normal Italian chaotic style and will come good or not. I think AC can hire consultants, but he seems to have trouble hiring and retaining operations staff at a director or manager level. He makes the decisions . I think we are paying for that shortcoming with this rig. It is feels like an old refurbished affair and difficult to setup and probably difficult to move

mis: the notes provide a break of the "other benefits". I think you are adding the two together

where does it say AC got 900k. the report AC's payments. It does add up but he is recycling some of it into propping up the share price .

- annual consulting fee payment is approximately £210k
- a yearly bonus of CAD$200k from the parent Company and CAD$101k from subsidiary undertakings.
- share-based payment of CAD$462k, relating stock options granted during the year ended March 31, 2019
- CAD$34k as Director fee compensation, CAD$59k as Fee for guarantee remuneration and CAD$174k as a management fee premium for EMTN issue

mis: you're right I multiplied 1,500,00 *0.07. Good thing I am no accountant

regardless it is worrisome . Maybe a loan repayment or something and they sent around the heavies. This workover is becoming more crucial it seems

this amounts to £100,000 paid to the company. An urgent call on working capital perhaps ? Some part thats not working properly and needs to be replaced. All those hydraulic hoses

I fear its another jam tommorrow story . Something not right

yup news expected tomorrow (today actually). Otherwise we are running into overtime. Everything now is under ZEN's control. No third party

the REDPSA target is not a breaker for the company. Its a clause to prevent a company from just sitting on the concession and doing nothing. OK AC has been very active but not too effective. Maybe they agree that is tough

seems more of a technical issue . You can buy and sell OSE and TSX Zen shares on the LSE. I dont know how they manage it though . Will OSE and TSX shares be traded as a separate class of share ?

I should have listened to AJ and that other dude :lol:

AC is manifestly out of his depth. He is not a crook but well meaning incompetent can be the same thing for investors. I dont see this as a training exercise, results on this drill are vital for the credibility of this company. Drilling in factured geology is hit and miss . HUR have have come up with a duster with all the experience and ability of their CEO. Still very much a gamble here

SEA7 you must have taken losses in this share at some point , you have been in it as long as me, unless you are very clever at trading. I have an average of under 5.5. I have done a bit of tranche trading but not enough.

I have made good profits trading some others but this has been a cropper , i dunno why. The problem is refusal to admit you were wrong, IMO.

Lets hope the top drive powers up and delivers

well they have atleast one generator on site. This 'Mudpump' picture that AC tweeted back in January looks like a generator

https://twitter.com/CattaneoGenoa/status/1085471735665868800

if you google it there are articles on electric vs hydraulic top drives . Those article are old though. Electric drive is so obviously superior

well I dont know anything about the oil business but in general , electric drives are replacing hydraulics . Hydraulics are more of a 1990s thing (and earlier). Its to do with the power electronics allowing very precise control over the electric motor

Plus you dont have to deal with all the messy hydraulics. Maybe there is a reason for it but I was expecting an electric affair. Most things that were hydraulic are now electric - steering on your car, controlling flaps on airplances etc