Member Info for Zebediah16

"wave theory" is pseudo scientific gloss, it would be more accurately described as crowd behaviour on AIM , but that doesnt sound so good. There are general principles and repeatable patterns that can be extracted from it . But you have to be very detached to play this game and few of us are

I like what ophidian did yesterday , buy on the little dips and sell on the highs. Its tool and I see the value in it (sometimes). As long as you cover your costs and make a little money. Its disruptive trading

yeah we need just a result from C37 - even 100 bod would do . We need the cashflow to fund 2019 without dilution with the two big rigs. Right now its touch and go. Thats the risk factor IMO

mudstud: "The rig arriving is material. When will it happen? Zen can never tell us straight!!"

agreed and I think ZEN addressed that today, somewhat . Maybe they will provide a status tweet everyday. I think its good they are setting it up and doing a dummy test, rather than shipping it in parts. B Robotics doesnt look to be a big firm and their slowness shows. This kind of thing takes a long time because its project work. Or is it all a charade and the rig will go to somebody else ?

have done their job and we are blue. the tweets have it

If BD260 is so close to completion then why cant we have a ship date be provided, even if it is estimated

plus this company has form with underpowered rigs . Maybe 180 is a much bigger number that 80 so it will do .… . That would be incompetence or over optimism

well Mudstud seemed to suggest the 180 rig is incapable of tacking this well and he's been pretty knowledgeable. Its been ordered just to keep investors happy or so the rumour goes. Was that you? Sure the 260 rig could be used and I dont have a problem with that.

the 180 rig could have been a fall back plan in case of delays, but thats not to say it couldn't be used. If that was the case then its misleading

The RNS explicitly states it will be used to deepen this well. Are they misleading investors or will they spin out the work currently underway or do they no know?

"The Company will provide an update once a 180-ton truck-mounted drilling rig is mobilised to the well location to begin drilling activities after the completion of civil works at the C-37 well location. "

sarge: hope she doesnt read this board wondering where all the Christmas spending money went..

should be

Mining licence approved

could be drilling fluids or teh black gold

very gritty

exciting week ahead ;)

panic selling unless they are planning to buy some woolly jumpers

some of use rub our hands and watch and wait

page 15

sarge its from the quarterly results ending Sept 2018

its the revenue per barrel from Azer in CAD

https://www.rns-pdf.londonstockexchange.com/rns/4084H_2-2018-11-14.pdf

OK they trebled the depletion and depreciation charge for the period

386,000 CAD against 126,000 CAD for the previous period

that partially explains the spike in production costs

maybe they sold their production towards the end of September. It isn't a huge amount to store, 240 barrels a day is one tanker load

revenue from oil sales did more than double despite marginally less production

3 months to sept 30 2018
Oil Revenues (Azerbaijan) 2,055,000 CAD = 1,541,259 USD

3 months to Sept 30 2017
899,000 CAD =674,250 USD

OK these figures are CAD and we think in USD

so costs of CAD 40.52 / barrel = USD 30/ barrel at current exchange rates 1 CAD=0.75 USD

A little better but still too high. There is no explanation in the notes why operating costs for Azer had doubled ?

Revenue per barrel for 3 months ending Sept 2018
Revenue 109.23
expenses 40.52
field netback 68.71

for 2017 3 months ending sept

revenue 46.61
expenses 21.56
field netback 25.05

Production costs doubled. Does that make any sense ?? Do they know how to do accounts?

some of their data is just copy pasted and recycled endlessly

on their website they state cost of production as US 19 / barrel for 2017 (see 2017 financial highlights) and their projected cost is US 8 by 2020

I have a feeling we need to look at the accounts in greater detail....

**/day** sorry I meant per barrel