Member Info for Zebediah16

well its a hell of a lot of drilling at SOLG. How come no IP geophysics?

reading the last RNS on SOLG

had a quick look - reminds me of Concordia

Drilling  is expected  to be completed during Otober and the Company will provide regular  udpates on core appearance, portable  XrF spectrometry indications and actual laboraory assays consistent with that adopted in the Intitial programme

"what about companies that have no production on AIM??? they going bust?"

So no company should ever go bust ? They just do a placing?

Concordia - dead as dodo
Glenover - in the fullness of time
Nevada - thought that expired
Star Zinc - the stars are not aligned

and if it gets to 6 with will get to 7....

indeed if it gets to 4.5p, it will get to 6p as well

Other director buying wouldn't mean much. You get the feeling ZEN is a one man outfit. the other directors are there for appearances sake

What bugs me is the so called 180 rig, presumably its truck mounted or reasonably mobile. Now we learn it can finish of Z21

why didn't they order the most powerful rig in Azerbaijan ? It would have been reasonably cheap and appropriate for the jobs on hand. Instead they were mucking around with this A80 truck mounted rig. Then they specified an A100 truck mounted rig, made locally, and now that has disappeared

Even with ESPs you know you are going to need rigs ( small , medium, large) . They stuck with a small rig. Its a failure of operational strategy and yes MP was responsible, but AC should have sensed this as well. If there is a lack of info, you have to be drilling all the time, developing hyothesis and testing them

So I dont buy the thesis that AC is secretly laughing as he is soaking up the shares. There is a great danger of this company going bust

"seasoned oil exec" the only problem with that is the seasoned oil execs in on oil aim stocks are delivering a similar track record (UKOG, CERP etc)

Dont think AC will give up this business, or maybe he can be kicked upstairs . I wonder what the beef with MP was. I dont think its a operational manager failure . The company has failed to get an understanding of the geology and keeps making equipment mistakes. And each item on order has a 6 month lead time, so we sit around waiting for that to save the day

well AC is as delusional as any PI, put it that way. Haven't we all bought in at 10,9,8,7,6,5,4. There was a guy here recently waiting for a 3.8 buy , convinced that was the bottom

AC should have more info then the rest of us, being a CEO and all that , but it seems he is just as clueless. And nobody is going to to replace him, so that idea is dead

badge, indeed AC comes across as delusional. We need some success

yeah thanks Mud that clears up a lot

MudStud, a favour. If you happen to run into AC again, ask him what happened with Mike Palmer. Just to gauge his reaction

"The BD-260 rig will complete the workover of Z-21 by pulling out the entire tubing string from the well, cleaning out the casing to the well's total depth, 3,982 metres, and subsequently performing a number of production tests. In the event that a satisfactory rate of production was not to be achieved from Z-21 following these operations, the Company would proceed with deepening well Z-21 beyond the Maykop formation into the Eocene and Upper Cretaceous formations by drilling an additional 300 metres, extending the well's total depth to approximately 4,270-4,300 metres. "

I dont know this industry so I didn't realise an 180 tonne rig could be used to finish off Z21. They were struggling with the A80 rig for months. So this 180 tonne rig should / could have been rented early in this year. It indicates a change of plan. This big rig (BD260) was intended to finish of Z21 but it will target the M field

Their planning is shot to pieces. I'm bemused more than anything, but also relatively relaxed. A few percentage points rise on BMN nowadays cover my entire investment here, so I can sit back and watch the arguments.

Another day of argy bargy on the Zen BB , just like every other day. Its Groundhog day every day here. Maybe its early onset dementia

AJB it really is a tough field - Look at Stephen Sanderson of UKOG (of 100 billion barrels fame). His CV is star studded: " A highly-experienced petroleum geologist, oil industry veteran and upstream energy business leader, with over 30 years operating experience, Stephen is a proven oil finder and has been instrumental in the discovery of more than 10 commercial conventional fields, including the giant Norwegian Smorbuk-Midgaard field complex. …. blah blah"

Thats why your statements that everything should happen as planned doesnt work. AC is not an oil man and the job for him is to pull together a team who can do the work for him. Its good in way that he doesn't pretend any expertise, so no ego to get in the way. He can chop and change at will

"...share price, bad decisions and bad management have caused the share price to collapse."

also difficult geology, bad data, old equipment, undercapitalised. Bad management would be inexperience. Yu learn on the job

Andrea's buying is the only thing holding this SP up