Member Info for Zebediah16

the moon landings were faked. What else is there to say ?

Direct Stock Purchase Plan ??

maybe an algo spots a downtrend in the oil sector and starts selling . Maybe other trading platforms have similar brilliant ideas :-0)

dunno but a bunch of oilers are up today: GKP, PMO, RDSB

2-3% just like HUR

Interesting wording regarding the placing . Does a small scale licence really cost that much?

"The Company intends to use the proceeds of the Placing for general working capital towards advancing its Star Zinc and Ka****u projects ("the Projects") in Zambia, including an application and related environmental and licence transfer activities for a small-scale mining permit for Star Zinc and exploration on Ka****u. "

"Star Zinc Project in Zambia funded to progress work including producing an independent ore resource estimate, block modelling/preliminary pit design, and preparation for submission of a small-scale mining permit application"

The Company raised £500k on 18/10/19, before expenses ( say 10% expenses) leaves £450k

How much are they spending? Whats CB doing other than chasing up the licence and doing his spreadsheets .

I know what you mean its been a bad week all-round :-)

put in all in UKOG . OK that was a joke

wow sarge you've said a couple of interesting things in the fast few days
- a) looking at a map its obvious the Soviet era wells were badly sited , crude approximations , educated guesswork, however you want to call it
- b) you only rework wells you are familiar with

If I had know that, I might have invested in Zen about now (or maybe not), not when it was 8p :lol:

sarge: somebody with a big budget would have drilled a new well from the start, like Ramco. It would have been a different strategy. Maybe it would have succeeded, or maybe it would be on its second or third well.

the optimistic meaning is that Azer has hit the bottom and the only way is up . At some point in the future a new well will be drilled, or they will get something right. Maybe 8-12 months

In the meantime lets not waste time and bid on some Norwegian licenses ….

Its a counter cyclical strategy

Zen spent a number of years in Azer trying to rework randomly placed ex Soviet wells which did not work . Its in a depression right now

"The Company is exploring a number of avenues to enrich our portfolio at a time of great opportunity for counter-cyclical expansion."

thats a beautiful statement, it can be deconstructed to show many layers of meaning. Some other CEO would say: "Azer not going well and we are looking elsewhere". I wish AC was as talented in his strategy

some Canadian who has been buying all the way down ;-)

well some wells in Congo might be big producers compared to Azer. Perhaps that what was meant. No workover in Azer will be a big producer. Maybe the new wells will be but who knows

well as long as you stick to the rules it will be OK - dont invest what you cant afford to lose etc

Think AC will emerge OK whatever happens

the Congo deal sounds a bit like ZEN in the early days . Assuming they get the loan restructuring sorted out , the drilling strategy needs to be the right one.....And no room for mistakes here

these are all high risk adventures - some people like this game

AAOG deal - look at the AAOG board. :lol:

the £250k loan is appearing to hit bureaucratic roadblocks and that is essential working capital. Losing Congo might a be good thing or bad thing - I am leaning towards the former now