Member Info for Zebediah16

parkeg1: or the Slovinian companies are not willing to get involved in anything requiring a permit. Doesnt sound like INA is either tbh. Perhaps they are familiar with the environment. Its interesting part of the article is about fracking (or hydraulic stimulation) . ARSO cleared fracking in 2011 and pronounced it safe. Why are they seemingly returning to this issue?

Any business is at the mercy of government approvals, The AST business plan called for loans to develop phase 2 . Nobody's going to lend money. Say if a permit was late in coming, after the loan money was spent on CAPEX, it could throw the repayment schedule out We haven't got the IPPC . We had it once and it was withdrawn. Thats a pretty hostile business environment. The only thing bad about that article was its description of Slovenia being a "safe place for business" I dont understand why permits are needed for every well. If they produce above a certain level then a full Environmental Impact Assessment needs to be done and the public can object. . Why can't a company site approval be granted? The only thing I can think of is Slovenia has had new Environmental legislation introduced in 2015, and the government is having a hard time interpreting it, and being excessively cautious. Unfortunately AST is a sort of learning experience for them, at AST's expense. It feels like someone else will came and make a profit out of this All IMO of course

"Two wells were drilled at Peti�ovci in 2011 and recompleted in 2013. Ascent chief executive Colin Hutchinson says that if the plugs are removed they can be brought back into production fairly quickly." "By then, proof of concept will be well in hand, the banks ought to be on-side, and the company will then be able to push the button on the second phase." "So, with the company now on the move, it seems like that its shares will come to life too. We shall see. " what a great investment it is. If anybody jumped in, its only too understandable. Unfortunately AST has not moved beyond Phase 1 ! The warning or red flag should have been the IPPC rejection and the problems associated with it

We are all here to do that, but its not that easy otherwise everybody who dabbled in AIM stocks would be very wealthy.

"Because I am able to hold 2 opinions about something at the same time, there is a name for it." Ambidextrous? alright thats a joke But you dont really hold any useful opinions to be blunt. We all know that the output hasn't increased and no workover has been completed. The idea that you are here to provide balance is ridiculous. The lack of progress is reflected in the share price and we all know that. I suspect most of us have complex views on ZEN, but I think ACs work is now beginning to take shape. Most of the posts here are discussing various details, to gather any clues as to how ZEN is progressing. Thats not being thick rampers, that being intelligent IMO

Profitability is also important. They shut down some wells that were being cross subsidised There always is maintenance issues. I expect to see a marginal increase in output becasue a rig is available full time now. Any well down-time will be a lot less, at least in theory

If the A-80 rig is on pump maintenance duties full time (for old and new pumps), we should see a marginal increase in revenue. The new pumps are placed at 2500 metres, that seems to be an arbitrary depth At least there should be better uptime. More income is needed to pay for all these incoming rigs

Genesis rig is a biggie "The Genesis Rigs are transportable on 65 standard trailers verse 115 trailers (includes three oversize vehicles) for a standard drilling rig."

Ok we have 2 rigs coming ;-) 1) The Genesis BQ500. This is the all singing all dancing rig, which is due in the second half of 2018. The letter of intent was signed in November last year. Its the most powerful rig in the range and should handle Z28 and Z21 if need be. 2) the A100 rig manufactured in Azerbjain, which is a common used rig in the region and everyone is familiar with. Thats due in June I guess they are trying for a short term contract with this ZJ 150 tonne rig for Z21, and may or may not be successful

So the A80 rig is taken off the Z21 well workover and now gets to give the ESP's some love. Which means the lack of rig was hindering their placement I guess for many months. We should get some news on the ESPs MP got him to buy a more powerful rig which still may not be enough. Unfortunately in this business you have to bet the farm. You cant incrementally grow it "Our existing recently upgraded 80-tonne workover rig, whilst ideal in size and capabilities for carrying out routine field rehabilitation activities and ESP replacements, is too small to workover more demanding wells, such as Z-28, where a much larger rig is required. It is important to note that following a careful review of our technical requirements, specifically for high-impact workovers, Zenith's operational team has selected a larger, more advanced and, consequently, more expensive rig than originally planned. "

or another one. I'm getting confused. Bear in mind they now have to go to 4300 metres. RNS September 11, 2017 "The proceeds of the Private Placement will fund the Company's purchase of a new, latest generation truck mounted 140-tonne workover rig. After carefully evaluating the Company's evolving technical requirements for the success of its field rehabilitation activities in Azerbaijan, specifically more complex workovers involving fishing jobs in wells beyond the depth of 3500 metres, Zenith's operational team has selected a larger workover rig than originally announced by the Company on July 14, 2017. The rig will also be capable of performing sidetracks, and carrying out well completion in newly drilled wells once the Company's drilling programme commences. "

"The Board of Directors recognises the existential dangers presented by risky expenditure. There are many examples of junior oil & gas companies that have voided any gains achieved by their workover or drilling operations due to the sizeable levels of debt incurred towards third-party oilfield service companies. Owning our own equipment will enable the Company to have physical assets with tangible value. Indeed, in the worst-case scenario of there being an unsuccessful outcome in any given operation, the Company will still retain unchanged operational capabilities that will position Zenith for future success elsewhere, rather than being left with a series of expensive bills to pay."

they didn't really have a suitable rig and they were trying to get by with an underpowered one Rigs aren't that available, they need to be booked. Maybe they will get lucky

Read the last RNS .

Its not such Z21 that bothers me, its more the lack of suitable rig.

thats a great thing about resource plays. A spike in the price is always helpful :lol:

Ezhik exactly the ESPs can be monitored and controlled from the control room, and dont need staff to go out and check up them. They should prevent problems from occurring But still we need a ESP success story

Possibly they stabilised production otherwise it might have dropped. Some wells were running unprofitable, and the 300 bopd before ZEN was not an accurate reflection of viable production But we do need a detailed breakdown of the ESPs

hopefully we should see some increase with the ESP output

They have been selling - from 11.04% to 10.66