Mr Positive on PANR was predicting a rise to 30p a couple of days ago. He is a classic case, a car salesman, seemingly knowledgeable but yet not knowing anything
Production sharing with SOCAR is not in operation yet. I cant remember what it is but I believe we haven't hit that threshold yet. AC would surely let us know
What they mean by commission is not clear
Aj is correct, it is gross income . However allowing for transport and commission we can say 250 bopd
maybe 300 bopd maybe a good day . There must have been downtime with some wells
they shut down 31 uneconomical wells for the loss of 50 bopd. Fair enough
How come the ESP programme with its increased reliability, technology and deeper placing isn't making up the difference? The purpose of the ESP programme is "to stabilise existing production " . No comment on whether the ESPs will deliver more output
Weird innit. Its like buying a car with a upgraded engine and its no better than the baseline poverty spec model
Re Z21, its only now they have finally got all the equipment in place.
They started work on Z21 on the 9th of April (i.e. yesterday) . It seems there has been a 6 week break since the last RNS on the 19th of February - like they are picking up from where they left off. Probably waiting for stuff
look like some kind of rollover or swap, given than the trade price rose fractionally and they were very close together ( 10 seconds apart). Thats despite the trade price being on the bid
having said that CERP atleast achieved a 71% increase in 6 months (2017) which is more that ZEN has done (gone backwards)
CERPS share price doesnt reflect much confidence though - it still seems in a boom or bust phase . Proof of Concept is perhaps not there yet
re CERP I remember when that was the go to share if you though ZEN was a joke. Its CEO was an articulate presenter. None of these projected plans work out so easily
Sounds like he had an immediate cash requirement to do with Indonesia. Could be a fee payment of some kind. Like one of those QuickQuid loans ;-)
I dont think its capex, they are longer term than that