Member Info for Zebediah16

it would account for the apparent slowness in C30 setup

sarge : The company expects 250-300 after the plug is installed .

the RNS says the company expected stabilised flow which is a different thing. It means the website can be updated with the new figures

Sorry it is pessimism . Its saying that well C37 is not producing right now. I read it as producing in the range stated ( around 250-270 bopd), but with a history of decline some engineering strategy is required.

Ezhik, thats dire pessimism :-)

Not that good :lol:

Never understood the dire pessimism about C37 . But this RNS still shows ZEN to be slow in operations. This well should have spudded by now. The forthcoming plan still is slow . If we have extra income what about another rig?

The positive takeaway is that no new item of kit is needed for a side track operation. Does that mean no sidetrack, or they can make do , or its already been bought ? The last would be a big surprise

so whats the SP prediction if its a success??? . 700 bopd doubles the SP, IMO. But its still bad news for many people

The path after that is still slow and torturous . There doesnt seem to be any rapid growth plans, unless someone can point them out

where is the plan ? I struggle to see it and IMO thats why the SP is not responding. What the plan would look like :

after C30 it would describe what happens next, the operational tempo and the rigs used. Is this rig really gonna plod with painful progress on all the workover wells? Even if we get 700 bopd from C30 what would that do to the share price ? Nobody is confident to what, where are the usual predictions

Instead we get an RNS stating the AC has dropped a silly idea ...

fully expect an RNS on Monday detailing purchase of a new horizontal drilling fixture -:)

isn't that the definition of madness ? OK we all must be mad

*top drive*

OK here is a higher spec rig , a 1500 hp ZJ50. Not truck mounted but rig move time 12 days. It comes with an option of hydraulic or electric top drives . Top drives come with " Guide rail, shipping containers, spares, tools and operation manuals".

That bit amused me .

http://www.botta-rigs.com/content/catalog/1500hp-zj50db-ac-vfd-electric-modular-drilling-rig

there is something about this setup at ZEN that doesnt feel right

if the intention always was to side track then it seems they are not very prepared for it. Again the fault lines seem to come - does everything wait for AC to finish his dealmaking

Bloe did a 500 metres horizontal side track , with a ZJ40 drilling rig. Its truck mounted , see

http://www.botta-rigs.com/content/catalog/1000hp-zj402250-ez-ac-vfd-truck-mounted-drilling-rig

As ever it feels like there are lots of candidates to drill but ZEN's execution and planning is so slow . I still think they should have gone for the most powerful truck mounted rig they could buy but ZEN must know better

ever so tantalising and elusive

amazing story - so if PMO bung them a nice fat fee, they will stop shorting the stock ?
whats the difference between ARCM and Tony Soprano saying "its a nice little business you got here".

"Norwegian vee-hicle aa-cquisition"

sounds better in an American accent

"Norwegian vehicle acquisition"

he likes sheds as well . :lol:

thanks sea7, the goto man for documents.
yes there is nothing particularly new there and the document reflects info thats months old. The C37 timeline seems to end in August. He is selling the ZEN story based on proven reserves, the geological studies and the BD260 rig which no other producer of similar size owns. :-). Surely no investor could resist this

appiamama: any updated info on production rates would be in the prospectus as according to the Nov 6 RNS "Approval of Prospectus for EUR 25 million EMTNs "

I dont see this prospectus on their website so maybe its a super secret document circulated to a select few . But then it would either just be a reconfirmation of the production figures or investors would have two sets of production data which is misleading

All this aggro is just based on lack of trust . So what good would restating it do anyway > why would you beleive them, unless you see it with your own eyes? 285 bopd is still just proof of concept, its not what we are here for anyway. We want to see 1000 bopd by Dec 31

if you buy a 1 year note (say) at 9% thats a pretty good return. I'm sure many of us have been sitting here with capital tied up doing nothing