Zenith Energy CEO Listens To The Market!
Chief Executive Officer Andrea Cattaneo is questioned about the potential PR disaster surrounding the latest news flow from the company, Mr. Cattaneo accepts that a number of errors may have been made however argues that his intentions were well placed with all news provided to the market in a compliant manner preventing a potential disorderly market. During this hard-hitting interview, TMS levels a number of questions to the company (below) in which Cattaneo refutes some of the suggestions instead reassuring the market ” He is listening.
Zenith Energy is an international oil & gas production company operating onshore in Azerbaijan is pleased to provide an update on drilling results at well C-37 in the Jafarli oilfield.
The Company confirmed that continued flow testing of the well-recorded a production rate of approximately 285 barrels of oil per day, adding significant uplift to Zenith’s total in-country production figure.
Sharing a headline revenue figure of approximately US$5,500,000 is expected to be generated from C-37, and a stabilised flow rate of 285 represents a 114% increase in the Company’s daily oil production.
Further stimulation of the well, may include swabbing operations as well as the performance of nitrogen stimulation, which may further increase the rate of production. The Company will update the market in due course regarding these operations.
C-30 Drilling Operations
Mobilisation of Zenith’s 1,200hp drilling rig to the C-30 well location is expected to take place before the end of October 2019.
Andrea Cattaneo, Chief Executive Officer of Zenith, commented:
“We are pleased with the success we have achieved at well C-37. The additional production and associated net cash flow is extremely positive and indicates that we are progressing with our strategy of materially increasing our oil production in Azerbaijan. I look forward to updating investors in due course regarding the mobilisation of our drilling rig to the C-30 well location.”
Mr. Cattaneo joined Sarah Lowther to talk more about the latest news here
In September Bonnie invited Andrea back into the studio to discuss Zenith Energy
The author was remunerated but does not hold shares in the company