Zenith Energy - Analyst Interview, Beaufort Securities

BEA Fri, 03 Feb 2017, 03:15pm GMT

Beaufort provide their view on Zenith Energy and its exciting new oil play. Zenith has an 80% interest in three oil fields onshore Azerbaijan, collectively called the Muradkhanli Contract Area. Current production is circa 300 barrels per day from 65 wells, 81% of which produce under natural pressure. Through simple workovers, management is targeting up to 1,000 bopd by 1Q18, an ambitious but feasible target due to many years of suboptimal field management.