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For those having a look at Block this is worth a glance over, much of it is in Georgian but there's an English summary.
P415 is interesting – “In recent years, prospecting works to discover new deposits have been relatively active. Plans for the coming years envisage a significant increase in investments in oil exploration and production. In particular, it is planned to promote the activation of geological exploration works in the oil and gas prospective areas of the country, as well as the increase of the forecast annual total production. The main focus of activity has been shifted to the intensive production of field seismic exploration and exploratory drilling, including the discovery of new fields in the offshore areas of the Black Sea. Also, innovative technologies for oil extraction are being widely introduced on existing fields, which has already been reflected in a certain increase in extraction, as well as production of oil products, in recent years (see figure).546
In total, approximately 28.17 million tons of oil have been extracted in Georgia since the start of production until 2023.
The analysis of historical indicators of natural gas (free and associated) extraction shows that the peak of extraction (about 332 million m3 in 1983) coincided with the period of intensive oil extraction, however, the subsequent decrease in oil extraction caused a significant decrease in associated (associated) gas. In the last period, the total gas extraction indicators have been steadily changing within the range of 13-18 million cubic meters.”
This snippet caught my attention making me assume if the state working on block XII using Blocks drilling team?Block is mentioned directly on p416, probably elsewhere as well. Which translates to the following:-
Figure 5.4. Oil and gas extraction in Georgia, 1930-2023.
Exploration works for new deposits are relatively active
For the purpose of discovery in recent years. With plans for the next few years
A significant increase in investments in oil exploration is envisaged.
in prospecting and mining operations. In particular, geological research is planned
Promotion of work activation in the oil and gas perspective of the country
in the territories, as well as the growth of the forecast annual total production.
The main focus of activity has been shifted to intensive field seismic search
on production and exploratory drilling, including in the offshore areas of the Black Sea
in order to discover new deposits.
https://erekle.uk/teimuraz-gochitashvili/oil-and-gas-production-transportation-processing-and-use/full-text.pdf
That 500k sell is a delayed trade …. Could be a buy from yesterday
Agreed Stay ….. it’s moved up nearly 10% on very little volume …. So if good news drops tomorrow….. this share is going ballistic
I still can't get a price on Interactive Investor for a 1.6m sell.......it just keeps saying no live price available.
Bobbbyrash There just is not many shares available so even a little bit of buying pushes up the SP. If we do get the news that many of us are hoping for this could rocket and very quickly.
GL all holders.
Hopefully with the number of sellers since it touched 2p last Thursday morning they're all done and there will be less folk looking for a quick flip.
About time we smashed through it and beyond. Most undervalued company on AIM by a mile . Maybe a Thursday morning RNS?? Come on PH! Onwards and upwards Bloe.
Hopefully have another stab today at passing 2p
16.5p and still no way Grower!
Quoting 1.65p for half a mill , not a chance
Also.....whats with them 3 trades of 5 shares each.....a bit random?
I just tried a dumby sell of 1.6m shares on Interractive Investor and couldn't get a price.
I can only guess the video was pushed out as soon as they had it to gain interest without CCS included. CCS has been known about and promoted for months. If CCS was consciously not included in the video then I think we can all make our assumptions about that, we'd probably all get it wrong too.:o)
Yes very significant indeed rlightor. Are you saying the video was out in that form for months but they have only just flagged it? I certainly hadn't seen it. To summarise I'd say I was initially disappointed not to see CCS in it but on reflection there are a few logical reasons why it wasn't.
Shed. You’re not wrong but even if the company had 25% of the 2.7 TCF as proven resource it’s still a very significant increase in the company’s asset value. I too was surprised not to see CCS included in the video, I can only think this was rushed out for potential investors, it’s been out on display for months.
I agree with that Heps and I have also wondered if you were in talks with another party considering a farm-in on PIII gas and / or CCS would it be an appropriate time to be shouting about it in a corp presentation? On the 2.77TCF we do need to remember it's still in the contingent resource category rather than proven reserves, still huge figures potentially but a farm-in partner would be shouldering a degree of risk.
Https://agenda.ge/en/news/2015/2029
Block must be in the mix with these Chinese companies wanting to invest in gas in Georgia. Just a matter of time!
Https://www.oilandgas360.com/chinas-tcc-company-georgia-eyes-to-become-successful-supplier-of-gas-to-europe/
Another very interesting article. I know it's from October 2019 but the Chinese company is specifically talking about Gas supplies to Europe. Is it not block that have 2.7TCF of gas ??
I'm still trying to find some info on the current Chinese deep drills next to us. If the rig was pictured behind PH in December last year at the wellsite then there is no way that it has just been standing idle all this time. Can anyone find any news on it?
Agreed stay positive…… let’s hope we are both taking very early retirement soon on the back of fantastic announcements
Shed - I think you may have already reached this conclusion but I have studied the video very carefully together with google earth images and RNS dates and I am pretty sure that all the external video footage was actually filmed in 2021 - as far as I can tell the more recent wells are not featured.
With regard to the Project 3 Farm out process (including CCS) they obviously have the various independent reports & data to fall back on but I am wondering if their advisers said they needed something extra to showcase the Block Operating Company and what they have actually achieved on the ground - just a thought.
Cheers Stayp - just a bit battle weary perhaps or just frustrated with comms & PR. PH was on record recently saying openly that PI gradual production increases have failed to move the SP and then they release a corp video that only speaks to that strategy. Recent positive SP movements have been down IMO (& the majority of PI's on here I suspect) to hopes on the farm-in and CCS possibilities and then they comprehensively overlook it in a trumpeted media release. You have to wonder if comms advisors are incompetent or let's consider "Cui bono" from a low SP?
Grower69 that is the thing about this share there are some healthy holdings among PIs. Between yourself and myself we are at 26m. Add some of the other PIs in and it keeps rising.
Our time is coming, GL all holders.
Well it won’t be me , sat on nearly 16m now, adding where I can
It feels like MM tactics but you never know which one it is.
I would certainly agree about available shares. Unless one of the PIs with a large holding decides to dump I cant see that changing. Its all about waiting for RNS news and positive news at that. This is when the SP will hopefully rocket, to what level will depend on the same reasons, will shares become available and at what price.
GL everyone, see you all in the morning.