What water we produce, wether it is drill fluids, or water not controlled by the water packers will go to store with its oil for separation and disposal of non hydrocarbon fluid as part of the storage deal.
Given the end of year 31st Dec I would expect our stock of oil to have gone though the salepoint at the storage site by that time.
Geowiz will you RTFM RNS please:
Mon, 8th Jul 2019 07:00
RNS Number : 7124E
Block Energy PLC
08 July 2019
· The Agreements ('the Agreements') have been reached with JSC Norio Oil Company ('JSC NOC'), a Georgian drilling contractor, and Georgia Oil and Gas Ltd ('GOG'), a British Virgin Islands company and owner of drilling equipment in the Republic of Georgia.
· Block will pay JSC NOC and GOG a total of US$750,000 (equivalent to US$2,055 per day) for 12 months' exclusive use of a ZJ40 drilling rig, an A50 workover rig and an extensive inventory of drilling and workover-related equipment. This is the same equipment used to successfully drill well 16aZ.
· Additonally, Block will hire a high resolution flow meter from GOG to aid in the identification of natural fractures during drilling operations for a cost of up to US$100,000.
· The Agreements supersede the previous contracts Block entered with JSC NOC and GOG last September (RNS: https://bit.ly/2XqFazy), which expired during April 2019.
Deramping Plank get your facts right.
Which I take that a duster, would have been reported to the market days after the TD RNS, which I have said several times over the last 6 weeks. Much the same as MATD reported its duster and suspenion of wells within days of it happening, equally Heron reported good flow of oil not gas within their test period.
The point still remain BLOCK can flare Gas and produce oil while the well remains under test.
Nice to be able to bash with no come backs.
A final TD of 2,634m was reached with the successful drilling of 646m of a highly-deviated, horizontal wellbore section into the Field's primary oil-bearing Middle Eocene formation. Drilling operations were completed with the subsequent installation of a slotted 4½" production liner. Field observations at the wellsite indicate multiple natural fractures, and oil shows were encountered during drilling. Direct measurements of WR-38Z's productivity will be available when the Company's planned well test is complete: Block will provide further guidance on the Well's test results over the coming weeks.
Comment: Nice to be able to bash with no come backs.
Given the formal test plan Block are carrying out, and given the GG requirment that production oil wells must have a licence to flare GAS, the well remains under test, Block will report when they are good and ready which could be any time over the comming weeks.
You might find the real reason is tomorrows election UJO have a lot riding on not getting a spend, spend Labour Government based on borrowing, and tax rises on every body earning more than 14K a year.
The Egdon planning appeal has completed with the Planning Inspector writing up his report, in doing so agreeing the planning conditions with the Council as part of that report, that will be on the Minsters desk next week for approval to release.
DYOR but I'm holding to see all three UJO assets adding value to the company
Ezhik there is another point, while WR38 is under test, they can flair gas and produce Liquid Hydrocarbons for storage in GOJ.
To put the well into production any gas has to be pipelined back the WR16aZ and on to the storage area. That will take a three Km HP small diameter pipeline to do so.
WR16aZ Flare licence ends on the 31st December, although, they could ask for an extension if Bago are very close to connecting.
Suspension - Solo Oil Plc
Wed, 9th Oct 2019 07:30 RNS Number : 2580P
AIM. 09 October 2019
Solo Oil Plc remains suspended pending the reverse takeover which still has not provided a readmission document to the board. Solo was a life style investment company, with the board changes now moving into a Gas operating company with options to drill in the North Sea in their existing licences.
Much better to prove our own resources which we have in place, take a look at IOG our CPR lists three times the amount of Gas and hopefully we will connected to a pipe line and selling the stuff in the New Year.
The Solo directors are here with the same reason as LTHs we are here for the increase in the share price value, well on well as the H2/H1 program continues.
The reality is Block's Gas will never enter the main trans Georgia Pipe line there is no need. It may well go into GOJ storage system as Georgia consumes many TCFs of gas per quarter bought from SOCAR. Block's production instead will replace some of that imported GAS improving the Georgian balance of payments and uplifting Georgia GDP as well.
The process may well start in the new year once Bago completes its connection to Block's WR central storage/separation and gas metering salespoint station.
The original Gas MOU agreement is here:
The October RNS is here:
The issue is with Browser Privacy
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Cautious I don’t believe they have ducked up WR38z otherwise Block would have been forced to come to the market a few days after opening the choke. More likely they have held back to find out what the performance of the water packers are with the taps open far more than WR16aZ managed. The drilling presentation showed Block driving though sub-basement fractures. This information is critical for the other wells, as well as any remediation plan for WR6aZ and the wholes reason for the Mud flow meter to identity the position of the sub-basement fractures in relation to the liner shoe.
Let’s see what Block produces in the way of news during the remainder of December.
For Geowiz our rebadged or even brand new trainee Share Pee-take basher:
Wed, 25th Sep 2019 07:00
RNS Number : 5316N
Block Energy PLC, 25 September 2019
Extract: Award of contract for 3D seismic survey
The 3D seismic survey of the Field has started with the mobilisation of the chosen contractor, following a tender in which several international providers participated. The award was made to Geofizyka Torun S.A., a services company with more than 50 years’ experience of worldwide seismic acquisition.
The survey is designed to illuminate the faults and fracture network within West Rustavi's Middle Eocene reservoir and to image the contingent gas resources in the Lower Eocene and Cretaceous formations, allowing Block to identify optimal locations for new oil and gas development wells across the Field.
Acquisition of the data will take two months to complete. The data will be processed with the latest techniques and interpreted to give a detailed understanding of the characteristics of the Field's faults and fractures, facilitating identification of the Middle Eocene's most productive zones. Block will be one of the first oil and gas operators in Georgia to acquire 3D seismic data and use it for the drilling of horizontal wells.
The data capture time scales of roughly two months conclude about now. Data processing is under way.
Given from your comments you know very little about the company other than what you can short it for. Have you read the AIM admission documents, the CPR any of the RNSs, presentation, the recent Broker reports? Given the fun the bashing team have had taking this share down from 14P to 3.85p since May, your amateurism is very welcome if that the best you can do.
Very simple, the drill data they have identifies the untapped Middle Eocene pay zones; 16aZ was an appraisal well to prove that Gas and oil (from the existing drill data) was in place. 585 PSI plus the now 15K to 17K BoO stored to date prove that it is, plus a significant number of BoOE Gas flared off.
The 3D is a requirement of the PSA first and foremost, they have to complete it or lose the PSA, the contract for West Rustavi stipulates a date for it to be completed by. However, WR30 drill into the Upper Cret. is a well extension of over 2000M from its current TD of 2600M in the low Eocene.
Block has done well to get the 3D shooting completed according to Block, this month. It’s very likely Block shot the 3D around WR30 first to look at the Upper Cret. pay zones to target, as well the Middle Eocene lateral target as Block reverses back up to the well to complete that 1200M lateral for gas and oil.
Nope I think you will find we will have a Government with sufficient votes to approve the second reading of the WA and then shove it though ASAP. The budget will then follow locking in uplifts to NI and Pensions.
If the EU (French) want to play hard ball over fishing, defence, and foreign policy which they will, WTO will come sooner than the EU Commission thinks.
Never mind BB you will have to work with what you have now, better to be in it rather than throwing rocks from the side-lines and not in vested here.
What is it with the carping whingers, Oil and Gas exploration is a speculative punt, Block are not in wildcatting the are in the narrow market of reopening existing know fields based on new technology in directional drilling, extraction, cementation (when they get it right), seismic, wire-logging, Neutron probing etc.
Unlike a wildcater they have a monetisation process in place for oil and now gas, and they can sell every barrel and gas equivalent barrel they produce.
Geowiz: if you look at the last drill presentation for WR38 you will see a significant number of back dotted lines those are the 2D seismic. The lines are the nearly 20 Km 2D seismic which run east to west up the centre line of the Anticline which forms the field XIf as we now call it West Rustavi.
Another is the 2D North South Seismic which runs down the centre line of the field to the west of 38z. Notice the other 2D N to S lines interspacing the field including the much longer line running though the WR16 site and following the segmenting vertical fault area which caused so many problems with water ingression from the Upper Eocene layers following the failed cementation fill.
Which is why we understand that the WR field is segmented into defined fault separated blocks much like a series of elongated checker board squares which WR38 and WR16 sit in and WR03 sits in its own 3Km to the north of 16 in its own fault separated section and why the Soviets abandoned nearly 13 Gas wells in the field and operated the LE oil wells until the 1980s costs closed those wells.
West Rustavi drill data has been collected from a wide number of sources as the CPR states including Canargo, Schum, and GOG who provided the base drill data for the fields we bought into and VIII.
The 3D is the next step in identifying Eocene and Upper Cret. pay zones in all four layers, given that the main oil production has been from the lower Eocene, oil is to grease the development wheels, Gas is the money maker.
Cautious11 your normally very fair in your comments:
WR38 has not been delayed it has reached HTD in the Middle Eocene and according to Block being tested to an agreed test plan. That plan could finish next week or run on for another 5 months.
If it produces Oil and gas sufficent to payfor its self and meet the break even targets thats a win.
If it reaches its project target 325 that even better
If it reaches its oil target and produces 80 Boe in Gas even better.
Once testing has finished withe deep drill, Block then reverse up the well to reenter to complete the money section of the drill into the Middle Eocene and reproduce the Down dip drill of WR38 looking for more Gas and Oil.
WR30 may well be waiting for long lead items, or its waitng for an update on the 3D for the deep well extenion from 2500M down to 4100. Block may well core the Upper Cret segment to gain a better view on the geology of the field from WR30 to WR16, for which they may already have drill data from GOG for.