Member Info for bigspike

Can anyone tell me the cos% of the proposed barryroe appraisal drills ?

Grewber, where is it you see the flow rate? Sorry, i can’t find it?

WR CPR suggests There are currently five shut-in wells within the permit area with wellheads intact - that will facilitate wellbore re-entry and return to production. Eight other wells exist in the permit area which were abandoned but potentially recoverable Up to now we know The company is planning, 3 additional horizontal wells post well 38 in the middle Eocene. Further evaluation on the 606bcf gas target below this that’s already flowed gas and 12mmbbls in the upper Eocene. Norio and saskinski in addition, should allow the company to break even alone.

Hopefully get some news on Bolivia’s deep gas well, success should add value to echos acreage.

Just averaged down! Time for a bounce ...

https://youtu.be/bnnT9muiPkU

Expecting further news soon from norio workovers, wells 31 & 39. Well 31 has been a reliable historic producer, initially flowed at 800bopd when tested in the 50’s. More recently has been producing at 10bopd, let’s see if the max perf Penetrators can bring it back to life. With a bit a luck, these 2 wells in addition to existing producers may allow the company to break even from norio alone.

Given the immediate need for additional storage capacity I’m expecting them to acquire via leasing... it’ll be interesting to see what processing capacity they go for, assuming it’ll be staged increased based on results of the additional 3 horizontals post 38. Exciting time right now, and bloe are now coming from a position of strength ...

https://www.google.com/amp/s/oglinks.news/schlumberger/news/amp/block-energy-roll-well-georgia-smashes-expectations

Thanks ajw

AJW, would you mind posting a link to the gog development plan please?

A number of wells have already penetrated the middle Eocene so Bloe will have a good grasp of the size of the field at WR. 16a and 38 were producers from a vertical well but were shut in when the oil price dropped. It was thought the WR middle Eocene was a fractured reservoir just like it’s analogue the ninotsminda oil field and it was here where the horizontal well technology vastly improved the recovery of these fields. Horizontal wells increase the communication between the reservoir and well bore by penetrating these oil filled fractures, exposing the untapped reserves that can not be accessed via a simple vertical well. So, for me 16a has proven this is a fractured reservoir as they thought and as degsy says “proof of concept”! These wells only cost $1.5m and at the initial target of 325bopd can generate $3.6 per annum free cash flow. 16a now has massively derisked this play and even if the long term flow rates were just double their initial target it would deliver outstanding economics in my view and put bloe in an excellent position going forward. Very few aim Oiler’s get this opportunity and Alastair Fergusons knows it....

I would say 16a was the crucial well, 38 is a carbon copy.

http://www.blockenergy.co.uk/wp-content/uploads/2018/12/block_energy_initiation_report_5_dec_18.pdf

West Rustavi CPR suggests There are currently five shut-in wells within the permit area with wellheads intact - that will facilitate wellbore re-entry and return to production. Eight other wells exist in the permit area which were abandoned but potentially recoverable. 38mmbbls 2C resource moving to 2P. Netbacks of $43/b, existing infrastructure, horizontal side tracks costing $1.5m drilled and can be put on production in a couple of weeks, cashed up and funded! 16a has proven the technology and now bloe has the key to unlock this resource and grow the business organically. I like the fact bloe has diversified production through Norio, already generating positive cash flow, tackling the old soviet wells with modern technology also proven to be Successful http://www.maxperf.ca/video-gallery.php WR gas could be the company maker and a quote from PH “The opportunity for us in West Rustavi is huge. We are now 100pc in over 600bcf of 2C gas resources. To put things into perspective, the assets that our new ventures team are looking at plays are 100-150bcf at a capex of $160m. We are based onshore in Georgia, and we are getting these wells down for $4-$5m with netbacks of c.$2-2.5/mcf. If you run that over an unrisked 600bcf resource, then you are looking at a project value of about $1.2bn.”

Thought this was interesting https://www.ryedalegas.co.uk/information/knapton-station

A3 has 70% cos, it’s in the presentation.

Thanks. New prospects? Additional licenses or more workovers?

When can we expect operational update news? Results is April isn’t it?

Didn’t jog find oil with an unplanned side track at verbier? Oh no DST there too!