Member Info for cperkin

Ha Ha as if by magic :)

Hi bemmacolli1, indeed in fact they already had targets identified several years ago when they completed the 2D reinterpretation and selected drill targets, this was done then by Neil Ritson. They have since completed 2D infill and drilled a well. All that new information needs to be reviewed against the original drill targets before confirming the next spud date/well target. How long that takes, I don't know as neither a driller, Geologist or 2D interpreter I be but I would suggest a week is not long.

Surely it's better to add all the new information into the next well selection than to go blindly onwards without?

Just a licence RoJo, maybe September?

Got to say I am not amazed at all. They have drilled the first hole and need to incorporate the learnings into the next drill and review the 2D infill and add the geological learnings from Tai. It's only been 1 week since the last drill, I know it feels a lot longer but hey ho.

I am thinking we might hear by the end of this week/early next and they should have a pretty good idea of what they are seeing with Baker Hughes providing premium logging-while-drilling service.

I guess shareholders would have been very angry with them if they had sold all the holding before the results of the first of 3/4 wells, since they paid already for that drilling and expect to see at least some money on the table for the next well(s) Maybe as a non shareholder you might not understand that & as it turns out, so far the BOD have actually played the HE1 stake much better than you would have with your constant berating of the BOD for not selling at 7p

As for funding they still had enough for the 3 drills before the £10 million raise at 10p so they should have plenty of cash for another drill or two.

About time you started doing some of your own research and reading the publicly available information instead of continuously making stuff up?

Blimey I count that as the first hint of Optimism from old stale bull, or was that sitting bull , no just Apache ;0)

I guess it will wallow around the last placing price of 10p till the next spud is announced and then like last time it's any ones guess where it will land during drilling. Certainly one to keep an eye on.

Where oh where is the completion of this first revenue producing deal here though, I though it would have been done and dusted by now?

I certainly hope so AJ, we should be ridding well above 3p whilst drilling and an on time TD well above that again and a multiple again on decent flow rates. Still should not be long to wait now :)

Got to say, I am a little worried about the below. I looked up the rig being used and you can buy a complete rig for as little as $3.1 million!

"Specifically, the Concerned Shareholders had concerns about the power rating nature of the selected rig and the risk of unplanned overruns, unnecessary costs and unforeseen remedial actions (including unplanned side-tracking) due to the selection of unfit for purpose equipment. The most recent update on well WR-B1 was made on 28 July 2021, with no further update given by the Company since that date. What is the status, both operational and from a cost perspective, of the current well campaign?"
https://blockenergysupport.group/update-for-block-energy-shareholders-re-requirement-for-forensic-investigation/
https://www.world-rigs.com/landrigs/equipdetails.php?id=468

We need to see a positive update this week as expected.

MP, the shareholder group say they will pay with their own money. If they want to burn a couple of million of their own cash then let them get on with it. They spend the money and the company gets a clean bill of health and we might actually see some buyers of shares again instead of the pathetic volumes of late.

A nice update now on TD will put a little icing on the cake :)

"The Concerned Shareholders have proposed this resolution as they believe it is in the Company’s best interests and not to cause unnecessary nuisance or cost. To ensure other shareholders are not forced to commit more funds and to ensure there is no financial impact on the Company to give fellow shareholders comfort, the Concerned Shareholders are willing to meet the full costs of the investigation."

https://blockenergysupport.group/update-for-block-energy-shareholders-re-requirement-for-forensic-investigation/

Cash position is strong, so yes bore bull by the looks of it.

"Challenger Energy Group PLC said Monday that technical findings from the Perseverance-1 well in the Bahamas support a forward program, and that it is working to find a suitable farm-in partner." Anthony O. Goriainoff, Dow Jones

https://t.co/xxNMy2Hhzp?amp=1

Like AJ posted the first stage of restoring some faith is for Wells WRB1 and 2 to come in on time and on budget with the first of those due any day now.

GLA

Blimey due to the long length of time without news and the all important flow rates the vacuum is being filled I suppose.

I don't expect shareholders will have to wait to much longer one way or the other?

Will they now revert back to the original targets identified or have another pop at tai?

Most people read the RNS and don't make a scene all over the weekend because they could not be bothered to read the recent RNS.

Here it is again just for you.

Read the RNS and stop making a fuss about nothing.
RNS Number : 8042E
Scirocco Energy PLC
09 July 2021

"As previously announced, Jon Fitzpatrick,Non-Executive Director had stated that he would not stand for re-election and following today's AGM, he is no longer a Director of Scirocco."

Well what can I say, your little black book is probably full of black marks, many of them no doubt completely irrelevant or just plainly wrong like your Sat 12:54 post suggesting that JF was still a director.

What matters is this deal closing and the appraisal licence for Ruvuma.

No doubt it will be done within statutory required timescales, he is no longer on the board, so no big deal.

Time for an update on the first revenue producing asset, they done this deal yet?