RE: Undervalued23 Apr 2026 12:41
Anyone notice this before..... could explain the silence
Project II:
The Company continues to advance a detailed field redevelopment plan for Project II, focused on unlocking substantial contingent resources through the application of its proven slim hole drilling and completion techniques, infrastructure optimisation, and phased production reactivation.
'The redevelopment effort and supporting plan, will form the basis of a high-impact farm-out opportunity' for industry partners seeking immediate access to significant resources and near-term production with infrastructure. Given the onshore nature of the project and proximity to infrastructure (including the intercontinental Baku-Tbilisi-Ceyhan oil export pipeline) the redevelopment has significant economic value.
Patardzueli-Samgori Middle Eocene (Project II) contains 2C contingent resources of 235.0 MMbbl (Block Energy, 2022).
Project I
The latest project I well, KRT-39ST, was drilled safely, on time, and within budget, marking the first successful application of the Company's 'slim-hole' technology in Georgia.
The operation, executed using the Company's own rig and crew, achieved its primary technical objectives and validated the efficiency of the drilling methodology. Completion operations are currently underway after which the well will be passed to the production team as part of Company's baseline Project I production portfolio.
under project 2 ......