Member Info for EXMEX

We're due a Tr1 at least to update us on Iskander. Has someone acquired another 2.5% of Blocks shares ?

Just been taking a look at the info on Amati funds . From what I can see their investment in Block Energy was split across the VCT fund (51,136,000 shares) and the Smaller Companies fund (13,636,000 shares). From these figure's it would appear they have sold their holding from the Smaller Companies fund as the 13,636,000 equals the amount of sales in the last two TR1'S we have received. Hopefully the fund manager's are retaining the bulk of their holding in VCT fund ,time will tell .

Is news on the intervention at Well16 about to land ? We were told to expect it early February.

Just to add to this evenings debate I read yesterday that license block's 2 and 3 in Georgia are going to be open to tender's in February . Although these two block's are offsea I wondered if GOG might be looking to participate in the bidding as they have with the onshore block's in the past .

Well said Jonny12.

Miton merged with Premier Asset Management last September .However when the year end accounts for the enlarged company were released in November they showed a £ 233 million outflow of funds . Rather a large figure to meet ,hence the selling of shares to help cover this .
They sold 5,000,000 shares in Block during November and the remainder by the year end , which helped the mm's keep the sp in a certain range.

Morning Terrier54 ,take a closer look at the list .

Good to see the significant share holders update on Blocks web site .

Hi Hepseal, Well 16 is approximately 1.37k along the road from the motorway to Mtisdziri on the southern side of this road. There is a larger white roofed building 350 metres to the east of it .

STD ,this is the true definition of several cakes
youtu.be/42ZE4DCJkEo

AJ, Well51 seems to be approximately 180 metres to the south of Well38 .There is a dark circle on the ground which could be the capped wellhead . This is the location the twitter picture was taken from . The buildings you are looking at to the north west can also be distinguished in the twitter picture behind Well38 and contain two fairly tall storage tanks .
The tank at Well16 looks similar to the larger one at Norio and has probably got a capacity of at least a 1000 barrels. Hope this helps .

It's a pity that google earth doesn't update more often .The current images covering the West Rustavi field seem to be from late september/ early October . You can see where the rig is operating at the western end of Mtisdziri village (Well38) and if you move 2.8 kilometres eastwards you can see that Block have installed a large storage tank at Well16 ,which wasn't there earlier in the summer . If you go on google earth and search for Mtisdziri you will find two lot's of drone footage contained under street view. This footage gives a 360 degree view of a large section of the West Rustavi field , giving a clear understanding of the terrain. These drone picture seem to have been taken sometime in the summer as there is only hardcore down at Well38.

You've answered your question in your previous post .The oil in the Middle Eocene is trapped in near vertical fractures and flows up through these , that's the type of flow here .If the fractures were more horizontal you would have to place your next Well further away . It's worth remembering that the soviets drilled 200 vertical wells in the 65 square kilometres samgori/patardzeui field just to the north east of West Rustavi and got loads of oil .

The final 750,000 at 4.50p is flagged as a deferred trade . That's around the buying price at 16.00 .News is due anytime regarding the start of operation's at Well51 , which should be very similar in design to Well38 without the need to do a coring operation as that has already been completed when they re-entered neighbouring Well38 .Then we have 16 trading day's left in January for an update on Well 16 .The flow rates from Well 38 imo will take a bit longer as they will be completing thorough test's at the various rates .What we do know is they have spent good money on the equipment which is currently installed down Well38. This will enabled them to monitor how different section's of the well are producing under varying flow rates and help them optimise the final production rate . They have also acquired two storage tank's which will allow them to complete the flow test's without interruption . Hopefully the design at Well38 will prove successful after all the lessons learnt the hard way at Well16.

Just took a look at those photos and I'm certain they were taken in the storage yard and depot of Georgia Oil and gas at Vaziani , some 12 miles from Tbilisi.You can see the gantry rail's for an overhead crane in the background of the right-hand photo. This same gantry can be seen on their web site with the big drilling rig parked under it .Makes sense for Block to utilise their facilities as they are working closely with them . The photos released today must have taken earlier in December at least as the smaller tank fixed to a steel platform behind them look's like the one shown already installed and commissioned at Well 38 on the 17/12/19 photo.

Just read the Christmas/New Year message on the Georgia oil and gas website . Some very big figures for potential oil and gas discoveries in the Kura basin being quoted . Looking at the map they have put out with it the red dot for a commercial gas discovery seems very close to where Bloe are operating at present .
https://georgiaoilandgas.ge/news/merry-christmas-and-happy-new-year/

The video that Only1 is referring to was released with the rns on 25/09/19 and relates to the issues they had at Well16 The drilling of the horizontal well at 38 had not been started then .

Plenty of useful information in this link about the flow testing of horizontal wells-
https://www.petroskills.com/blog/entry/00_totm/june-18-sub-what-you-need-to-know-about-production-logging

Hepseal, I posted earlier on today that they are next to each other.Since then Bloe have released a picture on twitter showing the prepared drilling pad at 51 with Well 38 just behind. Gla

The most important piece of information from the update is the fact that they have switched to Well 51 for the next sidetrack. This Well is next door to Well38 on it's northern side .This shows they are confident in what they have found in this area .Should there also be gas it will make it much easier for the infastructure to be installed.