Member Info for EXMEX

NICO63 you can't beat some good old Northern Soul , I'm sure we're due a BREAKOUT (Mitch Ryder ) before too long.

UKOG have just commenced a 90 day test on their horizontal well at Horse Hill ,which gives you an indication of how long a full test can take .Block are currently 40 odd day's into the test at Well 38 ,an operation which I would expect NRG to be overseeing .After what went off with Well16 there was never going to be a rushed results rns with Well38, they'll release news when they're satisfied with the Wells performance. We would never hear the last of it from the doom merchant's if a good rns had to replaced by a bad one four week's later.

SEA7 it certainly looks like someone left it till the last minute to exercise the final 4p warrants which had an expiry date of 11/12/19. At the time of admission warrants with an expiry date of 11/12/19 were issued to the following companies ,Novum Securities-1,875,000, Northland Capital 3,775,000 and Gneiss Energy 1,875,000 (Jon Fitzpatricks company).The only other 4p warrants from that time were issued to Spark Advisory Partner's (1,250,000) but they don't expire till 2023. Someone , possibly more in the know than us is expecting the share price to start heading north .

After reading all the post's about the MNH deal I notice that nobody has mentioned the current price of manganese ore .Since April the price has plunged from around $5.5 per dmtu to a low of $2.5 per dmtu 3 weeks ago , even GR stated in the rns that the price of manganese ore is stressed at present. The revenue figures that were released for the 2018 to 2019 year came off an average price of $6 per dmtu for that period , way above this week's $2.71

The occupant's of that house in Georgia will have a good idea what's happening ,the wells nearly in their back garden .

Amati average 80 conference calls a month to the business's that they are invested in . So with an investment of £6 million in Block I would expect this to happen at least once a month with Block .

You've got it.

Gary do a Google search on Janus..

Gary, they could well be a bunch of Januses.

In the murky world of aim all is not always what it seems at first glance . Several weeks ago we were getting delayed trades marked up as sells and the next thing we got a Tr1 from Jon Fitzpatrick with a near 15 million share holding.

The two Solo director's are certainly looking further down the line with their investments . Alastair Ferguson spent 8 years in Moscow working for TNK-BP . From 2003-2006 he was vice president for gas business development Moscow and from 2006 -2011 executive vice president for gas and power Moscow . In these roles he will have known how prolific a producer the upper Cretaceous zone has been in southern Russia .This is the same zone that Bloe are going to start to appraise with the deeper drilling at Well30. All being well the 3d seismic survey should be nearly finished and once those results are fully interpreted Block will have a much better understanding of what's contained below West Rustavi , especially at the greater depths.
https://uk.linkedin.com/in/alastair-ferguson-839b4b140

If you're going to create an account specifically so that you can bash a share make sure your facts are right first . You would have had to buy those PET shares at the beginning of August to get that price you're on about .Best price at the start of November when you say you bought was 5.5p. You would have needed a selling price of 70 odd pence to 13 bag..

BT, I'll stick with what was actually in the rns. It's worth remembering they have a workover rig at their disposal and this is only being used for 3/4 weeks of wireline operation's on each well .This leaves plenty of time inbetween each drill when it can be utilised.

BT ,you posted several days ago that nothing was going to happen with Well16 till H2. 2020. Can you post a link to the to the rns containing this information ? What you posted doesn't seem to appear in any of the rns's that Block have issued.

AJ, I'm in full agreement regarding the potential for more gas at Well38 . Before they drilled the horizontal well Block completed a coring operation down through the Upper and Middle Eocene formations .This will have given them valuable information on what's contained in these formations and at what depth they start and finish. This will have enabled them to enter the top section of the Middle Eocene more accurately and then follow an eastward , slightly downhill trajectory towards Well16. These Middle Eocene hydrocarbon trap's can contain gas in the top levels and the updip location of Well38 should be a good location. A question i ask is, would they have gone ahead with the horizontal drill if the coring results had been no good?

You mean the boards answer to the Two Ronnies . I think they need a new script writer, their present material has got very repetitive.

According to their due diligence section Amati don't normally go above 10% when investing in a company . With their investment of 16.46% they have significantly exceeded their limit and it would appear they see a good business plan in what Block are striving to achieve.

The mm's were putting large trades through marked mid price at the close of trading 4 weeks ago .That was around the time that Block completed the coring operation at Well38 and switched to drilling the horizontal section . Fast forward two weeks and we got a Tr1 from a holder of nearly 15 million shares.

Looking back at the operation's update from 25/09/19 Block stated that they were implementing an evaluation and intervention programme designed to isolate and reduce the water Well16 is producing and to increase nett oil production. In keeping with the company's philosophy of sourcing the best contemporary technologies for the task at hand, Block has selected downhole production logging equipment to identify the respective origin's of the oil water and gas the well is flowing.
The same day as this RNS was released Roger McMechan stated in an interview that this work would be starting in the near future. The A50 workover rig is available to Block and capable of doing this production logging at least . Admittedly it will be used for wire line operation's on the current well programme but there should be plenty of downtime when it will be available.
Going off Simons email to Rob and mention of Well16 it looks as though things could have been happening behind the scenes.
From the same RNS Block stated that they had engaged leading engineering consultants NRG Well Management to further optimise the programme with planning and execution assistance. Seems like they have helped with the design of Well 38 and their experience will help considerably going forwards.

Just to add Mirabaud have not included any gas in their projections for sales and revenue in 2020 , only the oil.