Member Info for EXMEX

The rig has been on site for 31 days now so the drilling of the 800/900 metre pilot hole should be in it's advanced stages . Information gained from this will give Bloe a better understanding of the composition of the Middle Eocene at Well38 and also tell them more accurately the depth at which the zone starts and finishes (supposed to be approx 200 metres of depth to the zone) .This will enabled them to target the top section of the Middle Eocene when they drill the horizontal part of the well Looking at the information provided they have drilled out of the side of Well 38 much higher and this appears to be just above the Upper Eocene zone .My understanding is that this new section down to the Middle Eocene will be totally sealed before switching to slotted liner fitted with a series of expandable packers on the horizontal section .These packers will need to be used when the horizontal section passes through any of the major vertical fault lines as these extend a long way down and seem to act as channels for the flow of water . Well 16 despite it's problems with water has shown that there is oil in the middle Eocene in this area . This more cautious and technical approach should help no end with Well38 .

I've just been looking on the Georgian Oil and Gas Corporations web site and under the tender's section I see they have an auction on the 30/09/19 for 12,000 tons of oil (87,000 barrels).This oil is in several lots with two of them coming from the oil storage facility at Sartichala which Block use and another from Norio .I do know that under the PSA deal profit oil is shared with the Georgian Oil and Gas Corporation on a quarterly basis which fits in with them selling their share at the end of September. What it doesn't tell you is how much oil is in each lot and I don't know if Block share the storage facility with anyone else.

Mike 31 you seem to have a selective memory. It's not too long ago that you were ramping away banding the 46p figure about and stating we're not half way there yet ,whilst at the same time selling out .

AJ, the actual sum raised equates to approximately$14.5 million ,which is a better figure to work with as everything is costed in dollars.
I found this link the other day showing how much Schlumberger paid to the the Georgian Gas Corporation for 2018 under their PSA arrangement .The payment was made in barrels of oil (55,857) which means the actual production levels would be 3/4 times this .
https://www.businesswire.com/news/home/20190326005696/en/Schlumberger-Ld.-UK-Regulatory-Announcement-Reports-Payments

I see the web site of Georgia Oil and Gas seems to have been updated and is working again. There is a useful map on there with all the different blocks superimposed on it .Zooming in on this in satellite mode can give you a clearer indication of where the West Rustavi block starts and finishes and and the nature of the terrain for any above ground operation's .
https://georgiaoilandgasgas.ge/
If this is old news regarding the web site my apologies.

SimonT, in the interview Phil Dimmock states we've been stepping up the rate from the start in steps .

I think what Malcy was alluding to is the new pr company that Block have taken on
https://www.camarco.co.uk/about-us/

TonyF , I'm in full agreement regarding the Malcy interview . The rns for the spudding of well 38 could land anytime and Block promised to release the interim results for the year ended June 30th 2019 before the end of September, which gives them eight and a half trading day's to do so .This should also contain an update on current operation's post year end .

Malcy did say that PH was happy to make the interview and he was going to get chapter and verse from him . I can't see any of this being released before the rns lands unless all they talked about was the weather in Georgia . Did PH get any of the contract's for the selling of oil and gas signed while he was in Georgia?

Simon T ,if you're going to post a link make sure any comments you attach correspond with it . The peak year's of production were between 1974 and 1984 from the Samgori field and the 200 wells you quote were on this same field .West Rustavi is a seperate area 10 miles from this and exploration only started here near the end the Soviet era . The old Soviet Union collapsed at the start of the 90's and so did the oil industry in Georgia.

Just been taking a look and I can see why Block went to a 100% WI interest on 15/07/19 four days after resuming production . Under the lower % WI they would have had to pay a bonus to Georgia Oil and Gas on each well if production on that well went over a certain level for 60 days , but the 100% WI rules this out .
These bonus level's were
200bopd over 60 day's $150,000
300bopd over 60 day's $250,000
400bopd over 60 day's $350,000
500bopd over 60 day's $500,000
These bonuses were only payable once on each well and say they started at 300 bopd for 60 day's they could have increased production rates at a later date without incurring extra payments.
The spud date for 38 must be getting close now and if we don't get a general operations update before I would expect one with the interim results in just over 2weeks.

Try again. http://georgiatoday.ge/news/12894/ExxonMobil-to-Study-Hydrocarbon-Resources-in-Georgia

Another large operator starting to show an interest in Georgia is ExxonMobil.They are currently conducting a study of hydrocarbon resources for the Georgians
http://Georgiatoday.ge/news/ 12894/ExxonMobil-to-Study-Hydrocarbon-Resources-in-Georgia

Just to add the Samgori/Patardzeuli production field is situated approximately 10 miles to the north east of West Rustavi .This field was originally discovered in 1974 with oil produced from the middle Eocene . Between 1974 and1984 200 wells were drilled into this field which covered an area of 60 square kilometres .During the 10 years of peak production 172 million barrels of oil were produced from this field with initial production from many of these wells coming in at 3,500 bopd .

Looking through the updated list of major shareholders (13/08/19) I see that Miton still retained a holding of 17,624,967 shares .This is only down by 1,000,000 from their Tr1 on 17/07/19 .Seems like they have retained a large portion of their holding.

Nomura ,I was asking where you got your fact's about the well .Nothing to do with sales .

Nomura can you provide fact's relating to your final statement about the well ? What you are posting has not been in an rns and is completely at odds with what was said in the interview with Phil Dimmock.

AJ , I don't know whether you saw the link that was posted recently relating to IDC of Tbsili .They had been given a contract by Schlumberger to design and obtain the permits for the construction of a 19.6 k gas pipeline last December..We know they have been appraising the gas in the adjacent bloc to Block Energy , have you any thoughts on the above ?
http://idc.ge/projects

djm1 i was just trying to point out that if that problem is encountered it's a fairly straightforward fix . I'm invested here on the back of a four well programme going forwards . Gla

AJ, just read your post on changing the slotted liner to a solid liner where the water is suspected of entering the well. Another technique they use is to leave the slotted liner in place and inject a sealant behind the the slotted liner in the area where the water is entering .There is a brief description of this towards the end of this link https://petrowiki.org/Controlling_excess_water_production