Member Info for EXMEX

Just been reading the full CV for Block Energys chairman Philip Dimmock , vast experience indeed .Hope the link works.
https://www.mandg.co.uk/-/media/Press Releases/Philip-Dimmock-CV.pdf

Oneandonly1 if you're going to bash a share make sure that you have all the up to date fact's. Try reading the rns from 15/07/19 .

Thanks for that post Papillon 1, I see where they're coming from with the overlap. Information gained from this extra coverage could also be valuable to Schlumberger to the north of Bloe and Georgia Oil and Gas who currently have the block to the south . Gla

So what your saying is the opex costs for running 4/5 producing wells are the same as they are for one well.

Garyn the cappex costs of $2.4 million for the West Rustavi field you quoted are for a full year with several wells in production averaging 1288 bopd ,not one well and 300 bopd .

Garyn, Block can retain up to 50% of sales to cover opex and cappex costs . Any costs not met by this are carried over to the following financial year .The recovery pool currently stands at $20 million so the profit oil will be shared 50/50 until the 20 million is cleared .

Hi Sieveco, your post regarding the PAS agreement is quite correct . Thanks

Papillon 1 thanks for the post earlier,if I remember correctly it was PH who originally mentioned the 3D seismic covering an area of 80 square kilometres during the Lse presentation in June . Looks like he shouldn't have mentioned the extra 44 sq kilometres. Gla

Where's the electricity going to come from once this connection to the national grid is in place ?Looking at the current situation in Zimbabwe those two generator's at RHA will be needed more often than not unless the country gets a significant rainy season to fill the dams that provide the water to drive the turbines.
https:/www.businesslive.co.za/fm/features/Africa/2019-08-15-zimbabwe-a-powerless-state/

Did anyone find any more info about the 19.6 kilometre gas pipeline that was being designed with all the necessary permits for the Schlumberger Rustaveli Company .This job was awarded to IDC of Tbilisi last December and was due to be completed in July just gone .

V111JAS did you notice that the director's share holding's list on this site gives a far larger holding for PH and NT . After buy's on June 5th their holding's are shown as 3,726,837 and 3,806,837 respectively .The bloe site was supposed to have been updated on the June11th,did they fail to change these?

The Georgian law states that gas flaring is allowed for the duration of the well test ,there is no stipulation on the number of day's.It's worth remembering that an extended test gives Bloe the time to sign a contract for the gas and get the infrastructure in place whilst still being able to produce.

Plenty to look forward to over the coming year for starters. Just to point out the July 8th rns stated that Bloe would be re-entering and side tracking 4 more wells at West Rustavi in the current campaign .One more than was mentioned in the presentation rns at the end of May .Two of these will also be appraised for their historical gas discoveries. As has been mentioned this morning the 3d seismic survey and gas offtake agreement are crucial next stages of the operation and news on these can't be far away .

It's reappeared,my eyesight must be playing up .

Well my post soon got removed ,must have touched a nerve.

Oh dear ,oh dear Mike one things for sure Bloe aren't paying 12 grand a day ,84 grand a week for a rig to sit idle like that company you claim to be invested in . Let's hope they resolve the issues quickly or it's going to be one hell of a bill.

Good to see operation's starting at 38z . In the interview on Tuesday PH stated that the water cut at 16z appeared to be coming from the upper Eocene formation ,not the lower Eocene which they have targeted with the horizontal drill. It makes perfect sense to use the work over rig on the vertical well at 38 to address these sort of issues before getting the main rig in to do the horizontal drill. Gla

Did anybody watch the video that was posted last Wednesday, having been recorded at the end of February. Despite the poor quality there were some useful bits of information in there . PH was questioned about the gas well that Schlumberger started drilling last June 2018 in the block next to West Rustavi .He answered that they were completing six tests on this well and it would take several more months to complete these .He then added as and when the time is right the Georgian government will be announcing the results from Schlumberger .This is the same gas play that Bloe will be targeting later this year with well30 .
I also read in the corporate presentation that Bloe have the option to sell the gas to the State for the underground storage facility. Work on this storage facility was only due to start this year so that option will be a good way off. Gla

Nicodemus63,Sorry it should have read millions .The info is in the June 2017 rns on Blocks website.

Parkez in answer to your question regarding block V111 on April 11th 2017 Bloe took a percentage at Norio and the option to farm in for 70% at block V111 by 31 /05/017 . However during May 2017 Georgia Oil and Gas were awarded further licences with West Rustavi being one of them . Bloe then chose to farm in on to the West Rustavi block instead .Around the same time Schlumberger took a100% interest in the adjacent block to West Rustavi with the aim to prove up the gas . Historical there has been 10 wells on this block showing gas flows of between 8/10 MCF/d each.