Member Info for Ezhik

Oil could be migrating from areas adjacent and below the open section of the well, i.e.entering the well above the concrete plug from the natural fractures and pathways from the formation below it and to the flanks. If there is a connection between the open section and the reservoir below via other means other than literally past the plug then it bodes well for production. If the plug quality is poor there may be pathways between the well bore and the outer face of the plug such as air holes or perhaps scrape marks on the casing that are too small to be filled with concrete but will allow light oil under pressure to find a route through. Lets hope it doesn't wriggle its way loose and come out the top under pressure, Trump will think that missiles have been launched. Just musing, the above is not technical knowledge from similar situations just theorising.
And yes--a bit of a wait here I think. No guesses as to how long.

By the way. I'm not sure if anyone else has given it any thought but the difference between a 3mm diameter choke and a 6mm choke does not equate to twice the size!. i.e a 6mm choke does not automatically mean 1400 bbls of oil.
We are talking about the area of a circle and not just its diameter, therefore the difference is significant. i.e. 6mm diameter gives 4 times the surface area, therefore if the well pressure remains the same when the choke size is opened up then in theory the production could be 2800bbls a day or thereabouts. I'm not saying it will be of course but in theory....innit.

Hey Coldie

"Pumping 700bopd through a 3mm choke is ridiculous, that oil wants out of the ground. And BLOE are well placed to get it"
Block should post a big sign at the Well site "No pumps required". That 700bbls or to put in perspective for some folk, 22,500 gallons a day is being forces through that little 3mm diameter hole under natural pressure---It will be at an impressive velocity, speed of a bullet comes to mind

Read the bl**dy thing. The choke size is 3mm as per earlier rns. the incorrect size was quoted on 1st April rns--the one that doesn't show on LSe

Degsy. No mate, but horizontal is in the melting pot for future. This one is supposed to be vertical, testing two zones. Eocene and upper cretaceous. Well was producing oil before, therefore there is no doubt that oil is present--This one wasn't producing much but they may have missed the production zone when first drilled. Upper cretaceous has not been widely explored and I think not at all in this field. Nearby well drilled only to Eocene allegedly produced some 700 bbls a day when drilled by the Russians. If that can be replicated and if the Upper Cretaceous is positive then it will do as well as if not better than Bloe currently. These are deeper wells than in Georgia, more tricky and of course take longer to get to the bottom. This one is only extending the current well by a few hundred metres which should be straightforward for this equipment and the crew from the rig manufacturer. i.e 3-4 weeks and then see what they have got.
Once the rig is ready and we have a date for drilling, get ramping. 3 x current SP would be good.

Moving up the risers board today, should bring it the attention of those with some profits to spread around, well that my prophecy in any case.

Spread tighter than advertised, looks ready for another move up with a couple more buys. Rampety ramp. I'm learning the jargon. :)

KB, Looks like I should have bought that extra 200k Zen shares when I mentioned it this morning at 3p. Pity about your deal at Bloe. there is always risk and there was no guarantee that the well would continue to flow at the test rate, I believed that it would actually flow more than the test figure after clean up and it may still do that when they can handle it. A few more weeks for that to get sorted out I think.

Well done Zeb.

Through a 3mm diameter orifice, jeez, what a pressure and flow through a tiny wee holey. I bet that pipework is rattling a bit, especially with there being gas involved. Love it.

Thanks. It would be nice to know whether anyone else had a flutter over there as a result of either me or S7 mentioning it on here. Its good to see folk making a few extra pennies as you say. I did sell my little bit over there today, probably regret it, but if it drops back I will have another go. If Zen are still at this level in another couple of weeks, I will put it in here. Another 200k at these prices would reduce my average which is tempting.

GG. Zen is always the first port of call to see what is. and then bloe as I only have pennies in there--pity.

Like minds. OK, I'll go with 120m. lol

Wilfred. Not sure that anyone can tell you that matey, not until close of play, but this imv is a 100m company in the fast lane. No immediate debt, 12m profit from one well. Go check typical P/E ratios for oil Co's see what you get and decide what to do. You have 60 seconds !!

Over in Georgia today. I wish all companies wrote such clear unambiguous news feeds.

Replicate it over here please Zen. Soon as you like.

LOL. The gas from the well is Brucie Bonus ffs. lol. The fact that it will be taken as part of the earlier MOU stacks up big time, MOU becomes an offtake agreement and not just a shaking of the hands. Bit of a difference innit. MOU's are two a penny.
Oh and the infrastructure is being installed by the buyer. Oh and Georgia GDP increasing faster than any other 'Eastern Block' More development, more business, more gas required.
Hey I am almost ramping.

?. Wake up man...

To read such a well scribed RNS together with explanations of the terminology. That extra million from gas is a nice bonus and environmentally beneficial. I agree with the Carlsberg analogy. Well done Block. Now why didn't I buy more at 3p and 4p--oh yeah, I had no money left. Bugger.

Err, No. This update is better than expected. Your comment is correct in many cases, not this time.

Obvious statement but things are hotting up. :).