Member Info for Ezhik

Thanks SI I'll have a listen when I get chance.

So. How much cash does Hex currently have? What is the estimated cost of the appraisal well? + Test

Oh dear Morpheous. How embarrassing for you. Probably best if you refrain from posting here ever again.

They said a couple of weeks or so to try and make sense of the oil drip, could take 3 or 4 weeks but is only 10 days ish at the moment so dont expect anything and dont give it a timescale. Something will happen at some point and thats about as much as anyone can expect at this stage.

You have to ask how many samples has the geochem seen before you decide that it is anything special :). The best of what? 3 previous samples? 1000Samples? The statement may not be a lie but it needs to be in context.

Gemstar--forget about it. There are merits to either type of pump, the BOD are hardly going to go into the detail of why they chose the ESP. -- I'll give you a reason if you like--the ESP can be adjusted from the surface to take into account the fill rate of the well, they are more efficient.

Well, it's more or less what I was saying yesterday. Connect to their own production facility, sort out whatever the issue is with the pump, do some more pressure testing, build up test, D.P. test. Try to understand how they have such a huge mis match between what they have announced and apparently believed to be the case and the reality of what they have and investigate the possibility of improving it.

HMS. I am in a right mess here financially along with plenty of others that will probably put on a brave face and say ach, it's only money. So without going into blaming everyone else or name calling as is often the case with some of the angry little posters on here. The rns announcement is that they will fix/adjust/reconfigure or whatever they need to do with the pump and then put it on some kind of production. The production facilities belong to BCE therefore no additional cost which is a small positive. They can't say what the production is just yet and not until they reach the stage of connecting it up and allowing it to produce--proof of the pudding and all that. They are hoping for some improvement by mentioning possible clean up, and they say they will re-examine the pressures to attempt to understand what might be going on. Nobody in their right mind could imagine that the outcome is going to be great, but there is some slight hope that once they have done what they say they will do, it might look a little better than it does today, but it certainly isnt pretty--who knows. Could be they decide to give it up and go back to selling pencils or whatever they did before they became an E&P company

Prophet. What are you talking about, where did you get the idea that this sidetrack is contaminated.

40bbls a day was not from this wellbore, it was the initial response from the neighbouring one. they are unable to give any flow rate yet for the sidetrack well other than it is 'poor'.

No, there is no rod pump. Understand now?

@newtrade: Make sure they havent blocked it again. Check the reservoir pressure. Clean up the bore to get rid of the skin- usually an acid trip- yee hah. See what happens and whether it flows more than two squirts a week.

They should have taken core samples to demonstrate the rock structure and permeability to confirm what the geologists were saying. Good permeability with a relatively low pressure would still give a flow of oil - if there is any oil to flow. They could Inject gas into the formation to increase the pressure and hopefully the flow. They could stick the geologists head down the hole to have a closer look, they could drop the trousers of whoever intimated there was good pressure and permeability and make good use of the 'dope brush' or they could go to Church and pray for a miracle. If there is any less awful news, they havent entirely given up. Maybe due to sheer arrogance or maybe there is evidence to support a bit more fiddling about with it.

Worst nightmare. All the previous assurances that the well was capable of producing 900bbls a day was just fiction. Bottomley knew it and retired without the personal legacy of total failure attached. The rig is still there, so despite the so called inside track about it de-rigging last week was false heresay information. It now looks like the previous water jetting exercise was actually successful and the then low producing well was as good as it was going to get. The only fools here are the PI's and anyone still holding from the 0.15 fund raise.

4 v 1 on the scoreboard. just need Peel to Peel off and let Zeuscapital in at 0.6.

Troajan. I might just fing out tonight mate. I love a good fing. Lol atb

There has to be a differential pressure between the formation and the well bore otherwise there would be no flow at all.

They already decided they needed pump before they started drilling, my point has nothing to do with the ingress of mud into the formation but is asking how did they decide that a pump would be needed. In other words why they decided that the well would not be capable of producing on its own ability right from the start. The point is about the geology not the skin on the bore.

We've debated this already. I think rod pump, fever thinks ESP. Each have our reasons. Either way it doesn't matter, the thing that matters is being able to produce in excess of 250bbls a day over the next few weeks. They might forego the rod pump, it was my first thought then I changed my mind on the basis that there is no point installing a more expensive, less robust pump if the well doesnt suit such a pump yet. Question everyone should ask is why do they need a pump at all.:) Why, if the Differential Pressure between formation and wellbore is good and the permeability is good, why wont the oil flow to surface. If they believe the well can produce 900 bbls a day or more, what prevents it from chucking it out at the well head on its own ability? Why did the company decide a year ago that the well would need a pump. Maybe the ex geologist can answer.

@ prophet "Regarding the geography I was alluding to the surroundings of this well. I believe it's heavily contaminated hence all the problems☔"

You have misunderstood--I think. The contamination came from the drilling activity--self inflicted. Extra cash paid to try and decontaminate but it wasn't successful--unless you are alluding to something different. Drilling holes in the ground is costly, problematic, never 100% as planned, almost always over budget, but almost all problems can be overcome with the range of solutions and technology available (If the prize is worth pursuing)--and because Beacon are still pursuing, it tells me they believe the risk/reward to be favourable. Unfortunately--the S.P is currently not reflecting that sentiment.

Apols--you mention initial--like the first day or two.

No. It would be a disaster.

FFS its never going to be 1p on one well unless it produces 6000bbls a day- or maybe like many on here you dont understand decimal points. 2-300% from here will be a good result.