RE: PAUL HAYWOOD14 Feb 2024 22:24
Hepseal you naughty boy … I notice you purposely skipped the latest update .. quarter 3 which included the latest well which was a bit of a doozer and put them into positivity , so all things going well … they should be able to cover all bills
Oil and Gas Production
During Q3, gross production was 58.0 Mboe (Q2: 60.4 Mboe), comprising 44.3 Mbbls of oil (Q2: 48.5 Mbbls) and 13.6 Mboe of gas (Q2: 11.9 Mboe). The average gross production rate for Q3 was 630 boepd (Q2: 664 boepd).
Oil Sales
In Q3 2023, the Company sold 24.9 Mbbls of oil (Q2: 38.0 Mbbls) for US$1,740,000 (Q2: US$ 2,451,000).
As of 30 September 2023, the Company had c. 17.34 Mbbls of oil in storage.
Gas Sales
In Q3 2023, the Company sold 57.4 MMcf of gas (Q2: 50.3 MMcf) for US$ 256,000 (Q2: US$ 266,000).
Block Energy plc's Chief Executive Officer, Paul Haywood, said:
"The third quarter of the year saw continued progress from the Company. Block's third consecutive well continues to add confidence to our Project I drilling strategy, whilst positioning the Company to pursue the higher impact opportunities throughout our portfolio, such as those defined within Project III and now being audited by RISC. Focus now shifts to the spud of our fourth well under this programme, KRT-45Z whilst we continue to advance our high impact strategy across Project III. I look forward to providing further updates on this activity soon."