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From the recent RNS:
"Following completion of the sand jetting operation, as announced by the Company on 12
February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not
a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered."
So I assume SCHB 2(2.) will continue producing at varying nominal rates until such time as it is plugged next month. Previously the flow rate was 40 bopd, so presumably not less than this, also there was an additional 30 bopd from the other existing wells which will presumably continue throughout.
Mikeepikee & Billyboy - Thanks for posting - at least the company respond to emails with a comprehensive reply which is more than some. We also have some reassurance that the risk on the new side track should be greatly reduced, therefore a much greater chance of success.
On the subject of xxxx cowboys, as I posted yesterday, if you go to Street view for the well site which by co incidence is dated the time of the drill last year you will see there are a couple of Schlumberger vehicles parked on the site so it would appear that the company are using the industry experts.
Bobbby - Not sure if this helps at all but my hunch is that the block and the companies involved are the ones referred to in the following extracts from Business Media Article, 2017:
"On 3rd April 2017, the Georgian State Agency of Oil and Gas announced an open international tender for issuing a general license for oil and gas resource usage on V," etc, etc.
"As BM.GE was told at the Agency, the winning companies have already been revealed. Negotiations with consortium, which includes an engineering company West Gulf Petroleum, Ltd. and Chinese New Star, have been completed for the V block, area", etc,etc
Https://twitter.com/BeaconEnergyPlc/status/1752294041713094956?t=bWO73Kd_DXzWtun1OOKBug&s=19
FeverTreeMadeMe
"the last mob sound like real amateurs"
Not sure if that's true because if you go to Street view for the well site which by co incidence is dated the time of the drill last year you will see there are a couple of Schlumberger vehicles parked on the site.
It occurs to me that even if the sand jetting had been deemed a "success" we could have ending up living with a lower flow rate that what we might now achieve with a new sidetrack - possibly a blessing in disguise??
OilyFred - "the only thing any one is entitled to is the air you breath everything else is down to you."
Not if you are unfortunate to be struck down with illness or disability through no fault of your own - I suggest you look back at see how this discussion started.
Thank you Ezhik for your technical input, very helpful - what I take from your post is that we will get there in the end but as of today we can't be sure for certain how quickly or at what cost - lets hope it is quick and cheap!!!
I still think we will get an RNS in the coming week to say we are back in production although taking your comments on board that could possibly include some caveats regarding the flow rates.
With respect, what you folk hope for is irrelevant.
The last RNS basically says that we will be notified once production has recommenced and a stabilized and sustained flow rate is achieved so as it was indicated the rod pump would be re installed last week I still think an RNS next week is on the cards, possibly as early as Monday.
Full clean up will then carry on for several weeks afterwards prior to installation of an ESP in April.
The RNS on the 29th Jan envisaged sand-jetting operations and reinstalling rod pump would take 10-14 days
The RNS on the 12th Feb confirmed the sand-jetting operations were completed but reinstalling rod pump and resumption of production would be completed in the coming days.
In view of the above wording I think it is reasonable to assume that production probably recommenced approx 1 week ago and we are now just waiting to have a "stabilized and sustained flow rate" confirmed.
GLA
I am sure that PH has been talking to other parties long before the Turkish Conference, during the Turkish Conference and after the Turkish conference, and furthermore they won't be restricting their reach just to parties that attended the Turkish conference, but the facts are as follows:
Date Of RNS: 12 Feb 2024
Title of RNS: Project III Farm-Out Process Commences
Piscator1
The Independent Engineering Report (IER) only became available on the 08 Feb 24 hence the following further announcement by RNS regarding the commencement of the Farm Out process dated 12 Feb 24:
"Block Energy plc, the development and production company focused on Georgia, is pleased to announce it has launched the farm-out process for Project III, targeting the development of a gas resource of strategic significance to the Georgian state through the appointment of LAB Energy Advisors Limited ("LAB Energy"), a leading independent energy advisory company."
Where do you get 4 weeks from, PH mentions a marketing campaign of 3-6 months which will have only just started so IMO if a farm in partner can be found I would say a minimum of 4 months from now and possibly a lot longer before they would be in a position to make any sort of official announcement - only my opinion.