Member Info for Hepseal

Thanks AJW - I agree, and after reading the RNS again, 13th July, it does state "monetise the gas", but because the RNS did not make a specific mention of constructing the pipeline I was having doubts.

So are you saying AJW that the "surface facility upgrade to KRT-39 in Q3" includes constructing the pipeline from KRT-39 to the EPF and we could then be monetising gas / oil from KRT-39 in Q3??

Interesting snippet Bobby re artificial lift.

Also KRT-39 surface facility upgrade to look out for in Q3 - I assume KRT-39 will then have to be connected up to the EPF although there was no specific mention of this in the Q2 update?

JFL - Your name does seem to have a familiar ring to it!!

CP - The vote is NOT pointless - It has to take place and if the proposal is not defeated then you can say goodbye to the continuation of the envisaged drilling campaign.
What is pointless is an audit at this particular point in time in the middle of a drilling campaign, irrespective of who pays.
If the need for an audit was so important why did they not ask for it in 2020, after the 7th April RNS and prior to the end of year placing which they participated in, not logical.

The Company has approached the firms specified in the proposed resolution to obtain quotes for the
forensic report which would be required if the resolution were passed. One of these firms has stated to
the Company in writing that “Based on our experience, we anticipate the cost of an independent forensic
investigation to meet the scope as presently envisaged could exceed £2 million (excluding VAT and
expenses)”. In addition, due to the nature of the request and scope of work, they would also seek an
upfront payment on account of 50% of their estimated fee (£1 million), payable on the execution of an
engagement letter.

Two conversations here - my post below was replying to Scooby's post!

And therefore because they are taking action NOW that would seem to indicate they think the drill is going to be a success!!

Yep Maqsood7, I was thinking along similar lines, Block could have delayed the meeting until mid September if they had wanted to so the fact that they called the meeting for 1st September, allowing for time to vote, etc suggests to me that we may very well get a positive operations update RNS this week, I am guessing it could be Tomorrow, Wed or Thursday.

ma2brw - I thought exactly the same as you, Ha, Ha!!

I would say it could be a Buy or a But !!

Extract from statement - $1,000,000+ it is:

" Furthermore, the investigation specified by GPJersey is unnecessary and would be very costly for a small company. Initial price indications received in line with GP Jersey’s scope of work are in excess of $1 million. Such a cost would have a material impact on the Company’s financial position and prevent it from using its cash to fund further drilling operations. An independent forensic audit is unnecessary and would be a very poor use of shareholder funds."

I suspect that the second resolution was possibly a subtle (or not subtle) attempt to influence the first resolution??

Obviously un researched - A good reason not to pay for his subscription service!!

Waiting for the Best Man to get out of prison!

I would suggest what they really need is a high calibre Executive Technical Director.
Assuming CV goes they will also need one or two replacement NED's in due course.

"Good morning from the Rig J40 drill floor – ‘Making hole’. Drilling ahead WR-B1 in the Middle Eocene reservoir 8 ½” horizontal reservoir section."

"Great progress for #BLOE in the last 24hours towards our target depth for the well."

RNS:
"We believe that the Agency has built a close and productive relationship with the Company and the
management, based on a strong sense of trust, developed over many years."

Note the word "trust".

BLOESupportGroup, for transparency, a couple of questions please:
1) According to LSE you have been a member since 25th June, 2015 - what identity did you previously post under?
2) More recently, the poster PHSFP seems to have disappeared to be replaced by yourself, am I correct in thinking you are the same person and why the name change?
3) What do the letters PHSFP stand for?

BLOESupportGroup, for transparency, a couple of questions please:
1) According to LSE you have been a member since 25th June, 2015 - what identity to you previously post under?
2) More recently, the poster PHSFP seems to have disappeared to be replaced by yourself, am I correct in thinking you are the same person and why the name change?
3) What do the letters PHSFP stand for?

Vox Markets will conducting and investor Q&A with
@BlockEnergyplc #BLOE on Wednesday 4th August.