Member Info for Hepseal

"For the period from 15 February 2021 to 31 March 2021, it sold 38.4 MMcf of gas for $125k, resulting in a weighted average price of $3.26/Mcf."
According to my sums this works out at approx $18.4 per boe.

Kenirogas

The figures Geowiz quotes are plucked from THIN AIR, last week it was 250 boed, this week it is 200 boed.

The latest ACTUAL FIGURES that I have referred to below are from the Annual Report published earlier this month.

Geowiz - The below is an extract from the recent statement from the CFO:

"The average production rate for February and March 2021, after WR-38Z had commenced production but excluding
WR-16aZ (as the well is currently suspended), was 573 boepd. The average production rate for the four-month period ended
31 May 2021 (excluding WR-16aZ) was 526 boepd."

Simple maths - that means the average production rate during April and May was 479 boed, only a guess but I suspect that included approx 350 bopd oil and the rest was gas.

Of course, hopefully we will have an improvement on the above figures due to the ongoing maintenance programme of the existing wells and eventually the W16aZ intervention.

A very IMPORTANT POINT, please refer to AJW's EXCELLENT post today @ 13.45. regarding the new well WRB1 - This well is a whole new ball game compared with the existing wells for various reasons - I suggest you read his post.

Yep - it could have been a private holder committed to selling for whatever reason and they waited to sell on spud announcement day to hopefully get a better price, just did not work out for them - only thinking out loud!!

Thought I was on the wrong chatboard for a minute, eyebrows, beard, what next? - dont anwer that!!

Agreed - and someone on the other chatboard confirmed a 2.75 trade was their top up.

Goliath - Exactly

Geowiz - "They need to update the market on the latest production figures."
How many times have you asked that same question?? - There will be a Quarterly Operations Update up to the end of June so you should have answers either on the 30th June (AGM) or the first week in July.

Hi Jack - In answer to your question because I got a quote to buy at about the same price at about the same time.

You could be right Tony, 3p just paid for 200k

18-Jun-21 09:20:51 0.2738 3,649,382 Sell*

I think you will find above trade is actually a Buy.

I am sure you were correct RT - you did not say today.

Thing is Spud we have a better team now and more knowledge of the opposition so are chance of winning from hereon should have improved.

Another tweet from Block:

“Everyone is turning overly bullish with crude prices. The crude demand outlook is very robust as recoveries across the US, Europe and Asia, will have demand return to pre-COVID levels in the second half of next year”

Streams has a Standard package @ £10 per month aimed at individuals and an Advanced package @ £150 aimed at small business.
The Advanced package would appear to be where the money is but looking at the search topics below has got me thinking there could possibly be a significant amount of individuals signed up to the Standard package.
Just an observation!

Geowiz - You keep on and on and on and on about the production figures.
As you well know Block have recently stated the average boed for the four month period Feb - May.
They have also stated there will be a quarterly Operations Update for Q2, so I would guess about the 6th July, not long to wait.
In the meantime:
On 31 Dec, 2020 they had 28,000 BoO in stock.
In Q1 they sold 26,349 BoO
In Q1 they produced 29,800 BoO
In Q2 based upon what we have been told I reckon average oil production with WR16aZ currently out of action will be approx 350 bopd.
So up to end of June in very round figures say 60,000 BoO in stock @ $70 = $4.2M netting possibly approx $2M if sold in Q2.
All the above is of course just the base production to keep the wheels turning and hopefully as MP has indicated if WR-BA meets its target the annual company revenue will more than double.

As Ribobuk has mentioned Krunch Data and Quanta Media (in a negative way) could I suggest anyone not familiar with the company and requiring further information that they read the following RNS's on the company website (investors section).
RNS 25 March, 2021 - Acquisition of 49% of Krunch Data
RNS 31st March, 2021 - Quanta Media Partnership and Funding
All sounds very good business sense to me and overseen by the "Independant Directors".

AJW - I will be more than pleased if WRBA produces large amount of gas as you suggest but the Corporate Presentation refers to WR-BA as an OIL WELL and the target figures are 550 bopd and 0.31mmscf/d (55 boed). Also this document now refers to WR16aZ as an Appraisal Well - never said it came from you.

AJW quote: "new wells WRBA and WRBB both are likely to produce Middle Eocene Gas in quantities that will surprise Block just as WR16aZ did."
AJW - WR16aZ is now classified as an "Appraisal Well" and since that time Block have aquired a 3D Seismic, engaged various Consultants and employed a strengthened Technical Team so for the time being I am going to rely on the target figures for WRBA that are quoted in the recent Corporate presentation and RNS.

Excellent post City.

Very interesting that you think the legacy business may now be the bigger picture, I had been thinking on the lines of a 50/50 split (legacy / streams) but I can see both taking off and the balance may well change.

The advantage of not having all your eggs in one basket.