Member Info for Hepseal

Agreed Steve, looking forward to our next discussion!

Well Steve, makes our arguments seem a bit tame!! (1 more post)

Hi Schalfenplanet
You only have my word for this of course, but I can assure that I am one of the "Genuine Investors".
You may not be aware but on Wednesday morning there was a post from R1bobuk accusing me of being a "Liar" and a "Paid Ramper". To say the least I was rather taken aback, I can assure you I am neither and have no idea how he came to this conclusion.
The post was not surprisingly quickly removed by the moderator, before I could complain myself.
All rather ironic really because if you check my posting history you will see that when I first encountered Ribobuk we were actually saying the same thing regarding the timing of that interview.
Anyway, thanks for responding to the issue and good luck with your investment.

AJW
Many posters on this board including myself, and possibly yourself as well, have been under the impression that we were to be paid a fixed rate of $5.24 Mcf for the gas. According to this weeks RNS, this was changed in May, 2020 and we are now only receiving $3.26 Mcf - My point is why have we not been made aware of this until now??

There seems to be a bit of a misunderstanding here, possibly my fault.

The post below are MY COMMENTS, NOT Malcys, the only reason I mentioned his name at the start was because he touched on the same points in his recent blog, and I then expanded on them.

Lets forget about Malcy and concentrate on the facts.

Firstly I am not necessarily a fan of Malcy, and he does seem to be friendly with certain people, but he does raise a couple of very important points:

1) It is now apparent that Block are receiving only $3.26 Mcf for the gas based on an agreement in May, 2020 whereas as late as the 7th April, 2020 RNS we were told the rate was still $5.24 Mcf - Why the sudden change and why was the market not told until now?
2) Between the 16th Feb, 2021 RNS and the 7th April, 2021 the total production flow has decreased from 940 boed to 573 boed. Assuming the base flow from the other fields has remained constant, and with reference to the production charts in the Stephen James podcast in February this decline is partly due to the WR16aZ shut in (approx 260 boed) but the remainder would appear to be a reduction in flow from WR38 from approx 500 boed to approx 400 boed. It should be noted flow rate is an average figure over the period so the actual figure at the end of March could have been less.
3) Leading on from the above, the recent corporate presentation and a previous RNS indicated that the WR16aZ remediation would take place at the end of 2021. All of a sudden it has been brought forward, once again we have not been told why, we have been left to guess.

I am not trying to stir things up, I am still invested here, however I did take some of my shares off the table on Friday afternoon for the above reasons.

Improved communications since Easter:

RNS - Operations update
New Corporate Presentation
Picture of Coil Tubing Truck on twitter (a picture speaks a thousand words)

In my view the new Corporate Presentation is an EXCELLENT piece of work and is a significant milestone. Just think of all the groundwork that has gone on over the last two years to get to this stage.
Apart from Bobby's purchase, is this the reason for the bit of sparkle in the shares over the last 24 hrs??

Pretend all went well like you did until recently.
Don't mention £1 per share, you might be accused of being a ramper.

Thanks AJW - obviously quite complicated then.

According to my calculations my estimate for a breakdown of current flows is as follows:
WR38 Oil = 239 bopd
WR38 Gas = 154 boepd (0.87 MMcf/d
Oil from other fields = 180 bopd
Total current production = 573 boepd

(AJW - as I explained previously 423 bopd + 1.9MMcf/d equates to approx 760 boed and not 790 boed as reported in the previous RNS hence my figure of 180 bopd for the other fields)

AJW - What would be your best guess regarding timescale for getting 16aZ back into production.

Yep - I agree Thordon, so lets make that a round number of 30,000 bbls of oil in stock.
I have to admit that when I first read the RNS this morning I was a little bit downhearted mainly due to the expectations raised in the February RNS. But prior to that the Technical Manager was in fact forecasting approx 500 boed in the new year and that is exactly what we have now got but this should increase once the WR16az workover is completed.
Anyway GLA.

Thordon - I make it more than that.
They inherited 29,000 bbls from schulm and they produced 29,800 bbls in Q1 = 58,800 bbls.
They sold 30,603 bbls since the acquisition.
So according to me they currently have at least 28,000 bbls not yet sold.

ma1brw
I am not sure if we will be blown with WR16aZ but I hope the rework will as you say be another simple step forward.
That said I am hoping, with all the knowledge that Block now have, that we are blown away by the first new drill in this years campaign!!

According to my calculations my estimate for a breakdown of current flows is as follows:
WR38 Oil = 239 bopd
WR38 Gas = 154 boepd (0.87 MMcf/d
Oil from other fields = 180 bopd
Total current production = 573 boepd

(AJW - as I explained previously 423 bopd + 1.9MMcf/d equates to approx 760 boed and not 790 boed as reported in the previous RNS hence my figure of 180 bopd for the other fields)

Cheers City - saw it a split second before it was taken down - as you say a new low.

Ribobuk
I am actually a modest sort of chap so there is absolutely no way I could possibly agree with your last paragraph, but it is interesting that you chose to reproduce that post - if you were not aware it tells you a little bit more about the relationship between the various parties.
Anyway, regards to your earlier post, absolutely no need to "feel" for me, I was lucky not to be invested in the "old" mobile streams and only came on board here for the first time in 2020.

Goliath - I nominate you for top post today.

Ribobuk - You asked two questions of me earlier today:

Question 1:
How do I know about the inter-relationship between the two business's.
Answer 1:
I have read the RNS

Question 2:
Can I ask Hepseal, are you an independent retail investor in MOS, and is that your purpose for contributing to this BB?Answer 2:
No, just a private investor sharing information and opinions with other investors.
(that question made me laugh)