Member Info for Hepseal

OAPK20 - Simple explanation:
Main Placing - No prior knowledge
Secondary Placing - Announced in RNS on the 22nd.

Steve, a threshold was crossed on the 26 March and would have been crossed on the 26 March regardless of any shares being sold because the total number of shares in circulation increased on that day and therefore the holding percentage decreased. I suspect there will be a TR1 from Myles McNulty on Monday.
You seem to be making a few wild accusations - I would be careful with that.

No Geowiz, I have not forgotten.
All regular posters here know that 16aZ has been a problem and will therefore not be expecting large flow rates from this well in isolation until after the submersible pump has been installed later in the year.
In the first instance the flow rates that we are all waiting for is the current combined flows from WR16aZ and WR38 which are both linked to the EPF.
In April, 2020 (shut in) the reported combined flows (before the EPF was installed) were 155 bopd and 1 MMcf/d (gas)
In Feb, 2021 the reported combined flows (after the EPF was installed) were 423 bopd and 1.9MMcf/d (gas)
I have no idea what the final figures will be after testing but it certainly looks as though they will be lot better than the April 2020 shut in figures.

AJW - I know everything is currently under test but the production graphs on the Stephen James podcast in mid Feb indicate that 16aZ was producing a lot better flow rates in February 2021 than in December, 2019.

Steve - I am no expert on the finer points of TR1,s but assume the only reason for the TR1 being delayed to the 26th March was simply because the total number of shares in circulation (and therefore percentages) changed on that day.
I am sure City can speak for himself, but he seems pretty confident to me.

Cheers City - looking through the trees I think I can also see quite a bit of wood labelled Quanta Media!!

BB - You really do take the biscuit.

When others on this board were commenting previously on some of the perceived shortcomings of PH that you now choose to mention and asking for PH to go where were you? - You were ignoring what was being said, telling them to shut up and spouting £1,£1,£1,£1,£1.
While I accept ultimately it is the CEO who has to carry the can, I believe that much of the historical blame rests with the previous Technical Director and since that time I believe PH has now built a much stronger technical team to support him and I would agree with you that the company has now been transformed.
Looking forward to confirmation of flow figures in Q2 as previously advised and confirmation of Phase 1 drilling programme.

The acquisition IMO is good business housekeeping by Mobile Streams and clears up for good any concerns about potential conflicts of interests between the two companies. Don't forget Krunch also have a customer base as well which Mobile Streams will intimately benefit from. Glad I topped up yesterday.

The way I see it this now puts Mobile Streams in the driving seat and it is also why we have independent Directors, ie Nigel Burton and Charles Goodfellow. Good news for the future.

Mal - really, a bikini??

Lets not forget:
"Paul Haywood, CEO, has exercised an option to acquire 4,400,000 ordinary shares of 0.25 pence each ("Ordinary Shares") at the exercise price of 2.5 pence per share."

I am on record as saying that the timing of the interview was a mistake and I did feel for anybody who bought in on Friday afternoon but I am sure it will all come good. It is apparent that the placing price was agreed before the interview so there was no intention to deceive on that front.
The CEO is obviously very excited and there appears to be numerous potential opportunities on the horizon and I like the fact that all the eggs are not just in one basket. I have actually topped up myself this morning and an now looking forward to many news updates in the coming weeks and months.

Asat91 - you totally missed the point.
The price of the car on Friday was based upon the ASSUMED mileage on the clock.
The price of the shares on Friday was based upon the ASSUMED number of shares in circulation.

Asat91, look at it this way.
You buy a nice looking car on a Friday afternoon and the salesman lets you believe it has 30,000 miles on the clock.
On Monday morning you discover the car you bought has actually got 130,000 miles on the clock.
The car is worth a lot less than you paid - would you be happy??

Hope so Mal - what we need is a report from Tbilisi97 !!!

AJW - What I thought we were discussing was when Phase 1 programme would be announced and how it was being funded. You stated that the announcement and start date was dependant upon the FD being satisfied with the incoming cash flow and my point was that as Phase 1 was being funded out of the £5M raised I did not see how that was relevant.
I will probably be proved wrong but IMO I would have thought an announcement would be imminent.

As I am sure you know the below extract from the RNS (3rd Dec) is what the £5M placing was for:

Pursuant to the first phase of the development strategy ("First Phase"), which is to be undertaken during the course of the next 12 months, the Group intends to:

· Restart the two existing wells at West Rustavi, WR-38Z and WR-16aZ, to resume oil production and commence gas sales from the newly commissioned early production facility.

· Continue base production from existing wells in Block XIB, Norio and Satskhenisi.

· Drill one new well under the West Rustavi PSA ("WR-BA").

· Re-enter an existing well under the Block XIB PSA ("JKT-1") and drill a new horizontal sidetrack.

· target an initial production rate of 550 bopd at each of WR-BA and JKT-1.

· Workover of existing well WR-16aZ at West Rustavi, including the installation of an electrical submersible pump, to target increased production of oil and gas.

The two wells proposed to be drilled in the First Phase are intended to further increase production and cashflow from West Rustavi and Block XIB in order to target in excess of US$40 million net present value of future cash flows.

AJW - I don't really know what you are on about regarding cash flow affecting the drilling programme, the £5M placing was specifically to fund the Phase 1 drilling programme which was to be completed within the 12 months from 3rd December, 2020.

Myles McNulty not happy on twitter:
"Not impressed with the #MOS placing - particularly given that I'm a major shareholder; and, due to a real ****-up by someone, I wasn't made inside until yesterday - long after the book had closed."

The placing at 0.25p is a 30% discount on the 0.315p share price at close on Thursday.
Why was it then necessary for the CEO to do an interview on Friday afternoon which caused the share price to rise to approx 0.45p with PI,s unaware of the pending placing, and some possibly buying in for FOMO.
Would it not have been fairer to have done the interview today AFTER the placing.