Member Info for Hepseal

China here we come! 4 days to go...........

Thanks Thordon, I did not know that.

Vidacos Nominees - reference the recent published figures below there holding actually increased by approx 600,000 in the last couple of weeks - excuse my ignorance but are they just doing a bit of extra trading on the side??

Investor Services - your comments are interesting - the Scottish contingent have to up to something and I don't think it is any coincidence that Malcy keeps putting in a good word for them - check out some of the comments on the Scirrocco board!!

Not withstanding the above shenanigans, hopefully the clearing of the placing shares will coincide with an announcement of the drilling programme and some solid base production figures and the share price will tick up accordingly.

Thordon, correction, they have updated numbers again:

Vidacos Nominees Limited 21,764,053 3.53%
Interactive Investor Services Nominees Limited 20,768,411 3.37%

Hi Thordon, just a question please, have the following significant shareholdings been taken into account in your calculations:

Vidacos Nominees Limited 21,116,204 3.42%
Interactive Investor Services Nominees Limited 20,368,895 3.30%

Mobile Streams tweet today:-
"Going global. In 5...."
It should now start to get interesting!

Agree Goliath, cant be far away.

The smell of manure is now passing and the sweet smell of success is just around the corner!!

Spud - I am chilled.

RNS in February:

Block Energy plc, the development and production company focused on Georgia, announces that a director, William McAvock, and an employee have exercised nil-cost options ("Options") to acquire 653,517 and 295,231 ordinary shares of 0.25 pence each respectively.

The Options had been acquired as a result of the Company's salary and fees sacrifice scheme that was announced on 7 April 2020, whereby directors and employees of the Company agreed to receive 40 per cent of their salaries/fees in nil-cost options in lieu of cash.

Block Energy plc's Chief Financial Officer, William McAvock, said:

"After receiving 40 per cent of my salary in options for the past eleven months, I am pleased to exercise some of the options, pay the tax on the value of the shares acquired and become a shareholder of the Company."

Geowiz - 290 would be ok with me for the time being, if you add the Schulm & Norio flows that should make a total current production of around 500 bopd (@$68) + the gas. - and the new wells later in the year should be a lot better.

Yep - Agree

According to my calcs 32M = approx 2.7% of total shares.

Hi Mal, AGREE, the next wells should be a total different ball game, more data, more knowledge, more expertise, less risk!!

The possibility of flow rates dropping off has been taken into account, another extract from the Tennyson report:

"Our production profiles are based on underlying ‘base production’ of 450 boepd (average FY21), including the c.150-200 boepd recently acquired and a conservative estimate of c.250-300 boepd from the two existing West Rustavi wells (which are currently producing 740 boepd)."

So, currently we have an overall production rate of over 900 boepd and the broker is working on a conservative 450 boepd -
In my opinion I would say that is more than fair.

We can all make up figures but having followed all the statements here (good and bad) for some 18 months now I believe in 2/3 months time we should end up with NO LESS than 600 boepd including 400 bopd from the current production wells - only my opinion of course

No need for a fund raise - Extract from Tennyson report:

Based on our assumed oil price forecast of US$60/bbl in 2021-22, we estimate operating cash flow of around US$11m, rising above US$20m in 2022 driven by increased volumes. We have assumed that Block spends just over US$8m this year on its three new wells, which leaves around US$3m of free cash flow for the year. With Block starting the year with c.US$8m of net cash, this leaves plenty in the kitty for further development drilling through 2022.

Scooby / Fuse - Yes, on the lines of what I had been thinking, totally agree - can't help thinking that there must now be an RNS announcement just around the corner.

Latest list of Significant Shareholders now includes the following, don't remember seeing them before, presumably some of the "missing" shares??

Vidacos Nominees Limited 21,116,204 3.42%
Interactive Investor Services Nominees Limited 20,368,895 3.30%

Thanks Quercusrobor for your trouble - very good and useful report.
For anybody not already invested tells them more or less everything they need to know.
I would have thought Block should put it on their website ASAP and issue an RNS to that effect.

Confidence boost on two fronts.

And of course we have been adding to the oil inventory from BK10 since the end of November. - If we have not sold any oil since than we would be approaching 50,000 BoO in inventory but I guess we probably have sold some.