Member Info for Hepseal

Sea7 - Agree absolutely with everything you say in your post 110% - Yes there may be a small hic up in the time scale for the final connection but do not think we will be waiting much longer now for confirmation of gas sales.

Extract from RNS 11th January:

"Delivery of first gas is now forecast to occur by late January or early February."

I suspect that as they issued a holding RNS on the 8th Feb there could be a small delay for some reason but personally I can't see it taking very much longer.

Only my opinion.

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Hi MP - Yes they did say 245 bopd but they also said 245 boepd elsewhere - on at least a couple of occasions since they have said 200 bopd, another extract from the Annual Repot:

The Company will acquire producing Block XIB and exploration Block IX, which together bring 200 bopd of
production and 64 million boe of proven and probable oil and gas reserves to Block’s portfolio as well as many synergies
between the two businesses.

I have no idea if I am right or wrong but just posting to explain where I got my figures from, i.e. 200 + 20 + 155 = 375

All the best.

AJW - Extract from the last Annual Report.

" It continues to produce approximately 20bopd from the Norio and Satskhenisi fields."

As far as I understand Block should also be currently producing 200 bopd from the Sch blocks and 20 bopd from Norio etc so total oil should currently be around 375 bopd. (200+20+155)

From latest RNS - "Production from the Wells remains stable and consistent with the production rates achieved before they were shut-in in April 2020."

Prior to shut-in, West Rustavi field production remained stable at a choked-back rate of 325 boepd (155 bopd and 1MMCF/d gas).

Possibly private clients who are friends / associates of some of the known shareholders??

Yep, they could Bloe away.

It is not 325 bopd.
It is 155 bopd + 1 MMCF/d of gas. (325 boepd)
The gas is being sold @ $5.24 per 1000 cub ft = $5,240 per day = $157,200 per month (gross)
Hence Blocks figure of $120,000 per month (net)

Anotherlambo - I have not forgotten the oil, (155 BoOPD from West Rustavi), I was merely addressing the discussion on Gas Sales.

What on earth are you all on about????????????????????????

Extract from April 7th RNS:

"In the contract between the Company and Bago, the price for gas sales is US$5.24/MCF. At current flow rates, this will provide net revenue from gas sales of US$120,000 per month."

At current flow rates, this will provide net revenue from gas sales of US$120,000 per month.

Why not???
I have broken it down into Gas and Oil revenue based upon previous production rates from WR38 and WR16aZ and come up with a similar figure to Bobby.
Also, there should be currently a minimum of 47,000 bbls of oil in storage. (29,000 bbls inherited from Schlum + production since Schulm completion date @ 200 bopd + production since August from Norio @ Satsk @ 20 bopd).

As you say Spudsoil the size of the connection is not the be all and end all, the important point is that they will have the connection and will then be in a position to capitalise on this further and connect up to 4 additional wells to the EPF in due course.

Mobile Streams Tweet:

"Delighted to announce our new publishing feature has launched!"

Extract from 22nd January RNS:

"This month has already seen the launch of new AI insight functionality and a significant update to our Streams Data SaaS website. In addition to this we will also be introducing a new major new content creation and publishing feature at the end of this month, enabling users both to create and then to publish directly from Streams."

The "Publish" section is now on the web site as a "New Feature".

Having read the reasoned argument on this one from posters below I am not sure why you are still asking the same question - I have to say that AJW's sentence sums it up for me:

"The significant expense in producing it would be better spent on producing more Gas to sell to BAGO."

Yep - that was why someone bought 1M on Wednesday (14.07)