Member Info for Hepseal

Orange196 - I would say Geowiz has a point - I would guess there is actually less than $1M remaining at the moment.
The balance sheet showed $2.25M on the 30th June and they did sell $568,000 of Oil in August.
However the cash burn from April to June was at the rate of $400,000 per month even though they had adopted cash saving measures. The revenue from the oil sales was probably used in part to pay deferred salaries in Georgia.
They will also have had to pay for the installation of the pipeline from WR38 to the EPF and various Technical and Legal consultant fees.
Now that the Schlumberger deal has gone through they will have increased outgoings each month although in fairness they will have the extra revenue from 200 BOPD to help with this.
I strongly suspect that the recently gifted 29, 000 BoO from Schlumberger was probably a necessity to keep the lights on until we have commencement of gas sales and resumption of oil production from WR.
When first gas sales are announced I would assume an increase in the share price followed possibly shortly afterwards by a placing to fund next years development plan which as PH has indicated will probably include utilising the four unused connections to the EPF.
DYOR

25-Nov-20 11:37:12 0.2575 23,500,000 Buy* 0.23 0.26 60.51k O
25-Nov-20 11:37:28 0.26 23,500,000 Buy* 0.23 0.26 61.10k O

I think this is them: G.P. (Jersey) Limited

MG - If the finances really worry you probably best to sell up then you can get a good nights sleep - as for myself I am not selling and I sleep vey well.

AJW - The Bago sales pipeline appears to be a bit longer than what you thought, extract from the Technical Directors Statement in the Annual Report

""the 10km gas sales pipeline to be installed by Bago""

I am sure that market sensitive information will be issued through the normal RNS channels.
Only a thought but maybe the NDA element relates to any partnership clients information disclosed during the presentation - as I say, only a thought.

Wow - Just come in from walking the dog - on a Friday as well !!

Mal / MP - The one thing that jumped out at me, connected with the 3D, was the confirmation that "Our plan aims to utilise the spare well and gas production capacity at the recently commissioned Early Production Facility (“EPF”)."
I know there is potentially a much bigger long term picture here but I think in the short term they will be focusing on utilising the EPF to its full potential to capitalise on their investment as much a possible but they will probably need to inject some more cash to enable any additional wells to be connected up.

Just to recap:
Mobile Streams Plc are planning to hold an online presentation for investors towards the end of November.
This will follow the publication the Company's audited accounts for the year ended 30 June 2020. Expected to be published in November 2020.

If the above dates are adhered to we should get an RNS next week and I would assume they would use this opportunity to also update the market on the progress of the Streams launch and plans for the current financial year. Have to wait and see!!

Thordon:
Extract from Technical Directors statement in Annual Report:
"A workover at WR-16aZ is planned for H2 2020, when the gas sales system is in place."

Hillybilly - well, well, well, well - if you get my drift!!

AJW - not only did the RNS in January state "Bago has also started on the installation of the pipeline infrastructure" PH also states in a Proactive video interview in February that they are "on site digging trenches and laying pipes" so it would appear that Bago did carry out some works before lockdown.

Sea/AJW

Not withstanding the permit situation, Bago did start the work last January, extract from Jan 27th RNS:

"Bago has also started on the installation of the pipeline infrastructure, which it is funding, necessary to connect the EPF to Georgia's gas distribution network."

Yep - I get it - "Once the facilities have been installed", so it could be 1.15 MMCF/d from the two wells.
(but for whatever reason Block did state in April "At current flow rates, this will provide net revenue from gas sales of US$120,000 per month.")

Nico - they are not my words or figures, I merely pasted extracts from the Block Energy RNS dated 7th April - The 1MMCF/d gas is the combined flow from WR38 and WR16aZ.

Initial total oil production upon resumption + Schulm deal could be 375 bopd, i.e.
Schulumberger 200 bopd
West Rustavi 155 bopd
Norio / Satskhenisi 20 bopd

Prior to shut-in, West Rustavi field production remained stable at a choked-back rate of 325 boepd
(155 bopd and 1MMCF/d gas).
At current flow rates, this will provide net revenue from gas sales of US$120,000 per month.

Yes I know, and the sentence I have now reproduced FOUR times ("If you’d like to learn more about us, the great progress we’re making and our exciting plans for the future") is written in PLAIN ENGLISH on the Mobile Streams twitter page.

MG - Which part of the Mobile Streams twitter post below did you not understand, it CLEARLY stated: "If you’d like to learn more about us, the great progress we’re making and our exciting plans for the future".
Also, with regard to the financial audit we have already been given the trading results to the 30th June in the RNS dated 6th August.

Twitter:
If you’d like to learn more about us, the great progress we’re making and our exciting plans for the future join us for an investor presentation. Targeted for the end of this month. Apply here: https://mobilestreams.com/investors-m

Note:
"great progress we’re making"
"exciting plans for the future"

Twitter:
If you’d like to learn more about us, the great progress we’re making and our exciting plans for the future join us for an investor presentation. Targeted for the end of this month. Apply here: https://mobilestreams.com/investors-m

Note:
"Great progress we're making"
"Exciting plans for the future"