Member Info for Hepseal

V111JAS - If all goes well you should be able to sell it for a tidy sum to PH, to accompany his other number PH 16 AZ.

Thanks Exmex / Sea7 - I had not appreciated they were so close.
As you say Exmex they must be confident in what they have found at W38 and it should make connecting the gas pretty easy. I wonder if WR51 was another factor in Bago signing the Agreement.
Close proximity should also reduce average site set up costs.

The RNS states that WR51 is nearby to WR38.

I appreciate the West Rustavi site plan in the various reports may be slightly indicative, however scaling off the drawing there appears to be only about 500 metres between the two wells.

AJW or anybody else - any observations on this??

12:57 - 17/12 Buy 250000 4.85p £12,125.00
13:45 - 17/12 Buy 250000 5.00p £12,500.00

I am no technical expert but I see the next move to WR51 as being a good move in the short term. Notwithstanding the problems with 16AZ Block obviously already have a lot of positive data from both WR16AZ and WR38 and possibly the 3D and this must have been a factor in progressing a third well in the same vicinity, together with the fact that they will have the Bago infrastructure at hand to connect up the gas and monetise.

Being conservative, I would hope to see a combined oil production of at least 1000 BoOPD + Gas Sales to Bago from the three wells ( W16AZ, W38 and WR51) in say 3 months time. If we are lucky it could be more.

Things I like about RNS:

WR38 - Operations at WR38 continue to run "SMOOTHLY".
WR16 AZ - Being "UPGRADED" with expected return to production in January.
WR51 - Next sidetrack "NEAR" to WR38 - Change of plan but possibly due to encouraging results from WR38 or advance information from 3D seismic survey.
3D seismic - "EXCITED" to have completed survey.

I think it was Mike pretending to be Bill Tucker!!

Makaveli - someone who is sneaky, cunning and lacking a moral code.
BT - someones initials ??

Cautious:

I never mentioned gas flaring with regard to W38. I said that the gas flaring licence for W16az ends in December and that Bago have said that it would take 8 weeks to put in gas infrastructure. 8 weeks from the 30th October would mean that that the earliest date that Bago could take gas from W16az and/or W38 would be end of December / beginning of January, hence in my opinion that could be the time of the next RNS. In the case of W38 it could mark the transition from testing to production - as I say only my thoughts on the matter.

D Burton - I merely passed on information - I was not offering an opinion.

Twitter - David Burton - Total Market Solutions - Today:

"Good to clear out the seller in @BlockEnergyplc and this explains constant selling pressure. Expect a bounce in #BLOE today...

...Intersting times ahead, especially at this level one would have thought." ??

Hi Bobby - the only thing is the gas flaring license for 16az ends at the end of December, Bago have said that it would take 8 weeks to put in gas infrastructure and Block have previously advised by e mail that there would be no break in oil production from 16az so unless the gas flaring license is extended or Bago take longer than anticipated to put in the gas infrastructure I am envisaging Bago could start taking the gas from 16az from the beginning of January, and possibly also from W38 at the same time - only my thoughts on the matter!!

It is possible we could get some W38 flow testing results this week however the longer it goes on I am now thinking it is more likely the results will be announced at the beginning of January to coincide with the end of flaring and commencement of Gas Production / Purchasing from both W16az and W38.

The Bago Gas Sales Agreement was announced in RNS 30th October and the earlier RNS said that Bago will start purchasing gas within 8 weeks of signing contracts, i.e. beginning of January.

Gary1960 / Sea7 - additional tweet threads below but they have not mentioned the gas potential:
(also just eavesdropped your discussions this evening - very informative - thanks)

Robin Mayes
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@Robin25461631
Dec 12
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I think they might do a wee bit better than you think. If you read back on the RNSs you will see reasons given for earlier problems and solutions they have applied. It'll be interesting to see how successful they will be.

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Gary Newman
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@GaryNTrader
Dec 12
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Definitely think that the well completion should be better than the last well, given what they now know. My views on the field overall though are from reading the CPRs on it plus other surrounding fields - if they can outperform that though then all good.

Jrlomax - as you say until they are connected to the gas supply they are technically still under test and therefore I think it is a possibility that test results could be announced at the beginning of January to coincide with commencement of Gas Production .

The Bago Gas Sales Agreement was announced in RNS 30th October and the earlier RNS said that Bago will start purchasing gas within 8 weeks of signing contracts, i.e. beginning of January.

Doc Holiday twitter post this afternoon:

"Hearing the jungle drums are beating at #BLOE"

"Let's hope it's a post election Bonanza"

Hi Bungle - perhaps the Investor Relations team are telling Block to keep quite this time until the news is 100% solid??

+ W30 spud
+ gas sales (Bago should be ready to take gas by January)
+ oil sales (est min 12,000 BoO currently in storage)

May have more than one car, lookout for PH 16 AZ

The one thing for sure is that there is a lot of news to come during the next month and the coming year.

The big question is will it be 1) bad news, 2) good news or 3) very good news??

Personally, based upon the current share price, I believe it will be a minimum of good news in the short term with the possibility of very good news in the longer term but DYOR.

Mal and Gary posts spot on - we just need to be patient.

I was anticipating W38 flow testing results would have been announced by now, however the longer it goes on I am now wondering if results may be announced at the beginning of January to coincide with commencement of Gas Production / Purchasing from both W16az and W38.

The Bago Gas Sales Agreement was announced in RNS 30th October and the earlier RNS said that Bago will start purchasing gas within 8 weeks of signing contracts, i.e. beginning of January.

Just a thought

GLA