Member Info for Hepseal

PS - You may very well have some valid points for discussion but I for one appreciate Rob's balanced posts and do not consider he has been ramping at all.

Rob

"Main thing I got out of them was that we will stop.flaring the gas and start selling it by Xmas"

That's what they always said they would do and they are doing it - proves that W16az is still in business even if only modest amounts of oil at the moment.

Just noticed RNS mid morning stating Nial Tomlinson, Executive Director is stepping down, he always seemed a bit in the background, if I remember correctly he was being paid a sizeable salary so this saving should help pay for the recently recruited members of the team.

Rob - Thank you very much indeed for your excellent reporting, very helpful, my impression from what you have said is there were no great surprises from what we already new but then I would say that has to be good and it was great to have it all confirmed by yourself - all the best.

Much better discussion tonight - gone from Mike to Bike!!

Agree BB with regard to SP - Although the SP did not rise that much today I believe the SP this evening is now a lot more solid than say 24 hrs ago so any additional good news should push it up further.

As you say Jaytee41, an excellent RNS today, a very important piece of the jigsaw now in place, so although the share price did not rise as much as I thought it would I for one am now very optimistic for the future.

In view of the AGM tomorrow I wonder if there will be an update RNS tomorrow morning with possible update news on W16az and W38??

For information I have re-posted below the answers Block gave to my questions in August - Block have done exactly what they said they would do - Great news, all credibility restored. GLA

'It is also stated that BAGO will start purchasing gas within 8 weeks of signing contracts – Is this imminent?'

Yes. Bago gave us the estimate for eight weeks and all is on track. All of the critical elements of the contract have been agreed.

'I understand that you are currently flaring gas from 16az under a temporary permit – when does this expire?'

Our gas flaring permit extends to December.

'Will the current oil production from 16az be continuous from hereon or will there have to be a break in production between the end of the temporary permit and the tine when BAGO are in a position to take the gas?'

The extension of our gas permit should ensure there is no need for a break in production.

"Georgian project makes big progress"

Description in Mail on Sunday - AIM biggest risers of the week - 61.96% up.

Block do seem to like Monday,s for an RNS - Four this year have been on a Monday.

Don't know why I am posting this but it looks like Mike has had a Birthday, he is now 32!!

I don't disagree BB, but I was thinking more of a transparent purchase that would be seen as a vote of confidence in the company.

Interesting range of views - Lets split the difference - How about if the BOD are "allowed" to buy shares after the W38 RNS at say 8p and then this will push the price back up to 11p - in the short term.

Interesting post from cpap man @ 12.33 on the other chat board:

I had a long conversation with BLOE [PD] the other day following on from an e-mail sent to BLOE I had suggested in my email that...."at this beaten down share price it would be a sign of confidence if there was a significant share purchase by the BOD and other connected parties". His response was that they had been considering this last week and had been about to pull the trigger only to be warned off by their Nomad and PR people....as "not being advisable at this time"....draw your own conclusions on that one!?!?! On all other fronts whilst obviously no market sensitive information was given he was very open leaving one with an extremely positive feeling reference how undervalued that BLOE are currently!!!!

I am 90% sure I know the identity of this poster - someone with a financial background who is connected with another mineral exploration company.

I wish Mike was in Outer Space!!

Simon T - With regard to your statement:

" If using 2 weeks, a month or 2 months would have given them an higher average to publish then they would have done so! So with some certainty we can say that the longer term average is below 51 Bopd!"

If your above statement is correct that would mean that at the time of the RNS the flow rate of oil had stabilised or was increasing!!

Average 51 bopd was between 17th and 23rd Sept - RNS was on the 25th Sept.

Dead Rat cider I would think.

Not sure if you are all aware of the Block Energy Investor Mailing List - can register on website - This video link was sent out to subscribers on 25 Sept with RNS.

Thank you Terrier / Bungle / DJM1 for recent logical posts all of which I identify with.

In the short term I am sure that Block are pulling out all the stops and drawing on all the knowledge and expertise available with regard to the well 38 campaign and if successful this well together with confirmation of the BAGO contract should put the company back on the right track.

Slightly further down the line I envisage that the valuable results the 3D Seismic survey will be well received.

Hi AJW - Ref my post below it would appear to me that the oil produced from Norio, etc in the first half of this year was actually sold sometime after 30th June so the value of this sale does not show up in the recent accounts.

The CEO who has now stood down was previously the CFO until August 2017 - so that means the last two CFO's have now left the company!