Member Info for Hepseal

And this is what PH said in the RNS dated 26 July:

"We're looking forward to the results from our next Project I development well, WR-34Z, which

aims to build on the back-to-back drilling success that has already materially improved the

Company's cash flow this year. More broadly, we have set out an aggressive drilling plan for the

remainder of this year and next, which, on success, will allow us to further increase our rate of

drilling across Project I, whilst also prioritising the appraisal of the high-impact gas and oil targets

across Project III and II respectively."

Note: ""we have set out an aggressive drilling plan for the remainder of this year and next,""

With regard to the reasons for stopping Project 1 drilling:

Prior to the recent slim hole drill WR-34Z was the last Project 1 well that was drilled and came on line during September, 2023.

With reference to the Q1, Q2, Q3 Quarterly Operation updates and the subsequent 2023 Year End results the Quarterly Production rates were as follows.

Q1 average = 400 boepd

Q2 average = 664 boepd

Q3 Average = 630 boepd

Q4 average = 481 boepd (interpolated from year end results published subsequently in May)

So despite a new well coming on line in September the Quarterly results for Q4 were significantly less than for Q2 and Q3.

I think you will find that is the reason that Project 1 drilling stopped, the drilling costs and potential risk of failure outweighed the possible reward.

It was hoped that a new "slimline" drilling campaign would evolve - but no news yet ??

There has been a Quantum Jump in the number of Shares!!

Thanks TI.

Just possibly COIN were planning to do an all encompassing RNS this Friday but plans changed due to Greengage delay??

35,000 X 1.68p = £588

£588 less purchase price = ????????????????????

Yep, recognised the name straight away, according to Max Richards of OPC he also worked on the CCS project for Block.

Simon Barry was also a Director of PH Company Antler Global until EOG came on the scene. (Equatorial Guinea project).

Presumably this is the signing of the "Binding Framework Agreement for Project III Farm Out"

Also Otomato coming up in the background.

With respect I think you are getting your wires crossed - yes. it was good that PH was having dialogue with CNPC but the drilling contract 2,5 years ago was on a licence area held by a Chinese company in Western Georgia, not a Block Energy licence. I know this question has been asked before but does anybody know the outcome of that drilling programe??

Of general interest - The following is from GOGL website:

"Farmout Agreement Signed with Aspect Energy Group for North Samgori XIQ License Area – January 2026

Georgia Oil and Gas Limited (GOGL), together with GOGC and GOG SLADS, has signed a Farmout Agreement Aspect Georgia covering the North Samgori (XIQ) license area."

Block Energy hold a 10% stake in licence X1Q but do not appear to be mentioned - on digging a little deeper it appears that GOG SLADS (registered in the British Virgin Islands) are actually part of Block Energy.

""This is a news driven share and will gradually float down when no news is due........no decent news is due for a while now.""

This of course has been the problem here for some considerable time and probably will be for the foreseeable future, - you get an announcement and then have to wait another six months for the next.

I am assuming the next RNS of any significance will be the next leg up regarding the CCS.

There is also the Annual Report due sometime before the end of June, but usually arrives in May.

I am assuming that Indorama will fund the majority of Phase One to serve the Rustavi Azot factory complex.

""The facility would initially store emissions of around 300 kilotonnes per annum generated by joint venture partner Indorama.""

How exactly the arrangement will pan out for future expansion / customers has still to be clarified.

Bitcoin (Forza)

Yellow

Predictive Labs

Greengage

Otomato

Healthy cash balance

etc!!

Looking good for Coinsillium on several fronts.

As of this morning StackBTC hold 68 BTC with a Treasury Value of £3.8M with a strategy in place to buy more.

StackBTC made a £2m purchase of bitcoin - Nigel pushed the button.

The loss was for the six month period ending 31st January during which time they were tidying up the "old" business.

The "new" business has entered into a strategic partnership with leading industry player, Blockchain.com who are also an investor in the Company.

Ref a Stack twitter post on Friday, possible further news today although may be of a general nature - "Watch this space"

As of this morning StackBTC now hold 68 BTC with a Treasury Value of £3.6M

As things stand at the moment it appears that Indorama are already Block's "Joint Venture Partner" for Phase One.

""The facility would initially store emissions of around 300 kilotonnes per annum generated by joint venture partner Indorama.""

How exactly the arrangement will pan out for "future customers" has still to be clarified.

Best of luck Mal - Something appears to be cracking off

Probable Phase 1 as indicated in last years TMS summary:

""The facility would initially store emissions of around 300 kilotonnes per annum generated by joint venture partner Indorama.""