Member Info for Hepseal

Thanks Whistler51

I was aware of ST16 but I thought I had read somewhere that there was an additional well (not yet approved) to follow on from the five you mention - perhaps I have got this wrong?

All good - the signs are that Jackson - 4 will follow in the footsteps of Jackson - 31

TD should be reached in about a weeks time

Then it will be 2 down and 4 to go (that is a lot of RNS's still to come)

Jackson-31 Spud RNS - 19th Feb

Jackson- 31 TD RNS - 3rd March

Time between above RNS,s = 12 days

Jackson-4 Spud RNS - 5th March

5th March + 12 days = 17th March!!

The Georgian government has shut down a state-owned English-language news outlet, Agenda.ge, established in 2013.

If you click in and translate there is some more text

The Company has received an offer letter from the Mining Commission ("MC") in Tanzania for the grant of a Mining Licence ("ML") for the southern Rukwa Helium Project

The offer of the ML follows approval by the Ministry of Minerals ("MoM") who have given the MC permission to grant a larger than standard ML that will enable the southern Rukwa Helium Project to be developed to its full potential

Offer letter and terms are currently being reviewed by the Company

I think the relevant bit in her CV for this talk is:- "Business Development and Farmins"

C & P 's definitely not allowed Chesh - otherwise I would have done it!

Morning Chesh & SP - if you are looking in?

"The Bid ticks up on V.little Vol........!" - that seems to have happened this morning as well,

" (waiting patiently for Proj III and/or CCS update.........! " - and resumption of Project 1 drilling in the background.

All the best.

With regard to trading at a profit from the Project 1 production it is worth noting that the infrastructure is in and paid for, future slim hole drilling using own rig will be at reduced cost and therefore even with modest success production levels and hence profitability should hopefully increase in the coming year.

Then of course there is CCS and Project 3.

Agreed - 4 projects + Carbon capture

Would suggest anyone not familiar with Block gains access to and reads last week's Tennyson Brokers Report.

IMO this is the most important tweet from 4 days ago:

""Busy period for #BLOE as highlighted by Tennyson, with lots of near-term catalysts for value…""

Not sure why you think that??

Mal - I think the Baker Hughes hook up became detached - but that is now history.

As Spud says, Project 1 is still ticking over, but more importantly they intend to drill future wells using their own rig and “slim hole” technology which significantly reduces costs, wells can be drilled for as little as $0.5 - $0.75m compared with circa $1.5m for a traditional well. The infrastructure for Project 1 is already in so lets capitalize on the investment.

Thanks for the heads up Spud - There appears to be some new information in the report so I am thinking could there be an RNS in the morning??

Only had a very brief scan through so far buy key points seem to be:

Project 1 seems to be back on the radar but using own rig and slim hole technology for future wells with increase in production and profitability forecast over next couple of years.

Hope to conclude Project 3 farm out in H1 - a lot of facts and figures provided.

Hope to have CCS proof of concept during Q1/Q2 and then initial injection rate of 15-20 tons per day during H1 with significant scale up in future.

As I say, only had a very quick read so probably missed a lot but I guess main point is:

Buy Recommendation - Target Price 4.9p

Pauly25 taken down - I wonder why? (ps It was not me)

A couple of observations on the below post:

I would assume in Blocks case the tonnage for the "first scale up phase" will comprise the output from the Rustavi Azot factory, I don't think we have been given actual figures to date for the factory but I would imagine they would be fairly significant.

With regard to the time taken for Block to mineralise the co2, this from an earlier RNS:

"These and other supportive geological features, including an active aquifer and ideal pressure and temperature conditions, indicate the possibility for a very rapid rate of carbonation: initial calculations show 95% mineralisation of CO2 within 250 days, compared to 1,000 years in sedimentary systems."

ok - may be a bit more than 100 days but a lot less than 1000 years.

The next news release could relate to the CCS project or just possibly the Project 3 farm out - only time will tell.

Shedulike - A couple of snippets from the RNS 26 Nov 2024:

"Three commercialisation options have already been identified, encompassing both the mandatory and voluntary carbon markets. Part of the study will focus on further definition of commercialisation."

"The project is expected to benefit from low costs facilitated by the re-use of existing field infrastructure and proximity to sources of industrial emissions."

Correction - 8m cub mtrs !!!!!

Reference the below article the following maybe of minor interest:

Total oil production in Georgia in 2023 averaged 780 bopd

Block's oil production in 2023 averaged 414 bopd

Total gas production in Georgia in 2023 = 16.4m cub mtrs

Block's gas production in 2023 = approx 8 cub mtrs