Member Info for Hepseal

Just checking recent announcements and note that John Barker became Interim Chairman today.

£6.5m M Cap as we speak!

Follow on from post 12.28. - From RNS 7th Aug:

"Our near-term ability to supply CNG to the Moroccan industry is more advanced than other possible options. The Company is debt-free which allows it to have greater flexibility when considering different options, including M&A transactions and a partial divestment, for the modest levels of development finance required for "First Gas". This is why Afriquia Gaz remains heavily engaged with the Company and supportive of our efforts to get gas to market at the very earliest opportunity."

So what you are saying is nobody has sold in the last two hours.

Perhaps you are correct, perhaps the testing is going well!

Promoti !!

From RNS 31 July, 2024:

Project III Update:

- The farm-out process, led by LAB Energy, continues to attract interest with multiple parties entering the data room.

- As discussions with potential partners continue, the Company looks forward to updating shareholders in due course.

I do not think PH would have done an interview this week if an announcement was imminent, the above statement suggests to me that there is still some way to go with negotiations before Block will be in a position to make an announcement.

Boffer:

"And yet you believe everything PH says" - not exactly, but I agree with Chesh that it is PH who has to see this through at the moment.

"I am the insane one ?" - I did not say that, I listen to what everybody says, including Bedex.

"Come Xmas you will change your tune." - If by Xmas we have had no news on Project 3 you will have a point.

I agree with you totally Chesh, Ph has done a good job in getting the company where it is and is IMO the only person who can realistically see this through. However, one should be mindful of the fact that PH has other significant iron's in the fire elsewhere so does not have all his eggs in one basket.

Anyway, it was a good interview, Project 3 is the big prize but some way off.

I have a hunch that in twelve months time the bread and butter cash may be coming from the CCS project rather than Project 1.

Perhaps I should have said "get this project IN the ground"!!

Yep, another good find Bobby, IMO Rustavi Azot is an ideal partner to get this project off the ground.

Last sentence:

""This is why Afriquia Gaz remains heavily engaged with the Company and supportive of our efforts to get gas to market at the very earliest opportunity.""

Thanks donalb, good video - from fellow amateur!

I agree with the general consensus that it is a solid RNS.

Project 1 - Bearing in mind that the AVERAGE production in Q4, 2023 had dropped to 481 boepd the figure of 534 boepd for July was better than I was expecting plus plans for future wells in place.

Project 2 - Looks like Block could generate some revenue here in the near future.

Project 3 - No news yet but that does not come as a surprise.

Project 4 - As above

CCS - confirmation that this project seems to be advancing fairly quickly and great that we are in bed with Rustavi Azot.

My only downer is I note that the new warrants are priced at 0.85p whereas the previous warrants were priced at 1.7p but I guess you have to do what you have to do.

Perhaps Mobile Streams should update the Management Team section on their website. i.e. delete Charles Goodfellow and add John Barker.

Registered office address for Mobile Streams:

125 Wood Street, London, United Kingdom, EC2V 7AW

IGNITEAMT Ltd or IGNITEAMT SERVICES Ltd.

Lostmoney - What an absolute load of old rubbish you spout.

There is nothing on Companies House that links Charles Goodfellow with IGNITEAMT Ltd or IGNITE SERVICES Ltd.

However, there is quite a lot that links Bernie Bassett with John Barker, TR1 holder and NED.

DYOR

"Our drilling rig is worth half the market cap."

I don't think so.

As far as I understand for the new wells / sidetracks Block have always hired in the main drilling rig from Georgia Oil and Gas Ltd.

They did inherit an upgraded A-80 work over rig from Schulmberger but I would not imagine the value of that rig would anywhere near cover the cost of the loan.

For the record, I was tempted to add some shares this week on the back of the positive noises around the CCS project but held back due to the pending news on the loan situation.

Rocklawn - "Can we expect a RNS next week ???"

Yes, I would think so - The Loan Facility for 18 months that commenced on 2 February 2023 expires next week so I assume they will need to issue an RNS to say either that the loan has been repaid as per the original agreement or extended.

BottleRocket - It is probably against the rules to reveal someones identity on this chat board however if BernieBassett chooses he could confirm or deny if he is connected with Mobile Streams.

Over to you BernieBassett.