Member Info for Hepseal

Jasper13 - Thank you very much for contacting the company and sharing the dialogue here, very helpful.

(post today @ 5.55am for those that may have missed it)

Ps - What I meant was there should be a rod pump on site, but not currently installed.

Spinal_Tap - "Is there a rod pump?"

Yes - there was one previously installed on the original well

Fair comment Carrot13, but they do talk about establishing a flow, whatever that might be.

On your second point, someone did buy 253,000,000 this afternoon!

What they have said is going to happen is the following:

"Once the rig has left the drilling site, remedial actions will be undertaken on the ESP and the well will be reconnected to the Schwarzbach facility to allow well clean-up and a long-term flow rate to be established."

Having read knowledgeable post's here from Fever / Grey Panther, etc the general consensus seems to be they should reinstall the rod pump to at least get some flow and revenue but is that what they mean when they say "remedial actions will be taken on the ESP"??

Plus they already had a rod pump on site that could cope with up to 250 bopd so if they have installed an ESP at this stage that would seem to be extremely good news.

Anyway, lets not get ahead of ourselves and wait and see.

GLA

So next week at the latest, but could be the week after!!

(Only joking Ra11adw2 - just trying to lighten things up)

Cheers Fever for your earlier post @ 10.28 - You do seem to have your ear to the ground re timescales.

(ps - Fek off - is that an industry technical term?)

Key Performance Indicators - Project 1 went downhill in second half of year.

199 to start, 799 with esp

Good point Hemo

Another thing on the slide, although they give a range of indicative monthly cash flows for 150/300/600/900 bopd they have specifically highlighted that 600 bopd would give an operating cash flow of $800 per month.

Could this be their best guess at what they hope to achieve??

Honest-money - You beat me to it.

I was also going to add that although 1 day for actual drilling is mentioned on the video the slide on the video states the whole sidetrack operation will take 14 days, i.e.

"Approx 14 day operation to plug back, drill sidetrack, deploy liner and the pump."

I am assuming that all the above has now happened so as soon as a stabilised and sustained flowrate has been achieved a flow rate will be announced.

Fever - I note your comment: "chat is that MND are demobbing"

According to my reckoning that means they are slightly behind original target dates but does fit in with your earlier comments that there were a few minor issues to deal with at the start.

Thanks for posting.

DaProphet says "We should of had an update on the sidetrack. 14 days was last Thursday.. That tells me something isn't right."

Nope - the opposite actually, if there was a problem they would have told us by know, we are just waiting for a stabilized flow results.

Grey Panther - This is what Peter Appel had to say 24th April just PRIOR to the current sidetrack:

“The tested production rates from the existing well do not do justice to the proven petroleum reserves in the Pechelbronn layers. The drilling fluid, which consists primarily of starch, has too tightly sealed the rock pores through which the oil flows into the production line in the immediate vicinity of the borehole. Therefore, the expected quantities of oil are not coming through,” explains Rhein Petroleum managing director Peter Appel. That's why a new entrance is now being laid at a depth of around 1,600 meters. He makes it clear: “The natural porosity, i.e. the permeability of the rock, is good. We are confident that the new short branch line at the end of the well will result in a flow rate that reflects the quality of the reservoir we encountered last August,” emphasizes Appel.

Looking forward to good news very shortly.

That is exactly how I see it and feeling confident. GLA

Olwi - Agreed, if it was "terrible news" I am pretty sure we would have had it by now.

So the question now is will it be "good news" or "very good news".

Thanks Rob, and I agree with more or less everything you say.

Despite an increase in Production and Sales figures for 2023 due to a short lived surge in Q2/Q3 it is quite clear to me that the 2024 figures will now shrink back to the 2022 levels.

Also noticed that the oil production from JSR-01 on Project 2 declined to below commercial levels.

It will be interesting to see how they deal with the loan situation.

Moving forward, we await news on Project 3 farm out and further news on CCS but it will all take time.

Don't get me wrong folks, I have been 99% positive here, but if there was any bad news Friday before a Bank Holiday would be a good day to try and bury it. There has been no news so I am now 99.9% positive of a good result.

Q1 average = 400 boepd

Q2 average = 664 boepd

Q3 Average = 630 boepd

Q4 average = 481 boepd (interpolated)

Average for YE 2023, from report = 543 boepd