Member Info for Hepseal

Totally agree the real news is elsewhere, so why do posters like yourself fill up this board with endless drivel arguing with 1234. Stop twisting things, I have posted my position on 1234 before:

"Reporting 1234 serves no purpose, you loose valuable post's by others."

"Conversing with 1235 serves no purpose, the board just's get filled with futile tit for tat argument."

Anyway, in answer to your question, my recollection of what 1234 said you said is in the post by MgBRG96, 8.30 yesterday morning, but if you had read the post properly you would not have needed to ask that question.

Well Chesh, you have confirmed you made the post on the lines of "possibly encouraging Block to prioritise Proj III over Proj I." but my recollection was that your original post was a bit more direct than that and Sarah1234 seized upon it.

Anything is possible Hms687 but the below sentence from the RNS suggests to me that the new well is currently producing a flow up until such time as it is disconnected prior to the side track operation.

"Following completion of the sand jetting operation, as announced by the Company on 12

February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not

a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered."

HMS687, the operating cash flow figures based upon $80 per barrel and after deductions are shown on the presentation slide as follows:

150 bopd = $40 per month

300 bopd = $295k per month

600 bopd = $805k per month

900 bopd = $1,310,000 per month

Hms687 - From RNS dated 28 Feb, 2024:

"Following completion of the sand jetting operation, as announced by the Company on 12

February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not

a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered."

Prior to the sand jetting operation were producing approx 40 bopd "New oil" + 30 bopd "Old oil" = 70 bopd total.

With reference to the RNS announcement we could be producing a similar amount, plus or minus, at the current time.

Grower, I am not attacking Chesh or defending Sarah1234, it was MgBRG96 who made a big point of stating why he had reported Sarah1234 and I pointed out that my recollections were somewhat different to his assumptions and you have to some extent confirmed that point.

Anyway, as you correctly say, there are more important things than that.

Hms687 - "Have they as yet produced in any new oil ?"

Yes, but not very much, 40bopd from the new well at the last count

Steve58 - "Why don't they just try to increase the current production."

That's what they tried to do with the sandblasting but unfortunately not successful.

Hopefully the new side track in April will have the desired results.

No, because the post has been taken down but I clearly remember it and as I said Chesh should be able to clear the matter up if he wishes to.

MgBRG96

"lastly for the record sarah alleged that chesh has stated that 'it was the government that have stopped block drilling on pi'"

"as a result i reported her endlessly as it was untrue and baseless"

The only problem is that Chesh did actually say something on those lines - come on Chesh OWN UP!!

So Madman Rob was totally correct, his post just prior to the one below has now disappeared along with the 1234 posts.

Reporting 1234 serves no purpose, you loose valuable post's by others.

Conversing with 1235 serves no purpose, the board just's get filled with futile tit for tat argument.

OK Chesh, that will be interesting.

My initial reaction was it was a bit predictable and despite all the hype here there was only about three "sensible" comments on this chat board afterwards but all now taken down.

Having now listened to it twice and taken in a few comments here by others I think I can see clearly where the company is at the moment but they could be at a bit of a crossroads depending on how negotiations go with others and may have to veer off right or left.

If they are negotiating with more than one party then these things rarely get sorted quickly so I can't see any more significant news for some time - Just my opinion.

Its there Chesh - I have just listened to it!!

Numbers were on the slide as follows - The chances of achieving these figures has to be on a sliding scale so to illustrate the point I have added some indicative figures in brackets - PURE SPECULATION I MIGHT ADD.

150 bopd = $40k per month - (9 out of 10 chance)

300 bopd = $295k per month - (8 out of 10 chance)

600 bopd = $805k per month - (7 out of 10 chance)

900 bopd = $1,310,000 per month - (6 out of 10 chance)

Anyone agree or disagree??

I see this mornings debate has got off to a good start!!

Anyway I am registered for tonight in my capacity of an existing small investor and a prospective larger investor but will probably miss the start and will have to play catch up.

Can they pull it off? - That of course is the big big question but the risks of failure will be greatly reduced this time round so my head tells me there is a very good chance of success this time - GLA

CORRECTION - Not sure what I did but it is a straight line graph.

Good morning Ra11adw2, not sure where you got your numbers from but the operating cash flow figures after deductions are actually shown on the latest slide as follows:

150 bopd = $40 per month

300 bopd = $295k per month

600 bopd = $805k per month

900 bopd = $1,310,000 per month

Note; above is not a straight line graph, so as they say, the more the merrier.

Mr Bassett (Roley)

"I can see why a MOS wish to use them given MOS has few full time staff of its own"

Ha, Ha, Ha, Ha - According to the last accounts Ignite only employed ONE person!!!!!!!!!!!!!!!!!!!!!!

Fair comment Bobbby - Yes I did say I was not going to post here again until final results, primarily because I saw various red flags at the time, others did not agree so I thought I would let it ride out and see what happens as I have concerns that there will be a cash flow problem in the near future. You say I can't stay away, I wonder why - yep I wonder myself sometime, but having built up a certain amount of knowledge over the last five years if I see a post that is IMO blatantly wrong, either ramping or de-ramping then I want to have my say - perhaps I should keep quiet.

I invest and/or trade in many other shares but don't necessarily comment on them because I don't feel I have anything to contribute to those particular conversations. Yes, I do not have a very large holding in Block at the moment and see no urgency to jump back in big time at the moment until I am clear on the cash situation. As you have said many times the potential could be enormous, but IMO I can't see any significant news flow for the farm out kicking off for some considerable time.

That said it will be very interesting to see what PH has to say at the upcoming Investor meeting on Monday and I am registered to attend.

You are right to question me but I can assure you I have no Agenda other than trying to get at the facts. GL

MgBRG96 post @ 6.34:

"Block is a 6 year old company, it has its own rigs and its own internal drilling company, just toggle you a little teaser about FRR I do believe they're subcontracted the Block drilling team out onto B12 as we speak so there's hope something is going on there."

MgBRG96 post @ 8.02:

"I'm sure of nothing when it comes to the drilling part of Block it's just a hunch."

I do agree with you on one thing MgBRG96, "it's just not right that people come on spouting rubbish in an uninformed manner."