Member Info for Hepseal

Anticipated news flow over next three weeks - updated:

1) WR34-ST Test Results (now almost certain to be this week. possibly tomorrow morning.

2) Q3 Operations Update (could be as early as next week, Q2 update was on the 5th July)

3) Confirmation of spud date for next Project 1 - Phase 1 well + possible additional information on wider strategy.

4) Part 2 of TMS report, Block Energy - The Investment case for Georgia

No news today (Friday) so I am looking on that as a Positive.

I was wrong as well, Louphill, how about Monday?? (bound to be right in the end)

Three minds I think Chesh - Bobbby as well.

I thought as well a "Good" chance it would be last Thursday so has to be now a "Very Good" chance it will be tomorrow!

I just had a look at the Heroes site as well. It seems that there was 20 drops live 4 weeks ago and there is still 20 drops live the only thing that seems to have been added in the last 4 weeks is a couple of extra EFC Iconic Moments at $10 a shot.

I'm with you Chesh, feeling fairly confident.

Even if testing has been completed they may be waiting until it is brought into production before issuing RNS - just a thought but would explain the delay.

Anticipated news flow over next three weeks:

1) WR34-ST Test Results (likely to be this week)

2) Confirmation of spud date for next Project 1 - Phase 1 well + possible additional information on wider strategy.

3) Part 2 of TMS report, Block Energy - The Investment case for Georgia

4) Q3 Operations Update (likely to be 1st week of October)

The other thing they will have to do is connect up the gas to the infrastructure pipeline as they will not be allowed to flare it when they are in production mode. That should not take very long as I believe the infrastructure pipeline serving WR-B01Za is only the other side of the access road and they may have already left off a connection point in anticipation.

From RNS:

"The well will now be tested before being brought into production alongside the other two successful Project I wells."

BROUGHT INTO PRODUCTION.

Looks like Heps was wrong!!

More likely to be Tbilisi, see below:

"Me Tbilisi,brother oil student Rustavi Town.He know"

More likely to be in T

Rightor - Yep, I think Q3 results should be solid or better for three reasons.

1) As Bobbbrash pointed out the Average boepd for Q2 was more than the boepd at the start of the Q2 suggesting the flow rate at the start of Q3 was quite strong.

2) The price of Oil at most if not all times during Q3 has been more than Q2.

3) The likely addition of flows from the WR34 during the month of September.

I am no mathematician but I am working on the following probability for flow rates:

Below 250 boepd - 25% chance

250-350 boepd - 50% chance

Above 350 boepd - 25% chance

I would be "Happy" with anything above 250 boepd so IMO a 75% chance of me being "Happy".

All the above just IMO and not intended to be factual!

As a NON O & G egghead my thoughts on "Gusher Potential" are as follows:

There are existing wells in the area that predate 2012 but these will not have benefited from 3D seismic information or horizontal drilling so the Block sidetracks / lateral drilling will be reaching into previously untouched areas that have now been identified on the survey.

Based upon an approx average of the flows from JKT-01Z and WR-B01Za side tracks that are close by I think it is reasonable to expect a similar figure of around 300 boepd from WR34 -ST which would be good news.

I am not expecting a "Gusher", but if we are lucky perhaps we could hit 500 boepd which would be even better news -we will have to wait and see.

Serious question Roley, why does that happen??

I did as well Astec, but I am sure it will step up next week.

I would agree with you on both points Bobbby.

Good wish list Spudsoil.

Could I add a couple:

Project 1 - Phase 1 - Further details of final multi lateral well for execution late 2023

Project 1 - Phase 2 - Further details on this phase, currently being planned for execution in 2024