Member Info for Hepseal

Well done Rob, wondered why the price had gone up!! GL

Shed - Also, by way of confirmation, have a look at Bitsas004's excellent overlay map that he posted on the 30th June @ 11.15 The overlay map shows the location of the existing wells including KRT 39. Hope this helps.

Hi Shed - Your co-ordinates seem miles away from the Project 1 area.

I have just clicked on the "Nodding Donkey" at KRT-39 and the co-ordinates are 41.60643N, 44.89645E

Scaling off the CPR maps KRT-45 should be approx 300m north west of KRT-39 but as discussed there does not seem to be any recent activity at this location at the moment.

JP - "Yes Hep he's definitely blueskyaim on Advfn"

If that statement is in fact true I would suggest it could be a serious matter because the poster blueskyaim said on ADVFN approx 3 months ago that he was a new MOS investor and wanted to learn more about the company (or words to that effect), however he/she very quickly became an expert!!

Yiannakism45

The well compound at (41.593743,44.887087) is the recent WRB01 well site, hence on Google map the plant on site, etc.

The KRT-39 well compound is approx 1600 metres further north east. This is an existing well that has been producing for the last 20 years and on Googlemap you can see the nodding donkey drill, tanks, compound, established trees, etc.

The CPR document indicates the future KRT-45 ST a further 300 metres to the north west of KRT-39

With reference to the maps and schematic in the CPR document it looks almost certain that the new well site identified by Bitsas004 is actually WR34-ST but it definitely cannot be KRT-45 due to the location. Also the CPR identifies WR34 ST as the next well to be drilled after the recently completed WRBO1 well.

Justice - I get it - don't forget blueskyaim on ADVFN.

MOS may have acquired Krunch but ME etc incorporated a new company called Igniteamt Services Ltd on 28 June, 2023

As discussed previously, 41.60942, 44.89491 or thereabouts for KRT-45 (IMO)

The satellite images show absolutely no sign of any civil works or recent activity in the vicinity.

I do not think for one minute that they will have done any work on the KRT-45 site yet and WR-34 will be the next well they drill. (IMO)

Shed - I have only got access to Google earth myself but if I have understood Bitsas004 correctly I think he is saying his satellite images are more or less up to date, i.e.

Image 30th June - Not showing anything of any significance

Image 15th July - Showing significant site preparation works at what appears to be the WR-34 well site.

Good morning Shed - Yep, not concerned, as I say last years CPR did indicate that WR-34 ST would be the next well so Block presumably have good reasons to now stick with the original plan.

Not withstanding the fact that progress has been a little slow it is good to know that things are now progressing on site.

Possible reason for change, a lay mans view:

WR-34 ST is approx 350m from WR BO1z

KRT-45 ST is approx 350m from JKT01z

Perhaps after monitoring WR BO1z is performing better than JKT01z, hence WR-34 ST becomes a better option than KRT-45 ST - just a thought folks.

Sorry - With reference to the RNS, 12th May, 2023

Thanks BItsas 004 for posting images.

With reference to the RNS, 12th May, 2002 the next well in the drilling sequence was going to be KRT-45Z, located approximately 1,500 metres from the recently drilled and successful WR-B01Za well and will be spud in July.

However as Yiannakism45 has stated below, this new well is only approx 350m from WR-BO1Za and is definitely not KRT-45Z.

The original programme in last years CPR indicated that the next well after WR-BO1Za would in fact be WR-34 ST. If you look at the maps in the CPR document + the schematic I am pretty sure that this well site that has now been identified is in fact WR-34 ST and NOT KRT-45 ST.

It seems that for some reason they have reverted to the original sequence in the CPR.

City

"BOD purchases - Why ? they are trading salary for shares very quarter so in other words they are constantly buying."

Are you sure about that, the way I read the RNS of the 4th Jan, 2022 ME and TG have been taking there salaries in cash for some time now. (£70k in last financial year).

If anybody wants to know which Directors had their salaries paid in cash for the year in question they should read the RNS dated 4th January 2022

Rocklawn - Get it right, it was not a REHASH from some article, It WAS the article from Business Media Georgia which was a summary of the facts that were in the Q2 Operation Update RNS - what I don't understand was why you were so rude to the person who posted it?

(ps chesh - I know what you are thinking, but that was different!!))

Rocklawn - What is your point??

BD6Vant has posted a Georgian article so that we can read it.

BD6Vant is also suggesting Bloe is a strong buy - Thought you would be pleased?

Bobbby

"1.5k boepd by year end anyone?"

Agree with your figure Bobbby but I am going to say 1K boepd by year end (2 extra wells producing) and 1.5k boepd by say February (3 extra wells producing)?

But should

Cheers Chesh - and you did not bite my ___ off!! - All the best

Maladoni:

"and WR-16aZ, which have proved to have high gas-to-oil ratios. - April 2020. Gas sales struggle to justify infrastructure development."

The infrastructure was not built specifically to make a profit on the gas sales, it was built to facilitate the oil production because the gas by product could not be continuously flared and had to be dealt with.

The important point is that the infrastructure is now in situ so all the new wells in the West Rustavi and Krtanisi Project 1 area can just tap into it and can therefore capitalise on the investment.