Member Info for Hepseal

That is the historic picture that is on the front page of the Block Energy website - think it is 16az.

Ah, but did Rustavi01 see "many many man with clipboard" like he did in Dec, 2020??

Rocklawn / Chesh - the evidence.

The satellite images show no visible signs of any civils work having been carried out in the vicinity of the proposed KRT45 well site up to the 30th June.

The Q2 Operations Update RNS makes no mention of any civils works having been carried out at the KRT45 well site during that quarter.

PH did say in the recent interview "whilst the civils work, drill pad is being completed", but as far as I could tell he did not actually say the work had started.

However, PH did say in the recent RNS that "Our next Project I well will spud later this month."

In view of the above I take "later" to mean the tail end of the month.

Thanks Bits, would welcome any updates you can provide.

It looks as though the drill pad was perhaps not as far advanced as some people thought.

Rlightor - Bang on - That is exactly where I think it is. - I did wonder if the red blob was where they had done some gas fIaring in the past. The only thing though is that the Bitas004 images of the 30th June posted below don't seem to show any recent activity at this point?

Rlightor

That is KRT39, the legacy well - also features in one of the JKT01 videos.

The big rectangle a short distance to the west is the JKT01 site

According to the CPR maps the new KRT45 well is about 300metres to the north west of KRT39

Bit worrying that nothing significant is showing up on the satellite pictures for 30th June.

Thanks Bits for the posting.

Morning Chesh - being serious here, not messing around - if I had not studied the maps in the CPR I would have said you were on to something but unless the maps are widely out KRT45 is nowhere near that far north. Although the positions on the maps may be slightly indicative I would be very surprised if they were that far out, so interpolating from the maps I am still of the opinion that KRT45 is broadly speaking where I have already stated if the maps are correct.

Interestingly on Google Map there is a large dark blob at this location which I thought might have been from an earlier gas flaring exercise. I agree with Bits that I can not see any definitive signs of recent activity at this location although there is a very slight brown colouring on the 30/6 image which could just possibly be that the site has been top soil stripped. Sorry, clutching at straws now!!

Fergus Robson is the Commercial Manager

Chesh, I have no idea what you are trying to say but if someone does have access to Satellite they will stand a much better chance of seeing a drill pad near to my co-ordinates than if they went to the load of tosh co-ordinates that you posted last weekend from your mate AJW - Sorry, did not mean to bite your ass off Chesh.

Further to Chesh's request for live satellite progress, if Bits or anybody else has the means try this location:

41.60942, 44.89491 or thereabouts.

OK - I think I get it now.

Sarah is actually a man

Mr Willy is actually Mrs Willy

And most important of all, Block Energy looking good.

Mr Willy now showing his true colours and not quite so eloquent!!

Shed

"The production decline means they are always going to be robbing Peter to pay Paul"

A couple of years ago when Mal was last here before he sold out I would have agreed with him to some extent based upon the early wells that had been drilled at that time, however things have moved on, i.e.

The 3d is now not a mystery, it is being used to good effect.

The decline rates although still a consideration are not as rapid in the new wells.

The new wells have a good chance of longevity, KRT39 had been producing for over 20 years.

The decline rates will be offset by stepping up the drilling programme

Block could be realistically producing 2000boepd in 9 months from now.

2 new side tracks plus 1 multi lateral well (equivalent to 2 or 3 side tracks) programmed for execution.

As both Bobby and yourself have pointed out, a means to an end regarding the Gas.

NO

Actually Deeez you raise a very interesting point.

"The sad thing is that many here are still happy with PH’s performance."

Actually after some early mishaps I think PH has done rather well in a rather challenging environment, he has built up the company from scratch, acquired the Schlumberger licences, persevered despite early technical failures to a position where Block are now producing a modest but respectable revenue to finance future wells that have a good chance of success. No, I am not happy with the share price, but I can see the bigger picture, it is just that others can't at the moment.

Oh dear indeed Sarah, last night you said:

"i suggest q2 will be average at best...."

Average production for Q1 was 400 boepd

Average production for Q2 was 664 boepd

I know this does not fully address Sheds point, but the A80 rig could be being used for preparatory works on Project 1.

( I believe they may have used a lesser rig on preparatory works in the past but I could be talking nonsense on that point)

Rest assured, whatever the risk reward equation is Block Energy will have made an up to date assessment - the equation could well have altered over the last 9 months, i.e. Project 1 could be performing better than anticipated, Project 2 could be performing not so well. That's why it pays not to have all your eggs in one basket.

Anyway, the main focus in the coming months does appear to be on Project 1.

Not withstanding the share price I still maintain it was an excellent RNS:

Significant increase in Production figures.

Significant increase in revenue figures.

From previous statements and interview confidence that project 1 is going to do very well.

All the best.

Excellent News, a couple of very important points:

The all important Oil Production averaged 534 bopd (299 bopd in Q1)

The all important oil revenue was $2,568,000 ($999,000 in Q1)

OK Sarah

"i suggest q2 will be average at best...."

That is just words, what do you mean, put a figure on it, what do you suggest the average daily production figure will be for both oil and gas for the quarter??