Member Info for Hepseal

Chesh - don't panic.

Bits says he has used Google map - although this is recent it is not that recent.

I am convinced that KRT45 will be in that rectangle of land to the north of the JKT01Z rectangle and to the west of the KRT39 rectangle, the bit with the road going diagonally across it.

Astec - agree regarding incoming news but I think we may have to wait to the start of the following week for Q2 results.

All the best.

Bitas004 - Thankyou for sharing, much appreciated.

What you overlays confirm is the benefits to Block of taking over the Schlumberger licence.

Cheers Shed, I am sure the majority did understand, just not everyone.

If Bitsas can provide some info on what is actually happening on the ground that would be great.

Rocklawn - do you not want to know if the rig has arrived on site yet??

I am afraid I am going to disagree with both Block Energy and Spud - sorry!!

If you measure 1500 metres from WRBO1 well site on Google map that takes you as far as the JKT01Z well site, but WR -45 is clearly further north than this. (perhaps they were measuring from the side track??)

Scaling off the February presentation map I make WR-45 approx 300 metres north west of KRT39.

I reckon that puts it somewhere in that rectangular piece of ground with a road running diagonally through the middle.

I have only got Google Map to look at and not surprisingly not showing anything yet.

Rob - I don't think they have announced anything via RNS but the CPR lists the first 3 wells in Phase 1 as follows:

Well 1 - WR-BO1 ST

Well 2 - WR-34 ST

Well 3 - WR -45 ST

As we know they have not done WR-34 ST yet, but possibly that could be the next one.

Bits

Next well is KRT45 - a short distance north west of existing well KRT39

If you have not done so already have a look at the CPR document which has 2 or 3 maps showing the location of the Phase 1 wells.

If there is any truth in the post I would guess it means the site is now ready to receive the rig, in which case the spud could be in two weeks time - Only a guess and don't mind if it is sooner.

I would assume total Directors remuneration in 2023 will be less than in 2021

In April 2021 Block had 2 Executive Directors and 4 No Non Executive Directors.

In June 2023 Block now has 1 Executive Director and 2 Non Executive Directors.

Yep - I had replies from William McAvock but of course he is no longer there.

And the long answer is:

No - because Project 1 is going to produce lots of money!!

Shed - you are not alone, I got my east and west muddled up, below post should have read:

Well KRT45 is a short distance north west of existing well KRT39

Shed

The next Project 1 well is a side track to KRT45, the route goes southwards and close to the already successful JKT01Z and WRB01Z side tracks.

Well KRT45 is a short distance north east of existing well KRT39 which has been producing for many years. KRT 45 will be connected up to the existing processing plant already in place at KRT39.

Hi Shed

"do you think there might be beneficial synergies in having the two projects running in parallel?;

I would not have thought so as they are in different area's (speaking as an O & G layman of course).

I did think that PH,s recent interview was excellent but it did focus mostly on Project 1 and did not say anything significant on Project 2.

As I think I may have said before reasons for delay could be one or both of the following:

Resources needed elsewhere, either on existing wells or preparing for Project 1.

All available cash being diverted to progressing Project 1.

Just my thoughts.

Extract from CEO statement 11th May re Project 11:

"Following these results, the drilling team upgraded the Company's service rig to enable it to be better utilised across a multi-well drilling programme, where four candidates have been risked, ranked, and prioritised. Following this initiative, Project II can advance in parallel to planned drilling under Project I."

The vast majority of investors did not actually vote at all.

Now that is out of the way lets look forward to the forthcoming positive RNS announcements.

I am not necessarily expecting an RNS before the AGM, just a standard RNS afterwards stating all resolutions have been passed. If there is any extra news, all well and good.

That said, two good RNS,s on the way:

1) Q2 Operations Update in approx 3 weeks time, all the indications being that production and revenue will show a significant increase on the Q1 figures.

2) Spud of KRT45 side track during July. - drill pad is being prepared at the moment

I do wonder if the Project 2 wells were to some extent seen as a backstop position to fall back on should WRB01 not have been a success and when it became apparent that WRB01 was a success they thought it better to channel all available finance and resources into Project 1 with the chance of greater rewards ASAP.

Will be interesting to hear what PH has to say on the subject should anybody get a chance to ask him.

Deeez - Where does it say the shares are going into there own pockets??

A couple of points:

PH stated categorically only last week that there was NO Equity raise planned in the near future.

The 2 resolutions if passed would only allow shares up to the value of £1M to be issued.

If you expect the share price to rise in the near future as I do I do not see this as a significant problem.

(sorry - that was three points)

Nope - and no mention of all that has been achieved in the last three years providing a firm platform from which to move forward and capitalise - Nope, no mention at all.