Member Info for Hepseal

A good question Shed.

The current emphasis does seem to be on Project 1 and PH does seem to have gone a bit quiet on Project 11 but I am sure there must be a good reason, perhaps a redirection of resources to other existing wells for some reason, or even to assist with accelerating Project 1 now that it seems clear that WRB01 is a success.

If anyone is interested just looked on Google map which although updated since I last looked not surprisingly does not yet show the KRT 45 civil works.

What it does show though is a lot of activity on the WR38 site, probably three months ago.

Rob - excellent post, you have summarised the situation exactly as I see it.

Even if only two out of the three wells were successful I think we should hit 1000 boepd but if all three are successful, particularly well 3, we could see say 1200 - 1500 boepd.

Sorry Chesh, I would have voted for Deeez, his calculator comes up with a better answer than yours!

Welcome back Hawkspear - think you have re-joined us at an exciting time.

Morning Chesh - like the arithmetic

I am working on the basis that the SP will be over 2p after the Q2 results so that would give your projections a boost.

Ok Sarah, you post more than anybody else on this board and you have stated below that the "next results will be poor".

Why do you say this, based upon recent RNS statements and recent interview the Q2 quarterly update to be announced in approx 4 weeks time is IMO likely to show a 50% increase in oil production over the Q1 figures.

Stop trying to mislead people.

Yep - and I guess the reason they are not planning to raise is because WR-BO1Za still appears to be producing at the top end of CPR expectations after 3 months and they expect this to continue and for other Project 1 wells to do the same.

Sarah, you say - "the writing is on the wall ffs"

I agree with you 100%

That is why some of us bought a few more.

Perhaps "she" is buying now!!

Chesh - "All the best (thoughts on the YE production target......? :() "

I am going to work on the basis that only two out of the three wells will be producing at year end so I am going to say 1200 boepd of which 1000 bopd is Oil.

I believe that PH did say in the interview that well 3 of 3 could produce significantly better results than the other two but that could be early 2024.

Rocklawn - "PH none of us no anything about the man."

Well, we don't know if he had a rich Auntie but we do know he has worked in Georgia for the last 10 years and that is a pretty important plus as far as I am concerned.

Chesh - "shocking interest rates......! yep, but you'd be screaming from the roof tops if an equity raise happened to raise $2m............!"

Exactly, especially if it involved 400 million shares!!!!!!!!! - The other point on all this is that the monies have been raised from various shareholders, only a small proportion from actual Directors of the company.

Anyway, I am feeling pretty confident today, hope you are to.

Oneandonly1 - we all know PH earns a good salary from Block Energy, plus he is Director of another company and he has reinvested £115,000 back into Block - what exactly is your problem.

Yes, perhaps he has been rewarded a little to well in the past but as far as I am concerned PH is doing ok at the moment.

Morning Rob - Did not see your post because I was typing - think we are more or less in agreement.

Morning Chesh - and anybody else looking in.

Excellent TMS interview by PH / SL - I bought a few more.

Confirmation that no equity raise planned.

3 further mentions of WR-B01Za and Record production levels so Q2 operations update at beginning of July should go down well. I am predicting 600 boepd average of which 500bopd will be the oil.

Drilling rig is a couple of clicks away from KRT-45Z and Civil Works are progressing, so spud not that far away.

Project 1 - Phase 1 - 3 further wells this year

Project 1 - Phase 2 - Wells being planned for 2024

Mention of projects 2,3 and 4.

All the best

Thanks Chesh

That was helpful, obviously calculated on the nominal value of he share.

I think you should have written the explanatory notes!

Hi Gary

"Last time I checked 227 million plus 172 million plus a few added up to 400 million..........unless you know different."

You are of course totally correct, I am afraid I did not go down to the bottom of the page and read the notes.

But - how do those number of shares equate to the max Aggregate Nominal Value refereed to in the resolutions.

i.e. £568,879.66 + £430,969.44 = £999,849.10

I am confused!!

I also would like some clarification but I am assuming they are separate, the second one is worded, "for cash".

The problem is that we don't know what all this is about - would welcome a serious discussion and debate on the above, good and bad points welcome as long as they are substantiated.

Gary - How do you get 400 million shares?

The two resolutions add up to just shy of £1M

@ 1p a share that would be 100 million shares

@ 2p a share that would be 50 million shares

Someone previously mentioned monies could be used for progressing Project 3, is that necessarily a bad thing?

Perhaps if the company issued Quarterly updates there would not be the need for so many questions.

No City - I am not convinced - to many similarities.