Member Info for Hepseal

Guzzler, your post:

"Polite reminder that the guy dishing out the insults is the same guy that claimed he had spoken to Epstein and Lopez Ultimate NFT raffle tickets were $750 not $75."

Yes Guzzler, I first thought that some of Justice Pillars SPOOF City comments were slightly amusing but the above was inexcusable.

For anybody new looking in:

Justice Pillar has ZERO credibility.

Yep - took me ages to count up all those pennies!!

If anyone is interested I can confirm that the 210,000 trade this morning was a BUY.

I agree Chesh, quarterly updates from Block are most welcome, much better than every six months.

IMO quarterly reporting is about right as it evens out the peaks and troughs of production figures and oil prices.

i.e. on 16th Feb, 2021 Block reported as follows:

"Production across all of Block's portfolio is currently approximately 940 boepd, resulting in estimated future revenue for the Company of approximately US$920,000 per month at current oil and gas prices."

That flow rate was short lived and the quarterly figures in 2021 told a very different story.

Sorry Shed, called you Spud by accident - A little bit to much wine tonight I think!!!

Spud - I think only Block can answer that question but thinking out loud:

They will probably have to do some civil works i.e. road, hard standings, etc before site set up.

They will then have get heavy equipment to site and do site set up prior to spud.

Also, GOGL rig could be on another job somewhere??

Piscator / Shed

Sorry folks, don't agree with your theory re drilling PAT_E1 prior to KRT-45Z

Firstly, if they were going to drill it before KRT_45Z I think it would have been stated in todays RNS.

Secondly, if they are using the GOGL rig for both wells I do not think they would have enough time to drill PAT_E1 before the planned KRT-45 spud date in July.

Not being negative, just don't think it will happen as quick as you think.

Mephisto - If you are looking in I noticed you got some stick today, I totally agree with you re declining rates in past wells, particularly WR16a-Z and WR38 but I also think that the current batch of Project 1 wells will have good longevity - KRT39 has been producing for at least 20 years.

Geowiz - You are back then - What a blinkered statement!!!!!!!!!!!!!!!!!!!

Shed, I totally agree with your sentence:

"I think we finally have the stability to get a slingshot off the work done to date. Put another way (assuming ops continue to go well) there is an opportunity to get huge leverage off the investment in these projects to date".

Project 1 - You have only got to look at the "Facilities Schematics" diagram on page 28 of the CPR to appreciate the enormous amount of infrastructure that is already in place that will facilitate the upcoming sidetrack wells, KRT45, WR34,etc

Project 2 - Block now have there own refurbished rig to deal with these wells.

Oneandonly1 - I could have predicted that as well but you seem to be totally ignoring the now increased incoming revenue:

"Post-year end, Company production sees record levels at over 620 boepd (April average rate), reflecting the further success of well WR-B01Za."

As Astec says, all now going very well IMO.

Lets remind ourselves of PH,s statement in the Q1 Operations Update on the 17th April

"The Company continued to deliver on its successful drilling and asset development programme, with the results of WR-B01Za leading to RECORD group production levels being realised outside this reporting period."

Ignoring the gas for the moment it looks to me that oil production could average around 500 bopd over the forthcoming Q2 reporting period.

(previous record was 360 bopd during Q2, 2022 but then we slipped back to around 300 bopd over the last three quarters)

Does no one do any research anymore?
(JD)

Lothbury, are you sure that is correct, the rumour I heard it was 1 new PacWest share for every 2,350 Zillion MoS shares….

Chesh - further to yesterday's discussion.

From Georgian Oil & Gas Ltd website.
Team and Management

Mr. Guram Maisuradze
Chief Operations Manager
Guram has gained extensive international experience in drilling, completions and well services over the past 18 years in the UK/North Sea, Republic of Yemen, Egypt, Ivory Coast, Ghana, Equatorial Guinea, Azerbaijan Ukraine and Georgia. Prior to joining GOG, amongst other positions, Guram worked in Norio Operating Company as Operations Manager and CanArgo Limited as the engineering coordinator.

Of course, it could be that GOGL have not updated their website but I suspect the above may be correct, i.e. GM comes with the rig.

Of course Block have Ken Seymour at the helm as Chief Operating Officer, ex Drilling Engineer, Drilling Manager, Drilling Superintendent, etc,

Chesh - Don't know what I am talking about here but guessing hired rig for the larger appraisal well job over 3 levels and A-80 service rig for subsequent Project 2 mini deepening's,

When I looked Guram up on Linkedin a while back I seem to remember he was employed by Norio Operating Company, a subsidiary of Georgian Oil and Gas Ltd, so he may come with the rig and not be directly employed by Block.

Cheers Shed, interesting read as well, I should have included you in the "looking towards the future" list!

Sarah .... not as wrong as you are

What you may not realise is that both MMR and myself (as well as Bedex) have all been on this board since 2019 so are fully aware of all the history.

What you may not also realise is that both MMR and myself have confronted the failings of the management in the past and as far as I am concerned I will continue to do so in the future if I feel it is necessary.

Furthermore, we used to have a notorious Ramper on this board who I regularly took to task for posting misleading rampy posts, so please don't call me a "Ramper".

We are all entitled to our different opinions, but the way I see it Bedex and yourself are living in the past, the likes of MMR, Chesh and myself are looking towards the future.

Things may or may not work out but I can assure you that I am not a "desperado" or living in a "dream world" and I don't need any warnings from you.

I would say best of luck but then there is little point as neither Bedex or yourself are invested here.

Bedex - When you come out with comments such as "Like the desperados who post on this bb" nobody is going to take anything you say seriously so you might as well ride off into the sunset.