Member Info for Hepseal

I would anticipate we would at least get an update on the KRT-45_ST drilling programme, the second Project I development well.

Cheers Rob

I agree with everything you say, in particular:

"It's will certainly be a solid result and should raise the share price. Q2 will be a better indication but Q1 should be a good starter."

You have a good weekend as well.

Chesh - I will give PH 10/10 for Perseverance

Shed
"Having said that who would honestly be surprised if productions figures were simply alrightish with a couple of tales of woe from various wells?"
My Q1 prediction of 32 Mbbls of oil (average 350 bopd) factors in a small element of "tales of woe" but I do think that the fact that the share sacrifice scheme has finished gives us a clue that things are now going reasonably ok.

Well, someone has just bought 1,000 000

Bits / Shed
I never said Q1 production figures bothered me, in fact I am quite confident they will show at least a 10% - 15% increase on the Q4 figures for several reasons - I just said the production numbers are important.
As you say the Q2 results should surpass anything Block have produced to date even without the next well on line.

Chesh - don't quite agree with your first sentence re production.
Production is the most important bit re Q1 Operations Update - that is the starting point.
Then we have the Forward Plan which is the exciting bit.

Yep, Hope it is today, don't think it will be Friday, my head now says Monday.

Chesh - I've checked and you are correct:
"Look out for a @TMSreach interview with #BLOE next week"
Could still possibly be put back a day or so if RNS not ready.

Agree with you Bits, I have a feeling that this update will have additional information regarding the forward plans.

Yep, looking a bit more like Monday now for Q1 Operation's Update - don't think there was a specific date in David Burtons tweet regarding interview but IMO unlikely to be before RNS.

Hi Shed, I hear what you are saying about the other assets and am not disagreeing but I do also think they are very confident that WR-B01Za production will be the icing on the cake for the immediate future and also that the future Project 1 wells will have a very good chance of being equally successful.
Looking forward to the Q1 update, hopefully tomorrow.
Had a little top up this morning @ 1.9p in anticipation.

That was probably why they raised the extra £1M in February but as Grower says, moving forward into Q2 things are looking healthier.

Shedulike - I agree with all your comments re Q3 & Q4 etc.
I am guessing that OIL production for Q1 will be about 32 Mbbls, i.e. Average 350 bopd but we will have to wait and see.

Based upon 1000 boepd, with a 60/40 Oil/Gas split, allowing for the State of Georgia's share and a price of $80 per barrel for the oil (& reduced amount for the gas) I come up with a figure of about $16M which seems to agree broadly with Scrodingerscat's figures below.

All good IMO and look forward to next RNS, hopefully tomorrow.

Guzzler - "He's mimicking the nonsense Barry has spouted for 18 months."
Spot On Guzzler, a SPOOF City.

Very good chance we could get Q1 update tomorrow, are we saving the best to last??

If the rumour mill is true I'm hearing you are making it up!!

Think we need to differentiate between Project 1 wells and Project 2 wells.

Next Project 1 well is likely to be KRT-45 ST
Estimated cost from CPR = $1,498,000, good chance of replicating recent results of JKT-01Z and WR-BO1 Z, say 250 bopd.
I would say this well plus gas link up, etc would probably take 4 months start to finish

Project 2 wells
Est cost £100,000, - likely flow rate 50 bopd
I think these low cost wells are the ones that can be turned around in 60 days, start to finish.

So how about 1 no Project 1 well and 3 no project 2 wells this year??

Roll on tomorrow morning (or Wednesday)

Q1 Operations Update highly likely to be Tuesday (11th) or Wedneday (12th).
I am guessing that OIL production for Q1 will be about 32 Mbbls, i.e. Average 350 bopd.