Member Info for Hepseal

Thanks Skeletor for sharing message from NB.
In line with what several on this board have been saying but nice to see it in print.

Reminds me of someone on another chat board who continually contradicts numbers that have been clearly stated in RNS,s despite having been told many many times by other posters that he is using the wrong figures!!

meanwhile back at the ranch = NO SPUD = no movement = dead as doughnut

Amtech - if you had been paying attention you would know that they are not going to announce monthly figures, they are going to announce quarterly figures.

Tbilisi97
If not before, I would expect Block to announce the Spud date in the Q2 Operation Update at the beginning of July. If the spud date is indeed July 15th or thereabouts I will take your future posts very seriously and would concede that my comments may have been mis placed.

If people are going to refer to Tbilisi97 's likely load of *******s at least refer to his/her latest likely load of *******s:
Original post was superseded on the 7th June - "Spud date has changed to the middle of July!!"

Sophie1 - Totally agree.

I am afraid you have lost me on that one, as well as your two previous posts.
Perhaps you could tell me what these company figures are that are pie in the sky or are they the figures that have not yet been announced?????????????????????

PH links with Georgia go back over 10 years having first worked for Georgian Energy and then Georgian Oil and Gas.
PH is also Director and Joint shareholder of Plutus Strategies Ltd
Plutus Strategies Ltd hold approx 3M Block Energy shares that were received in lieu of cash for services carried out several years ago.

For those thinking that the the Scottish contingent would have been a better option a comment from the SCIR chat board this afternoon:
"Block energy (bloe) rallied the troops to see these guys off, they’re only in it for themselves."

AJW was just a "know it all" small investor who in fact did NOT know very much at all. I don't believe for one minute that AJW had much influence on the vote but I did agree with his view on the Scottish contingent.
If in any doubt I suggest you check out the current SCIR share price, 0.4p and the views on the SCIR chat board.

That said, I do believe we have a problem here, why oh why is it taking so long to start the WR51 side track, is the delivery of long lead items the real reason, at this rate WR51 will be the only side track carried out this year.

We could of course get an update any day but if not they will have to say something in Q2 operation update at the latest.

Don't understand why anybody is getting excited about the annual accounts as such - the only exciting thing for me will be any accompanying statements that deal with the future plans for the company.

Simple:
Total Revenue - IGS Revenue = Other Revenue

Guzzler - I am only getting bogged down in detail because you are but in answer to your question:

"Hepseal,
I agree, a small payment made in January.
The fact that a payment was made in January, and it's a 6 month contract, suggests all $720K will be paid up this month.
Now it seems that has changed to end of next month because.....?"

The six months contract was announced on the 13th January
Lets assume they started work on the contract a week later, 20th January
A small payment appears to have been made in January
Plus six months = 20th July
MOS have confirmed to City that final payment at end of July

Can not see that anything has changed, all ties up.

Thanks City re IGS revenue.
So as it is "back end loaded" I would guess:
A sizeable chunk in Q4 ending 30 June.
Another sizeable chunk in Q1 ending 30 Sept.

Guzzler - The monthly revenue for January was reported on the 1st March and was actually $150,000 so using your analogy this would mean that if any money did actually come from IGS in January it would have only been a very small amount somewhere between $0 and $30,000.

Hi Guzzler, just one small point, and excuse the broken record on my part, but they have said that the next figures will be for a quarter and not a month, so that should iron out any monthly peaks and troughs.
But yes, I would agree it would be nice to a have a breakdown of the various revenue streams.

Itacon - The RNS on the 01 March stated that from hereon they would be reporting revenue on a quarterly basis, as I have said before it is how you interpret that statement.

Option 1 - 3 months from last RNS.
Option 2 - If by quarterly they meant the quarter ending 30 June, coinciding with accounting year end, then we might have to wait until beginning of August for the figures.

Looks like it may be option 2 (or somewhere in between) - not a problem

Could be due to the weather, potatoes a bit late this year in Georgia!

Macca7763 - The RNS on the 01 March stated that from hereon they would be reporting revenue on a quarterly basis, I think it is how you interpret that statement.

Option 1 - 3 months from last RNS would as you say be early this week.
Option 2 - If by quarterly they meant the quarter ending 30 June, coinciding with accounting year end, then we might have to wait until beginning of August for the figures.

I sort of hope it is this week, but having said that it may be that if we wait a bit longer the figures will be even better bearing in mind the IGS is deal is "back end loaded" - whatever that means.

Amtech, from hereon they will now be reporting revenue on a quarterly basis.

Option 1 - 3 months from last RNS, i.e. RNS today or early next week.
Option 2 - Revenue for Q2 ending 30 June but due to invoicing time lag, etc RNS around 01 August.